2275-2281 NE 12th St - Apartments FOR SALE


Pompano Beach, FL 33062- Outer Pompano Beach/Deerfield Beach
$4,950,000 USD
561-221-1871
2275-2281 NE 12th St, Pompano Beach, FL for Sale
$4,950,000 USD
Apartments - FOR SALE
1/10
null | 5.26% Cap Rate

2275-2281 NE 12th St
Pompano Beach, FL 33062
Outer Pompano Beach/Deerfield Beach


HIGHLIGHTS

  • Convenient access to Atlantic Boulevard, US-1, and coastal amenities.
  • Established income-producing residential asset in Broward County.

OVERVIEW

20 Unit Multifamily Investment, East of Federal Hwy in Pompano Beach. Stabilized apartment community on two contiguous parcels totaling 18,112 SF, minutes to the beach and Intracoastal, without the added price tag of being on the barrier island. CBS construction, offering 11,16 SF across two buildings with 18 one bedroom and 2 two bedroom units. In place rents that are a bit below market, offering upside through lease renewals which can be increased through value add updating. Zoned RM-20, the site benefits from low submarket vacancy and steady rent growth, plus proximity to the downtown core redevelopment, and new luxury beachfront hotels driving workforce housing demand. It's rare to find an offering of this many units in one building in this supply constrained coastal submarket. Full OM available upon request.

FOR SALE DETAILS

PRICE

$4,950,000 USD

PRICE/SF

$443 USD /SF

# OF UNITS

20

PRICE/UNIT

$247,500

CAP RATE

5.26%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Florence Villas Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

RM-20

APN/PARCEL ID

48-43-30-20-0100

ASK ABOUT THIS PROPERTY

Casey PrindleNicklaus Vance Realty GroupMore Info
561-221-1871

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Casey PrindleNicklaus Vance Realty GroupMore Info
561-221-1871

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.