301 NW 32nd Ct - Apartments FOR SALE


Pompano Beach, FL 33064- Outer Pompano Beach/Deerfield Beach
$4,000,000 USD
954-743-7594
301 NW 32nd Ct, Pompano Beach, FL for Sale
$4,000,000 USD
Apartments - FOR SALE
1/16
null | 6.82% Cap Rate


HIGHLIGHTS

  • Strong In-Place Income: Approximately $396,318 in current Gross Operating Income, with $272,725 NOI, representing a 6.82% cap rate.
  • Oversized Unit Mix: 10 spacious 2-bedroom/2-bath units, 11 1-bedroom/1-bath units, and 1 studio
  • Large Land Component: Approximately 43,552 SF lot with 16,679 SF of building area.
  • 46-Unit Portfolio Opportunity: Can be acquired with the adjacent 24-unit properties (fourplexes) to create a combined 46-unit portfolio.
  • Property Upgrades: Central A/C, new electrical breakers, 2 parking spaces per unit, and recently completed 40-year recertification.
  • Prime Pompano Location: Minutes from I-95, Atlantic Boulevard, Downtown Pompano, and the waterfront.

OVERVIEW

Olive Glenn Apartments, located at 301 NW 32 Ct, Pompano Beach, FL 33064, presents an opportunity to acquire a 22-unit multifamily property consisting of 10 two-bedroom/two-bathroom units, 11 one-bedroom/one-bathroom units, and 1 studio. The property features approximately 16,679 SF of building area on a 43,552 SF lot, with spacious unit layouts, central A/C, new electrical breakers, and two parking spaces per unit. The building recently completed its 40-year recertification and also features a large coin-operated laundry room and storage facility. The property currently generates approximately $396,318 in Gross Operating Income and $272,725 in NOI, representing a 6.82% cap rate and offering investors a strong in-place income stream with potential for further upside. The property can also be purchased together with an adjacent 24-unit multifamily property, creating an opportunity to acquire a combined 46-unit portfolio with multiple properties located next to each other. Strategically located just minutes from I-95 and Atlantic Boulevard, Olive Glenn Apartments provides convenient access to Downtown Pompano Beach, major retail corridors, employment centers, and the Pompano Beach waterfront, supporting continued rental demand and long-term growth in the surrounding market.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$23 USD /SF

# OF UNITS

22

PRICE/UNIT

$181,818

CAP RATE

6.82%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Olive Glen Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1979

PARKING SPACES

44

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,552 SF

ZONING

RM-16, County

APN/PARCEL ID

48-42-23-20-0010,48-42-23-CB-0010

ASK ABOUT THIS PROPERTY

Elior LeviFausto Commercial Realty ConsultantsMore Info
954-743-7594

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Elior LeviFausto Commercial Realty ConsultantsMore Info
954-743-7594

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