3401 NE 10th St - Hospitality FOR SALE


Pompano Beach, FL 33062- Outer Pompano Beach/Deerfield Beach
$2,500,000 USD
954-675-2501
3401 NE 10th St, Pompano Beach, FL for Sale
$2,500,000 USD
Hospitality - FOR SALE
1/108
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OVERVIEW

Seller wants to negotiate / sell! Call listing agent. Directly on the sand! 7 apartments of the 11 total are available for purchase in this beautiful 4 story condominium located directly on the sand. The 7 (full kitchens and fully furnished) were purchased as a family retreat 16 years ago. You must come and experience the tranquility of the property to appreciate what it has to offer – Spectacular views, heated pool, private beach area, convenient parking, elevator, 2 laundry rooms… Per the recently completed Structural Integrity Reserve Study the property is well maintained plus it has a new roof, pool heater / pump and standpipe fire system. The condo association monthly fee is only $650 per apartment, and there is $20,000 in the reserve fund. The other 4 owners are out of state and seldom use their apartment. Per the Association’s condo attorney, owning 51% of the apartments provides the opportunity to replace board members and thereby have partial control of the Association. And when an owner decides to sell, you have the first right of refusal to purchase their apartment. In addition to being a family retreat, the apartments have tremendous potential to be positioned as an upscale boutique hotel. The asking price per apartment for this direct oceanfront gem is less than many dry lot properties located on the west side of A1A! Ok to drive by but listing agent must schedule and accompany site visits.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$946 USD /SF

# OF ROOMS

8

PRICE/ROOM

$312,500 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Atlantic Terrace Condominiums

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Exterior

BUILDING CLASS

B

YEAR BUILT

1966

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

RM-45/HR

APN/PARCEL ID

48-43-29-BA-0070

ASK ABOUT THIS PROPERTY

William MillerColdwell Banker Commercial RealtyMore Info
954-675-2501

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William MillerColdwell Banker Commercial RealtyMore Info
954-675-2501

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