900-902 SE 1st St - Apartments FOR SALE


Pompano Beach, FL 33060- Outer Pompano Beach/Deerfield Beach
$6,510,000 USD
954-245-3492
900-902 SE 1st St, Pompano Beach, FL for Sale
$6,510,000 USD
Apartments - FOR SALE
1/27
null | 6.06% Cap Rate

900-902 SE 1st St
Pompano Beach, FL 33060
Outer Pompano Beach/Deerfield Beach


HIGHLIGHTS

  • Attractive Apartment Complex in Pompano Beach w/42 Operating Units (41 Permitted), Priced below $155,000 Per Unit
  • Seller Recently Installed 22 New Air Conditioning Units, New Parking Lot and is in the process of Landscaping upgrades
  • Property will be delivered with a New 40/10 Year Recertification by Closing
  • Situated on 1-Acre Lot with Ample Parking, Swimming Pool and On-Site Laundry Facilities
  • Unit Mix consists of (1) Non-Conforming Studio, (39) One Bedrooms and (2) Two Bedrooms

OVERVIEW

RAM Pompano Apartments were constructed in 1974 and comprise (2) two-story CBS buildings with flat roofs. The property currently consists of (1) studio apartment (non-conforming), (39) one-bedroom/one-bathroom apartments and (2) two-bedroom/one-bathroom apartments. The buildings total 17,140 rentable square feet and encompass a 43,929-square-foot lot, according to the Broward County Property Appraiser. Units feature central air conditioning (the studio apartment has a wall unit), ceramic tile flooring and electric appliances. Property amenities include on-site laundry facilities and a swimming pool. *The property is licensed for 41 apartments. The studio is non-conforming. **The Seller recently installed 22 new air conditioning units, re-paved the entire parking lot and installed new landscaping. ***The property will be delivered with an updated, 10-year building recertification at closing.

FOR SALE DETAILS

PRICE

$6,510,000 USD

PRICE/SF

$145 USD /SF

# OF UNITS

42

PRICE/UNIT

$155,000

CAP RATE

6.06%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

RAM Pompano

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1974

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.37 AC

LAND SF

59,677 SF

ZONING

TO-EOD

APN/PARCEL ID

49-42-01-00-0120

ASK ABOUT THIS PROPERTY

Joseph ThomasMarcus & MillichapMore Info
954-245-3492

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Joseph ThomasMarcus & MillichapMore Info
954-245-3492

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