900-902 SE 1st St - Apartments FOR SALE


Pompano Beach, FL 33060- Outer Pompano Beach/Deerfield Beach
$6,700,000 USD
954-245-3492
900-902 SE 1st St, Pompano Beach, FL for Sale
$6,700,000 USD
Apartments - FOR SALE
1/26
null | 5.92% Cap Rate

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


HIGHLIGHTS

  • Apartment Complex w/42 Operating Units (41 Permitted), Priced below $160,000 Per Unit
  • Available Free & Clear or ~48% LTV Freddie Mac Loan, 4.42% Interest, due September 2027
  • Located just south of Atlantic Boulevard, between Dixie Highway and US-1 (Federal Hwy)
  • Situated on 1-Acre Lot with Ample Parking, Swimming Pool and On-Site Laundry Facilities
  • Current Unit Mix consists of (1) unpermitted Studio, (39) One Bedrooms, (2) Two Bedrooms
  • Units Feature Central A/C (studio has wall unit), Ceramic Tile Flooring, Electric Appliances

OVERVIEW

The Thomas Team of Marcus & Millichap are pleased to present RAM Pompano Apartments, a multifamily property operating as 42-units and located at 900 Southeast 1st Street in Pompano Beach, Florida. 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 is currently in the process of finishing work and closing out permits related to air conditioning installations, paving of the parking surface and the currently required 40/10 year building recertification.

FOR SALE DETAILS

PRICE

$6,700,000 USD

PRICE/SF

$149 USD /SF

# OF UNITS

42

PRICE/UNIT

$159,524

CAP RATE

5.92%

% LEASED

90%

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.