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29159343
29159344

211 SW 2nd Ct, Pompano Beach, FL 33060

ER
FL FL SL3134745
Marcus & Millichap - Fort Lauderdale
CS
FL SL-3605832
Marcus & Millichap - Fort Lauderdale
DC
FL SL 3234051
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Listed by Marcus & Millichap - Fort Lauderdale
$727,500
146 days on market
Updated 69 days ago

Avondale Flats

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 2,324
Units 6
Cap Rate 7%
NOI $50,909
Occupancy 100%
Pro-Forma Cap Rate 7.47%
Pro-Forma NOI $54,365
Price per SqFt $313
Broker Co-Op Yes
Class C
Year Built 1954
Buildings 1
Stories 1
Acreage 0.220
Investment Type Value Add
Ownership Fee Simple

Multifamily | 6 Units | $121,250/unit

Marketing description

Located at 211 SW 2nd Ct in Pompano Beach, Florida, this 6-unit garden style apartment building was built in 1954, totaling 2,324 square feet. The building boasts a newer roof made of pitched composite shingle and hurricane impact windows, ensuring long-term durability and reduced insurance costs. Each unit equipped with wall unit air conditioning.

The property's location is particularly advantageous due to its proximity to the dynamic developments around Pompano Beach City Hall. This area, situated less than 1 mile from the property, is undergoing significant transformation with new commercial, residential, and public projects. The ongoing redevelopment efforts include modern retail spaces, enhanced public facilities, and improved infrastructure, all aimed at boosting the local economy and community appeal. This property will benefit from easy access to local economic drivers and employment drivers as well as various local attractions and essential services. The Pompano Beach Amphitheater, located approximately 2 miles to the east, offers a venue for concerts and cultural events, enriching the community's cultural life. For outdoor enthusiasts, the nearby Pompano Community Park provides extensive recreational facilities, including sports fields, tennis courts, and an aquatic center. Additionally, quality educational institutions such as Pompano Beach High School and Pompano Beach Elementary School are within close reach, making this location ideal for families. The property’s strategic location, combined with the area's development, positions it well to attract a diverse tenant base.

This investment property represents a promising opportunity with significant upside potential. The property's sturdy construction, recent upgrades, and prime location within a burgeoning part of Pompano Beach, contributes to its long-term investment value. With the ongoing developments around City Hall expected to drive up property values and rental demand, this property is poised to deliver stable returns and capital appreciation.

Investment highlights

  • Each Unit Features A Full Kitchen And Hurricane Impact Windows

  • Located East of Interstate-95 in Pompano Beach

  • 1954 Concrete Block Construction

Listing Contacts

ER
FL FL SL3134745
Marcus & Millichap - Fort Lauderdale
CS
FL SL-3605832
Marcus & Millichap - Fort Lauderdale
DC
FL SL 3234051
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Listed by Marcus & Millichap - Fort Lauderdale

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$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$50,909.00
$4,242.42/mo

Valuation Metrics

0
DSCR
7%
Cap Rate
7%
ROI

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Additional Information

Name
Evan Richardson
License
FL SL3134745
Name
Cory Sanchez
License
SL-3605832
Brokerage
Marcus & Millichap
Title
Associate
Brokerage Address
5900 North Andrews Avenue
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