3213 SE 12th St, Pompano Beach, FL 33062

The Malibu Apartments is a 14-unit apartment building located in Pompano Beach on SE 12th Street, east of A1A and about a block from the beach and Atlantic Ocean. The property has been very well maintained and consists of 12 one bedroom/one-bathroom units with about 655 SF and two two-bedroom/one-bathroom units with about 830 SF. The units have central air-conditioning and heat, many of which have been changed recently. Water, sewer and trash removal are included in the rent. The property was built in 1971 and sits on a .31 acre site.

The property is in an excellent location on the barrier island in Pompano Beach walking distance to the beach and between Atlantic Boulevard and Lauderdale by the Sea, east of the Intracoastal Waterway. The area is made up of low-density residential buildings, low rise condominiums and single-family homes with hotels, resorts and high-rise condominiums along A1A. The neighborhood is a very sought after area, attracting a wide range of residents who are drawn to the area because of its close proximity to the Atlantic Ocean.

An investor has the opportunity to acquire a very well-maintained apartment building with the ability to increase the rental income. The Malibu Apartments is priced at $3,650,000 which comes to $260,714 a unit and $383 a SF.