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- MLS#: R11155485 ( Residential Income )
- Street Address: 1020 Riverside Drive
- Viewed: 37
- Price: $5,799,000
- Price sqft: $361
- Waterfront: No
- Year Built: 1964
- Bldg sqft: 16086
- Total Baths: 2
- Days On Market: 27
- Additional Information
- Geolocation: 26 / -80
- County: Broward
- City: Pompano Beach
- Zipcode: 33062
- Subdivision: Pompano By The Sea
- Provided by: Compass Florida LLC
- DMCA Notice
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PRICED AT ONLY: $5,799,000
Address: 1020 Riverside Drive, Pompano Beach, FL 33062
Would you like to sell your home before you purchase this one?
Description
RARE OPPORTUNITY TO ACQUIRE AN 8.0% CAP RATE PROPERTY! Incredible opportunity to acquire a 28 unit multifamily property located just steps from the beach in booming Pompano Beach. The property is approximately 70% leased and in the process of being fully stabilized, offering immediate upside for investors. At full occupancy, the asset is projected to gross $50,000 per month in long term rental income and an additional $150,000+ from vacation rentals, with an NOI approaching $500,000 annuallymaking this a high yielding cash flow investment. Located less than 300 yards from Pompano's pristine public beaches! Views of both the intracoastal and the ocean!
Property Location and Similar Properties
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Building and Construction
- Exterior Features: Balcony
- Fencing: Fenced
- Flooring: Tile, Vinyl
- Roof: Composition
Eco-Communities
- Pool Features: In Ground
- Water Source: Public
Utilities
- Cooling: Ceiling Fan(s), Central Individual, Electric
- Heating: Central Building, Central Individual, Electric
- Sewer: Public Sewer
- Utilities: Sewer Available, Water Available
Amenities
- Association Amenities: Pool
Finance and Tax Information
- Tax Year: 2025
Rental Information
- Tenant Pays: Cable TV
Other Features
- Legal Description: POMPANO BY THE SEA RESUB 1-22 B LOTS 21 & 22 TOG/W LOT ''B'', BLK 8
- Parcel Number: 484330010670
- Views: 37
- Zoning Code: RM-20
