2275 NE 12TH Street
$4,950,000
2275 NE 12TH Street, Pompano Beach, FL 33062
260,517
NOI
11,165 sqft
Building Size
Details:
Highlights:
- Lot Features: 1/4 To Less Than 1/2 Acre Lot, Less Than 1 Acre
- Gross Income: 397200
- Number Of Buildings: 2
- Bathrooms Total: 0
- Documents Available: Copies Of Lease(S), Owner Managed
- Cooling: Ceiling Fan(s), Wall/Window Unit(s)
- Heating: Electric, Window/Wall
- Electric: 220 Volts, 220 Volt
- Flooring: Tile
- Construction Materials: CBS Construction, Slab Construction
- Parking Features: Common
- Security Features: Smoke Alarm, Smoke Detector(s), Smoke Detector
Description:
20 Unit Multifamily Investment, East of Federal Hwy in Pompano Beach. Stabilized apartment community on two contiguous parcels totaling 18,112 SF, minutes to the beach and Intracoastal, without the added price tag of being on the barrier island. CBS construction, offering 11,16 SF across two buildings with 18 one bedroom and 2 two bedroom units. In place rents that are a bit below market, offering upside through lease renewals which can be increased through value add updating. Zoned RM-20, the site benefits from low submarket vacancy and steady rent growth, plus proximity to the downtown core redevelopment, and new luxury beachfront hotels driving workforce housing demand. It's rare to find an offering of this many units in one building in this supply constrained coastal submarket.
Location
Gallery
