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211 Southwest 2nd Court

$775,000

211 Southwest 2nd Court, Pompano Beach, FL 33060

Active
Last Updated: 11/19/2024

5.73

Cap Rate

44,440

NOI

Details:
Cap Rate:    5.73%
NOI:    $44,440
Cash-on-Cash:    3.11%
Pro Forma Cap Rate :    7.5%
Building Size:    2,324 sqft
Lot Area:    0.22 acres
Occupancy:    100%
Class:    C
Units:    6
GRM:    9.14
Average Room Size:    387 sqft
Year Built:    1954
Price Per Sqft:    $333.48
Price Per Unit:    $129,167
Roof:    Flat
Investment Strategy:    Value Add
Highlights:
  • Hurricane Impact Windows Throughout
  • Located East of Interstate-95 in Pompano Beach
  • 1954 Concrete Block Construction
  • Below Market Rents
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 has hurricane impact windows which 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.

Map:
Documents:
Title
211_Offering_Memorandum.pdf
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Location
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