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For Sale

1020 N Riverside Drive

1020 N Riverside Drive, Pompano Beach, FL 33062

$5,995,000

Incredible opportunity to acquire a 28-unit multifamily property located just steps from the beach in booming Pompano Beach. The property is approximately 75% 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 rental income (long term rents), with an NOI approaching $425,000 annually making 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! Ideally positioned east of the intracoastal and one block from the Intracoastal, the property is walkable to the beach, Pompano Pier, and the newly revitalized Fishing Village.

0.58 Acres lot

Sean R. Mooney, PA

title Principal Agent
PHONE (561) 789-7208
EMAIL [email protected]
DRE # 3366223

James P. Lopez, PA

title Principal Agent
PHONE (561) 558-5778
EMAIL [email protected]
DRE # 3386064

Features & Amenities

Interior

Flooring Tile, Vinyl

Area & Lot

Status For Sale
Lot Area0.58 Acres
MLS® IDR11140438
TypeCommercial
YEAR BUILT1964
Water FrontageIntracoastal Access

Exterior

STORIES2
water SourcePublic
utilitiesSewer Available, Water Available
roofComposition, Shingle
HEAT TYPECentral, Electric, Other
AIR CONDITIONINGCentral Air, Electric, Other
sewerPublic Sewer
security FeaturesFire Sprinkler System, Smoke Detector(s)

Financial

Sales Price$5,995,000
Real Estate Tax $57,978/yr

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