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For Sale

1020 N Riverside Drive

1020 N Riverside Drive, Pompano Beach, FL 33062

$5,750,000

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 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!

Studio

2
baths

10,642 Sq.Ft. LIVING AREA

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

total bedrooms0
Total bathrooms2
Flooring Tile, Vinyl

Area & Lot

Status For Sale
Living Area10,642 Sq.Ft.
Total Area16,086 Sq.Ft.
Lot Area0.58 Acres
MLS® IDR11155485
TypeMulti-Family
YEAR BUILT1964
NeighborhoodPompano Beach
Water FrontageNone
View DescriptionIntercoastal, Ocean
Elementary SchoolPompano Beach
Middle SchoolPompano Beach
High SchoolBlanche Ely

Exterior

STORIES2
water SourcePublic
utilitiesSewer Available, Water Available
PoolIn Ground, Association
roofComposition
lot featuresSprinklers Automatic
HEAT TYPECentral, Electric, Individual
AIR CONDITIONINGCentral Air, Ceiling Fan(s), Electric
sewerPublic Sewer
HOA AmenitiesPool
other exterior FeaturesBalcony, Outdoor Living Area

Financial

Sales Price$5,750,000
Real Estate Tax $58,197/yr
Zoning RM-20

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Pompano Beach

26.2306° N, 80.1251° W

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