PROPERTY 1020 Riverside Drive, Pompano Beach, FL 33062, MLS#R11155485

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1020 Riverside Drive, Pompano Beach, FL 33062

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Priced at Only: $5,799,000

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Address: 1020 Riverside Drive, Pompano Beach, FL 33062

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MLS#: R11155485 ( Residential Income )
Street Address: 1020 Riverside Drive
Viewed: 9
Price: $5,799,000
Price sqft: $361
Waterfront: No
Year Built: 1964
Bldg sqft: 16086
Total Baths: 2
Days On Market: 10

Additional Information
Geolocation: 26 / -80
County: Broward
City: Pompano Beach
Zipcode: 33062
Subdivision: Pompano By The Sea
Provided by: Compass Florida LLC
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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!

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Features

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

Zoning Code: RM-20

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