5,880 SqFt
5,880 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 5,880 sqft
Price per Sqft $339
Subdivision Santa Barbara Estates
MLS Listing ID A12032534
Style Fourplex
HOA Y/N No
Year Built 1970
Annual Tax Amount $36,765
Tax Year 2025
Property Sub-Type Quadruplex
Property Description
The property consists of 10 renovated one-bedroom, one-bathroom units within a well-maintained concrete building totaling approximately 5,880 SF. Units feature updated interiors and central air conditioning, and residents have access to an on-site coin laundry facility. The asset currently generates $209,880 in gross annual income and is offered at a 7.29% cap rate, providing strong in-place cash flow.
The property offers additional upside potential through continued rental rate optimization. Market-rate rents are projected to increase gross annual income to more than $224,000, resulting in an estimated 8.0% cap rate.
Supported by more than $2 billion in ongoing redevelopment throughout Pompano Beach, the property is well-positioned to benefit from continued growth, rising rental demand, and long-term appreciation. This is an exceptional opportunity to acquire a renovated, income-producing asset in one of South Florida's most desirable coastal markets.
Location
State FL
County Broward
Community Santa Barbara Estates
Area 3233
Interior
Heating Central, Other
Cooling Central Air
Flooring Other, Tile
Exterior
Pool None
Utilities Available Cable Available
Roof Type Other
Total Parking Spaces 11
Private Pool No
Building
Lot Description < 1/4 Acre
Story 2
Sewer Public Sewer
Architectural Style Fourplex
Level or Stories Two
Structure Type Block,Other
Others
Tax ID 494306070060
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12032534
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