Triplex With All Units
For Sale
$599,000
3024 NW 2nd St, Pompano Beach, FL 33069
MULTI_FAMILY - Pompano Beach, FL
Property Size1,914 SF
Price / SF$312.96
Days on Market38
Property Features for 3024 NW 2nd St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
RD-1
Bedrooms
7
Full bathrooms
3
Rooms
Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 7, Bedroom 6, Bedroom 1, Bedroom 3, Bathroom 3
Parking
4
Subdivision
o33-48-42 W 50 OF E 385 O
Lot features
< 1/4 Acre
Standard status
Active
APN
484233047650
Size
1,914 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
33-48-42 W 50 OF E 385 OF S1/5 OF NE1/4 OF SW1/4 OF SW1/4 LESS N 25 FOR ST A/K/A 1152 CC
Tax Annual Amount
10974
Legal Description
33-48-42 W 50 OF E 385 OF S1/5 OF NE1/4 OF SW1/4 OF SW1/4 LESS N 25 FOR ST A/K/A 1152 CC
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1966
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Florida Brokers Real Estate
(954) 640-9111
Listed By:
Natasha Olsak · License #3421435
(561) 305-0084
Added: Jul 7
Changed: Aug 3
Last Checked: Aug 13 at 1:06AM
MLS# A12048894
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a triplex offered as-is with all units rented. The property is a block construction building with tile flooring and central heating with central air conditioning. The interior configuration includes multiple bedrooms and bathrooms across the three units.
Several key building systems are on the schedule described: new ducts, most AC units from 2018–2020, and most water heaters from 2017–2020. The roof is shingle and is from 2006 and will need work. There is also a stated plan to close one AC violation only, and the City requires mandatory security cameras operating 24/7.
Utilities include cable available and public sewer. Showings are available only with an accepted offer.
Several key building systems are on the schedule described: new ducts, most AC units from 2018–2020, and most water heaters from 2017–2020. The roof is shingle and is from 2006 and will need work. There is also a stated plan to close one AC violation only, and the City requires mandatory security cameras operating 24/7.
Utilities include cable available and public sewer. Showings are available only with an accepted offer.
Key Highlights
- All units rented, triplex sold as‑is
- New ducts; most AC units from 2018–2020
- Most water heaters from 2017–2020
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,007
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$640,140
$640.1K
Cap Rate 7%
$457,243
$457.2K
Cap Rate 9%
$355,633
$355.6K
Market Conditions
NOI Build-Up for 1,914 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.2K $25.20/SF
− Vacancy
−$2.5K −$1.31/SF
EGI
$45.7K $23.89/SF
− OpEx
−$13.7K −$7.17/SF
NOI
$32.0K $16.72/SF
Area
Pompano Beach, FL
Vacancy
5.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$640,140
Cap Rate 7%
$457,243
Cap Rate 9%
$355,633
Alternative Uses
Best Use
Multifamily LT 5
$457.2K
$400.1K – $533.5K
NOI $32,007 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$420.0K
$367.5K – $490.0K
NOI $29,402 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$746.5K
$653.2K – $870.9K
NOI $52,252 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,016
Businesses Nearby
Explore this area
Business Placement
Demographics for 33069, FL
28,817
Population
16,052
Households
1.8
Avg Household Size
42
Median Age
32%
College-Educated
86%
High-School Grad
9.4 sq mi
ZIP Area
3,066
Density / Sq Mi
$57,462
Median Household Income
$35,725
Median Earnings
$1,685
Median Rent
$253,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex offered as-is with all units rented, central HVAC, and cable and public sewer services.
Where is this triplex located?
The property is located at 3024 NW 2nd St Pompano Beach, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: All units rented, triplex sold as‑is; New ducts; most AC units from 2018–2020; Most water heaters from 2017–2020
