55+ Apartment Condo with Pool
For Sale
$159,900
3205 SE 7th Street, Pompano Beach, FL 33062
MULTI_FAMILY - Pompano Beach, FL
Property Size560 SF
Price / SF$285.54
Days on Market213
Property Features for 3205 SE 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-20
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1
Appliances
Electric Range, Refrigerator
Subdivision
FAIRBANKS MANOR CO-OP
Directions
Atlantic blvd to A1A go 7 blocks south on west side
Standard status
Active
APN
494306ns0150
Size
560 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
FAIRBANKS MANOR CO-OP UNIT 206
Tax Annual Amount
3219
Expense value
100
Expense
Application Fee
Expense freq.
One Time
HOA Fee
$291 Monthly
Legal Description
FAIRBANKS MANOR CO-OP UNIT 206
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
heated pool
BBQ area
laundry facilities
Building Details
Year built
1960
Floors in Building
2
Flooring type
Vinyl
Building materials
CBS, Concrete
Listing Agency:
Tolliver Prince Realty
(561) 306-4303
Listed By:
Nicole Prince · License #3546278
(561) 719-3305
Added: Jan 6
Changed: Aug 5
Last Checked: Aug 7 at 6:06AM
MLS# R11151947
Copyright © 2026 BeachesMLS. 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.
Apartment condominium unit offered for sale in a well-kept 16-unit community within a RM-20 zoning district. The residence is a bright second-floor 1-bedroom, 1-bath layout with south-facing orientation and pool views.
Community amenities include a heated pool, BBQ area, and laundry facilities, along with one assigned parking space and low HOA fees. The property is described as being a five-minute walk to the beach.
The unit is reported to feature new impact windows and doors, new central A/C, a newer water heater, fresh paint, a new kitchen ceiling, and new flooring throughout. Rentals are allowed after two years of ownership, with exceptions noted for the 55+ community. The remarks also state no pets, no LLC or corporate ownership, and no assessments.
Community amenities include a heated pool, BBQ area, and laundry facilities, along with one assigned parking space and low HOA fees. The property is described as being a five-minute walk to the beach.
The unit is reported to feature new impact windows and doors, new central A/C, a newer water heater, fresh paint, a new kitchen ceiling, and new flooring throughout. Rentals are allowed after two years of ownership, with exceptions noted for the 55+ community. The remarks also state no pets, no LLC or corporate ownership, and no assessments.
Key Highlights
- Five‑minute walk to the beach.
- New impact windows and doors, new central AC, newer water heater, fresh paint, new kitchen ceiling, and new flooring throughout.
- Low HOA fees.
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
$8,602
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
5.38%
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%
$172,040
$172.0K
Cap Rate 7%
$122,886
$122.9K
Cap Rate 9%
$95,578
$95.6K
Market Conditions
NOI Build-Up for 560 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
$16.5K $29.40/SF
− Vacancy
−$823 −$1.47/SF
EGI
$15.6K $27.93/SF
− OpEx
−$7.0K −$12.57/SF
NOI
$8.6K $15.36/SF
Area
Pompano Beach, FL
Vacancy
5.00%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
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%
$172,040
Cap Rate 7%
$122,886
Cap Rate 9%
$95,578
Alternative Uses
Best Use
Apartment 5plus
$122.9K
$107.5K – $143.4K
NOI $8,602 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$218.4K
$191.1K – $254.8K
NOI $15,288 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,166
Businesses Nearby
Explore this area
Business Placement
Demographics for 33062, FL
25,293
Population
23,059
Households
1.1
Avg Household Size
60
Median Age
48%
College-Educated
94%
High-School Grad
3.9 sq mi
ZIP Area
6,485
Density / Sq Mi
$82,955
Median Household Income
$56,828
Median Earnings
$1,888
Median Rent
$511,800
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?
Apartment building - Second-floor 1BR/1BA condo in a 16-unit 55+ community with an assigned parking space and community amenities.
Where is this apartment building located?
The property is located at 3205 SE 7th Street Pompano Beach, FL.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Five‑minute walk to the beach.; New impact windows and doors, new central AC, newer water heater, fresh paint, new kitchen ceiling, and new flooring throughout.; Low HOA fees.
