Triplex with Individual
New
For Sale
$599,900
1-3-616 Nw 3rd Ave, Pompano Beach, FL 33441
Three updated residences have separate electric meters and established long-term occupancy.
Property Size2,119 SF
Price / SF$283.11
Days on Market6
Property Features for 1-3-616 Nw 3rd Ave
General Information
Standard status
Active
Size
2,119 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Individually Metered Utilities
electricity
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,684
Building Details
Tenancy
Multi
Listing Agency:
Bank On It Realty
(954) 515-0030
Listed By:
Eugene J Schroeder · License #687483
(954) 816-4363
Source:
Exprealty
Added: Oct 23
Changed: Oct 27
Last Checked: Oct 27 at 4:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bank On It Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 2,119-square-foot triplex contains two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. Interior updates and modern finishes are in place, and each residence has its own electric meter. All three units are occupied by long-term tenants. Property management is available for continued use if desired.
A roof replacement is scheduled before closing, with a permit already obtained.
A roof replacement is scheduled before closing, with a permit already obtained.
Key Highlights
- 2,119‑square‑foot triplex with two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- All three units are occupied by long‑term tenants
- Separate electric meters serve each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,435
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$708,700
$708.7K
Cap Rate 7%
$506,214
$506.2K
Cap Rate 9%
$393,722
$393.7K
Market Conditions
NOI Build-Up for 2,119 SF
Gross rent
$53.4K $25.20/SF
− Vacancy
−$2.8K −$1.31/SF
EGI
$50.6K $23.89/SF
− OpEx
−$15.2K −$7.17/SF
NOI
$35.4K $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 Rate 5%
$708,700
Cap Rate 7%
$506,214
Cap Rate 9%
$393,722
Alternative Uses
Best Use
Multifamily LT 5
$506.2K
$442.9K – $590.6K
NOI $35,435 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$465.0K
$406.9K – $542.5K
NOI $32,551 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$826.4K
$723.1K – $964.2K
NOI $57,849 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,651
Businesses Nearby
Explore this area
Business Placement
Demographics for 33441, FL
29,311
Population
15,225
Households
1.9
Avg Household Size
43
Median Age
28%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,106
Density / Sq Mi
$57,257
Median Household Income
$35,163
Median Earnings
$1,544
Median Rent
$381,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three updated residences have separate electric meters and established long-term occupancy.
Where is this triplex located?
The property is located at 1-3-616 Nw 3rd Ave Pompano Beach, FL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 2,119‑square‑foot triplex with two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; All three units are occupied by long‑term tenants; Separate electric meters serve each unit
