Pompano Beach Fourplex Investment
1231 NE 23rd Ave, Pompano Beach, FL 33062
For Sale
$1,100,000
Cash-flowing fourplex in Pompano Beach with value-add potential.
Property Size2,887 SF
Days on Market243
Property Features for 1231 NE 23rd Ave
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Compra Venta Miami
Listed By:
Victor Persia · License #FL 3194931
(786) 285-1871
Source:
Elliman
Added: Mar 10
Changed: Oct 25
Last Checked: Nov 6 at 8:48AM
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 Compra Venta Miami
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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.
This multi-family property is a fourplex located in Pompano Beach. The property offers immediate returns with three tenants already in place, plus one vacant unit. The property is located minutes from beaches, retail, and employment centers, offering stable income and upside potential.
Key Highlights
- Cash‑flowing fourplex with immediate returns.
- Located in the high‑demand Pompano Beach rental market.
- Three units are currently occupied with stable tenants.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,278
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$965,560
$965.6K
Cap Rate 7%
$689,686
$689.7K
Cap Rate 9%
$536,422
$536.4K
Market Conditions
NOI Build-Up for 2,887 SF
Gross rent
$72.8K $25.20/SF
− Vacancy
−$3.8K −$1.31/SF
EGI
$69.0K $23.89/SF
− OpEx
−$20.7K −$7.17/SF
NOI
$48.3K $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%
$965,560
Cap Rate 7%
$689,686
Cap Rate 9%
$536,422
Alternative Uses
Best Use
Multifamily LT 5
$689.7K
$603.5K – $804.6K
NOI $48,278 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$633.6K
$554.4K – $739.2K
NOI $44,349 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$1.13M
$985.2K – $1.31M
NOI $78,815 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,001
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
$511,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Quadplexes in Pompano Beach, FL
Properties on Market for Quadplexes in Pompano Beach
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Cash-flowing fourplex in Pompano Beach with value-add potential.
Where is this quadplex located?
The property is located at 1231 NE 23rd Ave Pompano Beach, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Cash‑flowing fourplex with immediate returns.; Located in the high‑demand Pompano Beach rental market.; Three units are currently occupied with stable tenants.
