Updated Duplex with Separate Electric
For Sale
Contact for pricing
321 SE 1st Avenue, Pompano Beach, FL 33060
Updated duplex offering two distinct units with hurricane-rated openings, updated central A/C, and separate electric meters.
Property Size1,766 SF
Price / SF$368.01
Days on Market533
Property Features for 321 SE 1st Avenue
General Information
Standard status
Active
Size
1,766 SF
Property subtype
Multifamily
Zoning
RD-1
Additional Details
Multifamily Units
2
Building Details
Year Built
1965
Units
2
Tenancy
Multi
Listing Agency:
Fidelity Real Estate Group
(954) 345-9144
Listed By:
Carlos Montoya · License #3647244
Source:
Crexi
Added: Feb 21, 2025
Changed: Aug 8
Last Checked: Aug 6 at 1:54PM
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 Fidelity Real Estate Group
Investment Insights
Based on property information with market context.
This updated duplex is configured as two separate residential units. The first unit features a 2-bedroom, 1-bathroom layout, and the second unit offers a large 1-bedroom, 1-bathroom arrangement. Both units include stackable washer and dryer, and both have separate electric meters for individualized utility service. Key improvements noted include hurricane impact windows and doors, a new PVC sewer line, and an updated central A/C system.
Located in the heart of Pompano Beach, the property is described as being just minutes to sandy beaches and shopping, supporting convenient day-to-day access for occupants. The duplex setup provides an owner-managed style of income property with two independent living spaces.
From an ownership standpoint, the mix of unit sizes can appeal to a range of renters while maintaining practical separation between electric service and unit amenities. The current annual gross income is reported at $39,000, with the seller indicating potential to increase to over $50,000. Annual expenses provided include taxes of $8,561, lawn maintenance of $720, insurance costs of $6,500, and water and trash totaling $1,800. Overall, the property is presented as suitable for both first-time and seasoned investors looking for an updated duplex in Pompano Beach.
Located in the heart of Pompano Beach, the property is described as being just minutes to sandy beaches and shopping, supporting convenient day-to-day access for occupants. The duplex setup provides an owner-managed style of income property with two independent living spaces.
From an ownership standpoint, the mix of unit sizes can appeal to a range of renters while maintaining practical separation between electric service and unit amenities. The current annual gross income is reported at $39,000, with the seller indicating potential to increase to over $50,000. Annual expenses provided include taxes of $8,561, lawn maintenance of $720, insurance costs of $6,500, and water and trash totaling $1,800. Overall, the property is presented as suitable for both first-time and seasoned investors looking for an updated duplex in Pompano Beach.
Key Highlights
- Updated duplex built in 1965 with two separate units: 2BR/1BA and large 1BR/1BA
- Hurricane impact windows and doors
- New PVC sewer line and updated central A/C system
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
$29,532
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
4.54%
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%
$590,640
$590.6K
Cap Rate 7%
$421,886
$421.9K
Cap Rate 9%
$328,133
$328.1K
Market Conditions
NOI Build-Up for 1,766 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
$44.5K $25.20/SF
− Vacancy
−$2.3K −$1.31/SF
EGI
$42.2K $23.89/SF
− OpEx
−$12.7K −$7.17/SF
NOI
$29.5K $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%
$590,640
Cap Rate 7%
$421,886
Cap Rate 9%
$328,133
Alternative Uses
Best Use
Multifamily LT 5
$421.9K
$369.2K – $492.2K
NOI $29,532 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$387.5K
$339.1K – $452.1K
NOI $27,128 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$688.7K
$602.7K – $803.5K
NOI $48,212 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,827
Businesses Nearby
Explore this area
Business Placement
Demographics for 33060, FL
35,793
Population
15,653
Households
2.3
Avg Household Size
39
Median Age
25%
College-Educated
82%
High-School Grad
7.0 sq mi
ZIP Area
5,113
Density / Sq Mi
$59,757
Median Household Income
$34,275
Median Earnings
$1,406
Median Rent
$354,100
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?
Duplex - Updated duplex offering two distinct units with hurricane-rated openings, updated central A/C, and separate electric meters.
Where is this duplex located?
The property is located at 321 SE 1st Avenue Pompano Beach, FL.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Updated duplex built in 1965 with two separate units: 2BR/1BA and large 1BR/1BA; Hurricane impact windows and doors; New PVC sewer line and updated central A/C system
