30-Unit Apartment
New
For Sale
$5,700,000
1751 NE 31st St, Pompano Beach, FL 33064
Studio, one-bedroom, and two-bedroom layouts are complemented by laundry facilities both on site and within units.
Property Size16,817 SF
Lot Size0.64 Acres
Price / SF$338.94
Days on Market5
Property Features for 1751 NE 31st St
General Information
Standard status
Active
Size
16,817 SF
Lot size
0.64 Acres
Property subtype
Multifamily
Zoning
B-3
Financials
Asking Price
$5,700,000
Cap Rate
6.08%
Units
Unit Mix
4 x studio, 22 x 1BR/1BA, 4 x 2BR/1BA
Multifamily Units
30
Additional Details
Highway Access
Yes
Amenities
laundry facilities
wall air conditioning
30-Unit Apartment Complex in Northeast Pompano Beach, just west of Lighthouse Point
Situated just east of Federal Highway (US-1) between Sample Road and Atlantic Boulevard
Avg Household Income of ~$100,000 within 1-Mile and 12% Population Growth since 2010
(4) Studios, (22) One-Bedrooms and (4) Two-Bedroom Apartments with Electric Appliances
Mix of Renovated and Classic Units Offering Upside in Completing Final Interior Upgrades
Central Courtyard with Swimming Pool, On-Site Laundry and Parking in the Front and Rear
Near Shoppers Haven Center, Publix Super Market, Pompano Citi Centre, Pompano Air Park
Building Details
Building Size
16,817 SF
Year Built
1964
Buildings
1
Stories
2
Units
30
Construction
concrete block
Listing Agency:
Fort Lauderdale Office
Listed By:
Joe Thomas · License #License(s): FL: SL3174354
(954) 245-3492
Source:
Marcusmillichap
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 3:27AM
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 Fort Lauderdale Office
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Investment Insights
Based on property information with market context.
The 30-unit community occupies one two-story concrete block building with a painted stucco exterior and shingle roof. Constructed in 1964, it contains 16,817 square feet on a 27,750-square-foot lot, or 0.64 acres. The mix consists of four studios averaging 500 square feet, 22 one-bedroom, one-bathroom apartments averaging 550 square feet, and four two-bedroom, one-bathroom apartments averaging 675 square feet. Laundry facilities are available in units and on site; other features include wall air conditioning and paved asphalt parking. The property is zoned B-3, and renovations vary among the units.
In Pompano Beach, the property has access to Federal Highway (US-1), Sample Road, and State Road A1A. Nearby destinations include Shoppers Haven Shopping Center, Publix, CVS, Whole Foods Market, and Pompano Citi Centre. The source also identifies Pompano Beach Airpark 1.9 miles away and Hillsboro Inlet 3.6 miles away.
In Pompano Beach, the property has access to Federal Highway (US-1), Sample Road, and State Road A1A. Nearby destinations include Shoppers Haven Shopping Center, Publix, CVS, Whole Foods Market, and Pompano Citi Centre. The source also identifies Pompano Beach Airpark 1.9 miles away and Hillsboro Inlet 3.6 miles away.
Key Highlights
- 30 apartments in one two‑story concrete block building, constructed in 1964
- 16,817 square feet of building area on a 27,750‑square‑foot lot (0.64 acres)
- Unit mix: 4 studios averaging 500 square feet; 22 one‑bedroom/one‑bathroom units averaging 550 square feet; 4 two‑bedroom/one‑bathroom units averaging 675 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$258,334
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,166,680
$5.2M
Cap Rate 7%
$3,690,486
$3.7M
Cap Rate 9%
$2,870,378
$2.9M
Market Conditions
NOI Build-Up for 16,817 SF
Gross rent
$494.4K $29.40/SF
− Vacancy
−$24.7K −$1.47/SF
EGI
$469.7K $27.93/SF
− OpEx
−$211.4K −$12.57/SF
NOI
$258.3K $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 Rate 5%
$5,166,680
Cap Rate 7%
$3,690,486
Cap Rate 9%
$2,870,378
Alternative Uses
Best Use
Apartment 5plus
$3.69M
$3.23M – $4.31M
NOI $258,334 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.56M
$5.74M – $7.65M
NOI $459,104 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
30
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,385
Businesses Nearby
Explore this area
Business Placement
Demographics for 33064, FL
62,429
Population
26,641
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
82%
High-School Grad
10.2 sq mi
ZIP Area
6,120
Density / Sq Mi
$66,269
Median Household Income
$35,090
Median Earnings
$1,689
Median Rent
$293,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Studio, one-bedroom, and two-bedroom layouts are complemented by laundry facilities both on site and within units.
Where is this apartment building located?
The property is located at 1751 NE 31st St Pompano Beach, FL.
What is the asking price?
The asking price for this property is $5,700,000.
What are key features of this property?
This property features: 30 apartments in one two‑story concrete block building, constructed in 1964; 16,817 square feet of building area on a 27,750‑square‑foot lot (0.64 acres); Unit mix: 4 studios averaging 500 square feet; 22 one‑bedroom/one‑bathroom units averaging 550 square feet; 4 two‑bedroom/one‑bathroom units averaging 675 square feet
