Solar-Powered Income
For Sale
$539,900
1885 NE 53rd Street, Pompano Beach, FL 33064
Two detached residential units on one lot include a legal efficiency unit and a full solar power system.
Property Size2,009 SF
Price / SF$268.74
Days on Market93
Property Features for 1885 NE 53rd Street
General Information
Standard status
Active
Size
2,009 SF
Property subtype
Multifamily
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1955
Listing Agency:
United Realty Group Inc
(954) 450-2000
Listed By:
Roberto L Barreto · License #3198539
(954) 243-8678
Source:
Lehmannflorida
Added: Jul 24
Changed: Oct 23
Last Checked: Oct 23 at 9:40AM
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 United Realty Group Inc
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Investment Insights
Based on property information with market context.
This income-producing property features two detached living units on a single lot, designed to support separate living arrangements. The main home includes approximately 1,675 square feet, with 6 bedrooms and 2 bathrooms, and is currently rented. A rear separate efficiency unit includes approximately 240 square feet with 1 bedroom, 1 bathroom, and a full kitchen.
The property is located in East Pompano Beach just west of US-1, with shopping, beaches, and major highways nearby. A full solar power system is included and the public remarks state there is no electric bill.
The total stated rental income is $6,000 per month, with the main home generating $4,800 per month and the efficiency unit generating $1,200 per month. Showings are by appointment only and tenants should not be disturbed.
The property is located in East Pompano Beach just west of US-1, with shopping, beaches, and major highways nearby. A full solar power system is included and the public remarks state there is no electric bill.
The total stated rental income is $6,000 per month, with the main home generating $4,800 per month and the efficiency unit generating $1,200 per month. Showings are by appointment only and tenants should not be disturbed.
Key Highlights
- Two detached residential units on one lot, including a legal efficiency unit
- Main home: approx. 1,675 SF with 6 bedrooms and 2 bathrooms; currently rented for $4,800/month
- Rear efficiency unit: approx. 240 SF with 1 bedroom, 1 bathroom, and a full kitchen; currently rented for $1,200/month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,596
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$671,920
$671.9K
Cap Rate 7%
$479,943
$479.9K
Cap Rate 9%
$373,289
$373.3K
Market Conditions
NOI Build-Up for 2,009 SF
Gross rent
$50.6K $25.20/SF
− Vacancy
−$2.6K −$1.31/SF
EGI
$48.0K $23.89/SF
− OpEx
−$14.4K −$7.17/SF
NOI
$33.6K $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%
$671,920
Cap Rate 7%
$479,943
Cap Rate 9%
$373,289
Alternative Uses
Best Use
Multifamily LT 5
$479.9K
$420.0K – $559.9K
NOI $33,596 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$440.9K
$385.8K – $514.4K
NOI $30,861 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$783.5K
$685.6K – $914.1K
NOI $54,846 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,452
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two detached residential units on one lot include a legal efficiency unit and a full solar power system.
Where is this duplex located?
The property is located at 1885 NE 53rd Street Pompano Beach, FL.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: Two detached residential units on one lot, including a legal efficiency unit; Main home: approx. 1,675 SF with 6 bedrooms and 2 bathrooms; currently rented for $4,800/month; Rear efficiency unit: approx. 240 SF with 1 bedroom, 1 bathroom, and a full kitchen; currently rented for $1,200/month
