Renovated 10-Unit Multifamily
2255 SE 5th St Pompano Beach, FL 33062
2255 SE 5th St, Pompano Beach, FL, 33062
$1,995,000
For Sale
$1,995,000
Ten renovated one-bedroom, one-bath units in a concrete building with central air and on-site coin laundry.
Property Size5,880 SF
Price / SF$339.29
Days on Market41
Property Features for 2255 SE 5th St
General Information
- Standard status
- Active
- Size
- 5,880 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1970
Listing agency
Fausto Commercial Realty Consultants Inc
(954) 743-7594
Listed by
Elior Levi · License #3574869
(954) 743-7594
Source
Elliman
Added: Jun 12 Updated: Jul 21 at 6:06AM Checked: Jul 21 at 6:06AM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
Fausto Commercial presents 2255 SE 5th Street, a 10-unit multifamily investment in the Southeast Pompano Beach submarket. The property is housed in a well-maintained concrete building totaling approximately 5,880 SF and features 10 renovated one-bedroom, one-bathroom apartments. Each unit includes updated interiors and central air conditioning. Residents have access to an on-site coin laundry facility.
The building is located east of Federal Highway and is minutes from the beach, Pompano Beach Pier, dining, entertainment, and retail destinations, supporting everyday accessibility for residents.
The asset currently generates $209,880 in gross annual income and is offered at a 7.29% cap rate, with in-place cash flow. The property also provides additional upside potential through continued rental rate optimization, with projected gross annual income of more than $224,000 and an estimated 8.0% cap rate.
The building is located east of Federal Highway and is minutes from the beach, Pompano Beach Pier, dining, entertainment, and retail destinations, supporting everyday accessibility for residents.
The asset currently generates $209,880 in gross annual income and is offered at a 7.29% cap rate, with in-place cash flow. The property also provides additional upside potential through continued rental rate optimization, with projected gross annual income of more than $224,000 and an estimated 8.0% cap rate.
Key Highlights
- 10‑unit multifamily property in a well‑maintained concrete building totaling approx. 5,880 SF (built 1970).
- All units are renovated 1‑bedroom, 1‑bath with updated interiors.
- Central air conditioning in the units.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $172.9k | $29.40 |
| − Vacancy | −$8.6k | −$1.47 |
| EGI | $164.2k | $27.93 |
| − OpEx | −$73.9k | −$12.57 |
| NOI | $90.3k | $15.36 |
5,880 SF · lease $29.40/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,326 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.01M – $2.68M
NOI $160,524 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Ten renovated one-bedroom, one-bath units in a concrete building with central air and on-site coin laundry.
Where is this apartment building located?
The property is located at 2255 SE 5th St Pompano Beach, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 10‑unit multifamily property in a well‑maintained concrete building totaling approx. 5,880 SF (built 1970).; All units are renovated 1‑bedroom, 1‑bath with updated interiors.; Central air conditioning in the units.
