24-Unit Apartment
3111 NW 3rd Avenue #1-24, Pompano Beach, FL 33064
For Sale
$4,500,000
Apartments feature central A/C, new electrical breakers, and dedicated parking for residents.
Property Size18,667 SF
Lot Size1.37 Acres
Price / SF$241.07
Days on Market50
Property Features for 3111 NW 3rd Avenue #1-24
General Information
Standard status
Size
Lot size
Zoning
Units
Unit Mix
Multifamily Units
Parking per Unit
Additional Details
Gross Income
Highway Access
Taxes and HOA fees
Annual Taxes
Amenities
central A/C
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Elior Levi · License FL #3574869
(954) 743-7594
Source:
Laerrealty
Added: Sep 24
Changed: Oct 26
Last Checked: Nov 10 at 5:16AM
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
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Investment Insights
Based on property information with market context.
This multifamily portfolio comprises 24 apartments across six properties in Pompano Beach. The unit mix is evenly divided between 12 two-bedroom, two-bathroom apartments and 12 one-bedroom, one-bathroom apartments. Buildings total approximately 18,667 SF on a combined 59,636 SF of land. Central A/C, new electrical breakers, and two parking spaces per unit are among the existing features. The properties were built in 1974.
The portfolio is minutes from I-95 and Atlantic Boulevard, with access to Downtown Pompano Beach, retail corridors, employment centers, and the waterfront. An adjacent 22-unit apartment property is also available for a potential combined 46-unit acquisition.
The portfolio is minutes from I-95 and Atlantic Boulevard, with access to Downtown Pompano Beach, retail corridors, employment centers, and the waterfront. An adjacent 22-unit apartment property is also available for a potential combined 46-unit acquisition.
Key Highlights
- 24 apartments distributed across six properties
- Unit mix: 12 two‑bedroom/two‑bathroom units and 12 one‑bedroom/one‑bathroom units
- Approximately 18,667 SF of building area on 59,636 SF of combined land
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$286,753
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,735,060
$5.7M
Cap Rate 7%
$4,096,471
$4.1M
Cap Rate 9%
$3,186,144
$3.2M
Market Conditions
NOI Build-Up for 18,667 SF
Gross rent
$548.8K $29.40/SF
− Vacancy
−$27.4K −$1.47/SF
EGI
$521.4K $27.93/SF
− OpEx
−$234.6K −$12.57/SF
NOI
$286.8K $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%
$5,735,060
Cap Rate 7%
$4,096,471
Cap Rate 9%
$3,186,144
Alternative Uses
Best Use
Apartment 5plus
$4.10M
$3.58M – $4.78M
NOI $286,753 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.28M
$6.37M – $8.49M
NOI $509,609 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
24
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
874
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
$293,100
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in Pompano Beach, FL
Properties on Market for Apartment buildings in Pompano Beach
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartments feature central A/C, new electrical breakers, and dedicated parking for residents.
Where is this apartment building located?
The property is located at 3111 NW 3rd Avenue #1-24 Pompano Beach, FL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 24 apartments distributed across six properties; Unit mix: 12 two‑bedroom/two‑bathroom units and 12 one‑bedroom/one‑bathroom units; Approximately 18,667 SF of building area on 59,636 SF of combined land
