Updated Duplex with Separate Electric
321 SE 1st Avenue, Pompano Beach, FL 33060
For Sale
$649,900
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 Market615
Property Features for 321 SE 1st Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Tenancy
Listing Agency:
Fidelity Real Estate Group LLC
(954) 345-9144
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Source:
Exitrealty
Added: Mar 3, 2025
Changed: Oct 25
Last Checked: Oct 1 at 10:53AM
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 LLC
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Investment Insights
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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 / Yr
$29,532
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,789
Businesses Nearby
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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
$354,100
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Pompano Beach, FL
Properties on Market for Duplexes in Pompano Beach
Vacancy Rate% for Multifamily in South region
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
