Updated
New
For Sale
$599,900
616 NW 3rd Avenue #1-3, Pompano Beach, FL 33060
Three separately metered apartments are occupied by long-term tenants, with management available for continued operations.
Property Size2,119 SF
Price / SF$283.11
Days on Market2
Property Features for 616 NW 3rd Avenue #1-3
General Information
Standard status
Active
Size
2,119 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
RM-12
Occupancy
100%
Units
Unit Mix
2 x 2/1, 1 x 1/1
Multifamily Units
3
Individually Metered Utilities
electricity
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,684
Building Details
Building Size
2,119 SF
Year Built
1971
Stories
1
Listing Agency:
Bank On It Realty
Listed By:
Eugene J Schroeder · License #687483
(954) 816-4363
Source:
Laerrealty
Added: Oct 24
Last Checked: Oct 24 at 3:11PM
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 Bank On It Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This RM-12-zoned triplex contains 2,119 square feet across three apartments: two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. The property was built in 1971, and each unit has updated finishes. A roof replacement is planned before closing, with a permit already obtained.
All three apartments are leased to long-term tenants. Each unit has an individual electric meter, and tenants pay for their electricity. The owner covers water, and management is available for the property.
All three apartments are leased to long-term tenants. Each unit has an individual electric meter, and tenants pay for their electricity. The owner covers water, and management is available for the property.
Key Highlights
- Three units: two 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment
- 2,119 square feet; built in 1971
- RM‑12 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,435
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$708,700
$708.7K
Cap Rate 7%
$506,214
$506.2K
Cap Rate 9%
$393,722
$393.7K
Market Conditions
NOI Build-Up for 2,119 SF
Gross rent
$53.4K $25.20/SF
− Vacancy
−$2.8K −$1.31/SF
EGI
$50.6K $23.89/SF
− OpEx
−$15.2K −$7.17/SF
NOI
$35.4K $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%
$708,700
Cap Rate 7%
$506,214
Cap Rate 9%
$393,722
Alternative Uses
Best Use
Multifamily LT 5
$506.2K
$442.9K – $590.6K
NOI $35,435 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$465.0K
$406.9K – $542.5K
NOI $32,551 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$826.4K
$723.1K – $964.2K
NOI $57,849 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,576
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three separately metered apartments are occupied by long-term tenants, with management available for continued operations.
Where is this triplex located?
The property is located at 616 NW 3rd Avenue #1-3 Pompano Beach, FL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Three units: two 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment; 2,119 square feet; built in 1971; RM‑12 zoning
