7-Unit Apartment
620 SW 7th Street 1-7, Pompano Beach, FL 33060
For Sale
$1,450,000
Fully occupied apartments include one-bedroom, two-bedroom, and studio layouts, with tenant electricity separately metered.
Property Size4,716 SF
Price / SF$307.46
Days on Market12
Property Features for 620 SW 7th Street 1-7
General Information
Standard status
Size
Property subtype
Occupancy
Financials
Cap Rate
Gross Income
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
RPM LUXE REALTY
Listed By:
Rodger P Morelli · License FL #3059403
(561) 929-7317
Source:
Pamandtoni
Added: Nov 1
Changed: Nov 11
Last Checked: Nov 10 at 4:00PM
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 RPM LUXE REALTY
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Investment Insights
Based on property information with market context.
This 7-unit apartment property contains three 2-bedroom/1-bath units, three 1-bedroom/1-bath units, and a large studio. The 4,716-square-foot building was constructed in 1973 and has a new roof and impact windows. All units are occupied, with tenants in place for extended periods since the current owner acquired the property and completed updates.
Apartment electricity is separately metered and paid by tenants. The property has a 6.5% current cap rate and an 8% pro forma cap rate.
Apartment electricity is separately metered and paid by tenants. The property has a 6.5% current cap rate and an 8% pro forma cap rate.
Key Highlights
- Seven apartments: three 2‑bedroom/1‑bath units, three 1‑bedroom/1‑bath units, and one large studio
- 100% occupancy with long‑term tenants
- 4,716 square feet; built in 1973
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,445
Cap Rate
5.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,448,900
$1.4M
Cap Rate 7%
$1,034,929
$1.0M
Cap Rate 9%
$804,944
$804.9K
Market Conditions
NOI Build-Up for 4,716 SF
Gross rent
$138.7K $29.40/SF
− Vacancy
−$6.9K −$1.47/SF
EGI
$131.7K $27.93/SF
− OpEx
−$59.3K −$12.57/SF
NOI
$72.4K $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%
$1,448,900
Cap Rate 7%
$1,034,929
Cap Rate 9%
$804,944
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$905.6K – $1.21M
NOI $72,445 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $128,747 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
7
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,769
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
$354,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Fully occupied apartments include one-bedroom, two-bedroom, and studio layouts, with tenant electricity separately metered.
Where is this apartment building located?
The property is located at 620 SW 7th Street 1-7 Pompano Beach, FL.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Seven apartments: three 2‑bedroom/1‑bath units, three 1‑bedroom/1‑bath units, and one large studio; 100% occupancy with long‑term tenants; 4,716 square feet; built in 1973
