Updated Quadplex With Renovated
For Sale
$1,500,000
7701 Nw 56th Ave, Pompano Beach, FL 33073
Four-unit residential income property with substantial building improvements and updated interiors across all units.
Property Size3,220 SF
Price / SF$465.84
Days on Market58
Property Features for 7701 Nw 56th Ave
General Information
Standard status
Active
Size
3,220 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,296
Building Details
Buildings
1
Listing Agency:
The Keyes Company
(954) 467-0105
Listed By:
Charles Leslie Waites · License #3087729
(954) 687-5160
Source:
Exprealty
Added: Aug 26
Changed: Oct 14
Last Checked: Oct 20 at 8:54PM
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 The Keyes Company
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Investment Insights
Based on property information with market context.
This four-unit residential property contains 3,220 square feet and has received improvements at both the unit and building levels. Interior work includes renovated kitchens, selected baths, updated paint and millwork, ceramic or waterproof luxury vinyl flooring, 2020 A/C systems in Units 1 and 3, and newer water heaters in Units 2, 3, and 4. Building-wide improvements include a new roof, impact windows and doors, updated electrical panels, PVC piping, fencing, pavers, and landscaping.
The property is in Hillsboro Pines within unincorporated Broward County, with access to shopping, dining, Florida Turnpike, and Sawgrass Expressway. The landlord currently pays water and electricity for Units 2 and 4, while electric submetering is used to bill tenants for usage. The building is tenant occupied, and showings require 24–48 hours’ notice through the listing agent.
The property is in Hillsboro Pines within unincorporated Broward County, with access to shopping, dining, Florida Turnpike, and Sawgrass Expressway. The landlord currently pays water and electricity for Units 2 and 4, while electric submetering is used to bill tenants for usage. The building is tenant occupied, and showings require 24–48 hours’ notice through the listing agent.
Key Highlights
- Four‑unit property with 3,220 square feet
- New roof, impact windows and doors, updated electrical panels, and PVC piping
- Unit 1 includes a 2020 A/C, updated kitchen and bath, and waterproof luxury vinyl flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,847
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,076,940
$1.1M
Cap Rate 7%
$769,243
$769.2K
Cap Rate 9%
$598,300
$598.3K
Market Conditions
NOI Build-Up for 3,220 SF
Gross rent
$81.1K $25.20/SF
− Vacancy
−$4.2K −$1.31/SF
EGI
$76.9K $23.89/SF
− OpEx
−$23.1K −$7.17/SF
NOI
$53.8K $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%
$1,076,940
Cap Rate 7%
$769,243
Cap Rate 9%
$598,300
Alternative Uses
Best Use
Multifamily LT 5
$769.2K
$673.1K – $897.5K
NOI $53,847 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$706.6K
$618.3K – $824.4K
NOI $49,464 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $87,906 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
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Who owns this building?
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Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,115
Businesses Nearby
Explore this area
Business Placement
Demographics for 33073, FL
32,853
Population
12,708
Households
2.6
Avg Household Size
38
Median Age
38%
College-Educated
93%
High-School Grad
8.1 sq mi
ZIP Area
4,056
Density / Sq Mi
$99,269
Median Household Income
$50,754
Median Earnings
$2,193
Median Rent
$453,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential income property with substantial building improvements and updated interiors across all units.
Where is this quadplex located?
The property is located at 7701 Nw 56th Ave Pompano Beach, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Four‑unit property with 3,220 square feet; New roof, impact windows and doors, updated electrical panels, and PVC piping; Unit 1 includes a 2020 A/C, updated kitchen and bath, and waterproof luxury vinyl flooring
