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    216 18Th Ave Pompano Beach, FL 33060

    Sponsored
    For Sale
    $945,000

    Beachfront Value-Add Opportunity, 3 Units

    Property size:
    1,816 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This Pompano Beach triplex, located at 216 NE 18th Ave, presents a compelling value-add investment opportunity. The property, built in 1956, sits on a 6,800 square foot lot and comprises 1,816 square feet of building space and 1,916 square feet of net rentable area. The property features three units: a three-bedroom, one-bathroom; a one-bedroom, one-bathroom; and a studio. Four parking spaces are available. Currently operating as short-term rentals, the property generates a current NOI of $36,715, with a current cap rate of 3.89%. However, a pro-forma NOI of $54,280 and a pro-forma cap rate of 5.74% indicate significant upside potential through rent increases. The asking price is $945,000, or $315,000 per unit. The property is fully furnished and includes on-site laundry. Current rents, which include utilities and streaming services, total $5,590 per month. The property is conveniently located just 1.2 miles from the beach. All information is approximate; buyers should verify details independently. The property is tenant-occupied; drive-by viewing only. This is a fee simple ownership. The APN is 4842-36-01-1210.

    Property Features for 216 18Th Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    1,816 SF

    Building Details

    Year Built
    1956
    Buildings
    1
    Stories
    1
    Units
    3

    HighLights

    • $945,000 asking price for this value‑add multifamily investment opportunity.
    • Three‑unit apartment building in Pompano Beach, FL.
    • 1,916 square feet of net rentable space, on a 6,800 square foot lot.
    • Currently generating $36,715 NOI, with a pro‑forma NOI of $54,280.
    • 3.89% cap rate, and a pro‑forma cap rate of 5.74%.
    • Priced at $315,000 per unit.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pompano Beach
    County
    Broward
    State
    Florida
    Longitude
    -80.105962147243
    Latitude
    26.234464591041

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    FAQs

    What type of property is this?
    Multifamily property - Beachfront Value-Add Opportunity, 3 Units
    Where is this multifamily property located?
    The property is located at 216 18Th Ave Pompano Beach, FL.
    What is the asking price?
    The asking price for this property is $945,000.
    What are key features of this property?
    This property features: $945,000 asking price for this value-add multifamily investment opportunity.; Three-unit apartment building in Pompano Beach, FL.; 1,916 square feet of net rentable space, on a 6,800 square foot lot.
    Request Owner's contact information
    216 18Th Ave Pompano Beach, FL 33060
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    Pompano Beach, FL 33060
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    216 18Th Ave Pompano Beach, FL 33060
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