211 2Nd Ct Pompano Beach, FL 33060
- Apartment buildings
- 2,324 SF
- 0.22 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 211 2Nd Ct
- Year built
- 1954
- Lot size
- 0.22 lot acres
- Property size
- 2,324 SF
- Property type
- Apartment buildings
Description
This exceptional six-unit apartment building, located at 211 SW 2nd Ct in Pompano Beach, Florida, presents a compelling value-add investment opportunity. Built in 1954, this single-story, 2,324 square foot building sits on a 0.22-acre lot and boasts 100% occupancy. The property features hurricane impact windows, reducing insurance costs and ensuring long-term durability. Each unit is equipped with wall unit air conditioning. Currently generating a $44,440 NOI, with a 5.73% cap rate, a pro-forma NOI of $58,091 projects a 7.50% cap rate, indicating significant upside potential. The asking price is $775,000, or $129,167 per unit. The property benefits from its strategic location, less than a mile from Pompano Beach City Hall, an area undergoing significant redevelopment with new commercial, residential, and public projects. This proximity to ongoing development, coupled with below-market rents, positions this property for strong rental income growth and capital appreciation. Nearby amenities include the Pompano Beach Amphitheater, Pompano Community Park, and quality schools. The concrete block construction and recent upgrades contribute to the property's long-term investment value. This is a fee-simple ownership opportunity.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pompano Beach
- County
- Broward
- State
- Florida
- Longitude
- -80.1277
- Latitude
- 26.2284
