216 18Th Ave Pompano Beach, FL 33060

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.