221 11Th Ave Pompano Beach, FL 33060
- Small apartment buildings
- 2,327 SF
Current Use by Public Records
- Small apartment buildings
Property Details for 221 11Th Ave
- Year built
- 1970
- Property size
- 2,327 SF
- Property type
- Small apartment buildings
Description
This exceptional investment opportunity presents a well-maintained, single-story triplex located at 221 SE 11th Ave, Pompano Beach, FL 33060. The property, built in 1970, boasts 2,327 square feet on a 6,001 square foot lot and features three units, each with two bedrooms and one bathroom. Currently generating a Net Operating Income (NOI) of $22,041, with a projected NOI of $39,480, this property offers a compelling return on investment. The current cap rate stands at 3.15%, while projections indicate a 5.65% cap rate. The asking price is $699,000, translating to $233,000 per unit. Situated near Atlantic Boulevard, the property benefits from convenient access to shopping, dining, and entertainment. Zoned RD-1, this triplex is ideally positioned within a rapidly redeveloping area of Pompano Beach, characterized by strong demographics including a population of 17,068 and an average household income of $85,373 within a 1-mile radius. Extensive improvements have been made since 2012, ensuring the property is well-maintained and ready for immediate income generation. This presents a strong opportunity for investors seeking a stable and potentially high-growth multifamily investment in a thriving South Florida market.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pompano Beach
- County
- Broward
- State
- Florida
- Longitude
- -80.1128086
- Latitude
- 26.2300506
