Pompano Beach, FL 33062,1020 N Riverside DR
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Luxury Partners Realty

Luxury Partners Realty

+1(561) 819-5600
Listed by Compass Florida LLC
$5,799,000
Est. payment /mo
2 Baths
10,642 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quad Plex

Listing Status Active

Purchase Type For Sale

Square Footage 10,642 sqft

Price per Sqft $544

Subdivision Pompano By The Sea

MLS Listing ID RX-11155485

Full Baths 2

Construction Status Resale

HOA Y/N No

Year Built 1964

Annual Tax Amount $58,197

Tax Year 2025

Lot Size 0.575 Acres

Property Sub-Type Quad Plex

Property Description

RARE OPPORTUNITY TO ACQUIRE AN 8.0% CAP RATE PROPERTY! Incredible opportunity to acquire a 28-unit multifamily property located just steps from the beach in booming Pompano Beach. The property is approximately 70% leased and in the process of being fully stabilized, offering immediate upside for investors. At full occupancy, the asset is projected to gross $50,000 per month in long term rental income and an additional $150,000+ from vacation rentals, with an NOI approaching $500,000 annually--making this a high-yielding cash-flow investment. Located less than 300 yards from Pompano's pristine public beaches! Views of both the intracoastal and the ocean!

Location

State FL

County Broward

Community Pompano By The Sea

Area 3113

Zoning RM-20

Interior

Heating Central Building, Central Individual, Electric

Cooling Ceiling Fan, Central Individual, Electric

Flooring Tile, Vinyl Floor

Exterior

Exterior Feature Auto Sprinkler, Covered Balcony, Deck, Fence, Open Porch

Pool Inground

Community Features Sold As-Is

Utilities Available Public Sewer, Public Water

Amenities Available Pool

Waterfront Description None

View Intracoastal, Ocean

Roof Type Comp Shingle

Present Use Sold As-Is

Private Pool Yes

Building

Lot Description 1/2 to < 1 Acre

Story 2.0

Foundation CBS

Construction Status Resale

Others

Senior Community No Hopa

Restrictions Maximum # Vehicles,None

Acceptable Financing Cash, Conventional, Owner

Listing Terms Cash, Conventional, Owner

Financing Cash,Conventional,Owner

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Luxury Partners Realty

Luxury Partners Realty

+1(561) 819-5600

Broker | License ID: BK613860

Broker License ID: BK613860

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