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POMPANO SEASIDE MULTIFAMILY COMPLEX 1020 N Riverside Dr 28 Unit Apartment Building $5,995,000 ($214,107/Unit) 7.06% Cap Rate Pompano Beach, FL 33062
INVESTMENT HIGHLIGHTS
- CASH COW APARTMENT BUILDING ON THE BARRIER ISLAND!
- ZONING ALLOWS FOR MULTIFAMILY, HOTEL/MOTEL, ASSISTED LIVING FACILITY, ETC.
- LESS THAN 300 YARDS FROM POMPANO'S PUBLIC BEACHES
EXECUTIVE SUMMARY
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 rental income (long term rents), with a net operating income approaching $425,000 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!
The unit mix consists of approximately 23 "studios" with each one having its own kitchenette and full bathroom. The remaining five(5) units consist of four (4) oversized studios and the largest unit is a full 1 BD, 1 BA unit. The studio units are rented on long term (annual) leases with an average price of approximately $1,800/month. The larger studios and the 1 BD, 1 BA are averaging closer to $2,000/month.
Ideally positioned east of the intracoastal and one block from the Intracoastal, the property is walkable to the beach, Pompano Pier, and the newly revitalized Fishing Village. This area has become a destination with major public and private investment pouring in, including high-end residential towers, hotel-branded residences, and infrastructure upgrades, including marquee projects like the Waldorf Astoria Residences (70% pre-sold), Ritz-Carlton and Armani/Casa towers, Salato condos, and Mayla multifamily communities — underscoring strong investor confidence. Pompano Beach’s transformation into a premier coastal hotspot makes this an attractive long-term hold.
With strong fundamentals, a desirable location, and significant income potential, this is a rare opportunity to invest in one of South Florida’s most exciting and fast-growing beachfront markets. Property is projected at a cap rare of 7.25% once property is fully leased out and stabilized. Contact today for more details
The unit mix consists of approximately 23 "studios" with each one having its own kitchenette and full bathroom. The remaining five(5) units consist of four (4) oversized studios and the largest unit is a full 1 BD, 1 BA unit. The studio units are rented on long term (annual) leases with an average price of approximately $1,800/month. The larger studios and the 1 BD, 1 BA are averaging closer to $2,000/month.
Ideally positioned east of the intracoastal and one block from the Intracoastal, the property is walkable to the beach, Pompano Pier, and the newly revitalized Fishing Village. This area has become a destination with major public and private investment pouring in, including high-end residential towers, hotel-branded residences, and infrastructure upgrades, including marquee projects like the Waldorf Astoria Residences (70% pre-sold), Ritz-Carlton and Armani/Casa towers, Salato condos, and Mayla multifamily communities — underscoring strong investor confidence. Pompano Beach’s transformation into a premier coastal hotspot makes this an attractive long-term hold.
With strong fundamentals, a desirable location, and significant income potential, this is a rare opportunity to invest in one of South Florida’s most exciting and fast-growing beachfront markets. Property is projected at a cap rare of 7.25% once property is fully leased out and stabilized. Contact today for more details
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$595,406
|
$55.95
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$8,931
|
$0.84
|
| Effective Gross Income |
$586,475
|
$55.11
|
| Taxes |
$110,000
|
$10.34
|
| Operating Expenses |
$53,104
|
$4.99
|
| Total Expenses |
$163,104
|
$15.33
|
| Net Operating Income |
$423,371
|
$39.78
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $595,406 |
| Annual Per SF | $55.95 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $8,931 |
| Annual Per SF | $0.84 |
| Effective Gross Income | |
|---|---|
| Annual | $586,475 |
| Annual Per SF | $55.11 |
| Taxes | |
|---|---|
| Annual | $110,000 |
| Annual Per SF | $10.34 |
| Operating Expenses | |
|---|---|
| Annual | $53,104 |
| Annual Per SF | $4.99 |
| Total Expenses | |
|---|---|
| Annual | $163,104 |
| Annual Per SF | $15.33 |
| Net Operating Income | |
|---|---|
| Annual | $423,371 |
| Annual Per SF | $39.78 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Pool
- Tenant Controlled HVAC
- Furnished Units Available
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 27 | - | 250 - 300 |
| 1+1 | 1 | - | 400 |
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PROPERTY TAXES
| Parcel Number | 48-43-30-01-0670 | Total Assessment | $2,547,750 |
| Land Assessment | $1,628,120 | Annual Taxes | $110,000 ($10.34/SF) |
| Improvements Assessment | $919,630 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
48-43-30-01-0670
Land Assessment
$1,628,120
Improvements Assessment
$919,630
Total Assessment
$2,547,750
Annual Taxes
$110,000 ($10.34/SF)
Tax Year
2025
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POMPANO SEASIDE MULTIFAMILY COMPLEX | 1020 N Riverside Dr
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