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1211 NE 23rd Ave 6 Unit Apartment Building $1,675,000 ($279,167/Unit) 5.02% Cap Rate Pompano Beach, FL 33062
Investment Highlights
- Prime location on the east side of US-1, just minutes to the beach, FLL Airport and the pier
- Two-story, concrete block, updated six-unit property
- Turn-key, fully leased asset offering immediate and consistent cash flow. At full occupancy.
- Featuring four 1BD/1BA units and two 2BD/1BA units, ideally located on a desirable cul-de-sac.
Executive Summary
Strategically situated in the heart of Pompano Beach, offering convenient access to major transportation routes and business districts.
The residential units are presently rented at rates below the current market value, presenting a substantial opportunity for significant rent increases.
Over 25,886 people live within the zip code of the property with an average household income of $124,430.
The rental market in Pompano Beach is thriving. The city experiences high demand for rental properties, resulting in consistently low vacancy rates.
The residential units are presently rented at rates below the current market value, presenting a substantial opportunity for significant rent increases.
Over 25,886 people live within the zip code of the property with an average household income of $124,430.
The rental market in Pompano Beach is thriving. The city experiences high demand for rental properties, resulting in consistently low vacancy rates.
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,675,000 | Building Class | C |
| Price Per Unit | $279,167 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 4,334 SF |
| Cap Rate | 5.02% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1967 |
| Property Subtype | Apartment | Parking Ratio | 1.85/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM-20 - Residential Multi-family, medium -high density district | ||
| Price | $1,675,000 |
| Price Per Unit | $279,167 |
| Sale Type | Investment |
| Cap Rate | 5.02% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,334 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 1.85/1,000 SF |
| Zoning | RM-20 - Residential Multi-family, medium -high density district |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 2 | - | - |
1 1
Property Taxes
| Parcel Number | 48-43-30-20-0130 | Total Assessment | $1,091,590 |
| Land Assessment | $65,620 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,025,970 | Tax Year | 2026 |
Property Taxes
Parcel Number
48-43-30-20-0130
Land Assessment
$65,620
Improvements Assessment
$1,025,970
Total Assessment
$1,091,590
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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1211 NE 23rd Ave
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