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Florence Villas 1241 NE 23rd Ave 4 Unit Apartment Building $1,900,000 ($475,000/Unit) 5.21% 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
- Built in 2007 with Updated Interiors & Modern Finishes
- Turn-key, fully leased asset offering immediate and consistent cash flow. At full occupancy
- Spacious 3 Bed / 2.1 Bath Units with Garages & Private Fenced Backyards
Executive Summary
Location! Excellent investment opportunity! This well-maintained 4-remodeled townhome, 3-bed, 2.1-bath, 1-car garage, fenced-backyard property offers solid returns. Built in 2007, the property features updated interiors and modern finishes that attract and retain quality tenants. The property is currently 100% occupied, providing immediate, stable cash flow from day one. Each unit offers comfortable living with newer-style construction rarely found in multifamily opportunities of this type. Strong rental demand, low maintenance, and consistent occupancy make this an ideal addition to any investor’s portfolio. Excellent opportunity for both seasoned and first-time multifamily investors seeking long-term appreciation and reliable income.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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 - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 | $1,900,000 | Building Class | C |
| Price Per Unit | $475,000 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 5,896 SF |
| Cap Rate | 5.21% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2008 |
| Property Subtype | Apartment | Parking Ratio | 0.09/1,000 SF |
| Apartment Style | Townhome | ||
| Zoning | RM-20 - Residential Multi-Family | ||
| Price | $1,900,000 |
| Price Per Unit | $475,000 |
| Sale Type | Investment |
| Cap Rate | 5.21% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 5,896 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 2008 |
| Parking Ratio | 0.09/1,000 SF |
| Zoning | RM-20 - Residential Multi-Family |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Refrigerator
- Tub/Shower
- Walk-In Closets
- Wi-Fi
- Family Room
- Island Kitchen
- Patio
- Trash Compactor
- Window Coverings
- Quartz Countertops
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 41 | - | 1,550 - 1,650 |
| 3+2.5 | 43 | - | 1,400 - 1,550 |
| 3+2.5 | 45 | - | 1,400 - 1,550 |
| 3+2.5 | 47 | - | 1,550 - 1,650 |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 48-43-30-20-0184 | Total Assessment | $387,770 (2026) |
| Land Assessment | $6,990 (2026) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $380,780 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
48-43-30-20-0184
Land Assessment
$6,990 (2026)
Improvements Assessment
$380,780 (2026)
Total Assessment
$387,770 (2026)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Florence Villas | 1241 NE 23rd Ave
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