Pompano Apartments 2255 SE 5th St 10 Unit Apartment Building $1,995,000 ($199,500/Unit) 7.29% Cap Rate Pompano Beach, FL 33062

Fausto Commercial is proud to present 2255 SE 5th Street, a rare opportunity to acquire a 10-unit multifamily property in the highly desirable Southeast Pompano Beach submarket. Located east of Federal Highway and in close proximity to the beach, Pompano Beach Pier, and the city's vibrant dining and entertainment district, the property benefits from strong rental demand and exceptional access to major employers, retail destinations, and recreational amenities.
The asset consists of 10 nicely renovated one-bedroom, one-bathroom units within a well-maintained concrete construction building totaling approximately 5,880 square feet. Residents enjoy the comfort of central air conditioning, updated interiors, and the convenience of an on-site coin laundry facility. The property currently generates $209,880 in gross annual income and is being offered at a 7.29% cap rate, providing investors with strong in-place cash flow. With rents below market in select units, new ownership has the opportunity to increase gross annual income to more than $224,000 through rent adjustments to market rates, resulting in an estimated 8.0% cap rate.
Positioned in a prime Southeast Pompano Beach location, the property is surrounded by transformative development activity, including more than $2 billion in ongoing downtown Pompano Beach redevelopment initiatives and the continued expansion of luxury residential and mixed-use projects east of the Intracoastal Waterway. These improvements are driving increased demand, rising property values, and long-term appreciation throughout the submarket.
Its close proximity to the beach, renovated unit interiors, and strong market fundamentals make it an attractive investment opportunity in one of South Florida’s most rapidly evolving and sought-after coastal markets.