POMPANO SEASIDE MULTIFAMILY COMPLEX 3208 NE 11th St 28 Unit Apartment Building $5,750,000 ($205,357/Unit) 8.15% Cap Rate Pompano Beach, FL 33062

Incredible opportunity to acquire a 28-unit multifamily property located just steps from the beach in booming Pompano Beach. The property is fully stabilized and operating with approximately 70% long term rentals and 30% as short term vacation rentals (during season). This asset is currently grossing north of $50,000 per month and grossed over $60,000 in February of 2026. For the investors not interested in vacation rentals, the average rent per unit across the 18 long term tenants is approximately $1,800.00/month +/-, which would equate to a potential gross income of $50,400 with 28 long term rentals. Whether rented to all long term tenants or operating as a hybrid model with vacation rentals, this property easily will throw off $600,000+ annually and with a 33% expense ratio, that leaves you with a 6.96% cap rate at the bare minimum.
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 studios are roughly 300-350 sqft each and the "larger" studio units are roughly 400-450 sqft. Every unit is currently fully furnished and 26 of the 28 units have mini split AC units as well as a kitchenette, which makes this property ideal for any investor including multifamily, hospitality, assisted living, vacation rentals, etc. In addition, this property has RM-20 zoning, which allows for a diverse mix of permitted uses, including the aforementioned uses, making this property a no brainer even for the most risk averse investors.
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 (90% 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 proven income and potential for value to be added, 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 rate north of 8.0% once property is fully leased out and stabilized. Contact today for more details