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3213 SE 12th St
Pompano Beach, FL 33062
Malibu Apartments · Multifamily Property For Sale
·
14 Units
Investment Highlights
- Excellent location, one block from the ocean, just west of A1A
- Onsite laundry rooms and parking
- Central air-conditioning and heat
- Close to both entertainment areas of Lauderdale by the Sea and Pompano Pier
- Very clean, well-maintained building
- Updated kitchens and bathrooms
Executive Summary
The Malibu Apartments is a 14-unit apartment building located in Pompano Beach on SE 12th Street, east of A1A and about a block from the beach and Atlantic Ocean. The property has been very well maintained and consists of 12 one-bedroom/one-bathroom units with about 655 SF and two two-bedroom/one-bathroom units with about 830 SF. The units have central air-conditioning and heat, many of which have been changed recently. Water, sewer and trash removal are included in the rent. The property was built in 1971 and sits on a .31 acre site.
The property is in an excellent location on the barrier island in Pompano Beach walking distance to the beach and between Atlantic Boulevard and Lauderdale by the Sea, east of the Intracoastal Waterway. The area is made up of low-density residential buildings, low rise condominiums and single-family homes with hotels, resorts and high-rise condominiums along A1A. The neighborhood is a very sought after area, attracting a wide range of residents who are drawn to the area because of its close proximity to the Atlantic Ocean.
An investor has the opportunity to acquire a very well-maintained apartment building with the ability to increase the rental income. The Malibu Apartments is priced at $3,200,000 which comes to $228,571 a unit and $336 a SF.
The property is in an excellent location on the barrier island in Pompano Beach walking distance to the beach and between Atlantic Boulevard and Lauderdale by the Sea, east of the Intracoastal Waterway. The area is made up of low-density residential buildings, low rise condominiums and single-family homes with hotels, resorts and high-rise condominiums along A1A. The neighborhood is a very sought after area, attracting a wide range of residents who are drawn to the area because of its close proximity to the Atlantic Ocean.
An investor has the opportunity to acquire a very well-maintained apartment building with the ability to increase the rental income. The Malibu Apartments is priced at $3,200,000 which comes to $228,571 a unit and $336 a SF.
Property Facts
| Price Per Unit | $228,571 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 3.55% | Lot Size | 0.31 AC |
| Gross Rent Multiplier | 13.82 | Building Size | 9,520 SF |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1971 |
| Property Subtype | Apartment | Parking Ratio | 1.68/1,000 SF |
| Zoning | RM-20 | ||
| Price Per Unit | $228,571 |
| Sale Type | Investment |
| Cap Rate | 3.55% |
| Gross Rent Multiplier | 13.82 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 9,520 SF |
| No. Stories | 2 |
| Year Built | 1971 |
| Parking Ratio | 1.68/1,000 SF |
| Zoning | RM-20 |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $1,500 | 655 |
| 2+1 | 2 | $2,000 | 830 |
Property Taxes
| Parcel Number | 49-43-06-12-0580 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,313,970 |
Property Taxes
Parcel Number
49-43-06-12-0580
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,313,970
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