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3226 NE 12th St 11 Unit Apartment Building $2,460,000 ($223,636/Unit) 5.18% Cap Rate Pompano Beach, FL 33062
Investment Highlights
- CBS Building With Updated Interiors Featuring LVT Floors, Wood Cabinets, And Granite Countertops
- On-Site Pool And Laundry Rooms
- Currently Operated As Annual Rentals With Strong Short-Term Rental Upside
- Prime East Pompano Location Near The Beach, Pier, And Fishing Village Redevelopment
Executive Summary
Marcus & Millichap is pleased to present Pompano By The Sea Apartments, an 11-unit multifamily property located at 3226 NE 12th Street in Pompano Beach, Florida. Built in 1965, the property totals 6,748 square feet and is situated on a 0.28-acre lot. The unit mix consists of 3 studios (436 SF), 7 one-bedroom/one-bathroom units (620 SF), and 1 three-bedroom/two-bathroom unit (1,100 SF), offering a flexible layout that appeals to a broad renter profile. The property features a pitched composite shingle roof, wall-unit air conditioning, and desirable on-site amenities including a swimming pool and laundry room. Interior upgrades include LVT flooring, wood cabinetry, and granite countertops, enhancing both durability and aesthetic appeal. The asset is currently operated as annual rentals; however, given its proximity to the beach and tourist-driven amenities, we believe the property’s highest and best use may be repositioning to short-term rentals, allowing for potentially higher revenue and optimized cash flow.
Pompano By The Sea Apartments is ideally located east of Federal Highway, just minutes from the Pompano Beach shoreline, Fisher Family Pier, and the redeveloped Pompano Beach Fishing Village, home to upscale dining, retail, and entertainment. The submarket continues to benefit from significant redevelopment activity, including new luxury residential towers, boutique hospitality projects, and mixed-use developments that are elevating the area’s long-term demand profile.
With its coastal location, updated interiors, on-site pool amenity, and potential for operational repositioning, Pompano By The Sea Apartments presents a compelling opportunity to acquire a boutique multifamily asset in one of Broward County’s fastest-growing beachfront submarkets.
Pompano By The Sea Apartments is ideally located east of Federal Highway, just minutes from the Pompano Beach shoreline, Fisher Family Pier, and the redeveloped Pompano Beach Fishing Village, home to upscale dining, retail, and entertainment. The submarket continues to benefit from significant redevelopment activity, including new luxury residential towers, boutique hospitality projects, and mixed-use developments that are elevating the area’s long-term demand profile.
With its coastal location, updated interiors, on-site pool amenity, and potential for operational repositioning, Pompano By The Sea Apartments presents a compelling opportunity to acquire a boutique multifamily asset in one of Broward County’s fastest-growing beachfront submarkets.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $2,460,000 | Apartment Style | Low-Rise |
| Price Per Unit | $223,636 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 5.18% | Building Size | 6,816 SF |
| Gross Rent Multiplier | 10.29 | No. Stories | 2 |
| No. Units | 11 | Year Built | 1966 |
| Property Type | Multifamily | Parking Ratio | 1.76/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM-20, Pompano Beach | ||
| Price | $2,460,000 |
| Price Per Unit | $223,636 |
| Sale Type | Investment |
| Cap Rate | 5.18% |
| Gross Rent Multiplier | 10.29 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 6,816 SF |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 1.76/1,000 SF |
| Zoning | RM-20, Pompano Beach |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 436 |
| 1+1 | 7 | - | 620 |
| 3+2 | 1 | - | 1,100 |
1 1
Fairly walkable
40/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 48-43-30-01-0620 | Improvements Assessment | $2,269,440 |
| Land Assessment | $300,540 | Total Assessment | $2,569,980 |
Property Taxes
Parcel Number
48-43-30-01-0620
Land Assessment
$300,540
Improvements Assessment
$2,269,440
Total Assessment
$2,569,980
Contacts
-
Daniel Cunningham -
Evan Richardson -
River Rhoads -
Dillon Majeski -
Cory Sanchez -
Jason Nowik -
Marcus & Millichap
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3226 NE 12th St
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