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Atlantic Terrace Condominiums 3401 NE 10th St 8 Room Hotel Pompano Beach, FL 33062 $2,500,000 ($312,500/Room)
Executive Summary
Seller wants to negotiate / sell! Call listing agent. Directly on the sand! 7 apartments of the 11 total are available for purchase in this beautiful 4 story condominium located directly on the sand. The 7 (full kitchens and fully furnished) were purchased as a family retreat 16 years ago. You must come and experience the tranquility of the property to appreciate what it has to offer – Spectacular views, heated pool, private beach area, convenient parking, elevator, 2 laundry rooms… Per the recently completed Structural Integrity Reserve Study the property is well maintained plus it has a new roof, pool heater / pump and standpipe fire system. The condo association monthly fee is only $650 per apartment, and there is $20,000 in the reserve fund. The other 4 owners are out of state and seldom use their apartment. Per the Association’s condo attorney, owning 51% of the apartments provides the opportunity to replace board members and thereby have partial control of the Association. And when an owner decides to sell, you have the first right of refusal to purchase their apartment. In addition to being a family retreat, the apartments have tremendous potential to be positioned as an upscale boutique hotel. The asking price per apartment for this direct oceanfront gem is less than many dry lot properties located on the west side of A1A! Ok to drive by but listing agent must schedule and accompany site visits.
Property Facts
| Price | $2,500,000 | Building Size | 2,643 SF |
| Price Per Room | $312,500 | No. Rooms | 8 |
| Sale Type | Investment | No. Stories | 4 |
| Property Type | Hospitality | Year Built | 1966 |
| Property Subtype | Hotel | Parking Ratio | 2.65/1,000 SF |
| Building Class | B | Corridor | Exterior |
| Lot Size | 0.17 AC | ||
| Zoning | RM-45/HR - Multifamily, Hotel | ||
| Price | $2,500,000 |
| Price Per Room | $312,500 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 2,643 SF |
| No. Rooms | 8 |
| No. Stories | 4 |
| Year Built | 1966 |
| Parking Ratio | 2.65/1,000 SF |
| Corridor | Exterior |
| Zoning | RM-45/HR - Multifamily, Hotel |
Amenities
- Pool
- High Speed Internet Access
- Patio
- Beach (direct access)
- Smoke-Free
- Fully-Equipped Kitchen
- Multi-Room Suites
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 8 | $149.00 | - |
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Property Taxes
| Parcel Number | 48-43-29-BA-0010 | Improvements Assessment | $281,450 |
| Land Assessment | $31,270 | Total Assessment | $312,720 |
Property Taxes
Parcel Number
48-43-29-BA-0010
Land Assessment
$31,270
Improvements Assessment
$281,450
Total Assessment
$312,720
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Atlantic Terrace Condominiums | 3401 NE 10th St
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