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620 SW 7th St 7 Unit Apartment Building $1,450,000 ($207,143/Unit) 6.50% Cap Rate Pompano Beach, FL 33060
Investment Highlights
- New Roof and New Impact Windows
- Room to raise rents , see attached docs , current cap 6.5% ; proforma 8% cap
- Sold Concrete Block Construction
- 100% Occupied with long term tenants
- Excellent Tenants, Easy rent collection, Owner easily self manages
Executive Summary
Amazing 7 Unit Multifamily Jewel Available! New Roof and New Impact Windows, 100% occupied with long term tenants since the owner purchased the building and updated. The unit mix consists of 3 - 2/1's , 3 - 1/1's and 1 large studio. Easy rent collection and Seller also easily self-manages the property. The Current Gross Income is $123,600. There is room to increase the rents and the Projected Gross Income will be $147,000. Annual Expenses are $29,463 which include Property Taxes:$19543, Water/Sewer:$3600, Insurance $5000, Lawn $720, Exterior Electric $600. Apartment electricity is metered separately and paid by Tenants. Current 6.5% cap, ProForma 8% cap. Seller has done all the hard work for the new Buyer! Collect Income right away with no work needed. Cash Cow!!
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$121,200
|
$26.06
|
| Other Income |
$2,400
|
$0.52
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$123,600
|
$26.58
|
| Taxes |
$19,543
|
$4.20
|
| Operating Expenses |
$9,920
|
$2.13
|
| Total Expenses |
$29,463
|
$6.34
|
| Net Operating Income |
$94,137
|
$20.24
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $121,200 |
| Annual Per SF | $26.06 |
| Other Income | |
|---|---|
| Annual | $2,400 |
| Annual Per SF | $0.52 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $123,600 |
| Annual Per SF | $26.58 |
| Taxes | |
|---|---|
| Annual | $19,543 |
| Annual Per SF | $4.20 |
| Operating Expenses | |
|---|---|
| Annual | $9,920 |
| Annual Per SF | $2.13 |
| Total Expenses | |
|---|---|
| Annual | $29,463 |
| Annual Per SF | $6.34 |
| Net Operating Income | |
|---|---|
| Annual | $94,137 |
| Annual Per SF | $20.24 |
Property Facts
| Price | $1,450,000 | Building Class | C |
| Price Per Unit | $207,143 | Lot Size | 0.31 AC |
| Sale Type | Investment | Building Size | 4,650 SF |
| Cap Rate | 6.50% | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1972/2021 |
| Property Subtype | Apartment | Parking Ratio | 1.94/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | B3 - MultiFamily | ||
| Price | $1,450,000 |
| Price Per Unit | $207,143 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 4,650 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1972/2021 |
| Parking Ratio | 1.94/1,000 SF |
| Zoning | B3 - MultiFamily |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | 800 |
| 1+1 | 3 | - | 600 |
| Studios | 1 | - | 400 |
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Property Taxes
| Parcel Number | 49-42-02-03-1150 | Total Assessment | $904,170 |
| Land Assessment | $0 | Annual Taxes | $19,543 ($4.20/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
49-42-02-03-1150
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$904,170
Annual Taxes
$19,543 ($4.20/SF)
Tax Year
2025
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620 SW 7th St
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