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Active Under Contract

221 SE 11th Ave Pompano Beach, FL 33060

2,327 SqFt

UPDATED:

10/11/2024 07:41 PM

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 2,327 sqft

Price per Sqft $300

Subdivision Ocean Drive Estates

MLS Listing ID A11635028

Construction Status Resale

HOA Y/N No

Year Built 1970

Annual Tax Amount $8,797

Tax Year 2023

Contingent Pending Inspections

Property Description

Attention investors and owner-users! Prime investment opportunity with a well-maintained triplex in Pompano Beach. This 2,327 sq. ft. property on a 6,001 sq. ft. lot features three 2-bedroom, 1-bathroom units. Located near Atlantic Blvd., it offers easy access to shopping, dining, and entertainment. The neighborhood is rapidly redeveloping, boosting its investment potential with an actual NOI of $22,041 and a projected NOI of $39,480. With an actual cap rate of 3.15 % and a projected cap rate of 5.65%, this property is zoned RD-1 and has been extensively improved since 2012. The area has strong demographics, with a population of 17,068 and an average household income of $85,373 within a 1-mile radius, ensuring reliable tenant demand and rental rates.

Location

State FL

County Broward

Community Ocean Drive Estates

Area 3341

Direction From Atlantic Blvd. east of Dixie Hwy, turn right onto SE 11th Ave and continue south; the property will be on your right.

Interior

Heating Central

Cooling Central Air

Flooring Ceramic Tile

Window Features Blinds

Exterior

Pool None

Utilities Available Cable Available

Waterfront No

Roof Type Shingle

Total Parking Spaces 5

Building

Lot Description < 1/4 Acre

Story 1

Sewer Public Sewer

Water Public

Level or Stories One

Structure Type Block

Construction Status Resale

Others

Tax ID 494201030260

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Listed As-Is

Listed by Klein Morgan Realty LLC

Matthew Jerry

Team Lead | License ID: BK3219085

+1(954) 290-4447

Matthew Jerry

221 SE 11th Ave Pompano Beach, FL 33060

Key Details

Location

Interior

Exterior

Building

Others

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221 SE 11th Ave