211 SW 2nd Ct
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211 SW 2nd Ct
6 Unit Apartment Building $775,000 ($129,167/Unit) 5.73% Cap Rate Pompano Beach, FL 33060
Investment Highlights
- Hurricane Impact Windows Throughout.
- 1954 Concrete Block Construction.
- Located East of Interstate-95 in Pompano Beach.
- Below Market Rents.
Executive Summary
Located at 211 SW 2nd Ct in Pompano Beach, Florida, this 6-unit garden style apartment building was built in 1954, totaling 2,324 square feet. The building has hurricane impact windows which ensuring long-term durability and reduced insurance costs. Each unit equipped with wall unit air conditioning.
The property's location is particularly advantageous due to its proximity to the dynamic developments around Pompano Beach City Hall. This area, situated less than 1 mile from the property, is undergoing significant transformation with new commercial, residential, and public projects. The ongoing redevelopment efforts include modern retail spaces, enhanced public facilities, and improved infrastructure, all aimed at boosting the local economy and community appeal. This property will benefit from easy access to local economic drivers and employment drivers as well as various local attractions and essential services. The Pompano Beach Amphitheater, located approximately 2 miles to the east, offers a venue for concerts and cultural events, enriching the community's cultural life. For outdoor enthusiasts, the nearby Pompano Community Park provides extensive recreational facilities, including sports fields, tennis courts, and an aquatic center. Additionally, quality educational institutions such as Pompano Beach High School and Pompano Beach Elementary School are within close reach, making this location ideal for families. The property’s strategic location, combined with the area's development, positions it well to attract a diverse tenant base.
This investment property represents a promising opportunity with significant upside potential. The property's sturdy construction, recent upgrades, and prime location within a burgeoning part of Pompano Beach, contributes to its long-term investment value. With the ongoing developments around City Hall expected to drive up property values and rental demand, this property is poised to deliver stable returns and capital appreciation.
The property's location is particularly advantageous due to its proximity to the dynamic developments around Pompano Beach City Hall. This area, situated less than 1 mile from the property, is undergoing significant transformation with new commercial, residential, and public projects. The ongoing redevelopment efforts include modern retail spaces, enhanced public facilities, and improved infrastructure, all aimed at boosting the local economy and community appeal. This property will benefit from easy access to local economic drivers and employment drivers as well as various local attractions and essential services. The Pompano Beach Amphitheater, located approximately 2 miles to the east, offers a venue for concerts and cultural events, enriching the community's cultural life. For outdoor enthusiasts, the nearby Pompano Community Park provides extensive recreational facilities, including sports fields, tennis courts, and an aquatic center. Additionally, quality educational institutions such as Pompano Beach High School and Pompano Beach Elementary School are within close reach, making this location ideal for families. The property’s strategic location, combined with the area's development, positions it well to attract a diverse tenant base.
This investment property represents a promising opportunity with significant upside potential. The property's sturdy construction, recent upgrades, and prime location within a burgeoning part of Pompano Beach, contributes to its long-term investment value. With the ongoing developments around City Hall expected to drive up property values and rental demand, this property is poised to deliver stable returns and capital appreciation.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $775,000 | Property Subtype | Apartment |
| Price Per Unit | $129,167 | Apartment Style | Garden |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 5.73% | Building Size | 2,324 SF |
| Gross Rent Multiplier | 9.14 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1954 |
| Price | $775,000 |
| Price Per Unit | $129,167 |
| Sale Type | Investment |
| Cap Rate | 5.73% |
| Gross Rent Multiplier | 9.14 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.22 AC |
| Building Size | 2,324 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1954 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,350 | 500 |
Walk Score®
Very Walkable (73)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 49-42-02-02-0290 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $260,090 |
PROPERTY TAXES
Parcel Number
49-42-02-02-0290
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$260,090
Contacts
-
Daniel Cunningham -
Evan Richardson -
River Rhoads -
Dillon Majeski -
Jason Nowik -
Marcus & Millichap
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