Three on 18th | 216 NE 18th Ave
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Three on 18th 216 NE 18th Ave
3 Unit Apartment Building $945,000 ($315,000/Unit) 3.89% Cap Rate Pompano Beach, FL 33060
Executive Summary
Welcome to Three at 18th. Seller may Carry! This is a fully licensed short term rental only 1.2 miles from the beach. This triplex property features a 3 bedroom 1 bath. 1 bedroom one bath and one studio. Two electric metes and one on site laundry for every one to use. Comes fully furnished. Currently being ran with short month to month tenants and as vacation rentals online. Current Rents (includes water, electric , internet, and Netflix)as follows: A $2850/mo. B $1840/mo. C $900/mo. Total $5590.00/mo. Expenses (average) Water $157/mo. Electric $380/mo. Internet $140/mo. rented way below market rents. Perfect for owner user or value add to raise rents. All facts and figures are approximate buyer verify MLS information. Drive by only tenant occupied.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$67,080
|
$36.94
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,354
|
$1.85
|
| Effective Gross Income |
$63,726
|
$35.09
|
| Taxes |
$9,471
|
$5.22
|
| Operating Expenses |
$17,540
|
$9.66
|
| Total Expenses |
$27,011
|
$14.87
|
| Net Operating Income |
$36,715
|
$20.22
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $67,080 |
| Annual Per SF | $36.94 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,354 |
| Annual Per SF | $1.85 |
| Effective Gross Income | |
|---|---|
| Annual | $63,726 |
| Annual Per SF | $35.09 |
| Taxes | |
|---|---|
| Annual | $9,471 |
| Annual Per SF | $5.22 |
| Operating Expenses | |
|---|---|
| Annual | $17,540 |
| Annual Per SF | $9.66 |
| Total Expenses | |
|---|---|
| Annual | $27,011 |
| Annual Per SF | $14.87 |
| Net Operating Income | |
|---|---|
| Annual | $36,715 |
| Annual Per SF | $20.22 |
Property Facts
| Price | $945,000 | Apartment Style | Garden |
| Price Per Unit | $315,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 3.89% | Building Size | 1,816 SF |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 2.2/1,000 SF |
| Price | $945,000 |
| Price Per Unit | $315,000 |
| Sale Type | Investment |
| Cap Rate | 3.89% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 1,816 SF |
| No. Stories | 1 |
| Year Built | 1956 |
| Parking Ratio | 2.2/1,000 SF |
Unit Amenities
- Air Conditioning
- Tile Floors
- Carpet
Site Amenities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 1 | $2,850 | 1,100 |
| 1+1 | 1 | $1,850 | 550 |
| Studios | 1 | $900.00 | 450 |
1 of 1
Walk Score ®
Very Walkable (75)
zoning
| Zoning Code | TO-EOD (TO-EOD) |
| TO-EOD (TO-EOD) |
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Three on 18th | 216 NE 18th Ave
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