1020 Riverside Drive, Pompano Beach, FL 33062
  • MLS#: R11155485 ( Residential Income )
  • Street Address: 1020 Riverside Drive
  • Viewed: 4
  • Price: $5,750,000
  • Price sqft: $357
  • Waterfront: No
  • Year Built: 1964
  • Bldg sqft: 16086
  • Total Baths: 2
  • Days On Market: 16
  • Additional Information
  • Geolocation: 26 / -80
  • County: Broward
  • City: Pompano Beach
  • Zipcode: 33062
  • Subdivision: Pompano By The Sea
  • Elementary School: Pompano Beach
  • Middle School: Pompano Beach
  • High School: Blanche Ely
  • Provided by: Compass Florida LLC
  • DMCA Notice
  • Description
    RARE OPPORTUNITY TO ACQUIRE AN 8.0% CAP RATE PROPERTY! Incredible opportunity to acquire a 28 unit multifamily property located just steps from the beach in booming Pompano Beach. The property is approximately 70% leased and in the process of being fully stabilized, offering immediate upside for investors. At full occupancy, the asset is projected to gross $50,000 per month in long term rental income and an additional $150,000+ from vacation rentals, with an NOI approaching $500,000 annuallymaking this a high yielding cash flow investment. Located less than 300 yards from Pompano's pristine public beaches! Views of both the intracoastal and the ocean!
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Features
Possible Terms
  1. Cash
  2. Conventional
  3. Owner Will Carry
Association Amenities
  1. Pool
Close Date
  1. 0000-00-00
Cooling
  1. Ceiling Fan(s)
  2. Central Individual
  3. Electric
Exterior Features
  1. Balcony
Fencing
  1. Fenced
Flooring
  1. Tile
  2. Vinyl
Heating
  1. Central Building
  2. Central Individual
  3. Electric
High School
  1. Blanche Ely
Legal Description
  1. POMPANO BY THE SEA RESUB 1-22 B LOTS 21 & 22 TOG/W LOT ''B''
  2. BLK 8
Middle School
  1. Pompano Beach
Parcel Number
  1. 484330010670
Pool Features
  1. In Ground
Property Type
  1. Residential Income
Roof
  1. Composition
School Elementary
  1. Pompano Beach
Sewer
  1. Public Sewer
Tax Year
  1. 2025
Tenant Pays
  1. Cable TV
Utilities
  1. Sewer Available
  2. Water Available
Water Source
  1. Public
Year Built
  1. 1964
Zoning Code
  1. RM-20
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