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: 37
- 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
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DescriptionRARE 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!
Property Location and Similar Properties
Features
Building and Construction
- Exterior Features: Balcony
- Fencing: Fenced
- Flooring: Tile, Vinyl
- Roof: Composition
School Information
- High School: Blanche Ely
- Middle School: Pompano Beach
- School Elementary: Pompano Beach
Eco-Communities
- Pool Features: In Ground
- Water Source: Public
Utilities
- Cooling: Ceiling Fan(s), Central Individual, Electric
- Heating: Central Building, Central Individual, Electric
- Sewer: Public Sewer
- Utilities: Sewer Available, Water Available
Amenities
- Association Amenities: Pool
Finance and Tax Information
- Tax Year: 2025
Rental Information
- Tenant Pays: Cable TV
Other Features
- Legal Description: POMPANO BY THE SEA RESUB 1-22 B LOTS 21 & 22 TOG/W LOT ''B'', BLK 8
- Parcel Number: 484330010670
- Zoning Code: RM-20
Payment Calculator
- Principal & Interest -
- Property Tax $
- Home Insurance $
- HOA Fees $
- Monthly -
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