840 NW 5th Avenue

Pompano Beach, 840 NW 5th Avenue, 33060

Quick Summary

Property ID
PR992010245
Price
$385,000
Area:
3,266 sq ft

Property Description

No. Units: 7
Lot Size: 10,201 SF
Price/Unit: $55,000 /Unit
Property Type: Multifamily
Property Sub-type: Garden/Low-Rise
Property Use Type: Investment
Commission Split: 2.50%
Cap Rate: 10.50%
Tax ID/APN: 4842 35 01 0550
Status: Active

The 840 is a 7 unit apartment building located in Pompano Beach, Florida in Broward County. The surrounding area is a mix of small apartments buildings and single family homes. Just north of the property is Blanche Ely High School, Hopewell Pre School, and Sanders Park Elementary School. The building was constructed in 1951 of concrete block (CBS) type construction with a cement stucco exterior. The tenants pay for their own electricity and cable TV, and the trash and water / sewer is included in the rent. The owners have maintained this property in excellent condition and have just painted the exterior and walkways. The roof is all concrete with a waterproof membrane that provides little or no maintenance. Large fenced in back yard, and security lighting on the building perimeter.

Location Description:
The main highway I-95 is just west of the property and is easily accessible from Atlantic Avenue, a few blocks south. Mitchell Moore Park is a 16 acre recreation area with basketball and tennis courts, pool, and community center a few blocks west from the property.

Financial Summary / Actual
Net Operating Income / $30,135

Property Features

  • 5 studios and 2 - 3br / 1 bath units
  • Great off-street parking
  • Manager lives on the property

Map

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