Building Description
Executive Summary
Marcus & Millichap is pleased to present Seaside Rentals, a unique multifamily and hospitality asset located at 1020 N Riverside Drive in Pompano Beach, Florida. Built in 1964, the property consists of three buildings plus a clubhouse/common area, totaling 10,642 square feet on a 25,048-square-foot lot (approximately 0.57 acres). The property is legally configured as 21 units but is currently operating as 28 units, consisting of 27 studio units and 1 one-bedroom/one-bathroom unit. All units feature mini-split air conditioning systems, and the property includes an on-site swimming pool, laundry room, and shared common areas that support both short-term and extended-stay occupancy.
Currently, 11 units are operating as short-term rentals, providing operational flexibility and multiple revenue strategies for investors. The property previously operated as an Assisted Living Facility (ALF), and a future owner may determine that repositioning the asset back to an ALF or similar congregate living use represents its highest and best use, subject to licensing and regulatory approvals.
Seaside Rentals is ideally located east of the Intracoastal Waterway on the barrier island, just minutes from Pompano Beach, the Fisher Family Pier, and the Pompano Beach Fishing Village, which continues to benefit from substantial redevelopment activity including new luxury residential projects, hotels, restaurants, and entertainment destinations. The surrounding area’s continued growth and increasing tourism activity support both short-term rental and alternative housing demand.
With flexible operational potential, an established coastal location, and multiple possible use cases, Seaside Rentals presents a rare opportunity to acquire a large-scale boutique asset in one of Broward County’s fastest-growing beachfront submarkets.
Approved Uses by Zoning — Multiple-Family Residence 20 (RM-20 - Multiple-Family Residence 20 (RM-20))
Uses permitted by right under the municipality’s zoning for this district. The property may carry additional restrictions (deed, association or lease), so tenants are responsible for confirming their intended use with the municipality and landlord before committing.
Allowed by right
Dwelling, Multifamily, Dwelling, Single-Family, Dwelling, Two-Family, Family Community Residence, Transitional Community Residence, Recovery Community, Continuing Care Retirement Community, Nursing Home Facility, Arboretum or Botanical Garden, Community Garden, Park or Plaza, Utility Use, Minor
With special approval
Dwelling, Single-Family (Zero Lot Line), Rooming or boarding house, Community Center, Library, Museum, Senior Center, Youth Center, Adult Day Care Center, Child Care Facility, School, Elementary, Fire or EMS Station, Police Station, Post Office, Place of Worship, Professional Office, Bank or Financial Institution, Condo Hotel, Bed and Breakfast Inn, Hotel or Motel, Eating and Drinking Establishment as accessory use to a hotel/condo hotel (special exception; hotel or condo hotel must have 50+ rooms), Golf Course
Read the full RM-20 - Multiple-Family Residence 20 (RM-20) zoning guide ›
