Building Description
Executive Summary
Investment Overview
This boutique multi-family offering consists of 6 units across 2,460 building square feet situated on a 7,250 square foot lot. Originally constructed in 1961 and carrying a scheduled year renovated of 2026, the property features an RM-20 zoning designation and an efficient unit mix comprised of 4 studios and 2 one-bedroom, one-bathroom layouts, presented at an asking price of $1,699,900.
The investment thesis centers on a comprehensive value-add and capital improvement program designed to modernize the asset. Upgrades include new kitchens, new bathrooms, new floors, an updated electric service, and hurricane impact windows installed throughout the building, elevating the overall quality and tenant appeal of the physical structure.
Current asset performance is supported by an active rent roll reflecting a combination of occupied units and vacant-market opportunities. In-place rents range from $1,175 to $1,500 per month, while established market rents reach up to $1,500 for studios and $1,900 for one-bedroom units, providing clear visibility into near-term lease-up and rental growth potential.
Positioned in a prime A+ beachside location, the property benefits from significant macro-level demand drivers, including an $80 million municipal revitalization of the local beach area. Residents enjoy close proximity to the new fish-shaped pier, the Pompano Beach Fishing Village, and nearby coastal landmarks such as the Hillsboro Lighthouse, cementing its desirability within a robust South Florida submarket.
Location Overview
Pompano Beach occupies a prime coastal market position along Florida’s vibrant shoreline, emerging as a premier beach destination that has recently captured significant attention. Situated in a high-demand coastal setting, the city offers pristine oceanfront access and a dynamic local environment that blends relaxed seaside living with robust regional positioning.
The local economy thrives on a strong mix of tourism, retail, entertainment, and lifestyle-driven commerce, anchored by ongoing public and private investments. Transformative municipal initiatives and upscale residential developments continue to attract visitors and new residents, creating a thriving commercial ecosystem that fuels strong, consistent economic demand across the market.
The area benefits from significant infrastructure enhancements, most notably an $80 million municipal revitalization of the beach area featuring a modern parking garage and the iconic new fish-shaped pier. Residents and visitors enjoy close proximity to the vibrant Pompano Beach Fishing Village, diverse local dining options, retail and entertainment centers, historic landmarks such as the Hillsboro Lighthouse, and seamless access to surrounding coastal hubs.
This thriving coastal market provides an ideal setting to support sustained workforce-housing and compact residential rental demand, underpinning an attractive value-add investment strategy. The combination of heavy municipal investment, lifestyle appeal, and a limited supply of well-positioned coastal units ensures long-term tenant interest, making this market exceptionally supportive of capital improvements and interior renovations.
Approved Uses by Zoning — 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 zoning guide ›
