Atlantic Manor 208 SW Avondale Dr Pompano Beach, FL 33060

$3,100,000
$3,100,000

Overview

Fully Occupied, Renovated Multifamily Opportunity with Extensive Capital Improvements

  • Superior Unit Mix: The property consists of a diverse range of units, including (8) 3-bed/1-bath, (4) 2-bed/1-bath, and (1) 1-bed/1-bath apartments.
  • High-End Interior Upgrades: Eight units have been fully upgraded with luxury tile flooring, premium countertops, modern kitchen cabinets, and state-of-the-art high-tech appliances.
  • Modern Design and Robust Construction: Built in 1989, the building has undergone significant renovations, including new central AC systems, a 2023 roof, updated plumbing, hot water heaters, and electrical panels.
  • Prime Location: Situated in Pompano Beach, between Dixie Hwy and Atlantic Blvd, offering easy access to major highways, making it an ideal spot for renters.

Atlantic Manor is a 13-unit, three-story multifamily property established in 1989, centrally located in the vibrant Pompano Beach, Florida, within Broward County. The property has recently been extensively renovated, ensuring strong initial cash flow and the potential for increased rental income.

Key Features and Upgrades:

  • Interior Enhancements: The renovated units boast luxurious tile flooring, modern countertops, premium kitchen cabinets, and the latest high-tech electrical appliances.
  • Exterior Upgrades: The property features new central AC systems, a recently installed 2023 roof, fresh exterior paint, and upgraded infrastructure including PVC plumbing, new electric panels, and hot water heaters.
  • Strategic Location: Positioned west of Dixie Hwy and close to major retailers, the property is surrounded by similar multifamily buildings. It is conveniently located east of I-95, south of Atlantic Blvd, and north of Pompano Park Place. Atlantic Blvd provides direct access to the famous Pompano beaches, while the nearby shops and restaurants enhance the area’s appeal.

Investment Potential:

  • Unit Composition: The property spans approximately 9,431 square feet, with a mix of (8) three-bed/one-bath, (4) two-bed/one-bath, and (1) one-bed/one-bath units.
  • Amenities: Residents enjoy luxurious interior finishes, onsite laundry facilities, and a large tropical courtyard.
  • Market Appeal: Located in one of Broward County’s fastest-growing markets, Atlantic Manor is a popular choice among locals, offering a unique opportunity for investors.

Atlantic Manor presents an exceptional investment opportunity with immediate strong cash flow and significant potential for rent increases. Its prime location, combined with recent renovations and low management requirements, make it an ideal asset in one of Florida’s most sought-after markets.

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Details

  • Lot area (sqft):
    20038 sqft
  • Building area (sqft)::
    9431 sqft
  • Price ($):
    $3,100,000
  • Year built:
    1989
  • Cap Rate:
    6%
  • Portfolio: 13 units