741 Hibiscus Ave Pompano Beach, FL 33062

741 Hibiscus Ave Pompano Beach, FL 33062
$4,800,000
$4,800,000
741 Hibiscus Ave Pompano Beach, FL 33062

Overview

Discover the charm of 741 Hibiscus Ave, Pompano Beach, FL 33062—your gateway to the beach and an exceptional investment opportunity! Nestled in one of the few South Florida neighborhoods that still exudes a genuine small-town vibe, this recently updated property features 17 units (16 legally permitted) spread across three buildings on a sprawling .57-acre corner lot with a secure fence.
Property Highlights:
  • Unit Layout: Originally configured with 9 studios, 6 one-bedroom, and 2 two-bedroom units.
  • Modern Upgrades:
    • New floors
    • Brand-new HVAC system
    • Roof replaced in October 2023
    • Updated plumbing and electrical
    • Revamped kitchens
    • Freshly installed fencing, irrigation system, landscaping, and pool pump
  • Enhanced Appeal: Fully renovated to attract short-term rental guests. Two units are already successfully operating as Airbnbs with high returns.
Investment Potential:
  • 10% Cap Rate: Unlock lucrative income potential by converting the remaining units to short-term rentals.
  • Licensing in Place: Includes a State Transient License, with conditional City Hotel License approval pending driveway paving (to be completed before closing).
This property is perfect for investors seeking a turnkey vacation rental hotspot in a highly desirable location. Walk to the beach, embrace the small-town charm, and enjoy a robust ROI with this prime Pompano Beach asset!
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Details

  • Lot area (sqft):
    25,265 sqft
  • Building area (sqft)::
    7,989 sqft
  • Price ($):
    $4,800,000
  • Year built:
    1951
  • Cap Rate:
    7.92%
  • Single Asset

Amenities

  • 24 Hour Access
  • Air Conditioning
  • Kitchen
  • Laundry
  • Refrigerator
  • Shower
  • Swimming Pool