Active
multifamily
SALE
301 Nw 32nd Court 1-46, Pompano Beach, Florida 33064
Pompano Beach, FL 33064
$8,500,000
Property Details
MLS#
A12074813
Type
Multifamily
Year Built
1975
Property Description
Fausto Commercial is pleased to present Olive Glenn Apartments, a 46-unit multifamily investment opportunity in Pompano Beach, Florida. The offering consists of a 22-unit two-story apartment building located at 301 NW 32 Ct, together with six adjacent fourplex villa-style buildings located at 3111, 3109, 3107, 3105, 3007, and 3108 NW 3 Ave.The property includes a balanced unit mix of 1 studio, 23 one-bedroom / one-bath units, and 22 two-bedroom / two-bath units, with many units featuring oversized layouts that support strong tenant appeal.The asset is currently operating at an in-place 6.14% cap rate with eight vacant units, creating a clear near-term value-add opportunity. Upon leasing the vacant units, the property is projected to reach approximately an 8.08% cap rate with pro forma gross operating income of approximately $1,008,000.With multiple buildings positioned largely adjacent to one another, Olive Glenn Apartments benefits from operational efficiency, on-site management practicality, and the diversification advantages of a multi-building portfolio. The villa-style fourplex configuration also creates a more residential feel that can support tenant retention and long-term stability.
Amenities
Built 1975
Cooling: Central Air
Heating: Central
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30 Year Fixed, 6.59% Interest
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Property Location
Listing Office:
Fausto Commercial Realty Consultants Inc
Listing Agent:
Elior Levi
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