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$ 8,500,000
Est. payment /mo
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301 NW 32nd Ct #1-46 Pompano Beach, FL 33064
35,346 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 35,346 sqft
Price per Sqft $240
MLS Listing ID A12074813
HOA Y/N No
Year Built 1975
Lot Size 2.370 Acres
Acres 2.37
Property Sub-Type Multi Family
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.
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.
Location
State FL
County Broward
Area 3425
Zoning RM-20
Interior
Heating Central
Cooling Central Air
Exterior
Private Pool Yes
Building
Sewer Public Sewer
Water Public
Others
Tax ID 484223200010
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12074813
Listed by Fausto Commercial Realty Consultants Inc
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