USAFLPompano BeachPompano by the Sea Resub1020 N Riverside Dr

1020 N Riverside Dr, Pompano Beach, FL

House

For Sale

Listed price in listed location currency (USD).

$5,750,000

0290

MLS® R11140438

Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Commercial Sale

Size -

Garage

Taxes $57,978

Days Active 114

Lot Size

Approx. Age 1964

MLS® Number R11140438

Property Address: 1020 N Riverside Dr, Pompano Beach, FL, 33062-3922

Average square foot calculated using Size range provided by listing agent.

Description

Incredible opportunity to acquire a 28-unit multifamily property located just steps from the beach in booming Pompano Beach. The property is approximately 75% leased and in the process of being fully stabilized, offering immediate upside for investors. At full occupancy, the asset is projected to gross $50, 000 per month in rental income (long term rents), with an NOI approaching $425, 000 annually making this a high-yielding cash-flow investment. Located less than 300 yards from Pompano's pristine public beaches! Views of both the intracoastal and the ocean! Ideally positioned east of the intracoastal and one block from the Intracoastal, the property is walkable to the beach, Pompano Pier, and the newly revitalized Fishing Village. The unit mix consists of approximately 23 "studios" with each one having its own kitchenette and full bathroom. The remaining five(5) units consist of four (4) oversized studios and the largest unit is a full 1 BD, 1 BA unit. The studio units are rented on long term (annual) leases with an average price of approximately $1, 800/month. The larger studios and the 1 BD, 1 BA are averaging closer to $2, 000/month. Ideally positioned east of the intracoastal and one block from the Intracoastal, the property is walkable to the beach, Pompano Pier, and the newly revitalized Fishing Village. This area has become a destination with major public and private investment pouring in, including high-end residential towers, hotel-branded residences, and infrastructure upgrades, including marquee projects like the Waldorf Astoria Residences (70% pre-sold), Ritz-Carlton and Armani/Casa towers, Salato condos, and Mayla multifamily communities underscoring strong investor confidence. Pompano Beach's transformation into a premier coastal hotspot makes this an attractive long-term hold. With strong fundamentals, a desirable location, and significant income potential, this is a rare opportunity to invest in one of South Florida's most exciting and fast-growing beachfront markets. Property is projected at a cap rare of 7.25% once property is fully leased out and stabilized.

MLS® NumberR11140438

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1964

Basement

Driveway

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Jan 6, 2026List Date

$5,750,000List Price

Commute

Commute

Starting Address

Destination Address

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