Walk-to-the-beach rental building with legacy density
Elevator-served apartment building a short walk from the beach, held by one owner for decades and offered off-market. In-place rents sit well below the coastal market, and the owner reports recent roof, impact-window and elevator work.
A long-held apartment building in an east Pompano Beach pocket that is seeing new high-end residential construction. The unit mix is mostly one- and two-bedroom apartments, plus two unusually large residences that are rare in a rental building of this size.
The owner advises that the building’s density predates current zoning and could not be replicated today. That is a genuine scarcity argument, and it cuts both ways: verified buyers should confirm the legal non-conforming status and what it means for rebuilding, insurance and financing.
Rents in place are well below what the coastal market supports, so the case rests on marking units to market as leases turn, with the owner’s recent capital work reducing near-term spend.
Verified buyers receive the address, the unit-by-unit mix, the owner’s income and expense figures, and our own reconciliation of them — which we would encourage you to read before underwriting the headline yield.
Property highlights
- A short walk to the beach, on the east side of the Intracoastal
- Density the owner advises predates current zoning and could not be built today
- Owner reports a new roof, new impact windows and a new elevator
- In-place rents well below the coastal market, so income rises as leases turn
- Two unusually large residences, including an owner's penthouse suite
- Individually metered units, with more meters in place than units
- A neighborhood seeing new high-end residential construction
Property details
- Unit mix
- Mostly 1- and 2-bedroom, plus two large residences
- Typical unit size
- About 850–1,100 sq ft
- Building
- Mid-rise, elevator-served
- Vintage
- 1960s
- Lot
- About 0.3 acres
- Parking
- On-site surface parking
- Recent capital work
- Roof, impact windows, elevator (owner-reported)
- Utilities
- Individually metered electric
- Cooling
- Central system with cooling tower
- Ownership
- Same owner for more than 20 years
Financial snapshot
Seller-reported · not yet verified by us- Gross income (annual)
- $260K–$290K
- Operating expenses (annual)
- $75K–$90K
- Net operating income
- $180K–$200K
- Cap rate (stated)
- 3.75%–4%
- Rent roll, operating statement and our reconciliation
- After the NDA
As reported by the owner and not yet verified. The expense figures do not include management, vacancy, repairs or reserves, and property taxes will be reassessed on sale — underwrite accordingly. Our line-by-line reconciliation goes to verified buyers with the rent roll.
Likely to suit
- Value-add
- 1031 exchange
Brought to market September 2026.
Why isn't the address here?
Because the owner asked us to keep it private — that is usually the reason a property comes to us instead of going to market. Verified buyers get everything.
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