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Multifamily

Avondale Parkside

541 SW 2nd Ct, Pompano Beach, FL 33060

Listing Price: $1,980,000

Cap Rate
4.64%
Number of Units
6
Occupancy
95.0%
Price/Unit
$330,000
Price/Gross SF
$378.44
Gross SF
5,232

Investment Overview

Marcus & Millichap, as exclusive listing agent, is excited to offer for sale Avondale Parkside, a newly constructed, six-unit apartment building located in Pompano Beach, Florida. The property will be delivered to the buyer with a final certificate of occupancy. Avondale Parkside is a two-story building comprised of all two-bedroom and two-bathroom apartments at 872 rentable square feet. Each apartment has central heating and air-conditioning, large walk-in closet in the master bedroom, linen closet, separate dining room, stackable washer and dryer, dishwasher, and granite and Corian countertops. Ground floor apartments have sliders leading to a small backyard and upstairs apartments have private patio. Each has a separate water and electric meter. The building is constructed of solid concrete with a concrete deck roof and concrete floors, hurricane impact windows and fire sprinklers. There is a total of ten surface parking spaces, as well as a small walking path with two trellises. The property is located in the Avondale Neighborhood, just south of Atlantic Boulevard and contiguous to Avondale Park and the on/off ramp for Interstate 95. Cypress Elementary, Pompano Beach Middle School, Blanche Ely High School, Mitchell Moore Aquatic Center and Mitchell Moore Park are all located within less than two miles. Publix Supermarket is just to the east and Isle Casino Pompano Park is just to the west. Downtown Fort Lauderdale is approximately 15 minutes to the south and Broward Health and Holy Cross Health are a short drive. Pompano Beach has been going through explosive growth including many new luxury apartment buildings, residential developments and commercial. With the intention of creating a vibrant and pedestrian friendly, urban, mixed-use Downtown to attract new commerce, the city has created the Innovation District. Following a “Smart City” concept that integrates people and places, the City and CRA have acquired over 30-acres along Interstate-95 and Atlantic Boulevard to create a “Downtown” which will be a hub for activity. This area was rezoned as a transit-oriented district enabling higher density. The area will include a series of canal systems inspired by Amsterdam and The Riverwalk in San Antonio. Developers will capitalize on drainage systems for maximum buildout by eliminating retention ponds. Offices, shops, restaurants, and outdoor cafes will line the streets. The Innovation District is across the street to the north from the Avondale Neighborhood.

Investment Highlights

  • All Two-Bedroom & Two-Bathroom Units
  • Will be delivered upon CO
  • Excellent unit amenities
  • Located in Pompano Beach just east of I-95
  • Next door to Avondale Park

Exclusively Listed By

Multifamily

Avondale Parkside

Listing Price: $1,980,000

Cap Rate
4.64%
Number of Units
6
Occupancy
95.0%
Price/Unit
$330,000
Price/Gross SF
$378.44
Gross SF
5,232

Investment Highlights

  • All Two-Bedroom & Two-Bathroom Units
  • Will be delivered upon CO
  • Excellent unit amenities
  • Located in Pompano Beach just east of I-95
  • Next door to Avondale Park

Investment Overview

Marcus & Millichap, as exclusive listing agent, is excited to offer for sale Avondale Parkside, a newly constructed, six-unit apartment building located in Pompano Beach, Florida. The property will be delivered to the buyer with a final certificate of occupancy. Avondale Parkside is a two-story building comprised of all two-bedroom and two-bathroom apartments at 872 rentable square feet. Each apartment has central heating and air-conditioning, large walk-in closet in the master bedroom, linen closet, separate dining room, stackable washer and dryer, dishwasher, and granite and Corian countertops. Ground floor apartments have sliders leading to a small backyard and upstairs apartments have private patio. Each has a separate water and electric meter. The building is constructed of solid concrete with a concrete deck roof and concrete floors, hurricane impact windows and fire sprinklers. There is a total of ten surface parking spaces, as well as a small walking path with two trellises. The property is located in the Avondale Neighborhood, just south of Atlantic Boulevard and contiguous to Avondale Park and the on/off ramp for Interstate 95. Cypress Elementary, Pompano Beach Middle School, Blanche Ely High School, Mitchell Moore Aquatic Center and Mitchell Moore Park are all located within less than two miles. Publix Supermarket is just to the east and Isle Casino Pompano Park is just to the west. Downtown Fort Lauderdale is approximately 15 minutes to the south and Broward Health and Holy Cross Health are a short drive. Pompano Beach has been going through explosive growth including many new luxury apartment buildings, residential developments and commercial. With the intention of creating a vibrant and pedestrian friendly, urban, mixed-use Downtown to attract new commerce, the city has created the Innovation District. Following a “Smart City” concept that integrates people and places, the City and CRA have acquired over 30-acres along Interstate-95 and Atlantic Boulevard to create a “Downtown” which will be a hub for activity. This area was rezoned as a transit-oriented district enabling higher density. The area will include a series of canal systems inspired by Amsterdam and The Riverwalk in San Antonio. Developers will capitalize on drainage systems for maximum buildout by eliminating retention ponds. Offices, shops, restaurants, and outdoor cafes will line the streets. The Innovation District is across the street to the north from the Avondale Neighborhood.

Exclusively Listed By

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