Wilson Apartments
For saleUnder contract971 SE 22nd Ave, Pompano Beach, FL 33062
Property type
Multifamily
Unit / Space count
8
Price
$1,400,000
Building size
3,186 sf
Rentable area
3,186 SF
Year built
1957
Year renovated
Occupancy
Zoning code
Lot size
0.23 Acres
Bedroom count
CAP
3.09%
Price per Unit
$175,000
Price per SF
$439.42
Property description
971 SE 22nd Ave presents an opportunity to acquire an 8-unit multifamily asset totaling 3,186 square feet. Constructed in 1957, the property offers investors a well-established residential building with a unit count that supports operational efficiency while maintaining a manageable scale. The RM-20 zoning designation provides a valuable foundation for continued multifamily use, making the asset well-positioned for both traditional rental operations and strategic value-enhancement initiatives. The property's compact garden-style configuration creates an attractive investment profile for owners seeking stable cash flow from a diversified rent roll. With eight separate units housed within a single building, investors benefit from economies of scale while retaining the flexibility typically associated with smaller multifamily properties. The building's established construction and functional layout offer a platform for future upgrades that may support rental growth and increased asset value over time. In addition to conventional multifamily operations, the property's size and unit mix may present opportunities for investors exploring short-term rental strategies, subject to applicable regulations and operational considerations. The combination of eight units, RM-20 zoning, and a proven multifamily format creates multiple pathways for income generation, positioning the asset as a versatile investment opportunity for buyers seeking both current revenue potential and long-term upside.
Property highlights
- Well-Maintained, Value-Add Opportunity In Supreme Pompano Beach Location
- First Time Property Has Been Available On Market In Over 36 Years
- Long-Term Tenants With All Of Them Month-To-Month
- Opportunity To Significantly Increase Rents By 36.42%
- Can Do Both Traditional Rentals And Short-Term Rentals, Providing Various Ways To Maximize Income
- Recent Capital Expenditures Include New Washer/Dryer & New Water Heater In Laundry Room And New Lush Landscaping
- Property Features All New Interior Electric Panels And Various Plumbing Updates Throughout Units
- Interiors Have All Had Updates Over Time With Modern, Classic Finishes And Are In Pristine Condition
- Amenities Include Ample Parking For Tenants and Guests, Common Outdoor Courtyard Space, And Laundry Room
- Located Just East Of N Federal Hwy Within Walking Distance To Numerous Retailers, Restaurants, Healthcare Facilities, Offices, Etc.
- Prime Pompano Beach Location North Of E Mcnab Road And South Of E Atlantic Ave Providing Easy Access To Anywhere In Broward Via I-95