This is a dream lot, on a cul-de-sac, build-able for a six unit apartment complex in a great rental area (neighboring a beautiful park) and prime location at an unbeatable price! Perfect for Builders, Investors, and Land lords. Address: 541 SW 2nd Court, Pompano Beach, FL 33060 Call me (Mike) at anytime for more information! The lot has the sought after RM-30 multi-family zoning and is build-able for six units. 2 bed/ 1 bath apartments are renting for $1,000-$1,100 per month. These are older buildings; tenants will pay more for brand new construction! And rents are continually rising! This breaks down into very simple math. Price of Lot: $79,900 Cost Build Six 800 Sqaure Foot Units: $384,000 ($80 per sqft x 4800 sqft) Total Investment: $463,900 Rent For: $7,200 per month ($1,200 per unit x 6) Annual Income: $86,400! When you take into account the very low, if not non-existant, expenses on a brand new constructed building and the very low, if not non-existant, vacancy in this great rental area, this yields you over a 18% CAP rate! (Return on Investment) You will be hard pressed to find ANY rental that yields a 18% CAP rate ANYWHERE in Broward county! Build it and keep it as an easily maintained rental and make $86k+ per year for the rest of your life (rents are continually rising) OR build it, rent it out for a year or two and sell it turnkey at a 7%-8% CAP rate (standard) and make Hundreds of Thousands of Dollars in PURE PROFIT! This is a 11,719 square foot building lot is centrally located, on a gorgeous cul-de-sac, just east of the I-95 and Atlantic intersection. It is literally neighbors with the beautiful Avondale Park that boasts state of the art playgrounds, basketball courts, pavilions with breath taking views, and more! This lot is over $50k+ under current its lowest recently sold comparable in the area (as pictured). This lot is just waiting for the right investor/builder/landlord to turn it into a beautiful new multi-family residence and start collecting fat rent checks! Or just buy and hold and watch the market continue to rise! YOUR CASH PRICE: $79,900! Cash or Hard Money Only. Building permits in Broward County are at a 4 year high! Take a drive by, see the potential, and give me a call to tie it up while it's still available. Call me (Mike) at for more information today; I'm always glad to answer any and all questions!
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