Off-Market Property at 5164 NE 16th Ave, Pompano Beach, FL, 33064
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5164 NE 16th Ave, Pompano Beach, FL, 33064

$360,000

Description

Profitable Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented on Airbnb for an average of $188 per day and long-term for an average of $2,175 per month, based on similar listings in the area. Estimated short-term cap rate of 4.7%. Estimated long-term cap rate of -0.6%. PRIME investor opportunity w/ endless possibilities. Corner lot with lot size just under a quarter of an acre, no HOA, plenty of space for parking, NO city parking regulations for an RV/boat/trailer, AND zoning permits for an accessory dwelling unit (addition can be attached or a freestanding unit). The property is only a few minutes away from several beaches, fishing piers, family attractions, nightlife and entertainment, making it an ideal use for Airbnb, vacation or short-term rental. Property needs a few repairs and some TLC. Priced accordingly. Upgrades in 2021: impact doors/windows, flooring, kitchen, appliances, tankless hot water heater, white vinyl fence, 14X10 shed Mini split 2016, Roof replaced in 2020. Currently tenant occupied. No showings between 2-5pm on weekdays.

Property Information
Airbnb Avg Daily
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Occupancy Rate
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Monthly HOA
$0
Rental Policy
daily
Yearly Taxes
$5312
Bedrooms
2
Bathrooms
1
SQFT
620
Furnished
unknown
Year built
1956
Listing Status
Off Market
MLS
F10426535

Short-term Rental Potential
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$45,288

Revenue
Expenses
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Profit
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Cap rate
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Cash on Cash
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$580

Price/SQFT

Long-term Rental Potential
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$26,100

Revenue
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Profit
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Cap rate
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Cash on Cash
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$2,175/mo

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