- MLS® #: RX-11140438
- 1020 N Riverside Dr
- Pompano Beach, FL 33062
- $5,995,000
- 10,642 SqFt, 0.58 Acres
- Commercial
Incredible opportunity to acquire a 28-unit multifamily property located just steps from the beach in booming Pompano Beach. The property is approximately 75% leased and in the process of being fully stabilized, offering immediate upside for investors. At full occupancy, the asset is projected to gross $50,000 per month in rental income (long term rents), with an NOI approaching $425,000 annually making this a high-yielding cash-flow investment. Located less than 300 yards from Pompano's pristine public beaches! Views of both the intracoastal and the ocean! Ideally positioned east of the intracoastal and one block from the Intracoastal, the property is walkable to the beach, Pompano Pier, and the newly revitalized Fishing Village.The unit mix consists of approximately 23 "studios" with each one having its own kitchenette and full bathroom. The remaining five(5) units consist of four (4) oversized studios and the largest unit is a full 1 BD, 1 BA unit. The studio units are rented on long term (annual) leases with an average price of approximately $1,800/month. The larger studios and the 1 BD, 1 BA are averaging closer to $2,000/month. Ideally positioned east of the intracoastal and one block from the Intracoastal, the property is walkable to the beach, Pompano Pier, and the newly revitalized Fishing Village. This area has become a destination with major public and private investment pouring in, including high-end residential towers, hotel-branded residences, and infrastructure upgrades, including marquee projects like the Waldorf Astoria Residences (70% pre-sold), Ritz-Carlton and Armani/Casa towers, Salato condos, and Mayla multifamily communities underscoring strong investor confidence. Pompano Beach's transformation into a premier coastal hotspot makes this an attractive long-term hold. With strong fundamentals, a desirable location, and significant income potential, this is a rare opportunity to invest in one of South Florida's most exciting and fast-growing beachfront markets. Property is projected at a cap rare of 7.25% once property is fully leased out and stabilized.
View Virtual TourEssential Information
- MLS® #RX-11140438
- Price$5,995,000
- Square Footage10,642
- Acres0.58
- Year Built1964
- TypeCommercial
- Sub-TypeIncome
- StyleResident. Multi-Fam.
- StatusActive
Community Information
- Address1020 N Riverside Dr
- Area3113
- SubdivisionPOMPANO BY THE SEA RESUB
- CityPompano Beach
- CountyBroward
- StateFL
- Zip Code33062
Amenities
- UtilitiesPublic Sewer, Public Water
- WaterfrontIntracoastal
Interior
- AppliancesBuilding and Land
- HeatingCentral, Electric, Other
- # of Stories2
Cooling
Central Building, Electric, Other
Exterior
- Lot Description28 UNIT MULTIFAMILY
- RoofComp Shingle
Additional Information
- Date ListedNovember 13th, 2025
- Days on Website38
- ZoningRM-20
- Office: Compass Florida Llc
Property Location
1020 N Riverside Dr on www.jupiterabacoahomes.us
Offered at the current list price of $5,995,000, this home for sale at 1020 N Riverside Dr features bedrooms and 0 bathrooms. This real estate listing is located in POMPANO BY THE SEA RESUB of Pompano Beach, FL 33062 and is approximately 10,642 square feet. 1020 N Riverside Dr is listed under the MLS ID of RX-11140438 and has been available through www.jupiterabacoahomes.us for the Pompano Beach real estate market for 38 days.
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Listing information last updated on December 21st, 2025 at 11:45am CST.