Multifamily in Pompano Beach, FL 33062

Santa Barbara Estates, 2255 SE 5th St

Fausto Commercial is pleased to present 2255 SE 5th Street, a 10-unit multifamily investment opportunity in the highly desirable Southeast Pompano Beach submarket. Located east of Federal Highway and minutes from the beach, Pompano Beach Pier, dining, entertainment, and retail destinations, the property benefits from strong rental demand and excellent accessibility. The property consists of 10 renovated one-bedroom, one-bathroom units within a well-maintained concrete building totaling approximately 5,880 SF. Units feature updated interiors and central air conditioning, and residents have access to an on-site coin laundry facility. The asset currently generates $209,880 in gross annual income and is offered at a 7.29% cap rate, providing strong in-place cash flow. The property offers additional upside potential through continued rental rate optimization. Market-rate rents are projected to increase gross annual income to more than $224,000, resulting in an estimated 8.0% cap rate. Supported by more than $2 billion in ongoing redevelopment throughout Pompano Beach, the property is well-positioned to benefit from continued growth, rising rental demand, and long-term appreciation. This is an exceptional opportunity to acquire a renovated, income-producing asset in one of South Florida's most desirable coastal markets.