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About This Property
Fausto Commercial is pleased to present Olive Glenn Apartments, a 46-unit multifamily investment opportunity in Pompano Beach, Florida. The offering consists of a 22-unit two-story apartment building located at 301 NW 32 Ct, together with six adjacent fourplex villa-style buildings located at 3111, 3109, 3107, 3105, 3007, and 3108 NW 3 Ave. The property includes a balanced unit mix of 1 studio, 23 one-bedroom / one-bath units, and 22 two-bedroom / two-bath units, with many units featuring oversized layouts that support strong tenant appeal. The asset is currently operating at an in-place 6.14% cap rate with eight vacant units, creating a clear near-term value-add opportunity. Upon leasing the vacant units, the property is projected to reach approximately an 8.08% cap rate with pro forma gross operating income of approximately $1,008,000. With multiple buildings positioned largely adjacent to one another, Olive Glenn Apartments benefits from operational efficiency, on-site management practicality, and the diversification advantages of a multi-building portfolio. The villa-style fourplex configuration also creates a more residential feel that can support tenant retention and long-term stability.
Property Features
County
Broward County
Section
23
Area
35346
Subdivision
Interior
Cooling
Central Building A/C
Bedrooms
Floors
Full Baths
Appliances
Heating
Central Building A/C
Style
Garage Spaces
Construction/Exterior
Patio / Deck Description
Exterior
Has a Pool
Possession
Funding
Lot Size in Acres
2.37
Water
Public
Sewer
Public Sanitation
Lot Size in Sq. Ft.
103188
Has Waterfront
No
Parking Description
View
Has Garage
No
Roof/Attic
Senior Community
No
Other Utilities
Property Type
Commercial Sale
Pets
Property SubType 2
Income/MultiFamily
Tax Year
NA
Year Built
1975
Tax Amount
$
APN
NA
Square Feet Source
NA
Map
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