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Freshwater Group Acquires Multifamily Property In Pompano Beach From Metropolitan Property Group For $3.4M

Property Image
SOLD
$3,400,000

Florida

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MultiFamily12,018 SF
Sold 07/18/2025
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Property Image
SOLD

Freshwater Group Acquires Multifamily Property In Pompano Beach From Metropolitan Property Group For $3.4M

771 Southwest 8th Street

See Similar Deals
MultiFamily12,018 SF
Sold 07/18/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$282
Total Square Footage:12,018 SF
Transaction Type:Sale

A 22-unit multifamily property was sold in Pompano Beach for $3.4 million, amounting to $283 per square foot. The asset, encompassing 12,018 square feet, is situated at 771 Southwest 8th Street and spans 0.48 acres. The property was built in 1973 and is zoned RM-20. The transaction occurred without any recorded debt.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,400,000
  • Units: 22
  • Price Per Unit: $154,545
  • Square Footage: 12,018
  • Price Per Square Foot: $283
  • Buyer: Freshwater Group
  • Seller: Metropolitan Property Group Florida
  • Broker: Joseph Thomas - Marcus & Millichap

The deal was brokered by Joseph Thomas of Marcus & Millichap, highlighting his role as the representative for the transaction. This acquisition reflects Freshwater Group's interest in expanding its multifamily portfolio within the Pompano Beach market.

Players

Joseph Thomas
Marcus & Millichap
Joseph Thomas
53 deals$372.9M volume
BROKER

Details

SOLD
IMAGE: Joseph Thomas DATE: 07/18/2025 ADDRESS: 771 Southwest 8th Street MARKET: Pompano Beach ASSET TYPE: Multifamily ~ ACRES: 0.48 BUYER: Freshwater Group SELLER: Metropolitan Property Group Florida BROKER: Joseph Thomas (@ThomasDuncanTeam) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $3,400,000 UNITS: 22 ~ PPU: $154,545 SF: 12,018 ~ PPSF: $283 NOTE: Freshwater Group bought a 22-unit, 12,018-sf multifamily property in Pompano Beach for $3.4M ($283/sf) from Metropolitan Property Group Florida. Joseph Thomas of Marcus & Millichap brokered the deal; the 1973-built asset sits on 0.48 acres zoned RM-20 with no recorded debt.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$181,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,079.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,117.73
Annual Debt Service$193,412.82