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

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.