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$1,988,000

For Sale - Active
704 N Ocean Blvd Apt 404, Pompano Beach, FL 33062
3 Beds
3 Baths
2,599 Square Feet
0.00 Acres Lot
Built in 2007
For Sale - Active
Units n/a
Checked: 18 hours ago
Updated: Oct 11, 2025 at 10:07AM

Investment Summary


Monthly Cash Flow
-$6,306
Cap Rate
2.3%
Cash-on-Cash Return
-16.5%
Debt Coverage Ratio
0.38
Internal Rate of Return (5 years)
-12.0%

Property Description


0.00 Acres Lot
Built in 2007
For Sale - Active
Units n/a

Unique Boutique Oceanfront 32 unit Condominium. Very quiet & highly secure building offering 24 hour valet services, gym and oceanfront pool and jacuzzi overlooking mangroves. This residence is unique with the elevator opening up into your own private foyer with a dedicated key fob that only the owner can access. No hallways! A fully renovated designer 2600 square feet 3 bedroom 2.5 bath corner unit is situated on the Atlantic Ocean with expansive balconies offering spectacular ocean and city views. Split floorplan with Two Master Bedrooms and the third bedroom is dedicated as an office. This residence has a spa like feel with many designer touches including private foyer with soothing fountains upon entering the front door, a soaking tub with ocean views

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Location


Property Details


Parking

  • Details: Assigned
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 3.0

Interior Features

  • # of Stories: 8

HOA

  • Has HOA: Yes
  • HOA Fee: $2,442/monthly
  • Additional HOA Fee: $2,442

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 484331HK0080
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 2007

Tax Information

  • Annual Tax: $19,378

Utilities

  • Heating: Central, Electric
  • Cooling: Central Air, Electric

Location

  • County: Broward

Listing Details


Listed by:
Lisa Guinta
BlueChip Properties
(954) 444-6828

Source:
BeachesMLS
MLS#: F10515374
BeachesMLS

Investment Summary


Monthly Cash Flow
-$6,306
Cap Rate
2.3%
Cash-on-Cash Return
-16.5%
Debt Coverage Ratio
0.38
Internal Rate of Return (5 years)
-12.0%

Purchase Details

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Purchase price:
$1,988,000
Amount financed:
-$1,590,400
Down payment:
$397,600
Closing costs:
$59,640
Rehab costs:
$0
Initial cash invested:
$457,240
Square feet:
2,599
Cost per square foot:
$765
Monthly rent per square foot:
$4.42

Financing Details

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Loan amount:
$1,590,400
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$10,184
Property tax:
$1,615
Insurance:
$805
Private mortgage insurance (PMI):
$0
Monthly payment:
$12,604

Operating Income

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% Rent Monthly Yearly
Gross rent:
$11,500 $138,000
Vacancy loss: (6%)
6% -$690 -$8,280
Operating income:
$10,810 $129,720

Operating Expenses


% Rent Monthly Yearly
Property taxes: (14%)
14%-$1,615-$19,378
Insurance: (7%)
7%-$805-$9,660
Property management: (8%)
8%-$920-$11,040
Repairs & maintenance: (5%)
5%-$575-$6,900
Capital expenditures: (5%)
5%-$575-$6,900
HOA fees: (21%)
21%-$2,442-$29,304
Total operating expenses: (60%)
60%-$6,932-$83,182

Cash Flow


Monthly Yearly
Net operating income:
$3,878 $46,536
Mortgage payments:
-$10,184 -$122,208
Cash flow:
-$6,306 -$75,672