Hotel in Pompano Beach, Florida № 1995890

Property description

7 apartments of the 11 total are available for purchase in this beautiful 4 story condominium located directly on the sand. The 7 (full kitchens and fully furnished) were purchased as a family retreat 16 years ago. You must come and experience the tranquility of the property to appreciate what it has to offer – Spectacular views, heated pool, private beach area, convenient parking, elevator, 2 laundry rooms… Per the recently completed Structural Integrity Reserve Study the property is well maintained plus it has a new roof, pool heater / pump and standpipe fire system. The condo association monthly fee is only $650 per apartment, and there is $20,000 in the reserve fund. The other 4 owners are out of state and seldom use their apartment. Per the Association’s condo attorney, owning 51% of the apartments provides the opportunity to replace board members and thereby have partial control of the Association. And when an owner decides to sell, you have the first right of refusal to purchase their apartment.