Why Has This Pompano Beach Fourplex Sat 669 Days? The Longest-Listed Multifamily Near Boca

Listing Spotlight

Of the 69 multifamily and income properties for sale within about 10 miles of Boca Raton on the MLS this week, one has been on the market longer than any other: a four-unit building in Pompano Beach that has logged 669 days on market. It started at $1,200,000, it now asks $1,100,000, and it's still there. The typical listing in the same search has been up for 112 days.

So why does a fourplex near the beach sit for almost two years? Here's what the listing shows, what it leaves out, and what we would want to know before making an offer.

Pompano Beach Fourplex: $1,100,000 Asking, 4 Units, 669 Days on Market

The building is in the Florence Villas subdivision, in the MLS's North Broward ocean-to-Intracoastal area of Pompano Beach. According to the listing, it has:

• Units: 4 (MLS units total), about $275,000 per unit at the asking price
• Building area: 2,887 sq ft on one story, about $381 per sq ft
• Year built: 1966, concrete block construction, metal roof
• Parking: 4 spaces
• Zoning: RM-20; flood zone AE and X per the listing
• Taxes: $14,864 (2024)
• Price history: original list price $1,200,000, now $1,100,000, a cut of $100,000 (8.3%)

Per the listing, the building has three tenants in place and one vacant unit, which the listing describes as "ready for value-add potential." The remarks call it turnkey and cash-flowing.

The Numbers: What the Listing Discloses (and What It Doesn't)

Only one unit is detailed in the MLS report: Unit 3, a 1-bedroom, 1-bath unit of about 700 sq ft, leased at an actual rent of $1,500 a month. The bedroom mix, rents and lease terms of the other three units aren't shown.

The listing reports gross income of $6,650, which is monthly, not annual. That lines up with Unit 3's $1,500 monthly rent and works out to about $1,500 to $1,700 per unit across the four units, or about $79,800 a year gross. At the $1,100,000 asking price, that's a gross rent multiplier of about 13.8 (asking price divided by that annualized gross). Because one unit is vacant, a buyer should confirm whether the $6,650 is in-place rent on the three occupied units or a pro forma that includes the vacant unit at market.

The bigger question is expenses. The listing does not disclose operating expenses or net operating income, so a cap rate can't be calculated from what's published. What is disclosed: 2024 taxes of $14,864, about 19% of that annualized gross, and no homeowners association or estimated monthly recurring association fee. Insurance, which is high in South Florida and matters here because the listing shows flood zones AE and X, plus maintenance, who pays the utilities, and the cost of filling the vacant unit, are not in the MLS. The listing does note a financial statement is available, and those figures should be verified before an offer.

For context, the 20 fourplexes in this search have a median asking price of about $1,529,500 and a median of about $502 per sq ft. This one is cheaper on both counts, which makes the 669 days more interesting, not less.

Our Take: Why It Might Be Sitting, and Who Buys It

We don't know the seller's reasons, and the listing doesn't say. But in our experience, small multifamily that sits this long usually comes down to a few things: the price runs ahead of what the rent roll can prove, the income documentation is thin, or insurance and flood costs scare off financed buyers. The listing terms are cash or conventional.

The likely buyer is a hands-on investor who wants a Pompano Beach fourplex below the per-foot median and can fill the vacant unit. Before an offer, we would ask for the full rent roll and leases, the financial statement, 12 months of expenses, insurance and flood quotes, roof and permit history, and confirmation that the $6,650 monthly gross matches the actual rent roll. As the listing itself says of the property details, buyers should verify everything independently.

Own a Multifamily Near Boca? Don't Become the Next 669-Day Listing

21 of the 69 listings in this search have been on the market more than 180 days, and 30 have cut their price. Long market times usually start with a price that the numbers don't support. If you own a duplex, triplex, fourplex or small apartment building in Boca Raton, Deerfield Beach, Pompano Beach, Delray Beach or nearby, Jon can give you a free valuation built from your actual rents and expenses, so you list at a number buyers can underwrite.

The Bottom Line

This Pompano Beach fourplex is priced below the typical fourplex near Boca, yet it's been on the market longer than any other multifamily listing in the search. The open question is the expense side, plus confirming the rent roll and filling the vacant unit. If you want the listing package, a showing, or comparable fourplexes that are moving, contact Jon Shilalis, email Jon@shilalis.com, or book a call. You can also browse every multifamily listing near Boca on our live MLS search.

Listing courtesy of Compra Venta Miami (MLS# A11723353). Data from BeachesMLS as of November 13, 2026, from Jon Shilalis's MLS search of multifamily and income properties within about 10 miles of Boca Raton (69 active listings). Rankings and medians cover only that search and are our calculation. Information is deemed reliable but not guaranteed and should be independently verified. Shilalis Real Estate is not the listing broker for this property.