AvailableMultifamily Sale

6 Coral Springs Units

10201 NW 35th St, Coral Springs, FL 33065

Offering Price$1,790,000
Units6
Building5,387 SF
Land14,866 SF
Actual Cap5%
Proforma Cap7%
6 Coral Springs Units listed by Fidelity Real Estate Group
Property Photos

Photo Gallery

37 Photos
Property Overview

Investment Opportunity

Well-Maintained 6-Unit, In The Heart Of Coral Springs! This Multifamily Property Sits On An Oversized Corner Lot Spanning 14,866 Sq Ft And Offers An Excellent Unit Mix Consisting Of Two 3-Bed 2-Bath, Two 2-Bed 2-Bath, & Two 1-Bed 1.5 Bath. Most Units Have Been Updated Over The Last Few Years With Modern Kitchens And Updated Flooring. Building Features A 2007 Roof, Hurricane Impact Windows And Doors, And Central A/C. Rents Are Currently Below Market With A Current Gross Of $127,800, Annual Expenses Of $36,320, Including Taxes $23,930, Lawn Maintenance $1,200, Insurance (No Wind) $5,250, Water $5,400, And House Electric Of $540, With Trash Included In Taxes. A Rare Opportunity To Acquire A Stable Asset In A Prime Coral Springs Location With Built-In Value-Add Potential. A Must See!!!

Property Information

Property Details

Property Basics

Property CategoryMultifamily Sale
CountyBroward
ZoningRM-20
Units6
APN4841-16-06-1470
Building SF5,387 SF
Land SF14,866 SF
Land Acres0.34
Year Built1985

Building & Systems

Number of Buildings1
Number of Stories2
Electric Meters6
Water Meters1
LaundryShared Laundry Room - Coin Operated
Roof TypeHIP OR GABLE
Roof Year2006
HVACCentral

Investment Metrics

Price Per Unit$298,333
Price Per Building SF$332.28 / SF
Price Per Land SF$120.41 / SF

Property Improvements

Some Units
Kithens

Updated

Some Units
Flooring
Some Units
Newer Inside Units

A/C

One Newer A/C
A/C
Financial Overview

Investment Financials

Actual Financials

Gross Income$132,000
Operating Expenses$34,881
Net Operating Income$97,119
Cap Rate5%

Proforma Financials

Gross Income$158,400
Operating Expenses$34,881
Net Operating Income$123,519
Cap Rate7%

Unit Mix

10201
Occupied
Bed/Bath3/2
Actual Rent$2,000
Proforma Rent$2,600
LeaseMTM
10207
Occupied
Bed/Bath3/2
Actual Rent$2,600
Proforma Rent$2,300
LeaseMTM
10205
Occupied
Bed/Bath2/2
Actual Rent$1,500
Proforma Rent$2,300
LeaseMTM
10211
Occupied
Bed/Bath2/2
Actual Rent$1,800
Proforma Rent$2,300
LeaseMTM
10203
Occupied
Bed/Bath1/1
Actual Rent$1,500
Proforma Rent$1,800
LeaseMTM
10209
Occupied
Bed/Bath1/1
Actual Rent$1,500
Proforma Rent$1,800
LeaseMTM

Expense Breakdown

Taxes$23,931.00
Insurance$5,250.00
Water$4,500
Landscaping$1,200
Total Expenses$34,881

Additional Income

  • Laundry | Actual Monthly: $100 | Actual Annual: $1200 | Proforma Annual: $1200

Expense Notes

Insurance No Wind. Trash included with taxes