For Sale
$1,750,000

4291 114Th Ter Coral Springs, FL 33065

5-Unit Waterfront Property, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional investment opportunity presents a two-story, five-unit multifamily property located in Coral Springs, Florida, at 4291 NW 114th Terrace, in the 33065 zip code. The property boasts 6,468 square feet on a sizable lot and features four three-bedroom, two-bathroom units and one spacious two-bedroom, two-and-a-half-bathroom townhome. All units include washer/dryer hookups, and the upstairs units offer private balconies with stunning waterfront views. The building is in excellent condition, highlighted by a newer roof (approximately seven years old). Currently operating at 100% occupancy, the property generates a substantial annual gross income of $139,200. Annual expenses total $46,047, encompassing property taxes ($19,847), landscaping ($1,200), insurance ($22,000), and water ($3,000). This results in a strong net operating income (NOI) of $93,153, with a pro-forma NOI of $103,953. The property is zoned RM-15 and includes 11 parking spaces. The asking price is $1,750,000, representing a price per square foot of $270.56 and a price per unit of $350,000. The property's attractive 5.32% cap rate makes it a compelling investment prospect. This waterfront property offers a rare combination of strong cash flow, desirable location, and significant upside potential. The property's superior condition and high occupancy rate ensure a secure and profitable investment. This is a must-see property for discerning investors seeking a high-return, low-risk opportunity.

Highlights

  • Waterfront property on a 0.25+ acre lot.
  • Newer roof (approx. 7 years old).
  • Five units: four 3 bed/2 bath apartments and one 2 bed/2 bath townhome.
  • Six in-unit washer/dryer hookups.
  • NOI: $93,153 (approx.).

Property Details for 4291 114Th Ter

Property type
Specialty properties
Square Feet
6,468 SF
Year Built
1989
Buildings
1
Stories
2
Units
5

Location Insight

City
Coral Springs
County
Broward
State
Florida
Latitude
26.2846698
Longitude
-80.2789535

FAQs

What type of property is this?
Specialty property - 5-Unit Waterfront Property, High NOI
Where is the specialty property located?
The property is located at 4291 114Th Ter Coral Springs, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Waterfront property on a 0.25+ acre lot.; Newer roof (approx. 7 years old).; Five units: four 3 bed/2 bath apartments and one 2 bed/2 bath townhome.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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4291 114Th Ter
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