8704 38Th DrCoral Springs, FL 33065

Property Details for 8704 38Th Dr

Year built

1978

Property size (Sq ft)

4,041 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional five-unit apartment building, located at 8704 NW 38th Dr in Coral Springs, Florida, presents a compelling investment opportunity. Boasting a desirable location in a quiet neighborhood, this single-story property, built in 1978, offers 4,041 square feet of living space and features five two-bedroom, one-bathroom units. The property enjoys 100% occupancy as of March 1st, 2024, generating a strong net operating income (NOI) of $76,794 and a 4.65% capitalization rate. Ample parking is available with eight designated spaces, supplemented by street parking. Recent renovations include high-impact windows and stainless steel appliances in each unit. Utilities are conveniently managed, with sewer, trash removal, and water included in the rent. Heating and cooling are provided via central electric systems. The property sits on a lot with APN 0640 and is zoned RM-20. This well-maintained building offers a solid return on investment and is an ideal addition to any portfolio. The asking price is $1,650,000. This is a turnkey operation ready for immediate income generation. Don't miss this chance to acquire a profitable multifamily property in a prime Coral Springs location.

Location Insight

City

Coral Springs

County

Broward

State

Florida

Latitude

26.275

Longitude

-80.243

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