7-Unit Apartment
New
For Sale
$2,499,999
10675 Royal Palm Boulevard, Coral Springs, FL 33065
Residential Income, Coral Springs, FL
Property Size8,407 SF
Lot Size0.47 Acres
Price / SF$297.37
Days on Market2
Property Features for 10675 Royal Palm Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM20
Bedrooms
19
Full bathrooms
14
Half bathrooms
1
Rooms
Bathroom 4, Bathroom 14, Bedroom 3, Bathroom 5, Bedroom 15, Bedroom 11, Bathroom 6, Bathroom 13, Bedroom 5, Bedroom 19, Bedroom 1, Bathroom 7, Bedroom 17, Bedroom 9, Bedroom 10, Bedroom 18, Bedroom 4, Bedroom 13, Bedroom 8, Bathroom 3, Bedroom 12, Bedroom 6, Bathroom 10, Bathroom 8, Bathroom 12, Bathroom 15, Bathroom 9, Bathroom 11, Bedroom 2, Bedroom 7, Bedroom 14, Bathroom 1, Bedroom 16, Bathroom 2
Pets allowed
No, Yes
Exterior features
Garden
Subdivision
7 UNITS FOR SALE
Elementary school
Parkside
Middle school
Sawgrass Springs
High school
Coral Glades
Standard status
Active
APN
484120014270
Size
8,407 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CORAL SPRINGS COUNTRY CLUB SUB 60-43
Tax Annual Amount
44000
Legal Description
CORAL SPRINGS COUNTRY CLUB SUB 60-43
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
washer and dryer
private patio or balcony
separate electric meter
Building Details
Year built
1987
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Carpet, Tile
Building materials
Block - Decorative
Roof type
Barrel
Listing Agency:
Fidelity Real Estate Group LLC
(954) 345-9144
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Added: Aug 27
Changed: Aug 28
Last Checked: Aug 28 at 9:06AM
MLS# B26069229
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7-unit apartment property contains 8,407 square feet on a 0.47-acre corner lot. The unit mix includes one three-bedroom, 2.5-bath townhome, four three-bedroom, two-bath residences, and two two-bedroom, two-bath residences. Each unit has a washer and dryer, private patio or balcony, and separate electric meter. Built in 1987, the property features decorative block construction, ceramic tile and carpet flooring, central heating, central air, ceiling fans, and barrel roofing.
Located at 10675 Royal Palm Boulevard in Coral Springs, the property is served by public water and public sewer. RM20 zoning and cable availability are also noted. The property includes garden exterior features and sits within ZIP Code 33065.
Located at 10675 Royal Palm Boulevard in Coral Springs, the property is served by public water and public sewer. RM20 zoning and cable availability are also noted. The property includes garden exterior features and sits within ZIP Code 33065.
Key Highlights
- 7‑unit apartment property with 8,407 square feet on 0.47 acres
- Unit mix includes one 3‑bedroom, 2.5‑bath townhome, four 3‑bedroom, 2‑bath units, and two 2‑bedroom, 2‑bath units
- Every unit includes a washer and dryer, private patio or balcony, and separate electric meter
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$134,063
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,681,260
$2.7M
Cap Rate 7%
$1,915,186
$1.9M
Cap Rate 9%
$1,489,589
$1.5M
Market Conditions
NOI Build-Up for 8,407 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$255.2K $30.36/SF
− Vacancy
−$11.5K −$1.37/SF
EGI
$243.8K $28.99/SF
− OpEx
−$109.7K −$13.05/SF
NOI
$134.1K $15.95/SF
Area
Coral Springs, FL
Vacancy
4.50%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,681,260
Cap Rate 7%
$1,915,186
Cap Rate 9%
$1,489,589
Alternative Uses
Best Use
Apartment 5plus
$1.92M
$1.68M – $2.23M
NOI $134,063 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$14.34M
$12.54M – $16.73M
NOI $1,003,546 @ 7.0% cap · market cap 40.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 33065, FL
59,668
Population
21,416
Households
2.8
Avg Household Size
36
Median Age
31%
College-Educated
93%
High-School Grad
8.6 sq mi
ZIP Area
6,938
Density / Sq Mi
$70,435
Median Household Income
$36,255
Median Earnings
$1,833
Median Rent
$416,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - RM20-zoned residential property with private outdoor spaces, in-unit laundry, separate electric meters, and public utilities.
Where is this apartment building located?
The property is located at 10675 Royal Palm Boulevard Coral Springs, FL.
What is the asking price?
The asking price for this property is $2,499,999.
What are key features of this property?
This property features: 7‑unit apartment property with 8,407 square feet on 0.47 acres; Unit mix includes one 3‑bedroom, 2.5‑bath townhome, four 3‑bedroom, 2‑bath units, and two 2‑bedroom, 2‑bath units; Every unit includes a washer and dryer, private patio or balcony, and separate electric meter
