Maintained 8-Unit Apartment
For Sale
$2,250,000
11676 NW 45th Street, Coral Springs, FL 33065
Residential Income, Coral Springs, FL
Property Size8,154 SF
Lot Size0.51 Acres
Price / SF$275.94
Days on Market93
Property Features for 11676 NW 45th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM-15
Bedrooms
8
Full bathrooms
8
Rooms
Bedroom 7, Bathroom 5, Bathroom 2, Bathroom 3, Bathroom 7, Bathroom 8, Bathroom 6, Bedroom 8, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 4, Bedroom 6, Bathroom 1, Bedroom 5
Patio and Porch features
Patio, Porch
Pets allowed
Yes, Size Limit
Exterior features
Balcony, Courtyard
Fencing
Fenced
Subdivision
GLENWOOD SUBDIVISION
Lot features
Corner Lot
Elementary school
Coral Springs
Middle school
Coral Springs
High school
Coral Glades
Standard status
Active
APN
484117020280
Size
8,154 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
GLENWOOD SUBDIVISION 69-33 B LOT 1 BLK B
Tax Annual Amount
35758
Legal Description
GLENWOOD SUBDIVISION 69-33 B LOT 1 BLK B
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
laundry rooms
Building Details
Year built
1984
Floors in Building
2
Number of units
4
Flooring type
Tile
Building materials
Aluminum Siding, CBS, Stucco
Roof type
Barrel, Tile
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Chantal Levy · License #3483991
(954) 849-2135
Added: Jun 7
Changed: Sep 4
Last Checked: Sep 7 at 5:06AM
MLS# B26038008
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 two-story apartment building contains 8 units with 16 bedrooms and 16 bathrooms across 8,154 square feet. The property sits on 0.51 acres and was built in 1984. Recent improvements and features include a 2021 roof, central heating and cooling, tile flooring, balconies, a courtyard, patio and porch areas, fencing, and two separate laundry rooms. Public water and sewer serve the property, and the 40-year inspection has been completed.
All units are currently occupied, with 17 dedicated parking spaces supporting the building. The property is located at 11676 NW 45th Street in Coral Springs, near shopping and dining and within minutes of major highways. RM-15 zoning applies to the site.
All units are currently occupied, with 17 dedicated parking spaces supporting the building. The property is located at 11676 NW 45th Street in Coral Springs, near shopping and dining and within minutes of major highways. RM-15 zoning applies to the site.
Key Highlights
- 8‑unit, 16‑bedroom, 16‑bathroom apartment building
- 8,154 square feet on a 0.51‑acre lot
- Fully rented and occupied
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
$130,028
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
5.78%
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%
$2,600,560
$2.6M
Cap Rate 7%
$1,857,543
$1.9M
Cap Rate 9%
$1,444,756
$1.4M
Market Conditions
NOI Build-Up for 8,154 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
$247.6K $30.36/SF
− Vacancy
−$11.1K −$1.37/SF
EGI
$236.4K $28.99/SF
− OpEx
−$106.4K −$13.05/SF
NOI
$130.0K $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%
$2,600,560
Cap Rate 7%
$1,857,543
Cap Rate 9%
$1,444,756
Alternative Uses
Best Use
Apartment 5plus
$1.86M
$1.63M – $2.17M
NOI $130,028 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.90M
$12.17M – $16.22M
NOI $973,345 @ 7.0% cap · market cap 43.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
878
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with separate laundry rooms, dedicated parking, and updated roofing.
Where is this apartment building located?
The property is located at 11676 NW 45th Street Coral Springs, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 8‑unit, 16‑bedroom, 16‑bathroom apartment building; 8,154 square feet on a 0.51‑acre lot; Fully rented and occupied
