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3700 NW 116Th Ter Coral Springs, FL 33065

For Sale
$1,239,000

Four units with stable income, near shopping and expressway.

Building Details

Year built
1987

Source: Pala Homes Inc Agent Shibu Scaria

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Coral Springs Four-Unit Multifamily Property

This four-unit property is located in Coral Springs. Each unit includes 3 bedrooms and 2 bathrooms, as well as in-unit laundry facilities. Ample parking is available. The property has no Homeowners Association. It is approved for housing vouchers, providing a stable rental income of $9750 for all units. The gross annual income is $117000, with estimated expenses of $31,000 per year. Market rents are approximately $2,800 per month, potentially increasing the capitalization rate to 6.5%. The property is located near Costco, Coral Square Mall, and Sawgrass Mills, and is 2 minutes from the Sawgrass Expressway. The four air conditioning units are less than 4 years old, and the 40-year inspection has been passed.
Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Coral Springs
County
Broward
State
Florida
Longitude
-80.2820724
Latitude
26.2765237

FAQs

What type of property is this?
Quadplex - Four units with stable income, near shopping and expressway.
Where is this quadplex located?
The property is located at 3700 NW 116Th Ter Coral Springs, FL.
What is the asking price?
The asking price for this property is $1,239,000.
What are key features of this property?
This property features: - High Income Potential: Enjoy a stable rental income of $9,750/month from housing vouchers, totaling $117,000/year.; - Strong Investment Opportunity: Potential 6.5% cap rate based on market rents of approximately $2,800/month per unit.; - Four Spacious Units: Each unit features 3 bedrooms and 2 bathrooms with in-unit laundry.
More about this property
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