4-Unit Multifamily
New
For Sale
$1,499,000
1831-1837 NW 94th Avenue, Coral Springs, FL 33071
Residential Income, Coral Springs, FL
Property Size4,000 SF
Lot Size0.31 Acres
Price / SF$374.75
Days on Market3
Property Features for 1831-1837 NW 94th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multifamily
Bedrooms
12
Full bathrooms
8
Half bathrooms
6
Rooms
Bedroom 8, Bedroom 7, Bathroom 7, Bedroom 3, Bathroom 12, Bathroom 6, Bathroom 9, Bathroom 3, Bathroom 5, Bathroom 8, Bathroom 1, Bedroom 12, Bedroom 1, Bathroom 2, Bedroom 11, Bedroom 2, Bedroom 10, Bathroom 14, Bathroom 11, Bathroom 10, Bedroom 5, Bathroom 13, Bedroom 9, Bathroom 4, Bedroom 6, Bedroom 4
Window features
Blinds
Patio and Porch features
Porch, Patio
Pets allowed
No, Yes
Subdivision
CORAL SPRINGS UNIVERSITY DRIVE SUB
Lot features
Landscaped
Elementary school
Ramblewood
Middle school
Ramblewood
High school
J. P. Taravella
Standard status
Active
APN
484128012340
Size
4,000 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
CORAL SPRINGS UNIVERSITY DRIVE SUB ADD NO 1 62-3 B LOT 17 TOGETHER WITH W1/2 OF VAC ALLEY LYING E OF & ABUTTING SAID LOT BLK M
Tax Annual Amount
23267
Legal Description
CORAL SPRINGS UNIVERSITY DRIVE SUB ADD NO 1 62-3 B LOT 17 TOGETHER WITH W1/2 OF VAC ALLEY LYING E OF & ABUTTING SAID LOT BLK M
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
central A/C
in-unit washers and dryers
huge backyard
Building Details
Year built
1990
Floors in Building
2
Number of units
4
Flooring type
Laminate, Tile - Ceramic
Building materials
Concrete
Roof type
Tile
Listing Agency:
RPM LUXE REALTY
(561) 929-7317
Listed By:
Rodger P Morelli · License #3059403
(561) 544-3810
Added: Sep 24
Last Checked: Sep 26 at 9:06AM
MLS# B26080304
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 Coral Springs multifamily property contains four residences, each with three bedrooms and two bathrooms. The units are approximately 1,000 square feet apiece, for 4,000 square feet total. Central air conditioning and in-unit laundry serve each residence. The property also has eight parking spaces and a backyard on a 0.31-acre lot.
Coral Square Mall, restaurants, and shopping are within walking distance. The building was constructed in 1990, and its 40-year recertification has been completed. Multifamily zoning and the absence of an HOA are additional property details.
Coral Square Mall, restaurants, and shopping are within walking distance. The building was constructed in 1990, and its 40-year recertification has been completed. Multifamily zoning and the absence of an HOA are additional property details.
Key Highlights
- Four residences, each with 3 bedrooms and 2 bathrooms
- Approximately 1,000 SF per unit; 4,000 SF total
- 0.31‑acre lot with 8 parking spaces and a backyard
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
$69,155
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
4.61%
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%
$1,383,100
$1.4M
Cap Rate 7%
$987,929
$987.9K
Cap Rate 9%
$768,389
$768.4K
Market Conditions
NOI Build-Up for 4,000 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
$103.2K $25.80/SF
− Vacancy
−$4.4K −$1.10/SF
EGI
$98.8K $24.70/SF
− OpEx
−$29.6K −$7.41/SF
NOI
$69.2K $17.29/SF
Area
Coral Springs, FL
Vacancy
4.27%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,383,100
Cap Rate 7%
$987,929
Cap Rate 9%
$768,389
Alternative Uses
Best Use
Multifamily LT 5
$987.9K
$864.4K – $1.15M
NOI $69,155 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$911.2K
$797.3K – $1.06M
NOI $63,786 @ 7.0% cap · market cap 4.26%
Theoretical Best
Specialty Retail
$6.82M
$5.97M – $7.96M
NOI $477,481 @ 7.0% cap · market cap 31.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,549
Businesses Nearby
Explore this area
Business Placement
Demographics for 33071, FL
40,026
Population
14,184
Households
2.8
Avg Household Size
40
Median Age
43%
College-Educated
95%
High-School Grad
7.5 sq mi
ZIP Area
5,337
Density / Sq Mi
$100,279
Median Household Income
$50,090
Median Earnings
$2,092
Median Rent
$537,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Each residence offers three bedrooms, two bathrooms, central air conditioning, and an in-unit washer and dryer.
Where is this quadplex located?
The property is located at 1831-1837 NW 94th Avenue Coral Springs, FL.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Four residences, each with 3 bedrooms and 2 bathrooms; Approximately 1,000 SF per unit; 4,000 SF total; 0.31‑acre lot with 8 parking spaces and a backyard
