Updated 4-Plex with In-Unit
For Sale
$1,239,000
3775 NW 116th Terrace 1-4, Coral Springs, FL 33065
Four 3-bedroom units with updated interiors and in-unit washers and dryers, near a city park.
Property Size3,819 SF
Price / SF$324.43
Days on Market116
Property Features for 3775 NW 116th Terrace 1-4
General Information
Standard status
Active
Size
3,819 SF
Property subtype
Quadruplex
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$23,368
Building Details
Building Size
3,819 SF
Year Built
1975
Tenancy
Multi
Listing Agency:
Fidelity Real Estate Group LLC
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Source:
Pamandtoni
Added: Jun 10
Changed: Sep 25
Last Checked: Oct 3 at 12:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fidelity Real Estate Group LLC
Investment Insights
Based on property information with market context.
This 4-plex offers four large 3-bedroom units with updated interiors designed for long-term resident comfort. Improvements noted include newer kitchens, renovated bathrooms, and laminate flooring throughout. Select units feature granite counters and stainless-steel appliances. Each unit includes in-unit washers and dryers, and the property provides plenty of parking.
Located at 3775 NW 116th Ter (units 1-4) in Coral Springs, this rental property is positioned in the heart of West Coral Springs. The public remarks also note proximity to a city park, with views associated with the location.
The property is presented as an income-producing multifamily asset, grossing $10,250 per month, with “room to grow” stated in the offering materials. Reported annual expenses include taxes of $23,368, water of $4,560, estimated insurance of $7,500, and estimated lawn expenses of $900, with trash included in taxes. Total estimated expenses are listed at $36,328, for an “almost a 7 cap” per the provided remarks. This configuration may appeal to buyers seeking a renovated 4-plex with in-unit laundry and straightforward operating expense estimates included in the listing information.
Located at 3775 NW 116th Ter (units 1-4) in Coral Springs, this rental property is positioned in the heart of West Coral Springs. The public remarks also note proximity to a city park, with views associated with the location.
The property is presented as an income-producing multifamily asset, grossing $10,250 per month, with “room to grow” stated in the offering materials. Reported annual expenses include taxes of $23,368, water of $4,560, estimated insurance of $7,500, and estimated lawn expenses of $900, with trash included in taxes. Total estimated expenses are listed at $36,328, for an “almost a 7 cap” per the provided remarks. This configuration may appeal to buyers seeking a renovated 4-plex with in-unit laundry and straightforward operating expense estimates included in the listing information.
Key Highlights
- 1975‑built 4‑plex in West Coral Springs with four large 3‑bedroom units
- Gross income of $10,250 per month, with room to grow per the seller’s remarks
- Updated interiors with newer kitchens, renovated bathrooms, and laminate flooring
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
$66,026
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
5.33%
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%
$1,320,520
$1.3M
Cap Rate 7%
$943,229
$943.2K
Cap Rate 9%
$733,622
$733.6K
Market Conditions
NOI Build-Up for 3,819 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
$98.5K $25.80/SF
− Vacancy
−$4.2K −$1.10/SF
EGI
$94.3K $24.70/SF
− OpEx
−$28.3K −$7.41/SF
NOI
$66.0K $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%
$1,320,520
Cap Rate 7%
$943,229
Cap Rate 9%
$733,622
Alternative Uses
Best Use
Multifamily LT 5
$943.2K
$825.3K – $1.10M
NOI $66,026 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$870.0K
$761.3K – $1.02M
NOI $60,900 @ 7.0% cap · market cap 4.92%
Theoretical Best
Specialty Retail
$6.51M
$5.70M – $7.60M
NOI $455,875 @ 7.0% cap · market cap 36.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,096
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
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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 - Four 3-bedroom units with updated interiors and in-unit washers and dryers, near a city park.
Where is this quadplex located?
The property is located at 3775 NW 116th Terrace 1-4 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: 1975‑built 4‑plex in West Coral Springs with four large 3‑bedroom units; Gross income of $10,250 per month, with room to grow per the seller’s remarks; Updated interiors with newer kitchens, renovated bathrooms, and laminate flooring
