Renovated 5-Unit Apartment
For Sale
$1,195,000
4115 Riverside Drive, Coral Springs, FL 33065
Residential Income, Coral Springs, FL
Property Size3,852 SF
Lot Size0.25 Acres
Price / SF$310.23
Days on Market233
Property Features for 4115 Riverside Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM-20
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 4, Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 3, Bedroom 3, Bathroom 1
Window features
Blinds
Patio and Porch features
Patio
Subdivision
CORAL SPRINGS SUB NO 1
Elementary school
James S. Hunt
Middle school
Forest Glen
High school
Coral Springs
Directions
From Wiles Rd, go South onto Riverside Dr to the development.
Standard status
Active
APN
484114011370
Size
3,852 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
CORAL SPRINGS SUB NO 1 59-30 B LOT 13 BLK G
Tax Annual Amount
21644
Legal Description
CORAL SPRINGS SUB NO 1 59-30 B LOT 13 BLK G
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
community laundry
Building Details
Year built
1969
Floors in Building
1
Number of units
4
Flooring type
Tile - Ceramic, Vinyl
Building materials
Block, Concrete, Stucco
Roof type
Barrel
Listing Agency:
Lang Realty/ BR
(561) 998-0100
Listed By:
Paulo Schneider · License #3251431
(954) 857-1282
Added: Jan 8
Changed: Aug 24
Last Checked: Aug 29 at 7:06PM
MLS# R11152708
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 5-unit apartment building in Coral Springs contains two 2-bedroom/1-bath apartments and three 1-bedroom/1-bath apartments. All units have been renovated, and the property is fully leased with both annual and month-to-month lease arrangements. The 3,852-square-foot building was constructed in 1969 on a 0.25-acre parcel and features block, concrete, and stucco construction, vinyl and ceramic tile flooring, central cooling, and electric heating. A patio, barrel roof, public water, and public sewer are also part of the property improvements.
The property is located at 4115 Riverside Drive in Coral Springs, Florida. RM-20 zoning is identified, and the property information describes city zoning as allowing Airbnb use. The building also includes community laundry, which is referenced as part of the property’s operating income.
The property is located at 4115 Riverside Drive in Coral Springs, Florida. RM-20 zoning is identified, and the property information describes city zoning as allowing Airbnb use. The building also includes community laundry, which is referenced as part of the property’s operating income.
Key Highlights
- 5‑unit apartment building with 3,852 square feet of building area
- Unit mix includes 2 units with 2 bedrooms/1 bath and 3 units with 1 bedroom/1 bath
- All units have been renovated
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
$61,426
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
5.14%
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%
$1,228,520
$1.2M
Cap Rate 7%
$877,514
$877.5K
Cap Rate 9%
$682,511
$682.5K
Market Conditions
NOI Build-Up for 3,852 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
$116.9K $30.36/SF
− Vacancy
−$5.3K −$1.37/SF
EGI
$111.7K $28.99/SF
− OpEx
−$50.3K −$13.05/SF
NOI
$61.4K $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%
$1,228,520
Cap Rate 7%
$877,514
Cap Rate 9%
$682,511
Alternative Uses
Best Use
Apartment 5plus
$877.5K
$767.8K – $1.02M
NOI $61,426 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.57M
$5.75M – $7.66M
NOI $459,814 @ 7.0% cap · market cap 38.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,174
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 - Five renovated apartments are fully leased under a combination of annual and month-to-month agreements.
Where is this apartment building located?
The property is located at 4115 Riverside Drive Coral Springs, FL.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 5‑unit apartment building with 3,852 square feet of building area; Unit mix includes 2 units with 2 bedrooms/1 bath and 3 units with 1 bedroom/1 bath; All units have been renovated
