Renovated 5-Unit Apartment
For Sale
$1,195,000
4115 Riverside Drive 1-5, Coral Springs, FL 33065
Renovated multifamily property with a five-unit layout, established occupancy, and a mix of short- and longer-term leases.
Property Size3,852 SF
Price / SF$310.23
Days on Market114
Property Features for 4115 Riverside Drive 1-5
General Information
Standard status
Active
Size
3,852 SF
Property subtype
Quadruplex
Zoning
zoned for AirBnB per the city of Coral Springs
Site & Location
Neighborhood
The Meadows
Units
Unit Mix
2 x 2/1, 3 x 1/1
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$21,644
Building Details
Building Size
3,852 SF
Year Built
1969
Tenancy
Multi
Listing Agency:
Lang Realty/ BR
Listed By:
Paulo Schneider · License #3251431
(954) 857-1282
Source:
Pamandtoni
Added: Jul 7
Changed: Oct 25
Last Checked: Oct 27 at 1:45AM
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 Lang Realty/ BR
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Investment Insights
Based on property information with market context.
This 3,852-square-foot apartment property was built in 1969 and contains five renovated units. The configuration includes two two-bedroom, one-bath apartments and three one-bedroom, one-bath apartments, providing a defined mix within the building.
The property is reported as 100% leased, with both month-to-month and annual lease arrangements in place. It is identified as zoned for Airbnb by the city of Coral Springs. The reported capitalization rate is over 5.8%, and community laundry contributes to the property’s gross income.
The property is reported as 100% leased, with both month-to-month and annual lease arrangements in place. It is identified as zoned for Airbnb by the city of Coral Springs. The reported capitalization rate is over 5.8%, and community laundry contributes to the property’s gross income.
Key Highlights
- Five‑unit apartment building with two 2‑bedroom/1‑bath units and three 1‑bedroom/1‑bath units
- All units have been renovated
- 3,852 SF building constructed in 1969
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,426
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,174
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated multifamily property with a five-unit layout, established occupancy, and a mix of short- and longer-term leases.
Where is this apartment building located?
The property is located at 4115 Riverside Drive 1-5 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: Five‑unit apartment building with two 2‑bedroom/1‑bath units and three 1‑bedroom/1‑bath units; All units have been renovated; 3,852 SF building constructed in 1969
