Fourplex with Private
8706 NW 38th Drive Coral Springs, FL 33065
For Sale
Contact for pricing
Pending
Four 3-bedroom units with private 1-car garages and separate electric and water meters in Coral Springs.
Property Size5,679 SF
Days on Market38
Property Features for 8706 NW 38th Drive
General Information
- Standard status
- Pending
- Size
- 5,679 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2003
Listing Agency:
KW Commercial Boca Raton East
Listed By:
Stephen Molinari · License #3530706
Source:
Crexi
Added: Jun 16
Changed: Jul 10
Last Checked: Jul 22 at 6:45AM
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 KW Commercial Boca Raton East
Investment Insights
Based on property information with market context.
This fourplex was built in 2003 and offers four spacious 3-bedroom, 2.5-bathroom residences. Each unit includes a private 1-car garage plus additional on-site parking. The property is designed for straightforward operations, with utilities separately metered for water and electric service for each unit.
Located at 8706 NW 38th Drive in Coral Springs, Florida, the building sits on a spacious lot in a residential submarket within South Florida. The offering is presented as turnkey, emphasizing a modern, well-maintained configuration intended to support everyday tenant use.
For investors and owner-occupants, this unit mix supports flexible occupancy scenarios while maintaining a consistent property type across all four apartments. With separate metering, the setup can help simplify management by allocating water and electric usage at the unit level. The private garages and on-site parking also add practical, tenant-focused convenience for daily living.
Located at 8706 NW 38th Drive in Coral Springs, Florida, the building sits on a spacious lot in a residential submarket within South Florida. The offering is presented as turnkey, emphasizing a modern, well-maintained configuration intended to support everyday tenant use.
For investors and owner-occupants, this unit mix supports flexible occupancy scenarios while maintaining a consistent property type across all four apartments. With separate metering, the setup can help simplify management by allocating water and electric usage at the unit level. The private garages and on-site parking also add practical, tenant-focused convenience for daily living.
Key Highlights
- Fourplex built in 2003 in Coral Springs
- Four spacious 3‑bedroom, 2.5‑bath units
- Each unit includes a private 1‑car garage
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $146.5k | $25.80 |
| − Vacancy | −$6.3k | −$1.10 |
| EGI | $140.3k | $24.70 |
| − OpEx | −$42.1k | −$7.41 |
| NOI | $98.2k | $17.29 |
5,679 SF · lease $25.80/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.40M
$1.23M – $1.64M
NOI $98,183 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,561 @ 7.0% cap · market cap 4.53%
Theoretical Best
Specialty Retail
$9.68M
$8.47M – $11.30M
NOI $677,904 @ 7.0% cap · market cap 33.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four 3-bedroom units with private 1-car garages and separate electric and water meters in Coral Springs.
Where is this quadplex located?
The property is located at 8706 NW 38th Drive Coral Springs, FL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Fourplex built in 2003 in Coral Springs; Four spacious 3‑bedroom, 2.5‑bath units; Each unit includes a private 1‑car garage
