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    8704 38 Dr Coral Springs, FL 33065

    Sponsored
    For Sale
    $1,650,000

    Five-unit apartment building, high ROI.

    Property size:
    4,041 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional five-unit apartment building, located at 8704 NW 38th Dr in Coral Springs, Florida, presents a compelling investment opportunity. Boasting a desirable location in a quiet neighborhood, this single-story property, built in 1978, offers 4,041 square feet of living space and features five two-bedroom, one-bathroom units. The property enjoys 100% occupancy as of March 1st, 2024, generating a strong net operating income (NOI) of $76,794 and a 4.65% capitalization rate. Ample parking is available with eight designated spaces, supplemented by street parking. Recent renovations include high-impact windows and stainless steel appliances in each unit. Utilities are conveniently managed, with sewer, trash removal, and water included in the rent. Heating and cooling are provided via central electric systems. The property sits on a lot with APN 0640 and is zoned RM-20. This well-maintained building offers a solid return on investment and is an ideal addition to any portfolio. The asking price is $1,650,000. This is a turnkey operation ready for immediate income generation. Don't miss this chance to acquire a profitable multifamily property in a prime Coral Springs location.

    Property Features for 8704 38 Dr

    General Information

    Property type
    Multifamily properties
    Square Feet
    4,041 SF

    Building Details

    Year Built
    1978
    Stories
    1
    Units
    5

    HighLights

    • Five‑unit apartment building in desirable Coral Springs location.
    • 8 parking spaces, supplemented by street parking.
    • Rent includes sewer, trash removal, and water.
    • Central electric heating and cooling.
    • Recent renovations include high‑impact windows and stainless steel appliances.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Coral Springs
    County
    Broward
    State
    Florida
    Longitude
    -80.2430007
    Latitude
    26.2750276

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit apartment building, high ROI.
    Where is this multifamily property located?
    The property is located at 8704 38 Dr Coral Springs, FL.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: Five-unit apartment building in desirable Coral Springs location.; 8 parking spaces, supplemented by street parking.; Rent includes sewer, trash removal, and water.
    Request Owner's contact information
    8704 38 Dr Coral Springs, FL 33065
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8704 38 Dr Coral Springs, FL 33065
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