3780 110Th Ave, Coral Springs, FL 33065

Property Details for 3780 110Th Ave

Year built

1973

Property type

Commercial real estate

APN

4841-17-04-2340

Description

This exceptional investment opportunity presents a beautifully updated two-unit duplex located in desirable West Coral Springs, Florida. The property boasts a total of 2,397 square feet, with each unit offering a unique appeal. One unit features a fully renovated three-bedroom, two-bathroom layout, complete with a modern kitchen, updated bathrooms, and new flooring. The second unit is a spacious two-bedroom, one-bathroom apartment, including a newer refrigerator and washer/dryer. The building itself has undergone significant improvements, including a newer roof, impact-resistant windows, and updated plumbing (with warranty). The property sits on a lot with eight parking spaces and enjoys a 100% occupancy rate, generating a current Net Operating Income (NOI) of $40,779, and a pro-forma NOI of $44,979. The property's strong financial performance is further highlighted by a 5.26% cap rate and a pro-forma cap rate of 5.80%. Built in 1973 and extensively renovated in 2022, this single-story building is zoned RD-8 - TWO FAMILY DWELLING, ensuring its continued viability as a rental property. Annual gross income is $57,600, with total annual expenses of $16,821, including property taxes ($9,581), landscaping ($1,800), estimated insurance ($4,000), and water ($1,440). This turnkey investment is priced at $775,000, or $387,500 per unit, representing a compelling value in the current market. The property's location in Coral Springs, Broward County, Florida (33065), offers easy access to major roadways and amenities. This is a rare opportunity to acquire a high-performing multifamily property with significant upside potential.

Location Insight

City

Coral Springs

County

Broward

State

Florida

Longitude

-80.273015844948

Latitude

26.277461579662