4291 114Th Ter Coral Springs, FL 33065

Property Details for 4291 114Th Ter

Year built

1989

Property size

6,468 SF

Property type

Commercial real estate

APN

484117020790

Description

This exceptional investment opportunity presents a two-story, five-unit multifamily property located in Coral Springs, Florida, at 4291 NW 114th Terrace, in the 33065 zip code. The property boasts 6,468 square feet on a sizable lot and features four three-bedroom, two-bathroom units and one spacious two-bedroom, two-and-a-half-bathroom townhome. All units include washer/dryer hookups, and the upstairs units offer private balconies with stunning waterfront views. The building is in excellent condition, highlighted by a newer roof (approximately seven years old). Currently operating at 100% occupancy, the property generates a substantial annual gross income of $139,200. Annual expenses total $46,047, encompassing property taxes ($19,847), landscaping ($1,200), insurance ($22,000), and water ($3,000). This results in a strong net operating income (NOI) of $93,153, with a pro-forma NOI of $103,953. The property is zoned RM-15 and includes 11 parking spaces. The asking price is $1,750,000, representing a price per square foot of $270.56 and a price per unit of $350,000. The property's attractive 5.32% cap rate makes it a compelling investment prospect. This waterfront property offers a rare combination of strong cash flow, desirable location, and significant upside potential. The property's superior condition and high occupancy rate ensure a secure and profitable investment. This is a must-see property for discerning investors seeking a high-return, low-risk opportunity.

Location Insight

City

Coral Springs

County

Broward

State

Florida

Longitude

-80.2789535

Latitude

26.2846698