4291 114Th Ter, Coral Springs, FL 33065

Property Details for 4291 114Th Ter

Year built

1989

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