Coral Springs
Florida
United States
33065

MLS#: A11599876

$9,500,000 USD

Listed By CBRE, Inc.

The Commercial for Sale located at Coral Springs Florida 33065 with Total Parking is currently for Sale, Coral Springs Florida 33065 is listed for $9,500,000. If the property located at Coral Springs Florida 33065 isn't what you're looking for, search Florida Real Estate to see other Commercial for Sale in Coral Springs .

The details

Property features

Date Updated: Jun 5, 2024

Key features

Total Parking

Construction details

Year built: 1986

Description

Fairway Views is an excellent 5-story value-add investment opportunity featuring - 30 oversized two-bedroom apartment units with large balconies averaging 1,496 square feet in gross area (including balconies) and 1,260 square feet in net A/C area. The property is located in the heart of Coral Springs, surrounded by affluent demographics and highly rated public schools. Built in 1986, the property is 100% occupied with effective rents of $2,229/unit – $1.77 PSF. Market rents are $2,535/unit ($2.01 PSF). Given the large unit sizes, there is a potential to do a light value-add to increase the rents to $2,735 per unit ($2.17 PSF). The elimination of loss-to-lease and value-add upside provides up to $182,000 in additional income.

Location

Coral Springs

Florida

United States

All real estate advertised herein is subject to the Federal Fair Housing Act, which makes it illegal to advertise "any preference, limitation, or discrimination because of race, color, religion, sex, handicap, familial status, or national origin, or intention to make any such preference, limitation, or discrimination." We will not knowingly accept any advertising for real estate which is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.