Coral Springs
Florida
United States
33065

MLS#: A11599836

$6,500,000 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 $6,500,000. 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: 1975

Virtual Tour

Description

Jacob Apartments is an excellent boutique value-add investment opportunity featuring - 20 oversized apartment units consisting of 12 two- and 8 three-bedroom units averaging 1,181 square feet. The property is located in the heart of Coral Springs, surrounded by affluent demographics and highly rated public schools.
Built in 1975, the property is 100% occupied with effective rents of $2,200 per unit - $1.86 PSF. Market
rents are $2,397 per unit - $2.03 PSF. 5 of the 20 units have been renovated with market rents of
$2,510 per unit - $2.13 PSF. A new buyer can either move all units to market rents which provide
$47,000 in loss to lease upside, and/or look to renovate the 15 non renovated units and get $74,000
in additional value add upside.

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.