Coral Springs, Florida 33065, United States

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: Jul 17, 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 33065, United States
map image
Courtesy of Periklis Synanidis CBRE, Inc.