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Commercial: MLS #A11599836 Coral Springs, FL $ 6,500,000
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Commercial: MLS #A11599836
$ 6,500,000
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Commercial: MLS #A11599836

Coral Springs, FL, 33065
$ 6,500,000
Bedrooms-- Baths-- Sq 23,622

Monthly Estimate*

$ 38,929

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Commercial Property for sale in Coral Springs, FL

for $6,500,000. This 23,622 square foot building was built in 1975 on a lot size of 1.08577.

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.

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Commercial Active

Price

$ 6,500,000

Property Type

Commercial

Taxes

$ 69,851

Style

MultiFamily

Lot Size

1.08577

Year Built

1975

Town/City

Coral Springs

County/Region

Broward

MLS | Web ID

A11599836
Features
Exterior
Total Parking 38.0
Lot Size Area 47296.0
Number of Buildings 2
Spa N
Building Area Total 23622.0
Covered Spaces 0.0
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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General
Year Built 1975
Stories 2
Levels Two
Property SubType MultiFamily
Building Name Jacob Apartments
County Broward
New Construction N
Property Type CommercialSale
HOA N
Attached Garage N
Garage Y/N N
Status Active
City Coral Springs
Senior Community Y/N N
Zoning Description RM-20
MLS Area 3625
Lot Size Units SquareFeet
Lot Size Square Feet 47296.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Electric On Property Y/N N
Terms Cash Conventional
Property Attached Y/N N
Land Lease Y/N N
Tax Annual Amount 69851.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11599836
Structure Type Apartment MultiFamily
Standard Status Active
Occupancy Type Tenant
Property Sub Type Additional MultiFamily
Legal Description CORAL SPRINGS LAKES 68-12 B LOTS 14 15 16 & 17 BLK F
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Interior
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Total Baths 0
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Internal Only
Street Number 1 10120
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* Excluded Features
List By
Cbre, Inc.

Broker

perry.synanidis@cbre.com

Email

Affordability Calculator

$44,750
Per Month
87%
13%
0%
Monthly Principal & Interest
$38,929
Monthly Property Taxes
$5,821
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 5.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
292769 Elementary School
292996 Middle School
Unknown High School High School
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Pricing History
DatePricePrice ChangeDescription
6/4/2024$6,500,000 Listed Price

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