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Plaza Apartments 10675-10687 Royal Palm Blvd 7 Unit Apartment Building $2,497,987 ($356,855/Unit) 5.95% Cap Rate Coral Springs, FL 33065
Investment Highlights
- Located West Coral Springs
- Current Rents Below Market
- Large Corner Lot
Executive Summary
Fantastic Find In The Heart Of Coral Springs! This 7-Unit Property Sits On Nearly Half An Acre And Offers A Prime Corner-Lot Location. The Property Consists Of One Spacious 3 Bedroom, 2.5 Bath Townhome, Four 3 Bedroom, 2-Bath Units, And Two - 2 Bedroom, 2-Bath Units. Current Rents Are Well Below Market, Creating Tremendous Upside Potential. Every Unit Includes Washer And Dryer, A Private Patio Or Balcony, And Separate Electric Meter, Helping Maximize Rental Income. Projected Annual Gross Income Is $240,000, With Total Estimated Annual Expenses Of $68,389. Estimated Expenses Include Landscaping Of $4,800, Insurance Of $12,000, Water Of $5,400, And Electric Of $1,560. All Information Is Believed To Be Accurate But Is Not Guaranteed.
Property Facts
| Price | $2,497,987 | Apartment Style | Low-Rise |
| Price Per Unit | $356,855 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.47 AC |
| Cap Rate | 5.95% | Building Size | 10,580 SF |
| Gross Rent Multiplier | 11.51 | Average Occupancy | 86% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1987 |
| Property Subtype | Apartment | Parking Ratio | 1.23/1,000 SF |
| Zoning | RM-20 - Residential Multi-Family | ||
| Price | $2,497,987 |
| Price Per Unit | $356,855 |
| Sale Type | Investment |
| Cap Rate | 5.95% |
| Gross Rent Multiplier | 11.51 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 10,580 SF |
| Average Occupancy | 86% |
| No. Stories | 2 |
| Year Built | 1987 |
| Parking Ratio | 1.23/1,000 SF |
| Zoning | RM-20 - Residential Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
- Walk-In Closets
- Carpet
- Dining Room
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 4 | $2,448 | - |
| 2+2 | 2 | $2,500 | - |
| 3+2.5 | 1 | $3,195 | - |
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Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 48-41-20-01-4270 | Improvements Assessment | $1,820,450 |
| Land Assessment | $143,720 | Total Assessment | $1,964,170 |
Property Taxes
Parcel Number
48-41-20-01-4270
Land Assessment
$143,720
Improvements Assessment
$1,820,450
Total Assessment
$1,964,170
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Contact the Sale Advisor
Plaza Apartments | 10675-10687 Royal Palm Blvd