3501 NW 114th Lane
Coral Springs, FL 33065
4464 sqft | #FX-10496121
Description
Rare opportunity to own a 4-unit property in the Heart of Coral Springs. Each spacious unit features 3 bedrooms and 2 bathrooms, IN-UNIT laundry, and ample parking. There is no HOA, and The property is Housing voucher approved, offering reliable income and low vacancy risk. The current Housing voucher rent is $2,700/month per unit, generating a projected gross income of $129,600/year. With estimated annual expenses of $37,000, the property delivers a solid 6.17% cap rate. Market rents in the area range from $3,000$3,100/month, allowing for additional upside and a potential cap rate of 7.5%+ with rent adjustments. Prime location: 1 mile to Costco, 510 minutes to Coral Square Mall, 15 minutes to Sawgrass Mills, and just 2025 minutes to FLL AIRPORT. 2 MINUTE DRIVE TO SAWGRASS EXPRESSWAY.
Property Details
- Utility FeaturesCable Connected, Public Sewer
- CoolingCeiling Fan, Central
- SubdivisionCastlewood 71-37 B
- Lot Features1/4 to 1/2 Acre
- Lot Description1/4 to 1/2 Acre
- Property TypeMulti-Family
- MLS #FX-10496121
- MLS #FX-10496121
- Original List Price$1,499,999
- Property SubtypeQuadruplex
- CountyBroward
- Taxes Annual$25,094
- Cost1499999
- ZoningRM-15
- Square Feet4464
- Year Built1988
- RoofTile
- Stories2
Location
Legal
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Last Updated: . Source: BMLS
Listing Courtesy
Listing Agent: Yairo Rincon (#276651007)
Listing Office: Lifestyle International Realty (#LSYL01)
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