, for Sale & Rent

for Sale & Rent

Price $6,500,000.00

• Lot size 47296
• Year Build 1975
• Waterfront
• Zip 33065
• Style
• Parking Description
• Pool Yes
• Status Active

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.

CORAL SPRINGS LAKES 68-12 B LOTS 14,15,16 & 17 BLK F

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.

City:Coral Springs,Zoning:RM-20,List A O R:A-Miami Association of REALTORS,Stories:2,Latitude:26.2743427,List Price:6500000,Listing Id:A11599836,Longitude:-80.2613234,Mls Status:Active,Year Built:1975,Postal Code:33065,Coordinates:1:26.2743427,Photos Count:15,Building Name:Jacob Apartments,Business Type:1:Residential-Multi-Family,Days On Market:2,Listing Terms:1:Conventional/Refinance,Lot Size Units:Square Feet,M I A M I R E_ Area:3625,On Market Date:2024-06-03,Parcel Number:484116061200,Parking Total:38,Property Type:Commercial Sale,Stories Total:2,Public Remarks: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.,County Or Parish:Broward County,List Office Name:CBRE, Inc.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:2883,Property Sub Type:Income/MultiFamily,State Or Province:FL,Tax Annual Amount:69851,Unparsed Address:10120 NW 36th St, Coral Springs FL 33065,Listing Agreement:Exclusive Agency,Building Area Total:23622,Building Area Units:Square Feet,Lot Size Square Feet:47296,Number Of Buildings:2,Original List Price:6500000,Public Survey Range:48,I D X Participation Y N:1,Syndication Remarks: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.,Listing Contract Date:2024-06-03,Originating System I D:miamire,Public Survey Section:16,Street Number Numeric:10120,Tax Legal Description:CORAL SPRINGS LAKES 68-12 B LOTS 14,15,16 & 17 BLK F,Public Survey Township:48,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Internet Remarks:Family Oriented Units Central Location Strong Income Upside Excellent Demographics,Contract Status Change Date:2024-06-03,Number Of Units In Community:2,M I A M I R E_ Ok To Advertise List:No,Transaction Broker Compensation:1.5%,Internet Entire Listing Display Y N:1,M I A M I R E_ Compensation Disclaimer:BBC: 1.5%, The offer of compensation is made only to participants of the MLS where the listing is filed.,Transaction Broker Compensation Type:%,