, for Sale & Rent

for Sale & Rent

Price $2,800,000.00

• Lot size 34415
• Year Build 1972
• Waterfront
• Zip 33065
• Style
• Parking Description
• Pool Yes
• Status Active

Description

Coral Flats is a 14 unit multifamily investment opportunity located at 8430 NW 40th Street in Coral Springs, Florida. Built in 1972 with durable concrete construction, the property sits on 0.79 acres and consists of 6 one bedroom units and 8 two bedroom/one bath units, averaging 679 square feet. Coral Flats is currently 100% occupied with average in place rents of $1,734 per unit, reflecting strong intrinsic demand and stable tenancy. Ideally positioned in the heart of Coral Springs, the property is surrounded by affluent demographics and some of the highest rated public schools in Broward County. Within a three-mile radius, the average household income is $98,000, which supports market rents of approximately $2,450 per month using a standard 30% rent to income ratio. The surrounding neighborhood is predominantly composed of condominiums and single family homes, enhancing the property’s appeal to quality renters seeking stability and strong school zones. With in-place rents below market, Coral Flats offers a clear value-add opportunity. A light interior renovation program—estimated at $10,000 per unit—would allow a new owner to modernize finishes and capture approximately $33,000 of rental upside. Post renovation rents are projected at $1,700 for one bedroom units and $2,100 for two bedroom units, or an average of $1,930 per unit. Six units are already equipped with in unit washers and dryers, providing an additional competitive advantage.

CORAL SPRINGS VILLAGE GREEN ADD NO 1 65-21 B LOT 5 & 6 BLK Y

Coral Flats is a 14 unit multifamily investment opportunity located at 8430 NW 40th Street in Coral Springs, Florida. Built in 1972 with durable concrete construction, the property sits on 0.79 acres and consists of 6 one bedroom units and 8 two bedroom/one bath units, averaging 679 square feet. Coral Flats is currently 100% occupied with average in place rents of $1,734 per unit, reflecting strong intrinsic demand and stable tenancy. Ideally positioned in the heart of Coral Springs, the property is surrounded by affluent demographics and some of the highest rated public schools in Broward County. Within a three-mile radius, the average household income is $98,000, which supports market rents of approximately $2,450 per month using a standard 30% rent to income ratio. The surrounding neighborhood is predominantly composed of condominiums and single family homes, enhancing the property’s appeal to quality renters seeking stability and strong school zones. With in-place rents below market, Coral Flats offers a clear value-add opportunity. A light interior renovation program—estimated at $10,000 per unit—would allow a new owner to modernize finishes and capture approximately $33,000 of rental upside. Post renovation rents are projected at $1,700 for one bedroom units and $2,100 for two bedroom units, or an average of $1,930 per unit. Six units are already equipped with in unit washers and dryers, providing an additional competitive advantage.

City:Coral Springs,Zoning:RM-20,List A O R:A-Miami Association of REALTORS,Stories:1,Latitude:26.2793267,List Price:2800000,Listing Id:A12037111,Longitude:-80.2385828,Mls Status:Active,Year Built:1972,Postal Code:33065,Photos Count:22,Business Type:1:Residential-Multi-Family,Listing Terms:1:Conventional/Refinance,Lot Size Units:Square Feet,M I A M I R E_ Area:3622,On Market Date:2026-06-15,Parcel Number:484115050210,Parking Total:24,Property Type:Commercial Sale,Stories Total:1,Public Remarks:Coral Flats is a 14 unit multifamily investment opportunity located at 8430 NW 40th Street in Coral Springs, Florida. Built in 1972 with durable concrete construction, the property sits on 0.79 acres and consists of 6 one bedroom units and 8 two bedroom/one bath units, averaging 679 square feet. Coral Flats is currently 100% occupied with average in place rents of $1,734 per unit, reflecting strong intrinsic demand and stable tenancy. Ideally positioned in the heart of Coral Springs, the property is surrounded by affluent demographics and some of the highest rated public schools in Broward County. Within a three-mile radius, the average household income is $98,000, which supports market rents of approximately $2,450 per month using a standard 30% rent to income ratio. The surrounding neighborhood is predominantly composed of condominiums and single family homes, enhancing the property’s appeal to quality renters seeking stability and strong school zones. With in-place rents below market, Coral Flats offers a clear value-add opportunity. A light interior renovation program—estimated at $10,000 per unit—would allow a new owner to modernize finishes and capture approximately $33,000 of rental upside. Post renovation rents are projected at $1,700 for one bedroom units and $2,100 for two bedroom units, or an average of $1,930 per unit. Six units are already equipped with in unit washers and dryers, providing an additional competitive advantage.,County Or Parish:Broward County,Expiration Date:2026-10-01,List Office Name:CBRE, Inc.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:2968,Property Sub Type:Income/MultiFamily,State Or Province:FL,Tax Annual Amount:63325,Listing Agreement:Exclusive Agency,Building Area Total:9507,Building Area Units:Square Feet,Leasable Area Units:Square Feet,Lot Size Square Feet:34415,M I A M I R E_ Flood Zone:X,M I A M I R E_ Num Floors:1,Number Of Buildings:1,Original List Price:2800000,Public Survey Range:48,I D X Participation Y N:1,M I A M I R E_ N A R Rules Y N:1,Syndication Remarks:Coral Flats is a 14 unit multifamily investment opportunity located at 8430 NW 40th Street in Coral Springs, Florida. Built in 1972 with durable concrete construction, the property sits on 0.79 acres and consists of 6 one bedroom units and 8 two bedroom/one bath units, averaging 679 square feet. Coral Flats is currently 100% occupied with average in place rents of $1,734 per unit, reflecting strong intrinsic demand and stable tenancy. Ideally positioned in the heart of Coral Springs, the property is surrounded by affluent demographics and some of the highest rated public schools in Broward County. Within a three-mile radius, the average household income is $98,000, which supports market rents of approximately $2,450 per month using a standard 30% rent to income ratio. The surrounding neighborhood is predominantly composed of condominiums and single family homes, enhancing the property’s appeal to quality renters seeking stability and strong school zones. With in-place rents below market, Coral Flats offers a clear value-add opportunity. A light interior renovation program—estimated at $10,000 per unit—would allow a new owner to modernize finishes and capture approximately $33,000 of rental upside. Post renovation rents are projected at $1,700 for one bedroom units and $2,100 for two bedroom units, or an average of $1,930 per unit. Six units are already equipped with in unit washers and dryers, providing an additional competitive advantage.,Listing Contract Date:2026-06-15,Originating System I D:miamire,Public Survey Section:15,Tax Legal Description:CORAL SPRINGS VILLAGE GREEN ADD NO 1 65-21 B LOT 5 & 6 BLK Y,M I A M I R E_ Current Price:2800000,Public Survey Township:48,Originating System Name:Miami Association of REALTORS®,M I A M I R E_ Internet Remarks:• PRIMARILY TWO-BEDROOM UNITS • STRONG INCOME UPSIDE THROUGH VALUE-ADD • ONSITE AMENITIES INCLUDING POOL, STORAGE ROOM AND LAUNDRY FACILITY,M I A M I R E_ Parcel Number M L X:0210,M I A M I R E_ Street View Param:1$26.27922$-80.238535$255.53$13.33$1.00$aOL31AOPNLdy-rWJOOalTQ,Contract Status Change Date:2026-06-15,Number Of Units In Community:14,M I A M I R E_ Ok To Advertise List:No,M I A M I R E_ Subdivision Number:5,M I A M I R E_ Agent Alternate Phone:352-278-7572,Internet Entire Listing Display Y N:1,