3501 NW 114th Ln new Save Request In-Person Tour Request Virtual Tour
Coral Springs,FL 33065
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,464 sqft
Price per Sqft $336
Subdivision Castlewood 71-37 B
MLS Listing ID F10496121
Style Fourplex
Year Built 1988
Annual Tax Amount $25,094
Tax Year 2023
Property Sub-Type Fourplex
Property 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 Section 8 approved, offering reliable income and low vacancy risk. The current Section 8 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, 5–10 minutes to Coral Square Mall, 15 minutes to Sawgrass Mills, and just 20–25 minutes to FLL AIRPORT. 2 MINUTE DRIVE TO SAWGRASS EXPRESSWAY.
Location
State FL
County Broward County
Area North Broward 441 To Everglades (3611-3642)
Zoning RM-15
Interior
Heating Central Heat
Cooling Ceiling Fans,Central Cooling
Flooring Tile Floors
Exterior
Water Access N
Roof Type Curved/S-Tile Roof
Building
Lot Description 1/4 To Less Than 1/2 Acre Lot
Story 2.0000
Foundation Cbs Construction
Sewer Municipal Sewer
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional