UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,507 sqft
Price per Sqft $315
MLS Listing ID A11971882
HOA Y/N No
Year Built 1978
Annual Tax Amount $63,325
Lot Size 0.790 Acres
Property Sub-Type Multi Family
Property Description
Coral Flats features a majority 2BR mix, impact windows, a 2015 roof, central A/C, and hard flooring throughout. Six units contain in-unit washers and dryers, supported by an onsite laundry room, and residents have access to a community swimming pool.
Located in central Coral Springs, the property benefits from strong demographics and top schools. Within a three-mile radius, the average household income of $98,000 supports market rents near $2,450, and surrounding single-family and condo housing reinforces stable demand.
With current rents roughly 20% below market, the property offers a clear value-add opportunity. A light $10,000 per-unit renovation could support post-upgrade rents of $1,700 for 1BRs and $2,100 for 2BRs, or $1,930 on average, representing about $33,000 in upside.
The asset is three miles from the Sawgrass Expressway, providing access to 60M+ SF of nearby office and major employment hubs including Sunrise, Plantation, Cypress Creek, Fort Lauderdale, and Boca Raton—all within 30 minutes. CoStar reports submarket rents of $1,931 for 1BRs and $2,340 for 2BRs, underscoring the rent growth potential.
Location
State FL
County Broward
Area 3622
Exterior
Roof Type Barrel,Tile
Total Parking Spaces 24
Private Pool Yes
Building
Story 1
Level or Stories One
Others
Tax ID 484115050210
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11971882
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