Coral Springs, FL 33065
FOR SALE - Active
$6,500,000
Overview
- Status: Active
- Bed(s) No info
- Bath(s)
- Half Bath(s) 0
- Parking No info
- Size: 23,622 ft2/2,194.55 m2
- Price Per: $275.17 ft2/$2,961.88 m2
- Type: Commercial/Investment
- Built: 1975
- HOA: No info
- MLS Number: A11599836
- View No info
- On Site: 171 days
- Updated: Listing Refreshed: 171 Days Ago
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.
Price History
| Date | Event | Price | Change Rate | Price Per |
|---|---|---|---|---|
| 06/04/2024 | Listed | $6,500,000.00 | $275.17 ft2/$2,961.88 m2 |
Contact Information
Tracey Schmitt
Real Estate Advisor
Office: (305) 407-1657
Specialties:
Luxury Oceanfront Communities, Waterfront Single Family Homes
Memberships:
Master Brokers, Luxury Real Estate Marketing, Million Dollar Guild
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