Active
Private Address
$6,500,000
$275.17 per sqft
Active
23,622 sqft
Commercial
Built in 1975
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.
A11599836
MLSⓇ ID
June 3, 2024
Listed
September 17, 2024
Updated
Map
Private Address
Interior Features
Total Stories
2
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
1.09 Acres
Other Property Details
Taxes
$69,851
Tax Frequency
Annually
Days on Market
2
Garage
No
Parking Total
38
View
No
County
Broward County
Pool
No
Zoning
RM-20
Listed by: CBRE, Inc.
Listing Contact: 352-278-7572
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Data last updated 1:03 PM UTC, 9/17/2024.