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3331 Coral Hills Dr Coral Springs, FL 33065
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Key Details
Sold Price $8,650,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 42,425 sqft
Price per Sqft $203
MLS Listing ID A11736676
Sold Date 04/16/25
Construction Status Resale
HOA Y/N No
Year Built 1973
Annual Tax Amount $154,053
Contingent Pending Inspections
Lot Size 2.980 Acres
Property Sub-Type Multi Family
Property Description
ATTENTION DEVELOPERS and INVESTORS! Here is your chance to purchase 53 units that are 100% rented, and possibly develop 3 ACRES in the middle of Coral Springs' Downtown District in the future. 55% of tenants have lived here for over 5 years. Located near intersection of University Dr. and Sample Rd. The area is seeing a great redeveloping with Cornerstone Plaza, a mixed-use property including a full service hotel, luxury apartments, restaurants, and retail space. And coming soon across from Cornerstone Plaza will be City Village.
The property consists of 3 one acre parcels with 5 one story buildings and parking. Zoned DT-MU (Downtown Mixed-Use). The CAP rate is 5.1% with the current rates. Market rental rates will bring up the CAP rate to 6.9%. Current financials available upon request.
Location
State FL
County Broward
Area 3626
Exterior
Waterfront Description Canal Front
Roof Type Tile
Private Pool Yes
Building
Story 1
Level or Stories One
Structure Type Block
Construction Status Resale
Others
Tax ID 484121010112
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash
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Bought with ONE Commercial LLC