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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.PROPERTY FEATURES
Parking Total: 38
Property Sub-Type Additional : MultiFamily
Zoning Description : RM-20
PROPERTY DETAILS
Street Address:
City: Coral Springs
State: Florida
Postal Code: 33065
County: Broward County
MLS Number: A11599836
Year Built: 1975
Courtesy of CBRE, Inc.
City: Coral Springs
State: Florida
Postal Code: 33065
County: Broward County
MLS Number: A11599836
Year Built: 1975
Courtesy of CBRE, Inc.
Courtesy of Fidelity Real Estate Group LLC