Building Description
Executive Summary
Fantastic Find In The Heart Of Coral Springs! This Well-Maintained 6-Unit Multifamily Property Sits On An Oversized Corner Lot Spanning 14,866 Sq Ft And Offers An Excellent Unit Mix Consisting Of Two 3-Bedroom / 2-Bath Units, Two 2-Bedroom / 2-Bath Units, And Two 1-Bedroom / 1 and 1/2-Bath Units. Most Units Have Been Tastefully Updated Over The Last Few Years With Modern Kitchens And Updated Flooring, Enhancing Both Appeal And Long-Term Value. The Building Features A 2007 Roof, Hurricane Impact Windows And Doors, And Central Air Conditioning Throughout. Rents Are Currently Below Market, Presenting A Strong Upside Opportunity For Increased Cash Flow. The Property Generates A Current Gross Income Of $127,800, With Annual Expenses Of $36,320, Including Taxes Of $23,930, Lawn Maintenance Of $1,200, Insurance (No Wind) Of $5,250, Water Of $5,400, And House Electric Of $540, With Trash Included In Taxes. A Rare Opportunity To Acquire A Stable Asset In A Prime Coral Springs Location With Built-In Value-Add Potential.
Approved Uses by Zoning — Medium Density Multiple-Family (rm-20 - 08 / MULTIFAMILY 2-9 UNITS)
Uses permitted by right under the municipality’s zoning for this district. The property may carry additional restrictions (deed, association or lease), so tenants are responsible for confirming their intended use with the municipality and landlord before committing.
Allowed by right
Multiple dwellings, Any use permitted in an RD or RC District, subject to that district's limitations (RD-8 Sec. 250297: one-family detached dwellings; single-family attached/semiattached dwellings in clusters of no more than two (up to three clusters/six units per Sec. 250308); RS districts: one-family detached dwelling and parks/recreational areas under 5 acres not operated for profit; RC-6: two or more detached one-family dwellings), Business related parking (Article VII, subject to limits on business related parking), Townhouses (per requirements elsewhere in the chapter), Certain community residences, recovery communities and congregate living facilities per Sec. 250152 / Table A (congregate living facilities within the Sec. 250152(3)(b) spacing distance require conditional use approval), Zero lot line dwellings (Sec. 250148)
With special approval
Nursery schools or child care centers, and public or private elementary, junior and senior high schools (buildings >= 30 ft from any R zoned lands; child care needs a fenced secure play lot, fence >= 5 ft; play lots within 50 ft of plot line screened by opaque fence/wall or hedge >= 5 ft), Places of worship, Community facilities
Read the full rm-20 - 08 / MULTIFAMILY 2-9 UNITS zoning guide ›
