8430 NW 40th St, Coral Springs, FL 33065

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Building Details:

• Year Built: 1972

8430 NW 40th St is amulti-family property located in Coral Springs, FL. The property currently has 1 multi-family space for lease and is marketed by .

Coral Flats is a centrally located multifamily asset in Coral Springs, FL. The Coral Springs market is well known for incredibly low vacancy and high demand. Chartered in 1963 and once known as the "City in the Country", Coral Springs has built a reputation of being very business friendly with a great mix of industrial, life science, technology, retail, financial services, and hospitality industries.

Coral Springs has been honored to receive many distinguished honors including the 1997 and 2003, Florida Governor's Sterling Award. This is the State of Florida's highest honor given to a community for overall excellence. In 2007, The City was the first State or Local government agency to receive the Malcom Baldridge National Quality Award. Money Magazine also listed Coral Springs as one of the best places to live. Multiple Year honors were also given as one of the 100 best communities for young people by America's Promise Alliance!

With a shared vision of being a Premier South Florida Community, there is a core focus on maintaining a large network of parks and recreation services. Coral Springs is widely known throughout the State of Florida for having a high degree of excellence as it relates to maintaining high quality schools. The City of Coral Springs goes to great lengths to ensure a high standard of living that services all residents. From Arts to Parks, few communities in the South Florida market can rival the attention to detail the City of Coral Springs places on quality of life for its 133,759 estimated residents as of 2019.

There are multiple redevelopment projects currently underway or in planning. The least of which is a visionary approach to redevelopment of the future downtown core and intersections of Sample Road and University Drive. The Cornerstone Plaza and City Village projects will completely reshape the cities core adding significant walkability, new Class A residential apartments, boutique hotel and Class A Office for a premier work live environment. Area amenities like new upscale grocery, retail, restaurants, and entertainment will complete the vision of a revitalized downtown.

• Available Spaces

Suite	Space Type	Pricing	Size
---	Multi-Family Space	For lease: Negotiable
The Coral Flats multifamily opportunity is perfectly situated in the City of Coral Springs, FL. Bordering a City Park and the 188 new home development of Coral Lago, Coral Flats boasts a high occupancy rate and the broader rental market is one of the strongest in the State of Florida. There is simply not enough inventory to service the demand which creates a higher floor in rental growth than other markets. Most traditional apartments and condos in Coral Springs that are 2 bedroom are being offered at a price starting at $1,500 monthly as published in Realtor.com and Zillow. The subject property has a very desirable unit mix of mostly two bedroom homes. In fact, there are eight two bedroom, one bath units as well as six one bedroom, one bath units. Almost all of the fourteen units have seen renovations with some completely gut renovated. New appliances, kitchens with granite counters, new flooring, and many more features tell the renovation story here at Coral Flats. Parking is at a premium in most multifamily in the area and Coral Flats has 24 outlined spots with additional areas for possible overflow. There is significant rental upside by continuing the renovations that the current owner has already begun. Looking at the broader Coral Springs rental market, you will find that Coral Flats multifamily opportunity tells a very simple story as it relates to the return on investment for upscale renovations. Coral Flats provides security cameras in the common areas of the building which is an amenity that is very much appreciated by the residents. All of the landscaping is fed by a well irrigation system with lines run throughout the property. Coral Flats has separate electric meters for each of the units with an opportunity to possibly add sub metering to increase the net operating income. The swimming pool area is one amenity that South Florida residents appreciate. There is an opportunity to better manage tenant access and maximize the value that it brings. The Spanish Tile roof was permitted and finished in 2015 upon the current owners acquisition. The 40 Year Inspection was also completed around the same time. Brand new hurricane impact windows were installed at the end of 2016 thereby adding peace of mind and energy efficiencies to the residents. Insurance costs have been manageable due to these major upgrades.  « show less The Coral Flats multifamily opportunity is perfectly situated in the City of Coral Springs, FL. Bordering a City Park and the 188 new home development...  show more » View Details The Coral Flats multifamily opportunity is perfectly situated in the City of Coral Springs, FL. Bordering a City Park and the 188 new home development of Coral Lago, Coral Flats boasts a high occupancy rate and the broader rental market is one of the strongest in the State of Florida. There is simply not enough inventory to service the demand which creates a higher floor in rental growth than other markets. Most traditional apartments and condos in Coral Springs that are 2 bedroom are being offered at a price starting at $1,500 monthly as published in Realtor.com and Zillow. The subject property has a very desirable unit mix of mostly two bedroom homes. In fact, there are eight two bedroom, one bath units as well as six one bedroom, one bath units. Almost all of the fourteen units have seen renovations with some completely gut renovated. New appliances, kitchens with granite counters, new flooring, and many more features tell the renovation story here at Coral Flats. Parking is at a premium in most multifamily in the area and Coral Flats has 24 outlined spots with additional areas for possible overflow. There is significant rental upside by continuing the renovations that the current owner has already begun. Looking at the broader Coral Springs rental market, you will find that Coral Flats multifamily opportunity tells a very simple story as it relates to the return on investment for upscale renovations. Coral Flats provides security cameras in the common areas of the building which is an amenity that is very much appreciated by the residents. All of the landscaping is fed by a well irrigation system with lines run throughout the property. Coral Flats has separate electric meters for each of the units with an opportunity to possibly add sub metering to increase the net operating income. The swimming pool area is one amenity that South Florida residents appreciate. There is an opportunity to better manage tenant access and maximize the value that it brings. The Spanish Tile roof was permitted and finished in 2015 upon the current owners acquisition. The 40 Year Inspection was also completed around the same time. Brand new hurricane impact windows were installed at the end of 2016 thereby adding peace of mind and energy efficiencies to the residents. Insurance costs have been manageable due to these major upgrades. Pricing: Negotiable Availability: Now Listing ID: 3154153 Save to list