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3502 Riverside Drive
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PRICED AT ONLY: $899,000

Address: 3502 Riverside Drive, Coral Springs, FL 33065

Description

Fully leased and income producing triplex in highly desirable Coral Springs. Excellent opportunity for an investor seeking immediate cash flow in a strong rental market. Property is fully occupied and generates approximately $72,000 in gross annual rent. Estimated total landlord expenses including taxes are approximately $20,000 annually, producing an estimated Net Operating Income of approximately $52,000. Based on an estimated market value of $900,000, this property offers an approximate 5.8% cap rate.Each unit enjoys on site parking, private yard space, and the property backs up to a canal, offering added privacy and appeal for long term tenant retention. Located in a sought after residential community near shopping, major roadways, parks, and schools. Strong demand area with consistent rental history. This is a turn key multifamily asset offering dependable performance and long term appreciation potential. Investors only; do not disturb tenants. Showings by appointment only.

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  • MLS#: F10542493 ( Residential Income )
  • Street Address: 3502 Riverside Drive
  • Viewed: 39
  • Price: $899,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1973
  • Bldg sqft: 0

Description

Fully leased and income producing triplex in highly desirable Coral Springs. Excellent opportunity for an investor seeking immediate cash flow in a strong rental market. Property is fully occupied and generates approximately $72,000 in gross annual rent. Estimated total landlord expenses including taxes are approximately $20,000 annually, producing an estimated Net Operating Income of approximately $52,000. Based on an estimated market value of $900,000, this property offers an approximate 5.8% cap rate.Each unit enjoys on site parking, private yard space, and the property backs up to a canal, offering added privacy and appeal for long term tenant retention. Located in a sought after residential community near shopping, major roadways, parks, and schools. Strong demand area with consistent rental history. This is a turn key multifamily asset offering dependable performance and long term appreciation potential. Investors only; do not disturb tenants. Showings by appointment only.
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Features
Building and Construction
  • Flooring: Tile
  • Roof: Spanish Tile
Eco-Communities
  • Water Source: Public
Utilities
  • Cooling: Central Air, Electric
  • Heating: Separate Meters, Central, Electric
  • Sewer: Public Sewer
  • Utilities: Cable Available
Finance and Tax Information
  • Home Owners Association Fee Includes: Water
  • Tax Year: 2024
Other Features
  • Legal Description: CORAL SPRINGS SUB NO 1 59-30 B LOT 15 BLK Y
  • Parcel Number: 484114015580
  • Views: 39
  • Zoning Code: RM-20
Nearby Subdivisions
Addison Court   Brentwood Village   Castlewood   Castlewood 71-37 B   Chevy Chase Amd Of   Chevy Chase Amd Plat   Coral Lago   Coral Lago 182-31 B   Coral Pine Condo 1   Coral Spgs Country Club   Coral Spgs Country Club S   Coral Spgs Country Club W   Coral Spgs Lakes 68-12 B   Coral Spgs Sub   Coral Spgs Sub 1 59-30 B   Coral Spgs Village Green   Coral Spgsiversity Drive   Coral Springs   Coral Springs Country Club   Coral Springs Ii   Coral Springs Sub   Coral Springs Sub No 1   Coral Springs Village Gre   Country Club Village   Country Club Village 110-   Crossings   Crossings No 2   Dells   Diaflor Subdivision   Fairway Lake 110-22 B   Forest Hills 72-47 B   Forest Hills South   Forest Hills West 74-38 B   Forest Park South I   Glenwood Sub   Glenwood Sub 69-33 B   Glenwood Subdivision   Greenwood 92-48 B   Greenwood Ii 103-46 B   Grenadier Estates 124-7 B   Grenadier Trace I Condo   Malibu Villas Condo   None   Normandy Terrace   Pine Glen   Ramblewood East Condo   Royal Land Amd 132-20 B   Royal Land Amended   Royal Land Central And Royal L   Royal Palm Pointe 86-48 B   Royal Palm Village 131-35   Running Brook Hills 70-23   Springs Park   Springs Park 77-2 B   Springs Park East Condo   The Crossings 2 97-42 B   The Crossings 93-5 B   The Dells   The Dells 64-40 B   The Windings 70-44 B   Waters Edge Condos   Westchester   Windings   Wood Lake 89-49 B   Woodside Estate   Woodside Estates   Woodside Estates 127-10 B   Woodside Vill Sec One 92-  
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