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Highlights

• Property is being marketed by the original developer • Located in the highly desirable Coral Springs submarket • Fewer than 20 rental properties ranging from 20 to 100 units exist within the city • Extremely limited turnover of rental ownership in the surrounding submarket • Community has been developed and maintained by the same owner for the past 20 years • Positioned in a peaceful middle-income residential neighborhood • Built in 2006 and comprised of two four-story buildings • Unique offering featuring exclusively three-bedroom, two-bathroom residences • Spacious units averaging approximately 1,247 rentable square feet • Current rental rates are significantly below competing market properties • Conveniently located near major employment centers, retail destinations, and schools • Available at pricing substantially below replacement cost • Both buildings are serviced by elevators and include two stairwells each • Average apartment size measures approximately 1,247 rentable square feet • Residences feature 10-foot ceilings, ceramic tile flooring, and security alarm systems • Most units include private balconies • Equipped with central air conditioning and individual water heaters • Oversized eat-in kitchens with breakfast bars • Apartments include dishwashers, garbage disposals, and built-in microwave ovens • Large utility/laundry rooms with in-unit washers and dryers

Listing Details

  • Cap Rate

    6.1%

  • Space Type

    multifamily

  • Sub Category

    apartments-building

  • Date Listed

    5/15/2026

  • Net Operating Income

    $571,470

  • Parking Info

    123 spaces

Property Specifics

  • Property Name

    2801 Riverside Drive | Riverside Villas Condominiums

  • No of Stories

    4

  • No of Units

    123

  • Building Size

    49,896 SF

  • Lot Size

    2.42 Ac

  • Occupancy

    100%

Property Amenities

Unit Amenities

Air Conditioning
Central Heating
Dishwasher
High Ceilings
Kitchen
Microwave
Security System
Washer/Dryer or Laundry Services

Site Amenities

Swimming Pool