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|Number of units||190|
Coral Falls is a 190-unit, value-add, multi-housing asset situated on 18 acres in a prime suburban growth market in South Florida – Coral Springs, Broward County, Florida. This 1988 vintage asset was acquired by the current owner in 1992 and been meticulously maintained throughout their ownership, gradually making modest upgrades to unit interiors, as well as the clubhouse, fitness center, pool and other common areas. The community stands to benefit significantly from a continued and more expansive upgrade program.
Coral Falls represents a unique acquisition opportunity combining an incredibly located suburban asset, with significant value-add potential, and an affluent demographic profile ($91K average income within a 3-mile radius) that provides a clear path to rental rate growth through implementation of an in-depth upgrade program.
- High quality asset with significant value-add potential
- Newly constructed and renovated comps demonstrate room to grow
- Strong property performance through Covid
- Unique, low density product with only 11 units per acre
- Affluent resident profile with $91,000 average income within a 3-mile radius
- Established demand in a market with virtually no new supply
- A- and B-rated schools in a top-tier school district
- Convenient job access - 113 million square feet of office within a 45-minute drive