1991 SE 10th St
Deerfield Beach, FL 33441

Located on the border of Deerfield Beach and beautiful upscale Hillsboro Beach, the Coral Reef Apartments feature an A-plus location right on the Atlantic Coast, making them an excellent prospect for traditional multi-family rentals, seasonal vacation rentals, or any combination thereof. Coral Reef is fully renovated and currently fully leased to long term tenants, with one unit used for AirBnB rentals. With an easily finance-able operating history and 100% stable occupancy, it is an attractive investment prospect in this market. Rents are also slightly below market levels, offering immediate upside in addition to medium and long term rent/value growth. Adjacent to the property is a triplex of three very large units and an open lot owned by the same seller, all zoned RM25 and available separately. Please see attached treatment and site plan. Surrounded on nearly all sides by upscale condominiums and apartments, Coral Reef is truly poised to provide excellent, reliable cash flow for years to come, as well as future multi-family development opportunities on the contiguous vacant parcel, also enjoying a prime intracoastal/Atlantic Coast location. These spacious units feature attractive floorplans and views of the Atlantic Coast, as well as a large pool and beautiful grounds. Combined, these features create an excellent experience and value for tenants and vacationers. Rentals are an absolutely dominant part of South Florida’s Real Estate market, as the area is best known as a very popular destination for travelers around the world seeking the beautiful atmosphere and leisurely lifestyle that South Florida has to offer. This not only bolsters population growth and tourism, but the service industry as well across the board. This not only includes those sectors driven by tourism (dining, bars, entertainment) it also encompasses professionals of all kinds (accountants, lawyers, financial services, insurance sales). When presented against the backdrop of a nationwide economic shift towards service-centric jobs and businesses, South Florida appears poised to remain in high demand as a rental market for years to come. Being solidly in-step with nationwide economic trends overall promotes steady, sustainable job growth over the long term. As a result, the area has seen healthy population growth, and thus increased and sustained rental demand over the last decade. These factors combine to create excellent investment value for landlords, and affordable, quality rental housing in a prime location.