Riverside Villas Condominiums 2801-2851 Riverside Dr 40 Unit Apartment Building $12,850,740 CAD ($321,269 CAD/Unit) 6.08% Cap Rate Coral Springs, FL 33065

Marcus & Millichap, as exclusive listing agent, is excited to bring to market Riverside Villas at Coral Springs Condominiums, which consists of 40 out of 64 total condominiums. The condominiums are being offered for sale by the original developer of the condominium community.
Riverside Villas is located on Riverside Drive in the Forest Hills area of Coral Springs, placing residents within a quiet, centrally located neighborhood that delivers immediate access to daily conveniences and lifestyle amenities along the Sample Road–University Drive corridor. The property consists of two identical four-story buildings that were constructed in 2006 of concrete block with pitched tile roofs and situated on a 2.42-acre site. There is a central courtyard with a gated pool with sundeck, and cabana building. Each building is elevator served and has two stairwells. There is ample open parking that surrounds the property. All condominiums are a three-bedroom and two bathroom floor plan ranging in size from 1,200 to 1,338 rentable square feet. Each is equipped with central heating and air-conditioning, all electric appliances including dishwasher and built-in microwave, granite countertops, large utility room with washer and dryer hook-ups, 10' ceilings, ceramic tile flooring, alarm system, and private balcony (floors 2 through 4). Individual condominium sales in the subject property average less than 2 per year since its initial offering, which reflects its desirability to its owners.
The City of Coral Springs is located in the northwest corner of Broward County and runs along the south and east sides of the Sawgrass Expressway, spanning all the way to the Everglades. The city has an estimated population of approximately 140,800 residents and is characterized by a highly educated, diverse workforce. The city reports high educational attainment levels, strong household incomes, and steady population growth, supporting sustained residential demand. Riverside Villas is approximately 22–28 miles from Fort Lauderdale–Hollywood International Airport, 40–43 miles from Palm Beach International Airport, and about 40 miles from Miami International Airport, offering residents convenient access to domestic and international air travel. Residents enjoy convenient access to the Sawgrass Expressway (FL-869), providing efficient connectivity to I-75, I-595, Florida’s Turnpike, and Interstate 95.
Coral Springs features a diverse employment base anchored by Broward County Public Schools, Fiserv, Publix, Broward Health Coral Springs, ABB Optical, and major national retailers. The city’s downtown area at Sample Road and University Drive is undergoing significant transformation with the Cornerstone mixed-use development, which includes new luxury residential units, retail and dining space, a Hyatt Place hotel, and cultural venues, enhancing the city’s economic vitality and lifestyle appeal. The community is located minutes from Broward Health Coral Springs, a full-service regional hospital offering 24-hour emergency care, cardiovascular services, maternity and pediatric care, surgical specialties, and outpatient programs. The hospital is one of the city’s largest employers and provides residents with convenient access to comprehensive medical services.
Residents benefit from proximity to Coral Square Mall at Atlantic Boulevard and University Drive, a regional retail hub with over 120 stores anchored by national tenants such as Macy’s, JCPenney, and Kohl’s. Combined with neighborhood shopping centers lining University Drive and Sample Road, the area offers convenient access to grocery stores, pharmacies, fitness centers, banks, and a wide range of dining options, supporting a highly functional and convenient lifestyle.