Address not disclosed, Boca Raton, FL 33432
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Address not disclosed, Boca Raton, FL 33432
Address not disclosed, Boca Raton, FL 33432
Address not disclosed, Boca Raton, FL 33432
Address not disclosed, Boca Raton, FL 33432
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Alex Mendel

Alex Mendel

+1(561) 827-8449
$ 3,200,000
Est. payment /mo
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Price Dropped by $300K

Address not disclosed Boca Raton, FL 33432

8,566 SqFt

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,566 sqft

Price per Sqft $373

MLS Listing ID A11971926

HOA Y/N No

Year Built 1975

Annual Tax Amount $18,281

Lot Size 0.350 Acres

Property Sub-Type Multi Family

Property Description

Gateway Manor is an 8-unit multifamily asset in East Boca Raton, one of the most desirable and supply-constrained coastal submarkets. Family owned and maintained for 40+ years, the property offers clear value-add potential supported by strong demographics and limited new supply.
Built in 1975 with concrete block construction, the asset sits on 0.35 acres and features a functional mix averaging 948 SF: 2 one-bed/2-bath, 4 one-bed + den/2-bath, and 2 two-bed/2-bath units. The ground floor includes two garages, an office, storage, and laundry facilities, providing flexibility for added income or future amenities.
Gateway Manor is 100% occupied with average rents of $2,063, approximately 15–30% below market. A full interior renovation—modern kitchens/baths, in-unit W/Ds, new flooring, impact windows, and ceiling updates—supports post-renovation rents of ~$2,750, an estimated $700 premium per unit.
The property is minutes from Mizner Park, Downtown Boca, Royal Palm Place, and premier beaches. The one-mile radius features $115,000+ average household income and $600,000+ median home values, supporting strong rental demand and low vacancy.
With an irreplaceable East Boca location, below-market rents, large unit sizes suited for repositioning, and long-term ownership stability, Gateway Manor offers a compelling opportunity for near-term rent growth and long-term appreciation.

Location

State FL

County Palm Beach

Area 4270

Exterior

Total Parking Spaces 14

Private Pool Yes

Building

Story 3

Others

Tax ID 06434730030030060

Virtual Tour https://www.propertypanorama.com/instaview/mia/A11971926

Miami Association of Realtors (SEFMIAMI MLS)
Listed by CBRE, Inc.
Alex Mendel

Alex Mendel

Agent

+1(561) 827-8449

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