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    Boca Raton Multifamily Investment Opportunity Title is generated by Realmo AI

    1011 290 16 146 Exeter Dorset Mansfield Mansfield, Boca Raton, FL 33434

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    For Sale
    $449,400

    MULTI_FAMILY - Boca Raton, FL

    Property size:
    3,131 SF
    Price / SF:
    $143/SF
    Added:
    May 29, 2026
    Days on Market:
    2
    Last Refresh:
    May 30 at 1:06 pm

    Property Features for 1011 290 16 146 Exeter Dorset Mansfield Mansfield

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Zoning AR-AGRIC
    Bedrooms
    4
    Rooms
    Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 2, Bathroom 5, Bathroom 3, Bedroom 1
    Standard status
    Active
    APN
    00424708030011011
    Size
    3,131 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    EXETER AT CENTURY VILLAGE COND A PAR 1011 , DORSET AT CENTURY VILLAGE COND G PAR 290 , MANSFIELD AT CENTURY VILLAGE COND A PAR 16 , MAN 146
    Tax Annual Amount
    1967

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Electric
    Water source
    Public
    Water front
    1

    Building Details

    Year built
    1980
    Floors in Building
    1
    Number of units
    2
    Building materials
    CBS
    Roof type
    Shingle

    We can help!

    Listing Contact
    Devin Mckinney
    Devin Mckinney

    Listing agent Devin Mckinney License #3403199

    Listing office Serhant 648 George Bush Blvd., New York, FL

    Listing date May 29, 2026

    MLS# B26034199 Listing URL

    Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Package sale of 4 condominium units.
    • Strong income‑producing potential with current $6,175 monthly rental income.
    • Potential to reach approximately a 10% cap rate.
    • Located in desirable Century Village, a well‑maintained 55+ community.
    • Enjoy resort‑style amenities including clubhouse, pools, fitness center, transportation, tennis, and theater.
    • Convenient location near shopping, dining, and major highways.

    Overview

    This offering presents an investor opportunity to acquire four condominium units in Century Village, a 55+ community. The properties include: a 2-bedroom, 1.5-bathroom unit at 1011 Exeter A; a 2-bedroom, 1.5-bathroom unit at 290 Dorset G; a 1-bedroom, 1.5-bathroom unit at 16 Mansfield A; and a 1-bedroom, 1.5-bathroom unit at 146 Mansfield D. Century Village provides resort-style amenities such as a clubhouse, pools, a fitness center, transportation services, tennis courts, and a theater. The community is conveniently located near shopping, dining, and major highways. The combined size of the properties is 3131 square feet. The zoning is AR-AGRIC. The current monthly rental income is $6,175, with potential to reach approximately $6,800 per month. Estimated monthly carrying costs are approximately $3,000. Currently operating at an estimated 8.5% cap rate with potential to reach approximately a 10% cap rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Map

    City
    Boca Raton
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.177748
    Latitude
    26.385081

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    FAQs

    What type of property is this?
    Multifamily property - Four condominium units in a 55+ community for sale.
    Where is this multifamily property located?
    The property is located at 1011 290 16 146 Exeter Dorset Mansfield Mansfield Boca Raton, FL.
    What is the asking price?
    The asking price for this property is $449,400.
    What are key features of this property?
    This property features: Package sale of 4 condominium units.; Strong income‑producing potential with current $6,175 monthly rental income.; Potential to reach approximately a 10% cap rate.
    (410) 209-9055
    We can help!
    Listing Contact
    Devin Mckinney
    Devin Mckinney
    Real Estate License ID: 3403199
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    1011, 290 , 16 , 146 Exeter, Dorset , Mansfield , Mansfield, Boca Raton, FL 33434
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