Ten-Bed Multifamily
New
For Sale
$729,999
119 SW 2ND, Boynton Beach, FL 33435
Operational residential property with furnished bedrooms and shared community spaces.
Property Size2,941 SF
Days on Market4
Property Features for 119 SW 2ND
General Information
Standard status
Active
Size
2,941 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$17,594
Amenities
shared living areas
furnished bedrooms
comfortable community spaces
Building Details
Building Size
2,941 SF
Year Built
1985
Listing Agency:
eXp Realty LLC
Listed By:
Kayla Camps
(352) 391-2953
Source:
Elliman
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 5 at 8:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty LLC
Investment Insights
Based on property information with market context.
This multifamily residence was built in 1985 and is configured for ten residents. The property includes furnished bedrooms, shared living areas, and common spaces intended to support an organized residential setting. It is fully operational and income-producing, with established operating infrastructure and a history of occupancy.
The residence is positioned near employment centers, healthcare services, public transportation, and essential community amenities. WalkScore is 42, categorized as Car-Dependent, while BikeScore is 56, categorized as Bikeable. The property is being offered as one of nine assets in a portfolio sale.
The residence is positioned near employment centers, healthcare services, public transportation, and essential community amenities. WalkScore is 42, categorized as Car-Dependent, while BikeScore is 56, categorized as Bikeable. The property is being offered as one of nine assets in a portfolio sale.
Key Highlights
- Ten‑bed residential configuration
- Furnished bedrooms with shared living and community areas
- Built in 1985
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,231
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$904,620
$904.6K
Cap Rate 7%
$646,157
$646.2K
Cap Rate 9%
$502,567
$502.6K
Market Conditions
NOI Build-Up for 2,941 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$86.1K $29.28/SF
− Vacancy
−$3.9K −$1.32/SF
EGI
$82.2K $27.96/SF
− OpEx
−$37.0K −$12.58/SF
NOI
$45.2K $15.38/SF
Area
Palm Beach County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$904,620
Cap Rate 7%
$646,157
Cap Rate 9%
$502,567
Alternative Uses
Best Use
Apartment 5plus
$646.2K
$565.4K – $753.9K
NOI $45,231 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $144,985 @ 7.0% cap · market cap 19.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,300
Businesses Nearby
Explore this area
Business Placement
Demographics for 33435, FL
37,318
Population
20,058
Households
1.9
Avg Household Size
45
Median Age
32%
College-Educated
85%
High-School Grad
6.5 sq mi
ZIP Area
5,741
Density / Sq Mi
$66,612
Median Household Income
$35,488
Median Earnings
$1,846
Median Rent
$306,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Operational residential property with furnished bedrooms and shared community spaces.
Where is this multifamily property located?
The property is located at 119 SW 2ND Boynton Beach, FL.
What is the asking price?
The asking price for this property is $729,999.
What are key features of this property?
This property features: Ten‑bed residential configuration; Furnished bedrooms with shared living and community areas; Built in 1985
