8-Unit Apartment Building with Impact
For Sale
$3,200,000
422 SW 9th Street, Boca Raton, FL 33432
8-unit multifamily property on 0.35 acres, built in 1975, with impact windows and in-unit W/Ds.
Property Size8,566 SF
Lot Size0.35 Acres
Days on Market160
Property Features for 422 SW 9th Street
General Information
Standard status
Active
Size
8,566 SF
Total Parking Spaces
2
Lot size
0.35 Acres
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
2 x 1BR/2BA, 4 x 1BR+den/2BA, 2 x 2BR/2BA
Multifamily Units
8
Additional Details
Average Monthly Rent
$2,063
Amenities
laundry facilities
Building Details
Building Size
8,566 SF
Year Built
1975
Construction
concrete block
Listing Agency:
CBRE, Inc.
(352) 278-7572
Listed By:
Periklis Synanidis · License #3363966
(352) 278-7572
Source:
Meyerlucas
Added: Feb 25
Changed: Jul 30
Last Checked: Jul 31 at 11:17AM
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 CBRE, Inc.
Investment Insights
Based on property information with market context.
Gateway Manor is an 8-unit apartment building built in 1975 with concrete block construction on a 0.35-acre site. The unit mix includes 2 one-bedroom, 2-bath units, 4 one-bedroom plus den, 2-bath units, and 2 two-bedroom, 2-bath units, with an average unit size of 948 SF.
The ground floor includes two garages plus an office, storage, and laundry facilities, supporting everyday operations and flexibility for future improvements. The property is 100% occupied and was family owned and maintained for 40+ years. Interior updates include modern kitchens and baths, in-unit W/Ds, new flooring, impact windows, and ceiling updates, positioning the units for continued rental demand.
Located in East Boca Raton, the property is minutes from Mizner Park, Downtown Boca, Royal Palm Place, and premier beaches.
The ground floor includes two garages plus an office, storage, and laundry facilities, supporting everyday operations and flexibility for future improvements. The property is 100% occupied and was family owned and maintained for 40+ years. Interior updates include modern kitchens and baths, in-unit W/Ds, new flooring, impact windows, and ceiling updates, positioning the units for continued rental demand.
Located in East Boca Raton, the property is minutes from Mizner Park, Downtown Boca, Royal Palm Place, and premier beaches.
Key Highlights
- 8‑unit apartment building on 0.35 acres built in 1975 with concrete block construction
- Unit mix: 2 one‑bed/2‑bath, 4 one‑bed+den/2‑bath, 2 two‑bed/2‑bath
- Average unit size is 948 SF
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $250.8k | $29.28 |
| − Vacancy | −$11.3k | −$1.32 |
| EGI | $239.5k | $27.96 |
| − OpEx | −$107.8k | −$12.58 |
| NOI | $131.7k | $15.38 |
8,566 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.88M
$1.65M – $2.20M
NOI $131,739 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.03M
$5.28M – $7.04M
NOI $422,286 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,472
Businesses Nearby
Explore this area
Business Placement
Demographics for 33432, FL
22,061
Population
14,405
Households
1.5
Avg Household Size
52
Median Age
58%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
4,796
Density / Sq Mi
$94,375
Median Household Income
$54,481
Median Earnings
$2,226
Median Rent
$943,400
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?
Apartment building - 8-unit multifamily property on 0.35 acres, built in 1975, with impact windows and in-unit W/Ds.
Where is this apartment building located?
The property is located at 422 SW 9th Street Boca Raton, FL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 8‑unit apartment building on 0.35 acres built in 1975 with concrete block construction; Unit mix: 2 one‑bed/2‑bath, 4 one‑bed+den/2‑bath, 2 two‑bed/2‑bath; Average unit size is 948 SF
