Property Details for 100 Hidden Valley Blvd

Property size

115,600 SF

Property type

Commercial real estate

Description

This exceptional 106-unit apartment building in Boca Raton, FL, presents a lucrative investment opportunity. Boasting 115,600 square feet on a 7.23-acre lot (APN 06-43-46-32-37-000-0000), the property features 53 newly constructed units (29 two-bedroom/two-bathroom, 24 three-bedroom/two-bathroom) and 53 existing units (40 two-bedroom/two-bathroom, 13 one-bedroom/1.5-bathroom). Amenities include a brand-new clubhouse with a fitness center, a sparkling pool, and extensive landscaping with over 350 new plantings. Ten new garages generate additional rental income at $500/month each. Further income streams are derived from outdoor parking (estimated future rental income of $100/unit), on-site coin-operated laundry, and annual pet fees. The property's current NOI is $2,532,105, with a pro-forma NOI of $2,865,532, yielding a 5.89% cap rate and a pro-forma cap rate of 6.66%. The asking price is $43,000,000, with flexible financing options available, including a potential equity stake for the seller with a 5% annual preferred return. The seller also has an appraisal for $45,000,000 from their current lender. Construction is slated for completion in early fall, with occupancy expected by late fall, targeting a year-end closing. Located at 100 W Hidden Valley Blvd, Boca Raton, FL 33487, this property benefits from Boca Raton's vibrant market, offering upscale shopping, dining, and coastal attractions. The property is zoned R3B.

Location Insight

City

Boca Raton

County

Palm Beach

State

Florida

Longitude

-80.079257373651

Latitude

26.417646712922