Commercial property in Boca Raton, Florida № 2240467

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.