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30877128
30877129

215 S Seacrest Blvd, Boynton Beach, FL 33435

ER
FL FL SL3134745
Marcus & Millichap - Fort Lauderdale
CS
FL SL-3605832
Marcus & Millichap - Fort Lauderdale
DC
FL SL 3234051
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Listed by Marcus & Millichap - Fort Lauderdale
$1,950,000
87 days on market
Updated 87 days ago

Seacrest Apartments

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,624
Net Rentable (SqFt) 6,624
Units 8
Cap Rate 6.32%
NOI $123,249
Occupancy 100%
Pro-Forma Cap Rate 7.27%
Pro-Forma NOI $141,853
Price per SqFt $294
Broker Co-Op Yes
Class C
Year Built 1935
Buildings 2
Stories 2
Acreage 0.430
Investment Type Value Add
Ownership Fee Simple

Multifamily | 8 Units | $243,750/unit

Marketing description

Marcus & Millichap is pleased to present Seacrest Apartments, a well-located 8-unit multifamily property positioned at 215 S Seacrest Boulevard and 107 SW 2nd Avenue in Boynton Beach, Florida. The property is situated on 0.43 acres and features eight large two-bedroom/one-bathroom apartments with generous floorplans. Originally built in 1935 with wood frame construction, the asset is equipped with central air conditioning throughout. Each unit has been upgraded with contemporary finishes including granite or quartz countertops, undermount sinks, and stainless-steel appliances, enhancing both resident appeal and market positioning. The property also features on-site coin-operated laundry with two washers and dryers owned by the seller, creating an additional income stream.

Seacrest Apartments is strategically located three blocks south of Boynton Beach Boulevard off Seacrest Boulevard, offering immediate access to Interstate-95 (0.7 miles) and Boynton’s primary retail and employment corridors. Directly across the street from the south parcel sits the transformational Boynton Beach Town Square project — an approved mixed-use redevelopment including 898 residential units, 23,625 square feet of commercial space, and structured parking exceeding 1,000 spaces, which will serve as a major catalyst for activity in the area.

Additionally, the upcoming The Villages mixed-use development — located at 405 E. Ocean Avenue — is now underway and will deliver approximately 336 residential rental apartments, 668 structured parking spaces, ~8,000 square feet of retail and restaurant space, and multiple community plazas with pedestrian connections between Boynton Beach Boulevard and Ocean Avenue, further elevating downtown’s appeal and residential demand.

With upgraded interiors, strong in-place fundamentals, and proximity to significant public-private redevelopment projects, Seacrest Apartments offers investors a rare opportunity to acquire a well-positioned multifamily asset in a core urban submarket poised for continued growth and increasing densities.

Investment highlights

  • Located Directly Across the Street from the Boynton Beach Town Square Project Which Consists of 898 Residential Units, Two Parking Garages Containing Over 1,000 Parking Spaces, and 23,625 Square-Feet

  • Unit Mix Consists of Entirely Two-Bedroom / One-Bathroom Apartment Units

  • Each Unit Upgraded With Either Granite or Quartz Countertops, Undermount Sinks and Stainless Steel Appliances

  • Central Air Conditioning Throughout

  • Coin-Operated Laundry On-Site

Listing Contacts

ER
FL FL SL3134745
Marcus & Millichap - Fort Lauderdale
CS
FL SL-3605832
Marcus & Millichap - Fort Lauderdale
DC
FL SL 3234051
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Listed by Marcus & Millichap - Fort Lauderdale

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$123,249.00
$10,270.75/mo

Valuation Metrics

0
DSCR
6.32%
Cap Rate
6.32%
ROI

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Additional Information

Name
Evan Richardson
License
FL SL3134745
Name
Cory Sanchez
License
SL-3605832
Brokerage
Marcus & Millichap
Title
Associate
Brokerage Address
5900 North Andrews Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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