boca sol apartments - DeFalco Real Estate Group

BOCA SOL APARTMENTS
200 N.E. 20 TH STREET
BOCA RATON, FL 333431
OFFERING MEMORANDUM
OFFERED AT
$9,500,000
TABLE OF CONTENTS
PREPARED BY:
Fred DeFalco
President
DeFalco Real Estate Group
Public Pricing® LLC
1601 NW 13th Street
Boca Raton, FL 33486
Office: 561-391-4141 Extension 216
Mobile: 561-702-3757
Fax: 561-391-3911
[email protected]
www.defalco.com
www.publicpricing.com
Manny Gutierrez
CEO
DeFalco Real Estate Group
Public Pricing® LLC
1601 NW 13th Street
Boca Raton, FL 33486
Office: 561-391-4141 Extension 207
Mobile: 561-352-9406
Fax: 561-391-3911
[email protected]
www.defalco.com
www.publicpricing.com
Terri Samuels
Executive Assistant
DeFalco Real Estate Group
Public Pricing® LLC
1601 NW 13th Street
Boca Raton, FL 33486
Office: 561-391-4141 Extension 310
Mobile: 561-271-5656
Fax: 561-391-3911
[email protected]
www.defalco.com
www.publicpricing.com
DISCLOSURE AND CONFIDENTIALITY
3
SECTION I - PROPERTY DESCRIPTION
4
5
6
7
8
9
10
11
12
14
24
27
Investment Overview
Area Overview
Area Highlights
School System
Employment Presence
Property Summary
Area Maps
Aerial Photos
Property Photos
Floor Plans
Amenities
SECTION II - RECENT SALES
Recent Sales Map
Price / SF & Price / Unit
Recent Sales
SECTION III - RENT COMPARABLES
Rent Comparables Map
Average Occupancy & Average Rents
Rent Comparables
SECTION IV - FINANCIAL ANALYSIS
Unit Mix & Unit Rent SF
Actual 6 Year Income / Expese
Rent Roll
SECTION V - DEMOGRAPHICS
Demographic Report
Summary Report
Demographic Map
Traffic Count
28
29
30
31
33
34
35
37
40
41
42
44
46
47
48
49
52
2
DISCLOSURE AND CONFIDENTIALITY
STATEMENT:
The information and material contained in this package (“Offering Memorandum”) has been prepared to provide a
summary of information to all prospective purchasers and to establish a preliminary level of interest in the property
described herein. It does not, however, claim to represent all material and information regarding the subject
property, and it is not a substitute for a thorough due diligence investigation that all purchasers should conduct and
satisfy themselves. DeFalco Real Estate Group, Public Pricing® and Seller have not made any investigation of the
property, operating history, financial reports, leases, tenants, square footage, or any other aspect of the property,
including but not limited to age of property, environmental problems that may exist and make no warranty or
representation whatsoever concerning any of these issues.
The accuracy of information and material contained in this package has been obtained from sources believe to be
reliable; however, DeFalco Real Estate Group, Public Pricing® and Seller make no warranty or representation
whatsoever regarding the accuracy or completeness of the information and material provided. Any and all
financials, projections, opinions, assumptions or estimates used are for example only and do not necessarily
represent the current or future performance and stability of the property.
DeFalco Real Estate Group, Public Pricing® and Seller strongly urge and recommend that prospective purchasers
conduct an in-depth investigation and rely on their own due diligence of every physical and financial aspect of the
property to determine if the property meets their needs and expectations. We also recommend that prospective
purchasers consult with their tax, financial and legal advisors on any matter that may affect their decision to
purchase the property and the subsequent consequences of ownership. All parties are advised that in any
property, the presence of certain kinds of molds, funguses, or other organisms may adversely affect the property
and the health of some individuals. DeFalco Real Estate Group, Public Pricing® and Seller recommends, if
prospective buyers have questions or concerns regarding this issue, that prospective buyers conduct further
inspections by a qualified professional.
The Seller retains the sole right to withdraw, modify or cancel this offer to sell at any time and without any notice
or obligation. Any sale is subject to the sole and unrestricted approval of Seller, and Seller shall be under no
obligation to any party until such time as Seller and any other necessary parties have executed a purchase and sale
agreement containing terms and conditions acceptable to Seller and such obligations of Seller shall be those in the
contract of sale.
Information and material contained in this document is strictly confidential and furnished for the sole purpose of
considering an investment in the property described herein. Information and material contained herein is not to be
copied and (or) used for any purpose or made available to any other person without the express written approval
from DeFalco Real Estate Group and (or) Public Pricing® LLC. By accepting this “Offering Memorandum”, the
recipient agrees to keep all information and material contained herein confidential.
3
BOCA SOL APARTMENTS
200 N.E. 20 TH STREET
BOCA RATON, FL 333431
PROPERTY DESCRIPTION
4
INVESTMENT OVERVIEW
This exclusive listing offers the opportunity to purchase a stabilized, multifamily asset.
Boca Sol Apartments is located in the renowned City of Boca Raton Florida. The property is located in East Boca
Raton, east of I-95, north of Glades Road, east of Dixie Highway, on 20th N.E. Street. The property consist of 5
apartment buildings and 1 management/leasing office with a pool and beach area. Under original ownership, the
apartment complex was built in 1969 using concrete block and reinforced concrete construction, the exterior is
painted stucco. The apartment complex sits on 5.19 acres in a well desired location.
There are a total of 90 apartments with 3 different floor plans that include 36 small one bedroom - one bath units,
16 large one bedroom - one bath units, and 38 two bedroom - one bath units. As units turn, management update
units with new flooring, resurfaced counter tops, closet doors, resurfaced tubs, efficient toilets, fresh paint, and
carpet in order to modernize the apartment community.
Tenants are responsible for paying electric, water, phone, cable and internet. There are a total of 5 laundry rooms,
one in each building with a total of 10 sets of washers and dryers. The laundry machines are managed and
maintained by Boca Sol Apartments and provides an additional steady stream of income.
Situated in East Boca Raton, Boca Sol is conveniently located to FAU and major employers.
Please call to set appointment, our set scheduled Property Previews are:
• Tuesday
1pm to 4pm
• Thursday 1pm to 4pm
This property is being offered at the published price of
$9,500,000.00
PROPERTY DESCRIPTION
5
AREA OVERVIEW
Boca Raton is a city in Palm Beach County, Florida, USA, incorporated in May 1925. According to the
United States Census Bureau, the city has a total area of 29.1 square miles. 27.2 square miles of this
is land and 1.9 square miles of it is water. Boca Raton is a ‘principal city’ (as defined by the Census
Bureau) of the South Florida metropolitan area. In the 2000 census, the city had a total population
of 74,764 and the 2006 population recorded by the U.S. Census Bureau was 86,396. However, the
majority of the people under the postal address of Boca Raton, about 200,000 in total, are not actually
within Boca Raton’s municipal boundaries. It is estimated that on any given day, there are roughly
350,000 people in the city itself. In terms of both population and land area, Boca Raton is the largest
city between West Palm Beach and Pompano Beach, Broward County.
The literal translation of “Boca Raton” is “Mouth of The Mouse” (“mouse” in Spanish is “ratón”), the
Spanish word boca meaning inlet and ratón being a Spanish nautical term describing rocks that
gnawed at a ship’s cable. Another explanation is that it refers metaphorically to a pirate’s cove. The
name Boca Ratones originally appeared on eighteenth century maps associated with an inlet in the
Biscayne Bay area of Miami. By the beginning of the nineteenth century, the term was mistakenly
moved north to its current location on most maps and applied to the inland waterway from the closed
inlet north for 8.5 miles, which was called the “Boca Ratones Lagoon”.
PROPERTY DESCRIPTION
6
AREA HIGHLIGHTS
Mizner Park which was completed in 1991, is a downtown outdoor shopping and dining center, was
built over the site of the old Boca Raton Mall. It has since become a cultural center for the southern
Palm Beach County. Featuring a landscaped central park between the two main roads (collectively
called Plaza Real) with stores only on the outside of the roads, Mizner Park resembles a Mediterranean
suburban “town center” with a more contemporary look.
Boca Raton Museum of Art - As “The Official Fine Arts Museum for the City of Boca Raton.” the Museum
plays a key role in enhancing the cultural, educational, and economic vitality of Boca Raton and
its surrounding communities, and has maintained the reputation of being one of South Florida’s leading
cultural institutions, attracting more than 200,000 visitors annually to its galleries and programs.
Town Center at Boca Raton is an upscale super-regional shopping center. It is the largest enclosed and
conventional shopping mall within Palm Beach County, and second largest by square feet in South Florida,
behind the Aventura Mall.
Cinemark Theaters Palace 20 - Previously Muvico Theaters who sold its Boca Location to Cinemark in
March of 2009, is one of the most luxurious movie theaters in America and one of Boca Raton’s most
popular entertainment destinations.
Gumbo Limbo Nature Center, founded in 1984, is a unique cooperative project of the City of Boca Raton,
Greater Boca Raton Beach and Park District, The Palm Beach County School District, Florida Atlantic
University (FAU), and Gumbo Limbo Nature Center, Inc. Each year, more than 100,000 local and tourist
visitors receive valuable environmental education while enjoying respite from the city bustle.
PROPERTY DESCRIPTION
7
SCHOOL SYSTEM
City of Boca Raton Public Library - located at 200 NW Boca Raton Blvd, Boca Raton is less than
10 minutes from the Subject Property.
Education - 12 Elementary Schools, 5 Middle Schools, 4 High Schools, 17 Private Schools and 5
Universities. The schools for this community are JC Mitchell Elementary, Boca Raton Middle, and
Boca Raton Community High.
Universities:
• Florida Atlantic University founded in 1961, held its first classes in Boca Raton in 1964. FAU
is a member of the State University System of Florida and is the largest university in Boca
Raton. It has over 26,000 students, 3,000 of which are residential students, and a Division
I athletics program. FAU is located at 777 Glades Rd, Boca Raton, which is 5 minutes from the
subject property.
• Palm Beach State College has had a Boca Raton campus, adjacent to Florida Atlantic University,
since 1971. Located at 3000 Saint Lucie Ave, Boca Raton, which is 3.4 miles from the subject
property.
• Lynn University is a four year co-educational institution offering 17 undergraduate degrees and
five graduate degrees with more than 114 specializations through its five colleges. Located at
3601 N. Military Trail, Boca Raton, which is less than 3 miles from the subject property.
• Digital Media Arts College, founded in 2001, offers bachelor’s and master’s degrees in computer
animation and graphic design. Current enrollment is approximately 350 students. Located at 5400
Broken Sound Boulevard Northwest, Boca Raton, which is ten minutes from the subject property.
• Everglades University is regionally accredited by the Commission on Colleges of the Southern
Association of Colleges and Schools to award bachelor’s and master’s degrees. Located at 5002
TRex Ave, Boca Raton, which is 10 minutes from the subject property.
PROPERTY DESCRIPTION
8
EMPLOYEMENT PRESENCE
Palm Beach County boasts some of the finest manufacturers in the world. Their presence is a strong
indication of the country’s ability to support industry. Although the country has a variety of producers,
there are distinct industry clusters. The most prevalent in the country are communications & information
technology, aerospace & engineering, agriculture & food processing, business & financial services and
medical & pharmaceutical products. Many of the country’s industrial employers are competing on a
worldwide basis with products sold in the international market. Some of the largest employers in the
state are located within Boca Raton.
Goods Producing companies include IBM Corporation who employs approximately 600 individuals,
Tyco Safety / Sensormatic has 500 employees, Jarden Consumer Solutions employs 450 people,
and Siemens and Signet Diagnostics Imaging both employ 400 workers.
Service Producing Companies like FAU which employees 2,776, the Boca Raton Resort & Club has
2,200 employees, The Office Depot Headquarters which has 2,100 employees, Boca Raton Community
Hospital maintains 2,100 employees, and the City of Boca Raton employs an additional 1,638
employees to name a few.
PROPERTY DESCRIPTION
9
PROPERTY SUMMARY
THE OFFERING
Property
Property Address
Boca Sol Apartments
200 N.E. 20th Street
Boca Raton, FL 33431
06-43-47-17-00-000-7015
R3E
Pacel Number
Zoning
SITE DESCRIPTION
Number of Units
Number of Buildings
Number of Stories
Year Built
Lot Size
Type of Ownership
Density
Parking
Parking Ratio
Landscapting
Topography
90
5 + Management Office
2
1969
5.19 acres
Free Simple
18+/- Units Per Acre
166 Spaces
1.85 Spacer Per Unit
Mature
Level
UTILITIES
Water
Phone
Electric
Cable
City of Boca Raton - Owner
AT&T / Bell South - Resident
FPL - Resident
Comcast - Resident
CONSTRUCTION
Foundation
Framing
Exterior
Parking Surface
Roof
Concrete Slab
Concrete Block
Concrete Block / Painted Stucco
Paved Asphalt
Built Up Flast Shingled Mansards
MECHANICAL
HVAC
Wiring
Fire Protection
Central Air - Conditioning
Copper
Smoke Detectors / Fire Extinguishers
PROPERTY DESCRIPTION
10
AEREA MAPS
LOCA AREA MAP
REGIONAL MAP
PROPERTY DESCRIPTION
11
AERIAL PHOTOS
PROPERTY DESCRIPTION
12
AERIAL PHOTOS
PROPERTY DESCRIPTION
13
PHOTOS
PROPERTY DESCRIPTION
14
PHOTOS
PROPERTY DESCRIPTION
15
PHOTOS
PROPERTY DESCRIPTION
16
PHOTOS
PROPERTY DESCRIPTION
17
PHOTOS
PROPERTY DESCRIPTION
18
PHOTOS
PROPERTY DESCRIPTION
19
PHOTOS
PROPERTY DESCRIPTION
20
PHOTOS
PROPERTY DESCRIPTION
21
PHOTOS
PROPERTY DESCRIPTION
22
PHOTOS
PROPERTY DESCRIPTION
23
FLOOR PLANS
2 BEDROOM / 1 BATH
• 855 Square Feet
• 38 Units
• 42% of Total Units
PROPERTY DESCRIPTION
24
FLOOR PLANS
Large BEDROOM / 1 BATH
• 725 Square Feet
• 16 Units
• 18% of Total Units
PROPERTY DESCRIPTION
25
FLOOR PLANS
Small BEDROOM / 1 BATH
• 713 Square Feet
• 36 Units
• 40% of Total Units
PROPERTY DESCRIPTION
26
AMENITIES
COMMON AREA
• Large Open Landscape Spaces
• Picturesque Pool
• Laundry Facility In Each Building
• Resident Storage Bins
• East Location Close To Beaches
• Conveniently Located to I-95
UNIT AREA
• Large Floor Plans
• Central Air-Conditioning
• Fully Equipped Appliance Package
In Kitchen
• Walk-in Closets
• Screened Porch
PROPERTY DESCRIPTION
27
BOCA SOL APARTMENTS
200 N.E. 20 TH STREET
BOCA RATON, FL 333431
RECENT SALES
28
RECENT SALES MAP
3
4
5
2
6
1
RECENT SALES MAP
Boca Sol Apartments
RECENT SALES
1.
Boca Colony
2.
Camino Palms & Camino Woods
3.
Keith Garden Apartments
4.
Crown Court Apartments
5.
Carriage Walk Apartments
6.
Dunes Apartment Homes
29
PRICE/SF & PRICE/UNIT
AVERAGE PRICE / SF
130.00
120.00
110.00
100.00
90.00
80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
0.00
Average
$85.94
Boca
Colony
Camino Palms
Camino Woods
Keith
Garden
Crown
Court
Carriage
Walk
Dune
Apt
AVERAGE PRICE / UNIT
130.00
120.00
110.00
100.00
90.00
80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
0.00
Average
$87,946
Boca
Colony
Camino Palms
Camino Woods
Keith
Garden
Crown
Court
RECENT SALES
Carriage
Walk
Dune
Apt
30
COMPARABLES
BOCA COLONY
6061 Boca Colony Dr.
Boca Raton, FL 33433
COE: July 2011
No. of Units:
180
Year Built:
1983
Sales Price:
$21,600,000
Price/Unit:
$120,000
Price/SF:
$127.89
UNITS
TYPE
76
1Bdr / 1Bath
76
2Bdr / 2Bath
28
3Bdr / 2Bath
Comments: The property was stabilized and 96% occupied at the time of sale. It was stated that the seller chose to market the property
because the asset was older than what they were comfortable with. The buyer liked the asset primarily for the location. It was stated that
the buyer expects to improved rents by putting roughly $5,000/door into unit upgrades.
CAMINO PALMS – CAMINO WOODS
101 SW 12th Street
Boca Raton, FL 33432
COE: August 2011
No. of Units:
102
Year Built:
1974
Sales Price:
$7,300,000
Price/Unit:
$71,569
Price/SF:
$89.55
UNITS
TYPE
12
Studio / 1Bath
77
1Bdr / 1Bath
8
2Bdr / 1Bath
4
1
2Bdr / 2Bath
3Bdr / 2Bath
UNITS
TYPE
12
1Bdr / 1Bath
12
2Bdr / 1Bath
Comments: This was a sale of two property portfolio.
KEITH GARDEN
1171 NW 15th Ave.
Boca Raton, FL 33486
COE: December 2010
No. of Units:
24
Year Built:
1973
Sales Price:
$1,515,000
Price/Unit:
$63,125
Price/SF:
$77.28
Comments: The buyer did not obtain financing toward the purchase of this property, after placing a down payment for the full amount. The
buyer bought the property with the intention of replacing the roof and repaving the parking lot.
RECENT SALES
31
COMPARABLES
CROWN COURT APARTMENS
1300 NW 15th Ave
Boca Raton, FL 33486
COE: May 2010
No. of Units:
35
Year Built:
1985
Sales Price:
$2,562,450
Price/Unit:
$73,213
Price/SF:
$72.86
UNITS
TYPE
35
2Bdr / 2Bath
Comments: This was part of a 3 property portfolio. This property consists of all two bedrooms, two bath apartments.
CARRAIGE WALK APARTMENTS
1400 NW 13th St.
Boca Raton, FL 33486
COE: May 2010
No. of Units:
38
Year Built:
1987
Sales Price:
$4,671,270
Price/Unit:
$122.928
Price/SF:
$73.55
UNITS
TYPE
16
2Bdr / 2Bath
22
3Bdr / 2Bath
Comments: This was a part of a 3 property portfolio. This property consists of all townhome units.
DUNES APARTMENT HOMES
9410 SW 8th Street
Boca Raton, FL 33428
COE: May 2010
No. of Units:
36
Year Built:
1987
Sales Price:
$2,766,280
Price/Unit:
$76,841
Price/SF:
$74.56
UNITS
TYPE
36
2Bdr / 2Bath
Comments: This was part of a 3 property portfolio. This property consists of all two bedrooms, two bath apartments. The property is on the
9th hole of Boca Dunes Golf Course, located just West of 441 and South of Glades Road. Financing in the amount of $6,570,000 from Freddie
Mac.
RECENT SALES
32
BOCA SOL APARTMENTS
200 N.E. 20 TH STREET
BOCA RATON, FL 333431
RENT COMPARABLES
33
RENT COMPARABLES MAP
1
2
7
6
3
4
5
MAP
Boca Sol Apartments
RENT COMPARABLES
1.
Boca Winds
2.
Boca Manor
3.
The Bicycle Club
4.
Cynthia Gardens Apartments
5.
Keith Garden Apartments
6.
Crown Court Apartments
7.
Country Club Apartments
34
AVERGE OCCUPANCY & RENTS
AVERAGE OCCUPANCY
100
90
Average
94.75%
80
70
60
50
40
30
20
10
0
Subject
1
2
3
4
5
6
7
AVERAGE RENTS-1 BEDROOM
1,100
1,000
900
800
Average
Studio
$764
700
600
Average
1Bedroom
$800
500
400
300
200
Studio
100
0
1Bdr
Subject
1
2
3
4
5
RENT COMPARABLES
6
7
35
AVERAGE RENTS
AVERAGE RENTS- 2 & 3 BEDROOMS
1,500
1,400
1,300
Average
3 Bedroom
$1,295
1,200
1,100
Average
2Bedroom
$1,044
1,000
900
800
700
600
500
400
300
200
100
3Bdr
0
2Bdr
Subject
1
2
3
4
5
RENT COMPARABLES
6
7
36
RENT COMPARABLES
BOCA WINDS
530 NE 47th St.
Boca Raton, FL 33431
No. of Units: 82
Occupancy: 95%
Year Built: 1972
Unit Type
Units
Rent
Studio
15
$764
1 Bdr 1 Bath
37
$843
2 Bdr 1 Bath
30
$1,163
Total / Average
82
$946
Currently offering no concessions. Water, sewer and trash are included in the rent. Amenities include on-site parking, on-site laundry
and central air conditioning.
BOCA MANOR
2500 North Federal Highway
Boca Raton, FL 33431
No. of Units: 85
Occupancy: 95%
Year Built: 1969
Unit Type
Units
Rent
1 Bdr 1 Bath
38
$785
1 Bdr 1.5 Bath
24
$810
2 Bdr 2 Bath
23
$1,050
Total / Average
85
$864
Currently offering no concessions. Water, sewer and trash are included in the rent. Amenities include on-site parking, on-site laundry
and central air conditioning.
THE BICYCLE CLUB
1908 NW 4th Ave.
Boca Raton, FL 33432
Unit Type
No. of Units: 48
Occupancy: 98%
Year Built: 1969
Units
Rent
1 Bdr 1 Bath
$795
2 Bdr 1 Bath
$1,150 - $1,200
3 Bdr 2 Bath
$1,350 - $1,400
Total / Average
48
$1,115
Currently offering no concessions. Water, sewer and trash are included in the rent. Amenities include on-site parking, washer/dryer
hook-up and central air conditioning.
RENT COMPARABLES
37
RENT COMPARABLES
CYNTHIA GARDENS APARTMENTS
1675 NW 4th Ave
Boca Raton, FL 33432
Unit Type
Units
1 Bdr 1 Bath
180
Total / Average
180
Rent
$815 - $865
$840
No. of Units: 181
Occupancy: 95%
Year Built: 1966
Currently offering no concessions. Water, basic cable, sewer and trash are included in the rent. Amenities include on-site parking,
on-site laundry and central air conditioning.
KEITH GARDEN APARTMENS
1171 NW 15th Ave
Boca Raton, FL 33486
Unit Type
Units
Rent
1 Bdr 1 Bath
12
$725
2 Bdr 1 Bath
12
$900
Total / Average
24
$812
No. of Units: 24
Occupancy: 95%
Year Built: 1973
Currently offering no concessions. Water, sewer and trash are included in the rent. Amenities include on-site parking, on-site laundry
and central air conditioning.
CROWN COURT APARTMENTS
1300 NW 15th Ave
Boca Raton, FL 33486
Unit Type
Units
Rent
2 Bdr 2 Bath
35
$1,030
Total / Average
35
$1,030
No. of Units: 35
Occupancy: 90%
Year Built: 1985
Currently offering no concessions. Water, sewer and trash are included in the rent. Amenities include on-site parking, washer/dryer
hook-up and central air conditioning.
RENT COMPARABLES
38
RENT COMPARABLES
COUNTRY CLUB APARTMENTS
1601 NW 13th St
Boca Raton, FL 33486
No. of Units: 84
Occupancy: 95%
Year Built: 1975
Unit Type
Units
Rent
1 Bdr 1 Bath
12
$840
2 Bdr 1 Bath
12
$915-$1,015
2 Bdr 2 Bath
20
$1,015
3 Bdr 2 Bath
40
$1,190
Total / Average
84
$1,074
Currently offering no concessions. Water, sewer and trash are included in the rent. Amenities include on-site parking, on-site laundry
and central air conditioning.
RENT COMPARABLES
39
BOCA SOL APARTMENTS
200 N.E. 20 TH STREET
BOCA RATON, FL 333431
FINANCIAL ANALYSIS
40
UNIT MIX AND UNIT RENT/SF
C
A
E
MGMT OFFICE
D
B
Unit Type
Small 1 Bedroom / 1 Bath
Large 1 Bedroom / 1 Bath
2 Bedroom / 1 Bath
GRAND TOTAL
No. of Units
36
16
38
90
Approx. Sq. Ft.
713
725
855
69,758
Current Rents
$825.00
$850.00
$950.00
Price / SF
$1.16
$1.17
$1.11
BUILDING MAKE UP
Building (A)
18 units
15,536 RSF
1/1 small (4) 1/1 large (4)
2/1 (10)
$900 Average Mo Rent
Building (B)
20 units
15,574 RSF
1/1 small (8) 1/1 large (3)
2/1 (9)
$885 Average Mo Rent
Building (C)
20 units
15,574 RSF
1/1 small (8) 1/1 large (3)
2/1 (9)
$885 Average Mo Rent
Building (D)
20 units
15,574 RSF
1/1 small (8) 1/1 large (3)
2/1 (9)
$885 Average Mo Rent
Building (E)
12 units
8,734 RSF
1/1 small (8) 1/1 large (3)
2/1 (1)
$842 Average Mo Rent
Sales
Management Office: 1,110sqft
42%
40%
1/1 small
1/1 large
18%
2/1
41
ACTUAL 6 YEAR INCOME / EXPENSE
FINANCIAL ANALYSIS
42
ACTUAL 6 YEAR INCOME / EXPENSE
FINANCIAL ANALYSIS
43
RENT ROLL
FINANCIAL ANALYSIS
44
RENT ROLL
FINANCIAL ANALYSIS
45
BOCA SOL APARTMENTS
200 N.E. 20 TH STREET
BOCA RATON, FL 333431
DEMOGRAPHICS
46
DEMOGRAPHIC REPORT
DEMOGRAPHICS
47
SUMMARY REPORT
RADIUS: 5 MILES
Population
In 2010, the population in your selected geography was 231,951. The population has changed by
5.10% since 2000. It is estimated that the population in your area will be 236,020 five years from now,
which represents a change of 1.75% from the current year. The current population is 47.4% male and
52.6% female. The median age of the population in your area is 48.0, compare this to the US average
which is 37.1. The population density in your area is 2,957.46 people \=per square mile.
Households
There are currently 103,573 households in your selected geography. The number of households has
changed by -0.03% since 2000. It is estimated that the number of households in your area will be
103,638 five years from now, which represents a change of 0.06% from the current year. The average
household size in your area is 2.19 persons.
Income
In 2010, the median household income for your selected geography is $60,636, compare this to the
US average which is currently $51,517. The median household income for your area has changed by
23.98% since 2000. It is estimated that the median household income in your area will be $65,277 five
years from now, which represents a change of 7.65% from the current year. The current year per capita income in
your area is $46,088, compare this to the US average, which is $27,867. The current year average household
income in your area is $100,200, compare this to the US average which is $72,148.
Race & Ethnicity
The current year racial makeup of your selected area is as follows: 82.3% White, 11.1% Black, 0.4%
Native American and 1.7% Asian/Pacific Islander. Compare these to US averages which are: 73.52%
White, 12.42% Black, 0.76% Native American and 4.60% Asian/Pacific Islander.
People of Hispanic origin are counted independently of race. People of Hispanic origin make up 13.2%
of the current year population in your selected area. Compare this to the US average of 15.45%.
Housing
The median housing value in your area was $170,302 in 2000, compare this to the $US average of
$115,194 for the same year. In 2000, there were 77,892 owner occupied housing units in your area
and there were 25,716 renter occupied housing units in your area. The median rent at the time was
$799.
Employment
In 2010, there are 189,866 employees in your selected area, this is also known as the daytime
population. The 2000 Census revealed that 72.4% of employees are employed in white-collar
occupations in this geography, and 27.6% are employed in blue-collar occupations. In 2010,
unemployment in this area is 9.60%. In 2000, the median time traveled to work was 19.8 minutes.
DEMOGRAPHICS
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DEMOGRAPHIC MAP
1 MILE
DEMOGRAPHICS
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DEMOGRAPHIC MAP
3 MILE
DEMOGRAPHICS
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DEMOGRAPHIC MAP
5 MILE
DEMOGRAPHICS
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TRAFFIC COUNT MAP
DEMOGRAPHICS
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BOCA SOL APARTMENTS
200 N.E. 20 TH STREET
BOCA RATON, FL 333431
OFFERING MEMORANDUM
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