$3,200,000118 days on marketActive

422 SW 9th Street, Boca Raton, FL 33432

Boca Raton, FL 33432

Sq Ft

1975

Year Built

0.35 acres

Lot Size

Listing Snapshot

List Price	$3,200,000
Beds	0
Baths	0
Living Area	0 sqft
Lot Size	0.35 acres

Year Built	1975
Property Tax	$18,281/yr
MLS #	1153521243
Status	Active
Days on Market	118

About This Home

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. The one-mile radius features $115,000+ average household income and $600,000+ median home values, supporting strong rental demand and low vacancy.With an irreplaceable East Boca location, below-market rents, large unit sizes suited for repositioning, and long-term ownership stability, Gateway Manor offers a compelling opportunity for near-term rent growth and long-term appreciation.