Property Description The Boca Villa Apartments consists of 106 apartments and 10-garage units situated on a 7.23 acre/314,938 square foot parcel built in two separate phases. The first phase consists of 53 units with 40-two bedroom and 13-one-bedroom apartments in 5-two story block and stucco buildings built in 1988 and renovated in 2015. Recent improvements include the exterior of these buildings being painted to match the new construction and in-unit laundry and porcelain tile floors added to over half the units. The second phase is two newly constructed buildings (18 and 35 units) along with ten garages. The 18-unit building is three stories and was completed in October 2024 with 9-three bedrooms renting for $3800, 3-oversized two bedrooms renting for $3200 and 6-two bedrooms renting for $3000 per month. The 35 unit is five stories that is nearing completion with an expected occupancy in February 2025. This building consists of 13-three bedrooms, 1-oversized two bedroom and 21-two bedrooms all to be at the same rent as the 18 unit. The newer construction also includes a new pool and clubhouse which includes a fitness center and function area for the tenants. The pool is oversized and has a large patio area surrounding it with new seating etc. for the tenants. In addition, there are ten new garages which will be rented for $500/month. The entire site has all new irrigation, landscaping including sod and 350 new plantings, new walkways, fencing and paving. There is an opportunity to create a dog park and other amenities for the tenants on the available open space. There is a value add for this property which is in increasing the rents of the units built in the first phase. These rents have been kept below market to maintain occupancy throughout Covid and the construction over the past couple of years. The market rent for the one bedroom should be $2000and $2500 for the two bedrooms. The increase would represent a rent gain of $30,000 per month or $360,000 annually. The current lender would consider lending $28,500,000 at 4.5% over the SOFR rate which would result in a total rate of approximately 9%. This lender could close quickly for the right Buyer. The loan would be a bridge for a Buyer looking to take over the deal immediately with the lender staying on until the deal is stabilized. The subject is situated on a 7.23± acre / 314,938± square foot parcel in the R3B zone. The Palm Beach County Appraiser identifies it as APN 06-43-46-32-37-000-0000. 100 W Hidden Valley Boulevard is located in the Boca Raton area in Boca Raton. Location Description Nestled in the thriving Boca Raton market, the surrounding area offers an enticing blend of vibrant urban conveniences and serene coastal charm. Boca Raton is renowned for its upscale shopping, dining, and cultural attractions, including the Town Center at Boca Raton, Mizner Park, and the Boca Raton Museum of Art. Pristine beaches, such as South Beach Park and Red Reef Park, beckon with their picturesque shorelines and recreational opportunities. The area’s renowned golf courses, upscale resorts, and dynamic nightlife further enhance its allure. With a sophisticated blend of luxury living and leisure, Boca Raton maintains its status as a coveted destination for residents and visitors alike. Highlights Fifty-three newly constructed units comprised of 31 two-bedroom two-bathroom and 22 three-bedroom two-bathroom units. Ten newly constructed garages built on-site for additional income. Brand new club house with exercise area for tenants and pool. Lush landscaping with over 350 new trees and plantings. Construction to be completed January-February 2025. Occupancy by March-April. Upside potential increase of $360,000 annually on existing units