18540 Ocean Mist Drive
About This Property
The Shores has outstanding amenities and is located next to the 860 acre County Park. Available immediately! MOTIVATED seller wants quick sale!!! For more details on the A-rated schools and the Shores, click PUBLIC SCHOOLS
** Walk to A-RATED Sunrise Park Elementary and Eagles Landing Middle Schools. Check out all the special ACADEMIES at A-Rated Olympic Heights High School.
SHORES HOMEOWNERS ASSOCIATION
**The Shores at Boca Raton is a guard-gated community w/clubhouse, state-of-the-art fitness center, heated pool & spa, basketball court, children's playroom and recently expanded tot lot w/covered play area. Lots of tennis players in the Shores enjoy the four courts taking lessons from visiting tennis pros and playing with their friends. Yoga classes,golf club and holiday parties will resume when Covid restrictions end. Some amenities are currently not available due to Covid.
The 860-acre Burt Aaronson South County Regional Park is across from entrance to the community and has amphitheater, nature center, water park, lighted athletic fields, boat launch, dog parks and countless trails to walk and bike. Shores golfers enjoy the nearby Osprey Point 27 Hole Golf Course.
The Shores HOA is fiscally prudent with reserves and an excellent balance sheet. At closing, Buyers make a one-time Capital Contribution to the HOA reserves equal to one-quarter's maintenance. The Shores HOA permits renting in the first year of ownership for a minimum of 365 days and it permits residents to have a maximum of two pets (any size). All Shores Buyers must put down a minimum of 10% if they are obtaining financing. The Shores recently installed a new $400,000 entryway which was paid for from reserves and a small special assessment. That assessment has been fully paid by the Sellers.
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Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
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About Shores at Boca Raton
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017