7241 NE 8th Drive
About This Property
Designed by Bloomfield Builders with interiors by celebrity designer Perla Lichi, this lavish palatial masterpiece welcomes you with towering solid concrete Corinthian columns both outside and within, a grand entry foyer leading to a double winding staircase and expansive open floor plan with marble and wood flooring throughout. This 4 bedroom, 5.5 bath home was built on an auger pile on one of the best prime lots in an enclave of 35 luxury homes on prestigious Boca Harbour Island. You'll have a waterfront lifestyle and the unique luxury of a custom designed and built home perfect for comfort and entertaining. The large living room area with its custom fireplace flows to the formal dining area and the adjacent family room, all accessible to the nearby wet bar with wine cooler. There's also a separate media/entertainment room just off the family area. All rooms feature Venetian plaster and crown molded custom ceilings. Fabulous views are available throughout the main floor, and the rich mahogany built-in furniture accented by the custom drapery further enhances the home. There are 8-zones of Sonos surround sound and a top-of-the-line Lutron Lighting System throughout the home.
The very large domed, custom gourmet kitchen features triple-nose marble countertops, two separate counter prep areas with sinks, stainless steel Kitchenaid, Thermador and Miele appliances, two dishwashers and a pantry.
The upper-level master suite has a beautiful domed ceiling with recessed lighting, built-in custom cabinetry, and walk-in closets. There's a large seating area with views of the water and access to a large stone balcony overlooking the pool. The master bath features a raised Roman tub with Whirlpool spa, a large walk-in shower, and dual vanities and sinks accented with beautiful gold fixtures.
The backyard with its lush tropical landscaping features both an open and covered patio, a salt water and electric heat pump pool with spa, and for the boating enthusiast a seawall with a new dock that is protected in a canal off the intersecting Intracoastal waterway for up to an 80' yacht located on a large turn basin, and you're just minutes from ocean access.
Other amenities and features include impact glass doors and windows throughout, 4-recently replaced zoned A/C units, and an attached 3-car garage. This home is located just minutes from nearby elementary, middle, and high school, as well as upscale shopping and dining in Boca Raton and Palm Beach.
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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.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
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About Boca Harbour Island
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017