Tanglewood Apartments of Boca Raton 325 NW Spanish River Blvd 19 Unit Apartment Building $5,000,000 ($263,158/Unit) 5% Cap Rate Boca Raton, FL 33431

Tanglewood Apartments represents a rare opportunity to acquire a generationally held, boutique garden-style multifamily property that has not been offered to the market in over 47 years. Originally constructed in 1940 by the U.S. Army Corps of Engineers as Building T-249 for the Boca Raton Army Air Field, the property served as a schoolhouse during World War II and remains one of only a limited number of surviving “T-Buildings” from that era. Constructed of concrete block and old-growth Dade County Pine, the asset offers a unique blend of historic character and enduring construction rarely found in South Florida multifamily assets.
The property consists of 18 operating units and 19 total units as recognized by the Property Appraiser, featuring a distinctive unit mix comprised of (1) detached 1-Bedroom | 1-Bath cottage residence, (13) 1-Bedroom | 1-Bath apartments — including (7) loft-style units with vaulted ceilings and skylights — and (4) 2-Bedroom apartments. Unit 6 is currently utilized as an onsite leasing/management office, presenting potential value-add upside through conversion back to a studio or loft-style residential unit.
Tanglewood is further distinguished by its award-winning tropical landscaping and serene, park-like setting centered around an extraordinary mature sea grape canopy complemented by lush native vegetation, banyan specimens, citrus trees, and shaded outdoor gathering areas throughout the property. Residents enjoy a quiet, resort-style environment enhanced by thoughtfully designed seating and outdoor grilling areas rarely replicated in comparable multifamily communities.