Real Estate Statistics
| Average Price | $725K |
|---|---|
| Lowest Price | $675K |
| Highest Price | $775K |
| Total Listings | 2 |
| Avg. Price/SQFT | $418 |
Property Types (active listings)
University
More About University
University is another one of those single family home neighborhoods here in East Boca Raton that I think offers great value for its location.
It's located east of Interstate 95, just west of Northwest second ave, south of Yamato Road and north of Spanish River Boulevard. It's an extremely walkable neighborhood. It's right next to a retail plaza with a Panera Bread and a CVS.
It's about one mile to Publix. It's also about two miles to Spanish River Park and Beach, which is a huge value add. There's a handful of cool lunch restaurants really close by, such as The Cuban Cafe. Another is Talia's Tuscan table. The D'best Sandwich Shop is awesome and definitely worth checking out. And then there's a brewing company called Prosperity Brewing.
Another great advantage of this neighborhood is, again, its location. If you're right in between two major exits here for 95 Yamato and Spanish River, so you can quickly access 95 and get anywhere you want in South Florida very efficiently, such as the airports, which are about 30 minutes away. Whether you're going West Palm Beach or Fort Lauderdale.
It's also right in the middle of the two major downtowns here in our area. It's 10 minutes to Mizner Park in Boca Raton, and it's about 10-15 minutes to Atlantic Ave in Delray Beach.
University is located in an A-rated school district. J.C. Mitchell is the elementary school, Boca Raton Community Middle is the middle school and Boca Community High is the high school.
There's about 184 homes located in the neighborhood of university, and they were built between 1958 and 1976.
The typical size of a home in university will range between 1,000 - 2,300 square feet. Most homes will have between two and five bedrooms with the average being about three. Every home I've been in has basically had two or three bathrooms. The average lot size will range between 7,500 and 16,000 square feet. And every home I've been in has been a concrete block in this neighborhood.
And some homes will have carports. Some will have garages and some won't have a carport or a garage.
Another thing to highlight about this neighborhood, and this is one reason why a lot of people love this neighborhood, is that there's no HOA.
There's a handful of single family home neighborhoods here in East Boca Raton that I think are great investments for the long term. And university is definitely on that list.
So the neighborhood of university is right next to some of the major universities here in Boca Raton. There's Florida Atlantic University and Lynn University. You can walk to Florida Atlantic University from the neighborhood of University, which is huge. So if you're an investor and you're looking to buy a rental property, this neighborhood is great because you will likely always have a great demand from students and professors and other people associated with the university.
This neighborhood is also one of the cheaper, more cost-effective single family home neighborhoods to buy into here in East Boca Raton. Which is why I think there is a good opportunity to invest here. Whether you're going to move in and live as your primary residence or if you're an investor and you're going to rent out the property.
Another long term selling point from my perspective, is that Penn-Florida owns the property directly to the west of University and east of I-95, and they have some really cool plans to develop that area. They've been working on this for some time, so who knows how long it's going to take before this actually gets done. But I think when the project is complete, this will be a big value add for the neighborhood because there are going to be a lot of retail and really cool shops in that area.
Penn-Florida intends to build 829 residential units, including lofts, apartments and assisted living facilities. A 183-unit hotel, 70,000 square feet of office space, a 130,000 square feet of retail on the ground floor of the residential units, and an extensive network of jogging, biking and walking paths.