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1241-1251 W River Dr
Margate, FL 33063
Tropical View Apartments · Multifamily Property For Sale
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16 Units
Investment Highlights
- Fully Occupied Asset: 100% leased 16-unit property providing immediate and stable cash flow.
- Recent Capital Improvements: New concrete roof installed in 2022, minimizing near-term capital needs.
- Compelling Value-Add Opportunity: Renovated units with additional upside through continued interior upgrades and rent growth.
- Attractive In-Place Returns: Strong 7.19% going-in cap rate with reliable income performance.
- Expansive Lakefront Setting: Situated on a 0.71-acre waterfront parcel with long-term appreciation potential.
Property Facts
| No. Units | 16 | Building Size | 11,671 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1959 |
| Building Class | C | Parking Ratio | 1.37/1,000 SF |
| Lot Size | 1.00 AC | ||
| Zoning | R-3 - Multifamily Residential | ||
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 11,671 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.37/1,000 SF |
| Zoning | R-3 - Multifamily Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 600 - 700 |
| 2+1 | 4 | - | 892 |
Property Taxes
| Parcel Number | 48-41-25-04-0140 | Improvements Assessment | $2,255,150 |
| Land Assessment | $217,620 | Total Assessment | $2,472,770 |
Property Taxes
Parcel Number
48-41-25-04-0140
Land Assessment
$217,620
Improvements Assessment
$2,255,150
Total Assessment
$2,472,770
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