Waterford Villas 6954 SW 5th St 116 Unit Apartment Building $26,500,000 ($228,448/Unit) 6.24% Cap Rate Margate, FL 33068

Located in the heart of one of the highest demand rental markets in the US, Waterford Villas offers an enormous value proposition to investors and renters alike. Featuring full concrete-block and stucco construction, renovated units throughout, durable gable roofs, and strong amenities for this property type, Waterford is well-positioned in all ways as a multi-family asset.
Housing demand in South Florida, and indeed the United States, continues to outpace supply. High material and construction costs continue to drive rents on new construction ever higher. As a result, a large portion of the population in these markets are priced out of new, Class A rental housing - they are forced to seek out alternatives offering better value.
These qualified residents invariably turn to pre-existing, well-maintained rental units such as Waterford Villas. In times of recession, these units remain the backbone of the South Florida rental housing market, making them strong investments through all economic environments. Historically, occupancy and demand have remained consistent in this sector at times when Class A properties have suffered much lower occupancy, or have had to offer extreme concessions.
Property insurance rates, previously a major pressure point for investors in Florida over the last 3 years, have started normalizing as of Q4 2024. Reinsurers have begun re-entering the market and rates have softened significantly, particularly on long-standing CBS assets such as Waterford Villas.
In all cases, Waterford Villas offers residents an extremely compelling option for affordable, quality rental housing in such a competitive and high demand market. These single story units offer the feel and accessibility of a single family home at a much lower rental cost to the tenant. As a result, units like these truly make up the backbone of the South Florida rental market.
Waterford Villas is located close to Rock Island Road (see maps and aerials) – a major North-South corridor that directly connects with Florida’s Turnpike and Interstate 95. These units are also a short drive or ride-share from Downtown Fort Lauderdale, Wilton Manors, Oakland Park, The Atlantic Coast Beaches, and much more. Immediately surrounding the complex are several hundred high-value single family homes. A short drive through the surrounding neighborhood shows many well-maintained and valuable homes.
Waterford Villas also offers excellent investment upside. Rent growth in this area is historically strong, and with select additional upgrades and new management strategies, rents can be raised and return further maximized over the ensuing 12-24 months after acquisition.
Prime location, great amenities, durable construction, excellent upside!!