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$2.8M
Margate, FL 33063
Tropical View Apartments is a beautiful 16-unit multifamily asset located in Margate at 1241–1251 W River Dr, set on a generous 0.71-acre lakefront parcel. The property is comprised of two two-story buildings constructed of concrete block with a stucco finish, featuring four oversized 2-bedroom/1-bath units averaging approximately 1,118 SF and twelve 1-bedroom/1-bath units averaging approximately 600 SF. Originally built in 1958, the asset has been well maintained and includes a newer 2022 concrete roof, with a portion of the units renovated with wood kitchen cabinetry, granite countertops, and ceramic tile flooring, offering a mix of classic structure and updated interiors. The property is 100% occupied and provides a strong 7.19% going-in cap rate, generating immediate and stable cash flow. Conveniently located just west of State Road 7, tenants benefit from quick access to nearby retail and dining such as Coral Square Mall, along with connectivity to the Florida Turnpike and major employment corridors. The combination of full occupancy, recent capital improvements, and a large waterfront lot positions the property well for continued performance with the ability to further enhance returns over time.
Virtual TourListing courtesy of Fausto Commercial Realty Consultants Inc
Listing information is provided by BeachesMLS, Inc.and is deemed reliable but not guaranteed accurate by the MLS or Pure Equity Realty. Information is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. © 2026 BeachesMLS, Inc. Last updated July 1, 2026.
$2.8M
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Listed by Elior Levi, Fausto Commercial Realty Consultants Inc
Cities in Broward County