Multifamily

Tropical View Apartments 2

1241 W River Dr, Margate, FL 33063

Listing Price: $2,240,000

Cap Rate
5.47%
Number of Units
16
GRM
10.00
Occupancy
95.0%
Price/Unit
$140,000
Price/Gross SF
$191.93
Gross SF
11,671

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to bring to market Tropical View Apartments II, a 16-unit boutique apartment community located in the city of Margate, Florida. Situated on 0.71 acres on a quiet, well-kept lake just west of State Road 7, one of the citys major north/south thoroughfares, Tropical View Apartments II is in a high-density neighborhood predominantly consisting of retail supercenters, restaurants and bars for residents to enjoy.
The two-story residential property was constructed in 1958 of concrete block with painted stucco exterior. The property contains 16 units comprised of four (4) two-bedroom / one-bathroom units with 1,118 rentable square feet and 12 one-bedroom / one-bathroom units with 600 rentable square feet. Some upgrades to the units include wood kitchen cabinets, granite counter tops and ceramic tile flooring throughout the units.

Investment Highlights

  • Strong Margate Rental Market
  • Located Just Off Of State Road 441 and Atlantic Boulevard
  • Tile Flooring Throughout
  • Clean, Quiet Lakefront Property

Exclusively Listed By

Financing By

Multifamily

Tropical View Apartments 2

Listing Price: $2,240,000

Cap Rate
5.47%
Number of Units
16
GRM
10.00
Occupancy
95.0%
Price/Unit
$140,000
Price/Gross SF
$191.93
Gross SF
11,671

Investment Highlights

  • Strong Margate Rental Market
  • Located Just Off Of State Road 441 and Atlantic Boulevard
  • Tile Flooring Throughout
  • Clean, Quiet Lakefront Property

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to bring to market Tropical View Apartments II, a 16-unit boutique apartment community located in the city of Margate, Florida. Situated on 0.71 acres on a quiet, well-kept lake just west of State Road 7, one of the citys major north/south thoroughfares, Tropical View Apartments II is in a high-density neighborhood predominantly consisting of retail supercenters, restaurants and bars for residents to enjoy.
The two-story residential property was constructed in 1958 of concrete block with painted stucco exterior. The property contains 16 units comprised of four (4) two-bedroom / one-bathroom units with 1,118 rentable square feet and 12 one-bedroom / one-bathroom units with 600 rentable square feet. Some upgrades to the units include wood kitchen cabinets, granite counter tops and ceramic tile flooring throughout the units.

Exclusively Listed By

Financing By

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