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Multifamily

Margate Portfolio

1241 W River Dr, Margate, FL 33063

Listing Price: $5,500,000

Cap Rate
5.16%
Number of Units
40
GRM
10.70
Occupancy
95.0%
Price/Unit
$137,500
Price/Gross SF
$211.45
Gross SF
26,011

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to bring to market the Margate Portfolio, a 40-unit apartment portfolio located in the city of Margate, Florida. The portfolio is situated on a total of 1.30 acres across two parcels located just blocks apart. Located along State Road 7, one of the city's major north/south thoroughfares, the Margate Portfolio is in a high-density neighborhood predominantly consisting of predominantly retail superstores, restaurants and bars for residents to enjoy.

The two-story residential properties were constructed in 1958 and 1974 of concrete block with painted stucco exterior. the properties total 40 units comprised of eight (8) two-bedroom / one-bathroom units, 20 one-bedroom/ one-bathroom units, and 12 studios. One property is located at 1241 W River Dr, Margate, FL and is 16 lakefront units while the other is located at 6000 NW 7th St, Margate, FL and contains 24 units.

Each apartment features wood kitchen cabinets, granite counter tops, ceramic flooring throughout the unit, and wall unit air conditioners. The property features a newer roof, painted exterior, mature landscaping, and updated all of the electrical panels in each of the units.

Investment Highlights

  • Strong Margate Rental Market
  • Located Just Off Of State Road 441 and Atlantic Boulevard
  • Tile Flooring Throughout

Exclusively Listed By

Financing By

Listing Price: $5,500,000

Cap Rate
5.16%
Number of Units
40
GRM
10.70
Occupancy
95.0%
Price/Unit
$137,500
Price/Gross SF
$211.45
Gross SF
26,011

Investment Highlights

  • Strong Margate Rental Market
  • Located Just Off Of State Road 441 and Atlantic Boulevard
  • Tile Flooring Throughout

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to bring to market the Margate Portfolio, a 40-unit apartment portfolio located in the city of Margate, Florida. The portfolio is situated on a total of 1.30 acres across two parcels located just blocks apart. Located along State Road 7, one of the city's major north/south thoroughfares, the Margate Portfolio is in a high-density neighborhood predominantly consisting of predominantly retail superstores, restaurants and bars for residents to enjoy.

The two-story residential properties were constructed in 1958 and 1974 of concrete block with painted stucco exterior. the properties total 40 units comprised of eight (8) two-bedroom / one-bathroom units, 20 one-bedroom/ one-bathroom units, and 12 studios. One property is located at 1241 W River Dr, Margate, FL and is 16 lakefront units while the other is located at 6000 NW 7th St, Margate, FL and contains 24 units.

Each apartment features wood kitchen cabinets, granite counter tops, ceramic flooring throughout the unit, and wall unit air conditioners. The property features a newer roof, painted exterior, mature landscaping, and updated all of the electrical panels in each of the units.

Exclusively Listed By

Financing By

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