Property Details
| Sold Price | $2,626,000 |
|---|---|
| Last Asking Price | $2,800,000 |
| Price per SqFt | — |
| Maintenance fee | Inquire |
| Property Taxes | $46,709 2025 |
| Interior Space | — |
| Beds/Baths | —/— |
| Year Built | 1958 |
| Lot Size | 0.71 acres |
| Closed Date | 7/13/2026 |
| MLS # | A12001683 |
Estimated Costs
An estimate of condo or HOA fees and property taxes
Monthly carry is not computed when the association fee or the taxes are not provided.
From the listing
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.
Listed by Fausto Commercial Realty Consultants Inc
Sales History for This Home · 1241 W River Drive 1-16, Margate, FL 33063
Sales history is unavailable for this property
Listed by Fausto Commercial Realty Consultants Inc. Mark Zilbert of ONE Sotheby's International Realty is a cooperating (transaction) broker and helps buyers find properties in Margate and throughout South Florida.
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Location
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