USAFLMargate1-16-1241 W River Dr
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$2,800,000

For Sale

5 hours ago

1-16 - 1241 W River Dr, Margate, FL

House

MLS® A12001683

0 Bed

0 Bath

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  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Commercial Sale
Size -
Garage 
Taxes $46,709
Days Active 0
Lot Size 
Approx. Age 1958
MLS® Number A12001683

Property Address: 1-16-1241 W River Dr, Margate, FL, 33063-3544

Average square foot calculated using Size range provided by listing agent.

Description

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.
MLS® NumberA12001683
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1958
Basement
DrivewayShared Parking
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

May 3, 2026List Date
$2,800,000List Price
  • Commute

Commute

Starting Address
Destination Address
1241 W River Dr, Margate, FL

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