1241 River Dr #1-16 ,Apartments en Venta & Alquilar

1241 River Dr #1-16 en Venta & Alquilar

Precio $2,800,000.00

• Tamaño de lote 31089
• Año de construcción 1958
• Frente al agua Lake
• Zip 33063
• Estilo
• Parking Descripción Shared Parking
• Piscina Yes
• Estado Active

Descripción

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.

MARGATE 3RD ADD-RESUB OF POR 47-25 B LOT 1,2 BLK Y

In Residential Area

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.

City:Margate,Zoning:R-3,List A O R:A-Miami Association of REALTORS,Stories:2,Tax Year:2025,Flooring:1:Tile,2:Vinyl,Latitude:26.2435811,List Price:2800000,Listing Id:A12001683,Longitude:-80.2089978,Mls Status:Active,Year Built:1958,Postal Code:33063,Street Name:River Dr,Tenant Pays:1:Other,Unit Number:1-16,Coordinates:1:26.2435811,Photos Count:29,Days On Market:1,Listing Terms:1:Conventional/Refinance,Lot Size Acres:0.71,Lot Size Units:Square Feet,M I A M I R E_ Area:3850,On Market Date:2026-05-02,Parcel Number:484125040140,Property Type:Commercial Sale,Stories Total:2,Street Number:1241,Waterfront Y N:1,Public Remarks: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.,County Or Parish:Broward County,Expiration Date:2026-10-15,List Office Name:Fausto Commercial Realty Consultants Inc,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:3544,Property Sub Type:Income/MultiFamily,State Or Province:FL,Street Dir Prefix:W,Tax Annual Amount:46709,Unparsed Address:1241 W River Dr # 16, Margate FL 33063,Listing Agreement:Exclusive Right To Sell,M I A M I R E_ Blogging:1,Building Area Total:11671,Building Area Units:Square Feet,Leasable Area Units:Square Feet,Lot Size Square Feet:31089,M I A M I R E_ Flood Zone:AE,X,Number Of Buildings:2,Original List Price:2800000,Public Survey Range:48,I D X Participation Y N:1,M I A M I R E_ N A R Rules Y N:1,Syndication Remarks: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.,Listing Contract Date:2026-05-02,Originating System I D:miamire,Public Survey Section:25,Showing Instructions:Call Listing Agent,Street Number Numeric:1241,Tax Legal Description:MARGATE 3RD ADD-RESUB OF POR 47-25 B LOT 1,2 BLK Y,M I A M I R E_ Current Price:2800000,Public Survey Township:48,Originating System Name:Miami Association of REALTORS®,M I A M I R E_ Geographic Area:Other Geographic Area (Out Of Area Only),M I A M I R E_ Internet Remarks:Please visit Fausto Commercial Realty Consultants Inc.,M I A M I R E_ Parcel Number M L X:0140,M I A M I R E_ Street View Param:1$26.243492$-80.208984$230.32$13.33$1.00$Uy2VSL5IWXtF0l3024UrPA,Contract Status Change Date:2026-05-02,Internet Address Display Y N:1,Number Of Units In Community:16,Internet Consumer Comment Y N:1,M I A M I R E_ Ok To Advertise List:No,M I A M I R E_ Subdivision Number:4,M I A M I R E_ Acreage Description:1/2+ To 3/4 Acre,M I A M I R E_ Agent Alternate Phone:954-743-7594,Internet Entire Listing Display Y N:1,M I A M I R E_ Address Internet Display:1241 W River Dr 1-16,M I A M I R E_ Multiple Offers Accepted Y N:1,Internet Automated Valuation Display Y N:1,