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1241-1251 W River Dr
Margate, FL 33063 Margate Gardens

$2,770,000 USD

Apartments For Sale • 11,671 SF

Property Details

Property Type Apartments
Total Building Size 11,671 SF
Lot Size 0.71 AC
Building Class C
Year Built 1959
Cap Rate 7.27 %
Zoning R-3

20 Transit Score

50 Walk Score

                
                    Highlights
                
                                Fully Occupied Asset: 100% leased 16-unit property providing immediate and stable cash flow.
                            
                                Attractive In-Place Returns: Strong 7.19% going-in cap rate with reliable income performance.
                            
                                Recent Capital Improvements: New concrete roof installed in 2022, minimizing near-term capital needs.
                            
                                Expansive Lakefront Setting: Situated on a 0.71-acre waterfront parcel with long-term appreciation potential.
                            
                                Compelling Value-Add Opportunity: Renovated units with additional upside through continued interior upgrades and rent growth.

Financial Summary (Actual)

Net Operating Income: $201,311 USD (2025)

Cap Rate:	7.27 %
Total Expenses:	$91,309 USD

Major Tenants

Tenant	SF Occupied	Lease End Date
SAAR - Tropical View Apartments Margate

Public Transportation

Commuter Rail	Drive	Walk	Distance
Pompano Beach (Tri-County Commuter - South Florida Regional Transportation Authority (Tri-Rail))	14 min	-	6.1 mi
Cypress Creek (Tri-County Commuter - South Florida Regional Transportation Authority (Tri-Rail))	13 min	-	7.0 mi
Airport	Drive	Walk	Distance
Fort Lauderdale/Hollywood International	30 min	-	18.0 mi
Palm Beach International	53 min	-	38.0 mi
Miami International	60 min	-	43.8 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	16
Type:	Surface
Included in Rent:	Yes

Elior Levi 954-743-7594 Fausto Commercial Realty Consultants

1241-1251 W River Dr Margate, FL 33063 Margate Gardens