1241 W River Dr # 16, Margate FL 33063 | Broward County | A12001683
- $2,800,000
- Sq Ft
1241 W River Dr # 16, Margate FL 33063 | Broward County | A12001683
- $2,800,000
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.
Address
Open on Google Maps-
Address: River Dr
-
City: Margate
-
Zip/Postal Code: 33063
Details
Updated on June 8, 2026 at 2:22 am-
Property ID A12001683
-
Price $2,800,000
-
Year Built 1958
-
Property Status Active
Additional details
-
StreetDirPrefix W
-
LivingAreaUnits Square Feet
-
Flooring Other, Tile, Vinyl
-
PhotosCount 29
-
MIAMIRE_SubdivisionNumber 4
-
WaterfrontFeatures Lake
-
ViewYN No
-
MIAMIRE_NARRulesYN Yes
-
ListingKeyNumeric 455075142
-
MIAMIRE_GeographicArea Other Geographic Area (Out Of Area Only)
-
TaxAnnualAmount 46709
-
AssociationYN No
-
MlsStatus Active
-
StreetNumber 1241
-
ListingKey 907c1fc4d5a7a6f5390219fad7d8b087
-
MIAMIRE_AddressInternetDisplay 1241 W River Dr 1-16
-
Roof Built-Up
-
PoolPrivateYN No
-
ListingTerms All Cash, Conventional/Refinance
-
Possession Funding
-
WaterfrontYN Yes
-
InternetAddressDisplayYN Yes
-
WaterSource Public
-
StoriesTotal 2
-
StreetNumberNumeric 1241
-
ParkingFeatures Shared Parking
-
PostalCodePlus4 3544
-
NumberOfUnitsInCommunity 16
-
MIAMIRE_Area 3850
-
ListingAgreement Exclusive Right To Sell
-
ListingId A12001683
-
BuildingAreaUnits Square Feet
-
InternetEntireListingDisplayYN Yes
-
InternetAutomatedValuationDisplayYN Yes
-
TaxYear 2025
-
ConstructionMaterials Concrete Block Construction
-
InternetConsumerCommentYN Yes
-
BuildingAreaTotal 11671
-
LotSizeUnits Square Feet
-
ListingContractDate 2026-05-02
-
Zoning R-3
-
MIAMIRE_AcreageDescription 1/2+ To 3/4 Acre
-
BusinessType Apartments
-
RoadFrontageType City Street
-
StateOrProvince FL
-
Stories 2
-
SignOnPropertyYN No
-
IDXParticipationYN Yes
-
HorseYN No
-
UnitNumber 1-16
-
LeasableAreaUnits Square Feet
-
Sewer Public Sanitation
-
SyndicationRemarks 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.
-
MIAMIRE_FloodZone AE,X
-
NewConstructionYN No
-
NumberOfBuildings 2
-
Media {"Group":null,"ResourceRecordKey":"907c1fc4d5a7a6f5390219fad7d8b087","MediaModificationTimestamp":"2026-05-03T03:26:55.000Z","ResourceName":null,"MIAMIRE_UploadDate":"2026-04-15T18:54:21.010Z","BridgeModificationTimestamp":"2026-05-03T03:36:17.240Z","SourceSystemName":null,"MIAMIRE_Table_ID":9,"OriginatingSystemMediaKey":null,"MIAMIRE_ProviderModificationTimestamp":null,"OriginatingSystemName":null,"ShortDescription":null,"MediaKey":"b993d56ed3721a701782e30654eade64","ImageWidth":null,"ResourceRecordKeyNumeric":null,"ChangedByMemberID":null,"ChangedByMemberKeyNumeric":null,"ClassName":null,"Permission":[],"MediaType":"Image","id":null,"ResourceRecordID":null,"ModificationTimestamp":"2026-05-03T03:26:55.000Z","ImageOf":null,"MIAMIRE_ParentProviderKey":null,"MediaCategory":null,"ImageSizeDescription":null,"MediaObjectID":null,"MediaStatus":null,"Order":14,"ResizeMediaURL":null,"MediaURL":null,"SourceSystemMediaKey":null,"SourceSystemID":null,"OriginatingSystemID":"miamire","MIAMIRE_ProviderKey":null,"MediaHTML":null,"MIAMIRE_SupplementType":null,"MIAMIRE_OriginalFilename":"1241-1251-W-River-Dr-Margate-FL-Interior-Photo-46-LargeHighDefinition.jpg","PreferredPhotoYN":null,"LongDescription":null,"MediaKeyNumeric":null,"ChangedByMemberKey":null,"ImageHeight":null,"MIAMIRE_IsDeleted":false,"MIAMIRE_Size":336728}, {"Group":null,"ResourceRecordKey":"907c1fc4d5a7a6f5390219fad7d8b087","MediaModificationTimestamp":"2026-05-03T03:26:55.000Z","ResourceName":null,"MIAMIRE_UploadDate":"2026-04-15T18:54:22.760Z","BridgeModificationTimestamp":"2026-05-03T03:36:17.240Z","SourceSystemName":null,"MIAMIRE_Table_ID":9,"OriginatingSystemMediaKey":null,"MIAMIRE_ProviderModificationTimestamp":null,"OriginatingSystemName":null,"ShortDescription":null,"MediaKey":"8ce880b066f9e784a6a584e9304e0f91","ImageWidth":null,"ResourceRecordKeyNumeric":null,"ChangedByMemberID":null,"ChangedByMemberKeyNumeric":null,"ClassName":null,"Permission":[],"MediaType":"Image","id":null,"ResourceRecordID":null,"ModificationTimestamp":"2026-05-03T03:26:55.000Z","ImageOf":null,"MIAMIRE_ParentProviderKey":null,"MediaCategory":null,"ImageSizeDescription":null,"MediaObjectID":null,"MediaStatus":null,"Order":19,"ResizeMediaURL":null,"MediaURL":null,"SourceSystemMediaKey":null,"SourceSystemID":null,"OriginatingSystemID":"miamire","MIAMIRE_ProviderKey":null,"MediaHTML":null,"MIAMIRE_SupplementType":null,"MIAMIRE_OriginalFilename":"1241-1251-W-River-Dr-Margate-FL-Interior-Photo-43-LargeHighDefinition.jpg","PreferredPhotoYN":null,"LongDescription":null,"MediaKeyNumeric":null,"ChangedByMemberKey":null,"ImageHeight":null,"MIAMIRE_IsDeleted":false,"MIAMIRE_Size":345500}, {"Group":null,"ResourceRecordKey":"907c1fc4d5a7a6f5390219fad7d8b087","MediaModificationTimestamp":"2026-05-03T03:26:55.000Z","ResourceName":null,"MIAMIRE_UploadDate":"2026-04-22T15:59:32.610Z","BridgeModificationTimestamp":"2026-05-03T03:36:17.240Z","SourceSystemName":null,"MIAMIRE_Table_ID":9,"OriginatingSystemMediaKey":null,"MIAMIRE_ProviderModificationTimestamp":null,"OriginatingSystemName":null,"ShortDescription":null,"MediaKey":"6ce19c48903a47744e2ac9dd6d3eca7f","ImageWidth":null,"ResourceRecordKeyNumeric":null,"ChangedByMemberID":null,"ChangedByMemberKeyNumeric":null,"ClassName":null,"Permission":[],"MediaType":"Image","id":null,"ResourceRecordID":null,"ModificationTimestamp":"2026-05-03T03:26:55.000Z","ImageOf":null,"MIAMIRE_ParentProviderKey":null,"MediaCategory":null,"ImageSizeDescription":null,"MediaObjectID":null,"MediaStatus":null,"Order":1,"ResizeMediaURL":null,"MediaURL":null,"SourceSystemMediaKey":null,"SourceSystemID":null,"OriginatingSystemID":"miamire","MIAMIRE_ProviderKey":null,"MediaHTML":null,"MIAMIRE_SupplementType":null,"MIAMIRE_OriginalFilename":"Ground Photos-Margate-ELior-3.jpg","PreferredPhotoYN":null,"LongDescription":null,"MediaKeyNumeric":null,"ChangedByMemberKey":null,"ImageHeight":null,"MIAMIRE_IsDeleted":false,"MIAMIRE_Size":707725}, {"Group":null,"ResourceRecordKey":"907c1fc4d5a7a6f5390219fad7d8b087","MediaModificationTimestamp":"2026-05-03T03:27:15.000Z","ResourceName":null,"MIAMIRE_UploadDate":"2026-04-22T15:59:33.240Z","BridgeModificationTimestamp":"2026-05-03T03:36:17.240Z","SourceSystemName":null,"MIAMIRE_Table_ID":9,"OriginatingSystemMediaKey":null,"MIAMIRE_ProviderModificationTimestamp":null,"OriginatingSystemName":null,"ShortDescription":null,"MediaKey":"3a8f283e235ae3dc00d907072018883b","ImageWidth":null,"ResourceRecordKeyNumeric":null,"ChangedByMemberID":null,"ChangedByMemberKeyNumeric":null,"ClassName":null,"Permission":[],"MediaType":"Image","id":null,"ResourceRecordID":null,"ModificationTimestamp":"2026-05-03T03:27:15.000Z","ImageOf":null,"MIAMIRE_ParentProviderKey":null,"MediaCategory":null,"ImageSizeDescription":null,"MediaObjectID":null,"MediaStatus":null,"Order":3,"ResizeMediaURL":null,"MediaURL":null,"SourceSystemMediaKey":null,"SourceSystemID":null,"OriginatingSystemID":"miamire","MIAMIRE_ProviderKey":null,"MediaHTML":null,"MIAMIRE_SupplementType":null,"MIAMIRE_OriginalFilename":"Ground Photos-Margate-ELior-1.jpg","PreferredPhotoYN":null,"LongDescription":null,"MediaKeyNumeric":null,"ChangedByMemberKey":null,"ImageHeight":null,"MIAMIRE_IsDeleted":false,"MIAMIRE_Size":773720}, {"Group":null,"ResourceRecordKey":"907c1fc4d5a7a6f5390219fad7d8b087","MediaModificationTimestamp":"2026-05-03T03:27:15.000Z","ResourceName":null,"MIAMIRE_UploadDate":"2026-04-22T15:59:33.903Z","BridgeModificationTimestamp":"2026-05-03T03:36:17.240Z","SourceSystemName":null,"MIAMIRE_Table_ID":9,"OriginatingSystemMediaKey":null,"MIAMIRE_ProviderModificationTimestamp":null,"OriginatingSystemName":null,"ShortDescription":null,"MediaKey":"a1dcf0c1d953ffdeddf5a6ee452c8ea5","ImageWidth":null,"ResourceRecordKeyNumeric":null,"ChangedByMemberID":null,"ChangedByMemberKeyNumeric":null,"ClassName":null,"Permission":[],"MediaType":"Image","id":null,"ResourceRecordID":null,"ModificationTimestamp":"2026-05-03T03:27:15.000Z","ImageOf":null,"MIAMIRE_ParentProviderKey":null,"MediaCategory":null,"ImageSizeDescription":null,"MediaObjectID":null,"MediaStatus":null,"Order":4,"ResizeMediaURL":null,"MediaURL":null,"SourceSystemMediaKey":null,"SourceSystemID":null,"OriginatingSystemID":"miamire","MIAMIRE_ProviderKey":null,"MediaHTML":null,"MIAMIRE_SupplementType":null,"MIAMIRE_OriginalFilename":"Ground Photos-Margate-ELior-5.jpg","PreferredPhotoYN":null,"LongDescription":null,"MediaKeyNumeric":null,"ChangedByMemberKey":null,"ImageHeight":null,"MIAMIRE_IsDeleted":false,"MIAMIRE_Size":811979}, {"Group":null,"ResourceRecordKey":"907c1fc4d5a7a6f5390219fad7d8b087","MediaModificationTimestamp":"2026-05-03T03:26:55.000Z","ResourceName":null,"MIAMIRE_UploadDate":"2026-04-15T18:54:19.827Z","BridgeModificationTimestamp":"2026-05-03T03:36:17.240Z","SourceSystemName":null,"MIAMIRE_Table_ID":9,"OriginatingSystemMediaKey":null,"MIAMIRE_ProviderModificationTimestamp":null,"OriginatingSystemName":null,"ShortDescription":null,"MediaKey":"5024fd4d447b073d08e40d365c7304b1","ImageWidth":null,"ResourceRecordKeyNumeric":null,"ChangedByMemberID":null,"ChangedByMemberKeyNumeric":null,"ClassName":null,"Permission":[],"MediaType":"Image","id":null,"ResourceRecordID":null,"ModificationTimestamp":"2026-05-03T03:26:55.000Z","ImageOf":null,"MIAMIRE_ParentProviderKey":null,"MediaCategory":null,"ImageSizeDescription":null,"MediaObjectID":null,"MediaStatus":null,"Order":13,"ResizeMediaURL":null,"MediaURL":null,"SourceSystemMediaKey":null,"SourceSystemID":null,"OriginatingSystemID":"miamire","MIAMIRE_ProviderKey":null,"MediaHTML":null,"MIAMIRE_SupplementType":null,"MIAMIRE_OriginalFilename":"1241-1251-W-River-Dr-Margate-FL-Interior-Photo-48-LargeHighDefinition.jpg","PreferredPhotoYN":null,"LongDescription":null,"MediaKeyNumeric":null,"ChangedByMemberKey":null,"ImageHeight":null,"MIAMIRE_IsDeleted":false,"MIAMIRE_Size":360300}, {"Group":null,"ResourceRecordKey":"907c1fc4d5a7a6f5390219fad7d8b087","MediaModificationTimestamp":"2026-05-03T03:26:55.000Z","ResourceName":null,"MIAMIRE_UploadDate":"2026-04-15T18:54:26.103Z","BridgeModificationTimestamp":"2026-05-03T03:36:17.240Z","SourceSystemName":null,"MIAMIRE_Table_ID":9,"OriginatingSystemMediaKey":null,"MIAMIRE_ProviderModificationTimestamp":null,"OriginatingSystemName":null,"ShortDescription":null,"MediaKey":"4ed583219cdc6ef8689b8c385d0431ed","ImageWidth":null,"ResourceRecordKeyNumeric":null,"ChangedByMemberID":null,"ChangedByMemberKeyNumeric":null,"ClassName":null,"Permission":[],"MediaType":"Image","id":null,"ResourceRecordID":null,"ModificationTimestamp":"2026-05-03T03:26:55.000Z","ImageOf":null,"MIAMIRE_ParentProviderKey":null,"MediaCategory":null,"ImageSizeDescription":null,"MediaObjectID":null,"MediaStatus":null,"Order":11,"ResizeMediaURL":null,"MediaURL":null,"SourceSystemMediaKey":null,"SourceSystemID":null,"OriginatingSystemID":"miamire","MIAMIRE_ProviderKey":null,"MediaHTML":null,"MIAMIRE_SupplementType":null,"MIAMIRE_OriginalFilename":"1241-1251-W-River-Dr-Margate-FL-Interior-Photo-33-LargeHighDefinition.jpg","PreferredPhotoYN":null,"LongDescription":null,"MediaKeyNumeric":null,"ChangedByMemberKey":null,"ImageHeight":null,"MIAMIRE_IsDeleted":false,"MIAMIRE_Size":146464}, {"Group":null,"ResourceRecordKey":"907c1fc4d5a7a6f5390219fad7d8b087","MediaModificationTimestamp":"2026-05-03T03:26:55.000Z","ResourceName":null,"MIAMIRE_UploadDate":"2026-04-15T18:54:30.573Z","BridgeModificationTimestamp":"2026-05-03T03:36:17.240Z","SourceSystemName":null,"MIAMIRE_Table_ID":9,"OriginatingSystemMediaKey":null,"MIAMIRE_ProviderModificationTimestamp":null,"OriginatingSystemName":null,"ShortDescription":null,"MediaKey":"fce4f9fb0c18aebdc66526a9284bc1b7","ImageWidth":null,"ResourceRecordKeyNumeric":null,"ChangedByMemberID":null,"ChangedByMemberKeyNumeric":null,"ClassName":null,"Permission":[],"MediaType":"Image","id":null,"ResourceRecordID":null,"ModificationTimestamp":"2026-05-03T03:26:55.000Z","ImageOf":null,"MIAMIRE_ParentProviderKey":null,"MediaCategory":null,"ImageSizeDescription":null,"MediaObjectID":null,"MediaStatus":null,"Order":9,"ResizeMediaURL":null,"MediaURL":null,"SourceSystemMediaKey":null,"SourceSystemID":null,"OriginatingSystemID":"miamire","MIAMIRE_ProviderKey":null,"MediaHTML":null,"MIAMIRE_SupplementType":null,"MIAMIRE_OriginalFilename":"1241-1251-W-River-Dr-Margate-FL-Interior-Photo-18-LargeHighDefinition.jpg","PreferredPhotoYN":null,"LongDescription":null,"MediaKeyNumeric":null,"ChangedByMemberKey":null,"ImageHeight":null,"MIAMIRE_IsDeleted":false,"MIAMIRE_Size":339458}, {"Group":null,"ResourceRecordKey":"907c1fc4d5a7a6f5390219fad7d8b087","MediaModificationTimestamp":"2026-05-03T03:26:55.000Z","ResourceName":null,"MIAMIRE_UploadDate":"2026-04-22T15:59:38.087Z","BridgeModificationTimestamp":"2026-05-03T03:36:17.240Z","SourceSystemName":null,"MIAMIRE_Table_ID":9,"OriginatingSystemMediaKey":null,"MIAMIRE_ProviderModificationTimestamp":null,"OriginatingSystemName":null,"ShortDescription":null,"MediaKey":"cf44824a6615f2b48e270b6e575b0777","ImageWidth":null,"ResourceRecordKeyNumeric":null,"ChangedByMemberID":null,"ChangedByMemberKeyNumeric":null,"ClassName":null,"Permission":[],"MediaType":"Image","id":null,"ResourceRecordID":null,"ModificationTimestamp":"2026-05-03T03:26:55.000Z","ImageOf":null,"MIAMIRE_ParentProviderKey":null,"MediaCategory":null,"ImageSizeDescription":null,"MediaObjectID":null,"MediaStatus":null,"Order":22,"ResizeMediaURL":null,"MediaURL":null,"SourceSystemMediaKey":null,"SourceSystemID":null,"OriginatingSystemID":"miamire","MIAMIRE_ProviderKey":null,"MediaHTML":null,"MIAMIRE_SupplementType":null,"MIAMIRE_OriginalFilename":"1241 W River Dr-Margate-ELior-14.jpg","PreferredPhotoYN":null,"LongDescription":null,"MediaKeyNumeric":null,"ChangedByMemberKey":null,"ImageHeight":null,"MIAMIRE_IsDeleted":false,"MIAMIRE_Size":882001}, {"Group":null,"ResourceRecordKey":"907c1fc4d5a7a6f5390219fad7d8b087","MediaModificationTimestamp":"2026-05-03T03:26:55.000Z","ResourceName":null,"MIAMIRE_UploadDate":"2026-04-22T15:59:38.687Z","BridgeModificationTimestamp":"2026-05-03T03:36:17.240Z","SourceSystemName":null,"MIAMIRE_Table_ID":9,"OriginatingSystemMediaKey":null,"MIAMIRE_ProviderModificationTimestamp":null,"OriginatingSystemName":null,"ShortDescription":null,"MediaKey":"bc9a8ad01f968eb27a2458a01e4f9aba","ImageWidth":null,"ResourceRecordKeyNumeric":null,"ChangedByMemberID":null,"ChangedByMemberKeyNumeric":null,"ClassName":null,"Permission":[],"MediaType":"Image","id":null,"ResourceRecordID":null,"ModificationTimestamp":"2026-05-03T03:26:55.000Z","ImageOf":null,"MIAMIRE_ParentProviderKey":null,"MediaCategory":null,"ImageSizeDescription":null,"MediaObjectID":null,"MediaStatus":null,"Order":23,"ResizeMediaURL":null,"MediaURL":null,"SourceSystemMediaKey":null,"SourceSystemID":null,"OriginatingSystemID":"miamire","MIAMIRE_ProviderKey":null,"MediaHTML":null,"MIAMIRE_SupplementType":null,"MIAMIRE_OriginalFilename":"1241 W River Dr-Margate-ELior-1.jpg","PreferredPhotoYN":null,"LongDescription":null,"MediaKeyNumeric":null,"ChangedByMemberKey":null,"ImageHeight":null,"MIAMIRE_IsDeleted":false,"MIAMIRE_Size":850691}
-
LotFeatures In Residential Area
-
MIAMIRE_OkToAdvertiseList No
-
LotSizeSquareFeet 31089
-
TenantPays Electricity, Other
-
UnparsedAddress 1241 W River Dr # 16, Margate FL 33063
-
MIAMIRE_Blogging Yes
-
FeedTypes IDX
Mortgage Calculator
Monthly
-
Down Payment
-
Loan Amount
-
Monthly Mortgage Payment
-
Property Tax
-
Home Insurance
-
PMI
-
Monthly HOA Fees
