- MLS® #: A12001683
- 1241 W River Dr 1-16
- Margate, FL 33063-3544
- $2,800,000
- 0.71 Acres
- Business
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.
View Virtual TourEssential Information
- MLS® #A12001683
- Price$2,800,000
- CAD Dollar$3,980,810
- UK Pound£2,091,065
- Euro€2,448,186
- Bathrooms0.00
- Acres0.71
- Year Built1958
- TypeBusiness
- Sub-TypeMulti Family
- StatusPending
Community Information
- Address1241 W River Dr 1-16
- Area3850
- CityMargate
- CountyBroward
- StateFL
- Zip Code33063-3544
Amenities
- ParkingCommon
- WaterfrontLake Front
Interior
- InteriorOther, Tile, Vinyl
- # of Stories2
- StoriesTwo
Exterior
- RoofBuilt-Up
- ConstructionBlock
- Office: Fausto Commercial Realty Consultants Inc
1241 W River Dr 1-16 on www.jupiteroceanfronthomes.us
Offered at the current list price of $2,800,000, this home for sale at 1241 W River Dr 1-16 features bedrooms and 0 bathrooms. This real estate listing is located in of Margate, FL 33063-3544 . 1241 W River Dr 1-16 is listed under the MLS ID of A12001683 and has been on the Margate real estate market for 51 days.The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the REALTOR® Association of Greater Miami and the Beaches, and is updated as of July 7th, 2026 at 10:45am CDT (date/time).
All information is deemed reliable but not guaranteed by the MLS and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Waterfront Properties and Club Communities shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. © 2026 MLS of RAMB.
The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing