Tropical View Apartments Margate

16 Unit Apartment Building | $2,900,000 ($181,250/Unit) | 6.20% Cap Rate | Margate, FL 33063

Date Added:
May 17, 2024
Days on Market:
28 days

Asking Price $2,900,000

Property Type
Multifamily
Square Feet
11,671 SF

Listing Contacts

Daniel Cunningham
Daniel Cunningham
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Evan Richardson
Evan Richardson
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Dillon Majeski
Dillon Majeski
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River Rhoads
River Rhoads
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  • Property Info

Property Overview

Marcus & Millichap, as exclusive listing agent, is pleased to bring to market Tropical View Apartments II, a 16-unit boutique apartment community located in the city of Margate, Florida. Situated on 0.71 acres on a quiet, well-kept lake just west of State Road 7, one of the city’s major north/south thoroughfares, Tropical View Apartments II is in a high-density neighborhood predominantly consisting of retail supercenters, restaurants and bars for residents to enjoy.
The two-story residential property was constructed in 1958 of concrete block with painted stucco exterior. The property contains 16 units comprised of four (4) two-bedroom / one-bathroom units with 1,118 rentable square feet and 12 one-bedroom / one-bathroom units with 600 rentable square feet. Some upgrades to the units include wood kitchen cabinets, granite counter tops and ceramic tile flooring throughout the units.

Property Details

Class
C
Year Built
1959
Stories
2
Lot Size (sq. ft)
30,928 SF
Units
16

Highlights

  • Strong Margate Rental Market
  • Located Just Off Of State Road 441 and Atlantic Boulevard
  • Tile Flooring Throughout
  • Clean, Quiet Lakefront Property

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