Nathan Holdings is pleased to present the opportunity to invest in well-maintained property in the booming Florida market of Margate. 16 units, Margate Riverside Apartments was built in 1958 and offers desirable qualities such as large units, low-density site plans, and walk-up construction. Current rents at the properties are below new construction in the area, signaling room to raise rents with value-add upgrades by renovations.
The city of Margate has experienced growth in the past 10 years and shows no signs of slowing. Apartment fundamentals in the submarket have been incredibly resilient in the past year despite COVID, with a 4% increase compared to the previous year, a testament to the strength of the market.
*Update: Investment Closed