lit. a pavilion near the water (idiom); fig. using one's proximity to
近 · 7 strokes
Phonosemantic compound. 辶 represents the meaning and 斤 represents the sound.
水 · 4 strokes
Depicts the flow of water in a river.
楼 · 13 strokes
Phonosemantic compound. 木 represents the meaning and 娄 represents the sound. Simplified form of 樓.
台 · 5 strokes
Originally 台 and 㠯 were pronounced the same and thus written the same. Later 口 was added to distinguish the characters.
他住得离学校最近，近水楼台先得月。
He lives closest to the school, so he's in a favorable position.