Marina Del Rey

Posted: 2/3/2021
108 Units
Want to add this to My Listings (or tell us why you're not interested)?
Log In or Register ...

Photos

Sold
Slideshow Image
Sold
Slideshow Image
Sold
Slideshow Image
Sold
Slideshow Image
Sold
Slideshow Image

About

About Marina Del Rey

Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the opportunity to acquire 100% interest in Marina Del Rey, a 108-unit waterfront value-add opportunity located in Miami Beach, Florida. The property offers over 400 feet on the water with a private boardwalk providing expansive Biscayne Bay views.

None of the units have been upgraded, allowing a new owner tremendous revenue upside with a comprehensive value-add program. Nearby renovated properties are commanding rent premiums providing a future buyer with rent upside of over $350 per unit. For example, the property next door to Marina Del Rey has been renovated with one and two bedrooms rent of $1,650 and $2,300. The current market rents for one and two bedrooms at Marina Del Rey are $1,250 and $1,660 respectively, providing a clear and compelling value add strategy for a new buyer.