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.