The Cushman & Wakefield Multifamily Advisory Group is pleased to present this exclusive offering to purchase the Luna Apartments in Las Vegas, NV. The property is located in the gentrifying Charleston Preservation submarket, in the heart of West Las Vegas and adjacent to the highly affluent Summerlin submarket. The property is directly across from the College of Southern Nevada, which has a yearly rate of 31,000 students enrolled.
ESMI ranked Las Vegas at #2 on their Talent Attraction Scorecard, and Yardi ranked Las Vegas at #3, nationally, for rent growth among major metros. The Charleston Preservation submarket has maintained above-average rent growth through COVID, and the property has also sustained rent growth, month over month, through 2020. Yardi estimates the rent growth to be roughly at a 7.3% YoY change, making it one of the top sub-markets in Las Veas.
Ownership just started the process of implementing a renovation program, leaving plenty of value-add for prospective buyers. We estimate a renovation scope could achieve premiums of roughly $150 or more. Additional renovation options could also include improving private yards, which would allow incoming ownership to achieve an additional premium of roughly $75.
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the MacDonald Building, located in St. Louis, Missouri. This asset is desirably positioned in an Opportunity Zone, at the corner of Washington Avenue and North 18th Street, and in the heart of a developing area just east of the new St. Louis CITY SC MLS Stadium (Delivery 2023).
The property is being offered for sale as a re-development opportunity with Federal and State Historic tax credits and a 10-year abatement secured and in place. As proposed, the property will include 71-units with garage parking and potential for rooftop amenities.
The existing building has been well maintained and can also be purchased as is for office or creative space use.
The Cushman & Wakefield Midwest Multifamily Advisory Group is pleased to present the exclusive listing of Main Street Village, a 400-unit, 2001/2003-built apartment community located in Granger, IN, a high-end area of South Bend.
The acquisition of Main Street Village offers buyers the opportunity to purchase a 2000’s built property in one of the most affluent populations in northern Indiana. The current owner has demonstrated the ability to increase rents through unit upgrades and the current rents are below the nearby competition. With more than 200 units still available to upgrade, a new owner has the ability to continue to increase revenue. Main Street caters well to the high-income population and offers a comprehensive amenity set and a variety of high-end unit finishes. The property is available free and clear.
For access to confidential documents, please register at: mainstreetvillage-cw.com
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.
The Mark at Fishers District, a 260-unit, 2020-built apartment community located in the heart of vibrant and growing Fishers.
The property offers everything high-income dwellers are looking for; walkability to Fishers’ best dining and retail, the most luxurious and comprehensive amenity set, high-end unit finishes, and convenience to employment.
For access to confidential documents, please register at: MarkatFishersDistrict-CW.com