Located in the City of Sparks, Nevada, Marina Village offers tenants class ‘A’ amenities, comfortability, and convenience. This property has been recently stabilized, and offers tenants amenities including an elaborate clubhouse, swimming pool and spa, complementary tanning salon, playgrounds, business center, and a wellness/fitness facility. Tenants of Marina Village also have access to 24-hour emergency maintenance, professional on-site management, and the exclusivity of a gated community.
Interior features include decorative moldings, abundant closet space, anchor kitchen island, double kitchen sink, full-size washer and dryers, covered patios and balconies, and in some cases direct access to oversized garages. The Property also provides local convenience with close proximity to employment centers, Interstate 80, fine dining, shops, nearby lake and boat rentals.
LCIP plans to hold the project for 3 to 5 years, and during that hold period, complete interior and exterior unit renovations as well as landscaping enhancements and an increase in size to the project’s clubhouse in an effort to raise rents and increase net operating income (NOI). LCIP intends to hold the asset for up to 5 years and then sell the project.