2729 West Marina Drive
Turnkey 2021 Construction | 7-Unit Multifamily
Marketing description
Marina7 is a newer-construction 7-unit multifamily property located in Moses Lake. Built in 2021 across two buildings, the property features modern finishes, efficient operations, and limited near-term capital needs compared to older competing rental stock. Offered at $1.65M, it provides the opportunity for a stable multifamily asset priced at a 6.08% in-place cap rate and a 6.46% proforma cap rate.
The property is well-positioned along Marina Drive facing the waterfront, with select units offering lake-facing views capable of achieving rent premiums. The surrounding area includes newer townhome-style rental product and nearby comparable assets that support both market rents and pricing.
As one of Central Washington's key regional markets, Moses Lake benefits from a diverse employment base, essential services, and continued industrial and population growth.
Investment highlights
Premium Build & Location
Built in 2021 with modern finishes, efficient systems, and a great Marina Drive location facing the lake, select units offer waterfront views capable of achieving rent premiums.
Stable Marina Drive Asset
The 7-unit property is located across two buildings on West Marina Drive, offering a clean, stable rental profile in an established residential pocket of Moses Lake.
Strong Comparable Support
Neighboring assets along West Marina Drive have achieved similar pricing and rental positioning, reinforcing Marina7’s market support and validating demand for newer rentals in the immediate area.
Moses Lake Market
Moses Lake serves as Grant County’s largest city and regional hub for housing, employment, and services, supported by agriculture, aerospace, data centers, and other industrial growth drivers.
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