Waterfront property in North Miami. Property consists of 20 value-add units located at 13025-13035 Emerald Drive in North Miami. There is significant rental income upside at the property. In place rents average $1,627 per unit which are notably below market. Market rents average $1,760 per unit, providing over $32,000 in income upside. With a modest value-add upgrade of $10,000 per unit, rents can average $2,000 resenting a total of $90,000 in potential income upside. Adjacent to the property is Mater Academy Biscayne. This tuition free, Charter School serves Grades Kindergarten through High School and is considered one of the best Schools in Miami-Dade. Emerald Apartments is ideally located just west of US1 in North Miami. Whole Foods, Publix, and LA Fitness are all a short walk from the property. The area’s location near to Miami and Fort Lauderdale, retail and entertainment amenities in Aventura, and beach access in Sunny Isles and Hollywood beach make it a convenient destination for renters. This attractive location along with the relative affordability of the market, with average asking rents of $2,149/unit, continues to attract renters. New construction projects in the immediate area include Gardens Residences (358 units), Biscayne Shores (380 units), Aura North Miami Beach (373 units) and Soleste on the Bay (363 units). These projects command notably higher rents and speak to the area growth and desirability. More affordable units are in limited supply and high demand. Market tightness in affordable product, coupled with limited inventory ideally positions Emerald Apartments for value-add improvements and higher rents to be strategically positioned between the old and new product within the submarket. Emerald Apartments represents a rare value-add opportunity to acquire a property and increase revenue through the expiration of below-market leases and continued apartment upgrades, as well as taking full advantage of the projected aggressive rent growth associated with the very positive multifamily fundamentals in the immediate area.