USD 1,299,000

1553 Jefferson Ave
Miami Beach, Florida 33139

For Sale

Property Description

1553 Jefferson presents a unique opportunity for the builder or investor. The 7500 SF site contains a Fourplex and a Detached Single Family Home steps from Lincoln Road. Potential upside includes;
Significant Vacant Land; Zoning allows a buildout of 9375 SF. Although the 3,300 SF Fourplex is designated historic, the House at rear is undesignated and can be demo'd or added to for a total additional 6,200 SF of new construction.
Unit Mix; All Fourplex units are ~800 SF. Two have been converted into 2BR units significantly increasing rents and desirability. 2BR rental units are increasingly difficult to find in this area and command a premium price.
Under Market Rents; Rents are currently 25% below market. All MTM. See attached OM for various development scenarios and pro formas.

Listed by The Keyes Company

Property Details

ID #
A10893075
Status
Sale
Type
Commercial, Industrial, Income/Multi-Family 5+
Zip Code
33139
Building Area
3,902ft2
Year Built
1935
Parking Spaces
3
Building Feature
Air Conditioning
Roof Material
Wood shingle roof
Water Source
City/mains water
Septic
City sewer
Construction
Concrete Block Construction
Heating
Wall/Window Units
Lease Term
Month To Month Lease
Location
Central Business District
Occupancy
Call Listing Agent
Road Frontage
City Road
Road Type
Two Lane
Storm Protection
Clear Impact Glass, Complete Panel Shutters/Awnings
Type of Building
Apartments, Residential-Single Family
Utilities
Internet
Zoning Information
3900

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