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1553 Jefferson Ave

Miami Beach, FL, 33139
$1,499,000 · 0 Bed · 0 Bath · 0ft²
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Details

Bedrooms: 0 Bed
Full Baths: 0 Bath
Half Baths: 0 Bath
Property Size: 0ft²
Lot Size:
0ft²
Type of Property: Quadruplex
Garage Spaces: 0
Carport Spaces: 1
Status: Active
Terms Considered: Cash, Conventional
Year Built: 1935
MLS #: A10728418

Property Amenities

Waterfront: No
Pool Description: Cleaning System, Fenced, In Ground, None, Other
Water Description: Public
Floor Description: Hardwood, Marble, Tile, Wood
Construction Type: Block, Stucco

Agent Remarks

1553 Jefferson presents a unique opportunity for the investor or homeowner. The 7500 SF site contains a quadruplex and a residence just steps from Lincoln Road. Potential upside includes;
Significant Vacant Land; Zoning allows a buildout of 9375 SF. Although the 2740 SF quadruplex is designated historic, the residence at rear is undesignated and can be demo'd or augmented for a total additional 6635 SF of new construction. 
Unit Mix; All Quadruplex units are ~700 SF. Two have already 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.

Location