$1,000,000
$1,299,000
23.0%For more information regarding the value of a property, please contact us for a free consultation.
1553 Jefferson Ave Miami Beach, FL 33139
3,902 SqFt
Key Details
Sold Price $1,000,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,902 sqft
Price per Sqft $256
Subdivision Lincoln Sub
MLS Listing ID A10893350
Sold Date 01/14/21
Style Fourplex
Construction Status Effective Year Built
HOA Y/N No
Year Built 1935
Annual Tax Amount $21,386
Tax Year 2019
Contingent Pending Inspections
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 & 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 & pro formas.
Location
State FL
County Miami-dade County
Community Lincoln Sub
Area 32
Interior
Heating Central, Wall Furnace
Cooling Central Air, Wall/Window Unit(s)
Flooring Marble, Wood
Exterior
Pool None
Utilities Available Cable Available
Waterfront No
Roof Type Barrel
Total Parking Spaces 3
Building
Lot Description < 1/4 Acre
Story 2
Sewer Public Sewer
Water Public
Architectural Style Fourplex
Level or Stories Two
Structure Type Block
Construction Status Effective Year Built
Others
Tax ID 02-32-34-002-1320
Acceptable Financing Cash, Conventional, Owner May Carry
Listing Terms Cash, Conventional, Owner May Carry
Financing Cash
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Bought with The Keyes Company