1553 Jefferson Ave

    Miami Beach, FL 33139
    • $1,499,000
    • STATUS: Active
    • ON SITE: 184 days
    • MLS #: A10728418
    $1,499,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1935
    County:
    Area:

    School Ratings & Info

    Description

    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.

    Monthly Payment Calculator



    Copyright 2020, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. The data relating to real estate for sale on this web site comes in part from the participating Associations/MLS’s in the Southeast Florida Regional Multiple Listing Service cooperative agreement, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2020, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. Use of search facilities of data on the site, other than a consumer looking to purchase real estate, is prohibited. Data last updated 2020-02-23T23:41:39.683.
    www.castellihomes.com/homes/98241026

    1553 Jefferson Ave Miami Beach, FL 33139

    • Price: $1,499,000
    • Status: Active
    • MLS #: A10728418
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1935
    Built
    Neighborhood:
    Lincoln Road
    County:
    Miami-Dade
    Area:
    Lincoln Road
    Property Description
    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.
    Exterior Features

    Architectural Style Detached Construction Materials Cbs ConstructionSlab ConstructionStucco Lot Features Less Than 1/4 Acre Lot Parking Total 5 Pool Features Automatic ChlorinationAuto Pool CleanIn GroundFenced Pool Private YN No Roof Barrel Roof Waterfront YN No

    Interior Features

    Adjusted Square Footage 5900 Cooling Ceiling Fan(S)Paddle FansWall/Window Unit(S) Flooring MarbleTileWood Heating Window/Wall Interior Features Stairs Stories Total 2

    Property Features

    Association YN No Building Name Lincoln Road Cooling YN Yes Documents Available Investment AnalysisOther Available InformationRent RollsExisting Survey Heating YN Yes Horse YN No Internet Address Display YN Yes Internet Automated Valuation Display YN Yes Internet Entire Listing Display YN Yes Listing Terms All CashConventional New Construction YN No Property Condition Substantially Remodeled Property Sub Type Quadruplex Public Survey Section 34 Rent Includes GardenerPest ControlSewerTrash CollectionWater Senior Community YN No Sewer Public Sewer Tax Annual Amount 23888 Tax Year 2018 Water Source Municipal Water Year Built Details Effective Year Built

    Listing courtesy of The Keyes Company.


    Copyright 2020, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. The data relating to real estate for sale on this web site comes in part from the participating Associations/MLS’s in the Southeast Florida Regional Multiple Listing Service cooperative agreement, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2020, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. Use of search facilities of data on the site, other than a consumer looking to purchase real estate, is prohibited. Data last updated 2020-02-23T23:41:39.683.
     
    Castelli Real Estate Services
    2227 Wilton Drive
    Fort Lauderdale FL, 33305