848 Jefferson Ave, Miami Beach, FL 33139

Description of 848 Jefferson Ave, Miami Beach, FL 33139

Excellent opportunity to acquire a 14-unit multifamily investment property in the heart of South Beach, Miami Beach. The property consists of 12 studio apartments and 2 one-bedroom units, generating an actual annual Net Operating Income (NOI) of $98,200, with Potential Gross Income (PGI) of $163,000. The property offers compelling value-add potential through interior renovations and unit reconfigurations. Notably, 10 of the 12 studios feature spacious "junior one-bedroom" layouts, presenting an opportunity to potentially convert these units into true one-bedroom apartments, subject to applicable building requirements and approvals. Combined with strategic interior improvements, these enhancements offer an opportunity to increase rental revenue, strengthen operating performance, and enhance long-term asset value. Ideally located in a highly walkable South Beach neighborhood, residents enjoy convenient access to grocery stores, dining, public transportation, local employment centers, and Flamingo Park, with the world-famous beaches of Miami Beach just a short distance away. This property presents an attractive opportunity for investors seeking an established income-producing multifamily asset with additional upside potential in one of South Florida's most desirable coastal rental markets.

Property Details for 848 Jefferson Ave, Miami Beach, FL 33139

Parking Features

On Street

Pool Private

No

Building Information for 848 Jefferson Ave, Miami Beach, FL 33139

Building Area Total

7660

Building Area Units

Square Feet

Stories

2

Stories Total

2

Association

No

Property Information for 848 Jefferson Ave, Miami Beach, FL 33139

Lot Size Square Feet

7,000

Waterfront

No

View

No

Sewer

Public Sanitation

New Construction

No

Public Records for 848 Jefferson Ave, Miami Beach, FL 33139

Parcel Number

02-42-03-009-6580

Tax Annual Amount

$39,209

Tax Legal Description

OCEAN BEACH ADD NO 3 PB 2-81 LOT 1 BLK 87 LOT SIZE 50.000 X 140 OR 15939-3505 0593 1

Zoning

3900

County Or Parish

Miami-Dade County

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