1710 Jefferson Ave
- Miami Beach, FL 33139
- $3,400,000
- 0 Bed(s)
- 0 Baths
- 7,500 Sqft.
1535 West Avenue is a 10-unit value-add property located in the heart of South Beach. The property has plans that are at the final stages of approval with the City of Miami Beach to commence a full renovation of the existing 8 units to a 10-unit property. The asset features walkable access to Lincoln Road, the beach, Flamingo Park and many more Miami Beach points of interest.The property currently has 8 units and has plans to renovate to 10 units. The 10 units will total 2 11 and 8 22. The cost to renovate the property is forecasted to be 750k or 75kunit. Upon completion, rents are slated to be 2,750 for 11 and 3,650 for 22 which is in line with similar comparables. After renovations, the NOI is projected to be almost 275,000 which provide a return on cost north of 6.5.
The multiple listing information is provided by the Miami Association of Realtors® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2023-present Miami Association of Realtors®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: CBRE, Inc.. tel: 954-462-5655
Real Estate IDX Powered by: TREMGROUP
The multiple listing information is provided by the Miami Association of Realtors® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2023-present Miami Association of Realtors®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: CBRE, Inc.. tel: 954-462-5655
Real Estate IDX Powered by: TREMGROUP
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