$1,000,000
$1,299,000
23.0%For more information regarding the value of a property, please contact us for a free consultation.
1,998 SqFt
SOLD DATE : 01/14/2021
Key Details
Sold Price $1,000,000
Property Type Vacant Land
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 1,998 sqft
Price per Sqft $500
Subdivision Lincoln Sub
MLS Listing ID A10893764
Sold Date 01/14/21
HOA Y/N No
Annual Tax Amount $21,386
Tax Year 2019
Contingent Pending Inspections
Lot Size 7,405 Sqft
Acres 0.17
Lot Dimensions 50x150
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
Exterior
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Sewer Available, Trash Collection, Water Available
Waterfront No
Present Use Commercial
Street Surface Paved
Building
Lot Description <1 Acre
Sewer Public Sewer
Water Public
Others
Tax ID 02-32-34-002-1320
Financing Cash
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Bought with The Keyes Company
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