848 Jefferson Ave ,Apartments for Sale & Rent

848 Jefferson Ave for Sale & Rent

Price $3,000,000.00

• Lot size 7660
• Year Build 1939
• Waterfront
• Zip 33139
• Style
• Parking Description On Street
• Pool Yes
• Status Active With Contract

Description

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.

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

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.

City:Miami Beach,Zoning:3900,List A O R:A-Miami Association of REALTORS,Stories:2,Latitude:25.779215,Lease Term:Annual Lease,List Price:3000000,Listing Id:A12112001,Longitude:-80.137645,Mls Status:Active With Contract,Year Built:1939,Inclusions:Equipment,Furniture/Fixtures,Leases,Postal Code:33139,Street Name:Jefferson Ave,Contingency:Pending Inspections,Coordinates:1:25.779215,Photos Count:21,Listing Terms:1:Conventional/Refinance,2:Exchange,3:Owner Will Carry,Lot Size Units:Square Feet,M I A M I R E_ Area:42,On Market Date:2026-10-23,Parcel Number:02-42-03-009-6580,Property Type:Commercial Sale,Stories Total:2,Street Number:848,Open Parking Y N:1,Public Remarks: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.,County Or Parish:Miami-Dade County,Expiration Date:2027-09-24,List Office Name:Cardenas Larocca Real Estate LLC,Standard Status:Active Under Contract,Living Area Units:Square Feet,M I A M I R E_ Last Use:Multifamily,Major Change Type:Active Under Contract,Property Sub Type:Income/MultiFamily,State Or Province:FL,Tax Annual Amount:39209,Unparsed Address:848 Jefferson Ave, Miami Beach FL 33139,Listing Agreement:Exclusive Right To Sell,Building Area Total:7660,Building Area Units:Square Feet,Leasable Area Units:Square Feet,Lease Considered Y N:1,Lot Size Square Feet:7000,M I A M I R E_ Flood Zone:AE,M I A M I R E_ Num Meters:15,Number Of Buildings:1,Original List Price:3000000,Public Survey Range:42,I D X Participation Y N:1,M I A M I R E_ Last Status:Active,M I A M I R E_ N A R Rules Y N:1,M I A M I R E_ Num Toilets:14,Syndication Remarks: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.,Listing Contract Date:2026-10-23,Originating System I D:miamire,Public Survey Section:3,Street Number Numeric:848,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,M I A M I R E_ Current Price:3000000,Public Survey Township:42,M I A M I R E_ Municipal Code:2,Originating System Name:Miami Association of REALTORS®,M I A M I R E_ Internet Remarks:Excellent opportunity to acquire a 14-unit multifamily investment property in the heart of South Beach, Miami Beach. 12 studios and 2 one-bedrooms,M I A M I R E_ Parcel Number M L X:6580,M I A M I R E_ Showing Time Flag:1,M I A M I R E_ Street View Param:1$25.779214$-80.137644$250.85$13.33$1.00$3BvzQY-HPNbRixUHopJy8w,Contract Status Change Date:2026-10-23,Internet Address Display Y N:1,Number Of Units In Community:14,M I A M I R E_ Ok To Advertise List:Yes - Attribution NOT Required,M I A M I R E_ Subdivision Number:9,M I A M I R E_ Agent Alternate Phone:305-562-0631,Internet Entire Listing Display Y N:1,M I A M I R E_ Address Internet Display:848 Jefferson Ave,