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818 Jefferson Ave 10 Unit Apartment Building $3,150,000 ($315,000/Unit) 4.23% Cap Rate Miami Beach, FL 33139
INVESTMENT HIGHLIGHTS
- Value-Add Multifamily Investment
EXECUTIVE SUMMARY
PJ Commercial is proud to present 818 Jefferson Ave, a 10-unit value-add multifamily investment opportunity in a prime location. The property comprises eight one-bedroom, one-bath units, and two two-bedroom, one-bath units, all currently leased on a month-to-month basis, providing investors with the flexibility to implement value-enhancing strategies immediately. With significant upside potential, this asset offers a compelling opportunity for investors seeking to maximize returns. Additionally, the building successfully completed its 100-year recertification in 2024, ensuring compliance with current safety and structural standards.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$180,000
|
$38.63
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$180,000
|
$38.63
|
| Taxes |
$33,508
|
$7.19
|
| Operating Expenses |
$13,128
|
$2.82
|
| Total Expenses |
$46,636
|
$10.01
|
| Net Operating Income |
$133,364
|
$28.62
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $180,000 |
| Annual Per SF | $38.63 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $180,000 |
| Annual Per SF | $38.63 |
| Taxes | |
|---|---|
| Annual | $33,508 |
| Annual Per SF | $7.19 |
| Operating Expenses | |
|---|---|
| Annual | $13,128 |
| Annual Per SF | $2.82 |
| Total Expenses | |
|---|---|
| Annual | $46,636 |
| Annual Per SF | $10.01 |
| Net Operating Income | |
|---|---|
| Annual | $133,364 |
| Annual Per SF | $28.62 |
PROPERTY FACTS
| Price | $3,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $315,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.23% | Building Size | 4,660 SF |
| No. Units | 10 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1924 |
| Zoning | RM-1 - RM-1 Contributing structure within the Flamingo Park Historic Preservation District. | ||
| Price | $3,150,000 |
| Price Per Unit | $315,000 |
| Sale Type | Investment |
| Cap Rate | 4.23% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,660 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1924 |
| Zoning | RM-1 - RM-1 Contributing structure within the Flamingo Park Historic Preservation District. |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+1 | 2 | - | - |
1 1
Walk Score®
Walker's Paradise (94)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 02-4203-009-6610 | Total Assessment | $1,647,438 (2025) |
| Land Assessment | $1,400,000 (2025) | Annual Taxes | $33,508 ($7.19/SF) |
| Improvements Assessment | $247,438 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
02-4203-009-6610
Land Assessment
$1,400,000 (2025)
Improvements Assessment
$247,438 (2025)
Total Assessment
$1,647,438 (2025)
Annual Taxes
$33,508 ($7.19/SF)
Tax Year
2024
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818 Jefferson Ave
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