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818 Jefferson Ave 10 Unit Apartment Building $4,361,175 CAD ($436,118 CAD/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 (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$249,284
|
$53.49
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$249,284
|
$53.49
|
| Taxes |
$46,406
|
$9.96
|
| Operating Expenses |
$18,181
|
$3.90
|
| Total Expenses |
$64,587
|
$13.86
|
| Net Operating Income |
$184,697
|
$39.63
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $249,284 |
| Annual Per SF | $53.49 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $249,284 |
| Annual Per SF | $53.49 |
| Taxes (CAD) | |
|---|---|
| Annual | $46,406 |
| Annual Per SF | $9.96 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $18,181 |
| Annual Per SF | $3.90 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $64,587 |
| Annual Per SF | $13.86 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $184,697 |
| Annual Per SF | $39.63 |
PROPERTY FACTS
| Price | $4,361,175 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $436,118 CAD | 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 | $4,361,175 CAD |
| Price Per Unit | $436,118 CAD |
| 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 | $2,312,607 CAD (2025) |
| Land Assessment | $1,965,264 CAD (2025) | Annual Taxes | $46,406 CAD ($9.96 CAD/SF) |
| Improvements Assessment | $347,344 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
02-4203-009-6610
Land Assessment
$1,965,264 CAD (2025)
Improvements Assessment
$347,344 CAD (2025)
Total Assessment
$2,312,607 CAD (2025)
Annual Taxes
$46,406 CAD ($9.96 CAD/SF)
Tax Year
2024
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818 Jefferson Ave
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