Multifamily

Evas Garden Apartments

1537 Jefferson Ave, Miami Beach, FL 33139

Listing Price: $2,195,000

Cap Rate
3.87%
Number of Units
12
GRM
13.81
Occupancy
97.0%
Price/Unit
$182,917
Price/Gross SF
$326.20
Gross SF
6,729

Investment Overview

Evas Garden Apartments is a 12-unit, MiMo style apartment building located in the highly desirable Flamingo Park submarket of South Beach. The property is located on Jefferson Avenue, just one block from Lincoln Road and the Flamingo Park sports and recreation complex spanning over four square blocks. Evas Garden offers eight studios and four one-bedroom apartments. There are six interior staircases and each apartment can be accessed by a front and rear door. Some stairwells have painted murals on the walls and colored mosaic tile staircases. Some areas of the exterior are also highlighted with colored mosaic tiling. The building was constructed in 1950 and is situated on a 7,500 square foot lot. Residents are required to pay for electricity, gas and cable, while water and trash removal are included in the rent. There is a central gas hot water heater which the owner maintains. Each apartment has wall unit air-conditioning.

Some apartment interiors have been renovated including new electric panels, kitchens, bathrooms, modern appliances and flooring. Most windows have been replaced with hurricane impact. The building is gated with a tropically landscaped entryway which makes the building very private and there is a large Zen Courtyard with meditation path. Furthermore, there are numerous storage spaces throughout the property which adds management convenience to the property owner.

Evas Garden Apartments is located one block south of the famous Lincoln Road and between Washington Avenue and Alton Road. This central location, with a Walk Score of just under 100, makes it a Walkers Paradise. Residents can access most of the employment areas, beaches, restaurants, bars, nightlife and entertainment and throughout Miami Beach.

Evas Garden Apartments offers an investor the ability to acquire a stabilized property in a highly desirable submarket, with the potential to add value by continuing to renovate apartments and raise rents.

Investment Highlights

  • Mostly hurricane impact windows
  • Gated and private building
  • Flamingo Park Submarket
  • Close proximity to everything
  • Impressive Walk Score of 95
  • Excellent South Beach location

Exclusively Listed By

Listing Price: $2,195,000

Cap Rate
3.87%
Number of Units
12
GRM
13.81
Occupancy
97.0%
Price/Unit
$182,917
Price/Gross SF
$326.20
Gross SF
6,729

Investment Highlights

  • Mostly hurricane impact windows
  • Gated and private building
  • Flamingo Park Submarket
  • Close proximity to everything
  • Impressive Walk Score of 95
  • Excellent South Beach location

Investment Overview

Evas Garden Apartments is a 12-unit, MiMo style apartment building located in the highly desirable Flamingo Park submarket of South Beach. The property is located on Jefferson Avenue, just one block from Lincoln Road and the Flamingo Park sports and recreation complex spanning over four square blocks. Evas Garden offers eight studios and four one-bedroom apartments. There are six interior staircases and each apartment can be accessed by a front and rear door. Some stairwells have painted murals on the walls and colored mosaic tile staircases. Some areas of the exterior are also highlighted with colored mosaic tiling. The building was constructed in 1950 and is situated on a 7,500 square foot lot. Residents are required to pay for electricity, gas and cable, while water and trash removal are included in the rent. There is a central gas hot water heater which the owner maintains. Each apartment has wall unit air-conditioning.

Some apartment interiors have been renovated including new electric panels, kitchens, bathrooms, modern appliances and flooring. Most windows have been replaced with hurricane impact. The building is gated with a tropically landscaped entryway which makes the building very private and there is a large Zen Courtyard with meditation path. Furthermore, there are numerous storage spaces throughout the property which adds management convenience to the property owner.

Evas Garden Apartments is located one block south of the famous Lincoln Road and between Washington Avenue and Alton Road. This central location, with a Walk Score of just under 100, makes it a Walkers Paradise. Residents can access most of the employment areas, beaches, restaurants, bars, nightlife and entertainment and throughout Miami Beach.

Evas Garden Apartments offers an investor the ability to acquire a stabilized property in a highly desirable submarket, with the potential to add value by continuing to renovate apartments and raise rents.

Exclusively Listed By

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