South Beach Multifamily
928 Jefferson Avenue Miami Beach, FL 33139
For Sale
$2,050,000
Eight-unit apartment building with renovated studio and one-bedroom units, including impact windows and remodeled interiors.
Property Size3,900 SF
Price / SF$525.64
Days on Market150
Property Features for 928 Jefferson Avenue
General Information
- Standard status
- Active
- Size
- 3,900 SF
- Property subtype
- Commercial Sale / Multi Family
Building Details
- Year Built
- 1936
Listing Agency:
Opera REI Inc
(954) 225-0243
Listed By:
Valerio Spinaci · License #3314298
(954) 225-0243
Source:
Compass
Added: Feb 23
Changed: Jul 21
Last Checked: Jul 23 at 11:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Opera REI Inc
Investment Insights
Based on property information with market context.
This multifamily property consists of an eight-unit apartment building offering studio and one-bedroom apartments. The building has undergone capital improvements, including impact windows throughout, and all units have been renovated.
Unit updates include fully remodeled one-bedroom interiors with marble flooring and marble bathrooms, along with stainless steel appliances. The property is presented with a stated 100% occupancy rate.
Located at 928 Jefferson Avenue in Miami Beach, the building is described as steps from Flamingo Park and minutes from Lincoln Road, Ocean Drive, and the beach, supporting convenient access to surrounding retail and entertainment areas.
Unit updates include fully remodeled one-bedroom interiors with marble flooring and marble bathrooms, along with stainless steel appliances. The property is presented with a stated 100% occupancy rate.
Located at 928 Jefferson Avenue in Miami Beach, the building is described as steps from Flamingo Park and minutes from Lincoln Road, Ocean Drive, and the beach, supporting convenient access to surrounding retail and entertainment areas.
Key Highlights
- 8‑unit multifamily building built in 1936 with renovated studio and 1‑bedroom apartments
- 100% occupancy reported in the property remarks
- Impact windows throughout
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.2k | $29.28 |
| − Vacancy | −$5.1k | −$1.32 |
| EGI | $109.1k | $27.96 |
| − OpEx | −$49.1k | −$12.58 |
| NOI | $60.0k | $15.38 |
3,900 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$856.8K
$749.7K – $999.7K
NOI $59,979 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,504 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Eight-unit apartment building with renovated studio and one-bedroom units, including impact windows and remodeled interiors.
Where is this apartment building located?
The property is located at 928 Jefferson Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: 8‑unit multifamily building built in 1936 with renovated studio and 1‑bedroom apartments; 100% occupancy reported in the property remarks; Impact windows throughout
