1553 Jefferson presents a unique opportunity for the builder or investor. The 7500 SF site contains a quadruplex and a home just steps from Lincoln Road. Potential upside includes; Significant Vacant Land; Zoning allows a build-out of 9375 SF. Although the 2740 SF quadruplex is designated historic, the residence at rear is un-designated and can be demo'd or augmented for a total additional 6635 SF of new construction. Unit Mix; All Quadruplex units are ~700 SF. Two have already been converted into 2BR units significantly increasing rents and desirability. 2BR rental units are increasingly difficult to find in this area and command a premium price. Under Market Rents; Rents are currently 25% below market. All MTM. See attached OM for various development scenarios and pro formas.

Property Details

  • MLS #A10728218
  • TypeCommercial
  • StatusActive
  • Development
  • Subdivision
  • Sale TypeRegular Sale
  • Approx Lot Size0
  • ParkingCommon
  • Days on Market280
  • Year Built1935
  • StyleMulti Family
  • WaterfrontNo
  • FurnishedNo
  • Flooring Type
  • Date Listed08/23/2019
  • Cooling
  • Heating
  • Taxes Year
  • Taxes$0

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