1553 Jefferson presents a unique opportunity for the investor or homeowner. The 7500 SF site contains a quadruplex and a residence just steps from Lincoln Road. Potential upside includes; Significant Vacant Land; Zoning allows a buildout of 9375 SF. Although the 2740 SF quadruplex is designated historic, the residence at rear is undesignated 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 #A10728418
  • TypeSingle Family Home
  • StatusActive
  • DevelopmentLINCOLN ROAD
  • SubdivisionLINCOLN ROAD
  • Sale TypeRegular Sale
  • Lot Size0
  • Price / Sq.Ft.$0
  • Parking Spaces0
  • Swimming PoolNo
  • Days on Market280
  • Year Built1935
  • StyleQuadruplex
  • WaterfrontNo
  • FurnishedNo
  • Flooring TypeHardwood,Marble,Tile,Wood
  • Date Listed08/23/2019
  • HOA Fees N/A
  • Cooling TypeCeiling Fan(s),Wall/Window Unit(s)
  • Heating Type
  • Taxes Year2018
  • Taxes$23,888

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