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5261 Northeast 5th Avenue, ...

Gabriela Liebert Acquires SFR In Miami's Morningside Neighborhood For $1.4M
SOLDSingle Family Residence

Gabriela Liebert Acquires SFR In Miami's Morningside Neighborhood For $1.4M

5261 Northeast 5th Avenue, Miami, FL, USA

$1,400,000

$621/SF

Building Size

2,252 SF

Asset Type

Single Family Residence

Closing

Nov 18, 2020

AI

The famed Jetsons' House in Miami's Morningside neighborhood has been sold in an all-cash deal for $1,400,000. The property, located at 5261 NE 5th Ave, is a prime example of true MiMo residential architecture and has been vacant for over a decade. Sitting on a 16,214 SqFt double lot, the property offers ample space for potential expansion. The sale included partially permitted plans for an expansion that would transform the current 2,140 SqFt, 3 bedroom, 3 bathroom home into a 3,281 SqFt, 4 bedroom, 4.5 bathroom residence while maintaining the architectural integrity of the building. It remains uncertain whether the new owners will proceed with the proposed plans or take a different direction.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $1,400,000
  • Address: 5261 NE 5th Avenue, Miami
  • Market: Miami

The sale of the Jetsons' House was facilitated by Ignacio Villanueva of London Foster Realty, who represented the seller, Gonzalo Hedderich. On the buyer's side, Gabriela Liebert was represented by Raphael Hillis of Urban Key Realty Group. The transaction attracted interest from a foreign investor, highlighting the global appeal of this unique property.

Players

Ignacio Villanueva

Broker

$8.2M

vol

2 deals

Broker

Miami Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

11.33%

Cash-on-Cash

-3.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93