2880 Fairgreen Dr.

Reposition apartments, quarterly income grows

Bayshore duplex on 0.32 acre corner lot: 3BR/3.5BA main plus 2BR/2BA guest house with kitchen.

Value-add strategy on a duplex at 2880 Fairgreen Drive in Miami Beach, Florida, within the Bayshore neighborhood near the Miami Beach Golf Club. The property totals 5 bedrooms and 4 baths across 3,626 square feet (original structure 1933) on a 13,900-sqft (0.32 acre) corner lot. The configuration comprises a primary residence at 3 bedrooms and 3.5 baths alongside a guest house with a separate 2-bedroom, 2-bath unit and full kitchen, producing two functionally independent rental streams on a single parcel. The value-add thesis underwrites unit-level modernization across both dwellings, followed by positioning into the Bayshore rental comparable set with a dual-unit owner-occupant alternative also supported by the layout. The corner-lot geometry and proximity to the golf course support the exit pool. Hold duration is expected to span renovation, stabilization, and a hold-for-yield window, with optional refinance or sale on stabilization. Asking basis of 3.999 million dollars reflects the parcel, structures, and the dual-unit configuration. Capital deployment covers design, permitting, renovation across kitchens, baths, and primary living areas in both units, envelope and systems updates as required given the 1933 construction, landscape refresh, and carry through stabilization. Returns are targeted from the NOI uplift attributable to the repositioning and the valuation effect, with the dual-unit configuration providing optionality on the disposition side.

Address

2880 Fairgreen Dr.

City

Miami Beach, FL

ZIP

33140

Beds

5

Baths

4

Living sqft

3,626

Lot sqft

13,900

Year built

1933

Waterfront

NONE

Value-add economics model using acquisition basis, improvement envelope, maturity, and downside/upside stabilized-value scenarios. Detailed sponsor line items are shown when a full proforma is available.

Source: strategy economics model · figures are forward-looking estimates · not a guarantee of return