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Upper Eastside Residences · Render
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DevelopmentReviewed by Tierval

Upper Eastside Residences

Miami, FL

The project

SP Developments is proud to introduce Upper Eastside Residences, a ground-up, Class A- mixed-use development located in Miami's Upper Eastside, with a prime position in the Shorecrest neighborhood. The investment strategy is to develop, stabilize, and sell the asset, while also leveraging Florida's Live Local Act for tax exemptions. The ground floor of the development will feature a mix of amenities, office space, mechanical and service areas, as well as the main lobby, creating a functional and welcoming entry point for residents and visitors. Residential units begin on Level 2 and continue through Level 8, with the building's design centering around comfort and lifestyle. Dedicated amenity spaces on Level 5 will include a fitness center, resident lounge, co-working areas, and pool deck. Residents may also enjoy landscaped courtyards, rooftop decks, and dog parks offering opportunities for outdoor relaxation and connection. SP Developments successfully secured 14 property folios within the designated block through lease-to-purchase agreements. Each property will be leased under triple net leases, generating approximately $180,000 in annual rental income over an 18-month period. During this time, we will be investing $3 million toward pre-development efforts, including architectural design, engineering, permitting, and related soft costs. Upon completion of this phase, the site will be fully entitled and shovel-ready for vertical development. Tucked just off Biscayne Boulevard on NE 86th Street, Upper Eastside Residences offers a rare blend of residential charm and urban convenience. Walkable to everyday essentials like Publix, Walgreens, and neighborhood restaurants, the site also sits within minutes of key lifestyle districts including MiMo, Little River, and Downtown Miami. Its location east of U.S. 1 ensures excellent visibility and seamless east-west connectivity. For investors, the site presents a compelling opportunity to deliver a highly marketable product while achieving attractive returns through a strong IRR and EM. For future renters, it promises a vibrant, well-connected place to call home.

Developer's funded projects

Midtown Weslaco 1Funded
Completed

Midtown Weslaco 1

Weslaco, Texas · Development · 160 units
Results for investors
Golf VistaFunded
Completed

Golf Vista

Atlanta, GA · Development · 200 units
Results for investors
San LorenzoFunded
Completed

San Lorenzo

Miami · Development · 90 units
Results for investors
Gardens ClubFunded
Completed

Gardens Club

Miami · Development · 30 units
Results for investors

Projects and results reported by the developer. Tierval does not verify them or guarantee the figures are accurate. Past results do not guarantee future results.

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What we reviewed

  • Company and partners
  • Background of principal partners
  • Site control
  • Zoning and permits
  • Budget and pro forma

We review that the information and documents are complete. We do not assess the quality of the deal, recommend it or guarantee results. What we review and what we don't →