940 Jefferson Ave is under new management with plans to renovate the entirety of the property. The building contains 16 residential apartments comprised of studio and one-bedroom units, with all apartments including central air and a common laundry room on-site. There is a landscaped outdoor garden at the front of the property with a table and seating for tenants to enjoy. 940 Jefferson Ave is situated in South Beach's Flamingo Lummus neighborhood and is central to all that Miami Beach has to offer.

The 36-acre Flamingo Park is across the street, the beach is 8 blocks away, and a neighborhood Whole Foods is a short 5 minute walk from the property. There is also easy access to the city bus stop at Alton Rd & 9th St which is 0.3mi away.