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$879,500

Est. payment - /mo

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3 Beds

2 Baths

1,230 SqFt

Active

1881 Washington Ave #5H Miami Beach, FL 33139

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Sammy Hernandez

sammysellsmiami@gmail.com +1(786) 203-8671

UPDATED:

Key Details

Property Type Condo

Sub Type Condominium

Listing Status Active

Purchase Type For Sale

Square Footage 1,230 sqft

Price per Sqft $715

Subdivision Octagon Towers I Condo

MLS Listing ID A11944737

Style High Rise

Bedrooms 3

Full Baths 2

HOA Fees $1,600/mo

HOA Y/N Yes

Leases Per Year 12

Year Built 1966

Annual Tax Amount $7,858

Tax Year 2025

Property Sub-Type Condominium

Property Description

Great second home located in front of the Miami Beach Convention Center, just two blocks to “Billionaires Beach” which sits at the heart of South Beach and walking distance to Lincoln Road which is undergoing a beautification project (see articles and links below).
The unit is licensed for short term rental. Proforma gross revenue is estimated at $122K to $144K per annum (provided by two professional management firms) which translates to a 10% cap rate. Perfect for those looking to get away and clear their heads and experience a change in venue while maximizing their income.
The unit features hurricane glass windows, gourmet kitchen, large master bedroom with a walking closet, modern spa style bathrooms, and may be purchased furnished.
The Building's leadership is proactive and well managed. As such planned and budgeted its future projects and took the initiative to obtain a loan and have fully funded reserves. In addition, the building has set up the budget for the SIRS requirement and funding.
Ongoing building projects near completion elevator replacement and fire system. Most notable completed projects pool upgrade, electronic tele-entry access, cameras, structural review and repairs. Some future projects include hallway flooring and lobby upgrade.

Location

State FL

County Miami-dade

Community Octagon Towers I Condo

Area 32

Interior

Interior Features Bedroom on Main Level, Closet Cabinetry, French Door(s)/Atrium Door(s), Split Bedrooms, Walk-In Closet(s)

Heating Central

Cooling Central Air

Flooring Tile

Window Features Impact Glass

Appliance Dryer, Dishwasher, Electric Range, Electric Water Heater, Ice Maker, Microwave, Refrigerator, Washer

Laundry Washer Hookup, Dryer Hookup

Exterior

Exterior Feature Other

Garage Spaces 1.0

Pool Association

Amenities Available Fitness Center, Other, Pool, Sauna, Trash, Elevator(s)

View City, Other

Garage Yes

Private Pool Yes

Building

Architectural Style High Rise

Structure Type Block

Schools

Middle Schools Nautilus

High Schools Miami Beach

Others

Pets Allowed Conditional, Yes

HOA Fee Include Common Areas,Maintenance Grounds,Pool(s)

Senior Community No

Restrictions OK To Lease

Tax ID 02-32-34-094-1020

Security Features Door Man,Lobby Secured,Other,Phone Entry,Fire Sprinkler System,Smoke Detector(s)

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Listed As-Is

Pets Allowed Conditional, Yes

Virtual Tour https://www.propertypanorama.com/instaview/mia/A11944737

Miami Association of Realtors (SEFMIAMI MLS)

Listed by Luxe Properties

NEARBY SCHOOL & BUSINESS

+1(786) 203-8671

sammysellsmiami@gmail.com

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