About This Home
This 3-bedroom, 2-bathroom condo at 1881 Washington Ave #5H in Miami Beach, FL is listed for $879,500 ($715 per sqft). Built in 1966, the home offers 1,230 sqft of living space on a N/A lot.
Key Features
- Built in 1966
Property Details
Amenities
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.
Monthly Cost Estimate
$6,304/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1881 Washington Ave #5H
Miami Beach, FL 33139
OCTAGON TOWERS I CONDO
Features & Amenities
Interior Features
Property Details
Flooring
Construction
Views
Heating
Cooling
Appliances
Questions & Answers
This 3-bedroom, 2-bathroom condo at 1881 Washington Ave is listed at $879,500 ($715/sqft). The estimated monthly payment is $6,304 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance, HOA fees.
HOA fees are $1600/month.
Key features include: Built in 1966. Interior Features: Bedroom on Main Level, Closet Cabinetry, French Door(s)/Atrium Door(s).
This property is listed by Michelle Beatty and can be reached at 3059051517.
