1881 Washington Ave Unit 5H, Miami Beach, FL 33139
$879,500 · Active
MLS #A11944737
- Price
- $879,500
- Status
- Active
- Bedrooms
- 3
- Bathrooms
- 2
- Living area
- 1,230 sq ft
- Home type
- Condominium
- Year built
- 1966
- Full bathrooms
- 2
- Half bathrooms
- 0
- HOA
- Yes
- County
- Miami-Dade County
- Garage spaces
- 1
- HOA fee
- $1,600 · Monthly
- Annual property taxes
- $7,858
- Subdivision
- OCTAGON TOWERS I CONDO
- Style
- "High Rise"
- Appliances & Equipment
- Appliances: Dishwasher, Dryer, Electric Water Heater, Ice Maker, Microwave, Electric Range, Refrigerator, Washer
- Bathrooms
- Full Bathrooms: 2 · Bathrooms Total: 2
- Bedrooms
- Total Bedrooms: 3 · Features: At Least 1 Bedroom Ground Level
- Building
- Living Area: 1230 · Architectural Style: High Rise · Construction Materials: Concrete Block Construction · Year Built: 1966 · Year Built Details: Resale · Building Area Total: 1230 · Building Name: Octagon Tower I Condo · Entry Level: 15 · Structure Type: Condo 5+ Stories, Condo
- Cooling
- Cooling: Central Air
- Exterior Features
- Features: East Of Us1, Other
- Floors
- Flooring: Tile
- Garage
- Garage · Covered Spaces: 1 · Garage Spaces: 1
- Heating
- Heating: Central
- Home Owner's Association
- Fee: $1,600 · Fee Frequency: Monthly · Amenities: Exercise Room, Other, Pool, Sauna, Trash Chute
- Interior Features
- Features: Closet Cabinetry, Fire Sprinklers, French Doors, Split Bedroom, Walk-In Closet(s)
- Laundry
- Features: Washer/Dryer Hook-Up
- Parking
- Features: 1 Space
- Property
- Leasable Area Units: Square Feet · Property Attached · Property Condition: Updated/Remodeled · View · View: Other View, Skyline
- Windows
- Features: High Impact Windows, Impact Glass
- Middle school
- Nautilus
- High school
- Miami Beach
About this home
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.
Courtesy of Luxe Properties.
Schedule A Tour Have a question before touring?Contact LPT Realty at (877) 366-2213 to ask about this home.