1881 Washington Ave # 5H, Miami Beach FL 33139

Description of 1881 Washington Ave # 5H, Miami Beach FL 33139

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.

Property Details for 1881 Washington Ave # 5H, Miami Beach FL 33139

Bathrooms Full

2

Bathrooms Half

0

Interior Features

Closet Cabinetry, Fire Sprinklers, French Doors, Split Bedroom, Walk-In Closet(s)

Appliances

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

Flooring

Tile

Heating

Central

Cooling

Central Air

Architectural Style

High Rise

Garage Spaces

1

Parking Features

1 Space

Pool Private

No

Year Built Details

Resale

Property Condition

Updated/Remodeled

Building Information for 1881 Washington Ave # 5H, Miami Beach FL 33139

Building Name

Octagon Tower I Condo

Building Area Total

1230

Building Area Units

Square Feet

Stories Total

16

Entry Level

15

Association

Yes

Association Fee

$1,600

Association Fee Frequency

Monthly

Association Amenities

Exercise Room, Other, Pool, Sauna, Trash Chute

Pets Allowed

Restrictions Or Possible Restrictions

Security Features

Fire Sprinklers, Fire Alarm, Smoke Detector, Doorman, Phone Entry, Lobby Secured, Other

Property Information for 1881 Washington Ave # 5H, Miami Beach FL 33139

Lot Size Square Feet

0

Waterfront

No

View

Other View, Skyline

Construction Materials

Concrete Block Construction

Exterior Features

East Of Us1, Other

New Construction

No

Public Records for 1881 Washington Ave # 5H, Miami Beach FL 33139

Parcel Number

02-32-34-094-1020

Tax Annual Amount

$7,858

Tax Year

2,025

Tax Legal Description

OCTAGON TOWERS I CONDO UNIT 5H UNDIV 0.0117034 % INT IN COMMON ELEMENTS OFF REC 16618-3417 OR 21165-0315 0303 1

County Or Parish

Miami-Dade County

Schools Near 1881 Washington Ave # 5H, Miami Beach FL 33139

Middle School

Nautilus

High School

Miami Beach

School assignments are provided by the listing and should be independently verified.

Location