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$879,500

1881 Washington Ave 5H, Miami Beach, FL 33139

3 beds |
2 baths |
1,230 sqft

Condominium
Built in 1966
—— sqft lot
1 car garage
$715/sqft
Listed 13 days ago

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.

Listing Status:: Active
Date Added:: January 14, 2026 at 06:00AM
Listing Office:: Luxe Properties : 305-809-7650
Listing Agent:: Michelle Beatty : 305-905-1517
MLS ID:: A11944737

General: Closet CabinetryFire SprinklersFrench DoorsSplit BedroomWalk-In Closet(s)
Appliances: DishwasherDryerElectric Water HeaterIce MakerMicrowaveElectric RangeRefrigeratorWasher
Laundry: Washer/Dryer Hook-Up
Flooring: Tile
A/C: Central Air
Heating: Central

General: East Of Us1Other
Style: High Rise
Parking: 1 Space

Windows: High Impact WindowsImpact Glass
General: Concrete Block Construction

HOA Amenities: Exercise RoomOtherPoolSaunaTrash Chute1600.0Monthly
Originating MLS: Miami Association of REALTORS®
County: Miami-Dade County

Zoning: OCTAGON TOWERS I CONDO UNIT 5H UNDIV 0.0117034 % INT IN COMMON ELEMENTS OFF REC 16618-3417 OR 21165-0315 0303 102-32-34-094-1020
View: Other ViewSkyline

Source: Miami Association of REALTORS®

This listing courtesy of Michelle Beatty, Luxe Properties

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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Location

Schools Nearby

Fienberg/Fisher K-8 Center

1420 Washington Ave, Miami Beach, FL, 33139

Grades PK-5

0.60 miles away

Nautilus Middle School

4301 N Michigan Ave, Miami Beach, FL, 33140

Grades 6-8

1.40 miles away

Miami Beach Senior High School

2231 Prairie Ave, Miami Beach, FL, 33139

Grades 9-12

0.34 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.