Real Estate by Fania — Stefania Riverin
(786) 828-0091

$879,500

1881 Washington Ave #5H

3 bd · 2 ba · 1,230 sq ft

139 days on marketCondominium
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Listing courtesy of Luxe Properties. 305-809-7650

From the MLS

Bedrooms
3
Bathrooms
2
Living area
1,230 sq ft
Asking per square foot
$715
Year built
1966
Association fee
$1,600 monthly
ZIP code
33139
MLS number
A11944737

What the listing says

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.

Description supplied by Luxe Properties.

Before you offer on this one

The asking price is the easy part. What decides a Miami condo purchase sits in the association’s budget, its reserve study, the last twelve months of board minutes and the milestone inspection — and in whether the declaration permits what you intend to do with it.

Stefania represents buyers. She does not hold this listing and has no stake in this one selling over any other, which is the position you want the person reading those documents to be in.

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