Active

1881 Washington Ave #5H

Miami Beach, FL 33139

$879,500 $3,708/Mo

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Overview

Bed

Bath

1,230

Sqft

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 man aged. 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

Property Type : Residential

Price : $879,500

AD Id : 74333770

MLS Id : A11944737

Beds : 3

Living Area Size : 1,230

Year Built : 1966

Garage : 1

County : Miami-Dade

Subdivision: Octagon Towers I Condo

Map

Features

Bedroom Information

Total beds: 3

Bathroom Information

Total Baths: 2 Full Baths: 2

Flooring Information

Tile
Interior Features

BedroomOnMainLevel, ClosetCabinetry, FrenchDoorsAtriumDoors, SplitBedrooms, WalkInClosets

Appliances: Dryer, Dishwasher, ElectricRange, ElectricWaterHeater, IceMaker, Microwave, Refrigerator, Washer

Laundry Features: WasherHookup, DryerHookup

Window Features: ImpactGlass
Heating & Cooling

Has Heating: Yes Heating: Central Has Cooling: Yes Cooling: CentralAir

Building Information

Year Built: 1966

Building Area Total: 1230

Construction Materials: Block

Pool Features: Association

Private Pool: No

View: City, Other

Association Fee Frequency: Monthly
Exterior Features

Exterior Features: Other

Listing Price Information

Listing Price: $879500

Original Price: $879000

Cash, Conventional

Tax Information

Parcel Number: 02-32-34-094-1020 Tax Year: 2025 Annual Tax: $7858 Tax Legal Desc: OCTAGON TOWERS I CONDO UNIT 5H UNDIV 0.0117034 % INT IN COMMON ELEMENTS OFF REC 16618-3417 OR 21165-0315 0303 1

Virtual Tour

Virtual Tour (External Link)

Parking Information

OneSpace

Garage Information

Has Garage: Yes Garage Space: 1 Pets Allowed: Conditional, Yes

Homeowners Association Information

Included Fees: CommonAreas, MaintenanceGrounds, Pools

HOA: $1,600.00

Association Amenities: FitnessCenter, Other, Pool, Sauna, Trash, Elevators

School Information

Elementary School: Junior High School: Nautilus Senior High School: Miami Beach
Location Information

Security Features: DoorMan,LobbySecured,Other,PhoneEntry,FireSprinklerSystem,SmokeDetectors

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Nearby Home Value

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1100 West Ave #510, Miami Beach, FL, 33139	$499,000	1	1	696	696 SqFt
1000 West Ave #1006, Miami Beach, FL, 33139	$295,000	--	1	543	543 SqFt
1004 Pennsylvania Ave #15, Miami Beach, FL, 33139	$225,000	1	1	--
605 Euclid Ave #103, Miami Beach, FL, 33139	$219,500	1	1	440	440 SqFt
626 Meridian Ave #1, Miami Beach, FL, 33139	$429,000	1	1	700	700 SqFt
655 Meridian Ave #2, Miami Beach, FL, 33139	$200,000	--	1	--
1250 Ocean Dr #PH1, Miami Beach, FL, 33139	$5,999,000	4	4	2,789	2,789 SqFt
801 15th Street #102, Miami Beach, FL, 33139	$235,000	1	1	410	410 SqFt
1510 Meridian Ave #12, Miami Beach, FL, 33139	$399,000	2	2	707	707 SqFt
5 Island Ave #6A, Miami Beach, FL, 33139	$475,000	1	2	950	950 SqFt

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ByOwner last updated this listing 06/06/2026 @ 20:08

MLS: A11944737 LISTED BY: Michelle Beatty, Luxe Properties 305-809-7650 SOURCE: SEFMIAMI