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About This Property
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 Features
County
Miami-Dade County
Section
34
Area
1230
Subdivision
OCTAGON TOWERS I CONDO
Interior
Closet Cabinetry, Fire Sprinklers, French Doors, Split Bedroom, Walk-In Closet(s)
Cooling
Central Air
Bedrooms
3
Floors
Tile
Full Baths
2
Appliances
Dishwasher, Dryer, Electric Water Heater, Ice Maker, Microwave, Electric Range, Refrigerator, Washer
Heating
Central
Style
High Rise
Garage Spaces
1
Construction/Exterior
Concrete Block Construction
Patio / Deck Description
Exterior
East Of Us1, Other
Has a Pool
Possession
Lot Size in Acres
Water
Sewer
Lot Size in Sq. Ft.
0
Has Waterfront
No
Parking Description
1 Space
View
Other View, Skyline
Has Garage
Yes
Roof/Attic
Senior Community
No
Other Utilities
Property Type
Residential
Pets
Restrictions Or Possible Restrictions
Property SubType 2
Condominium
Tax Year
2025
Year Built
1966
Tax Amount
$7858
APN
NA
Square Feet Source
NA
Map
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