Basic Information

  • MLS # A11944737
  • Type Condominiums
  • Status
  • Subdivision/Complex Octagon Towers I Condo
  • Year Built 1966
  • Total Sqft 1,230
  • Date Listed 01/14/2026
  • Days on Market 79
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.

Amenities

  • Fitness Center
  • Other
  • Pool
  • Sauna
  • Trash
  • Elevators

Exterior Features

  • Waterfront No
  • Pool Yes
  • Exterior Features Other
  • Parking Spaces 1
  • Parking Description One Space

Interior Features

  • Adjusted Sqft 1,230
  • Interior Features Bedroom On Main Level, Closet Cabinetry, French Doors Atrium Doors, Split Bedrooms, Walk In Closets
  • Sqft 1,230

Property Features

  • Aprox. Lot Size 1,230
  • Furnished Info No
  • Short Sale Regular Sale
  • HOA Fees $1,600
  • Subdivision Complex Octagon Tower I Condo
  • Subdivision Info Octagon Towers I Condo
  • Tax Amount $7,858
  • Tax Year 2025

1881 Washington Ave #5H

Miami Beach, FL 33139

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