Octagon Towers I Condo Apt 5H For Sale
1881 Washington Ave Apt 5H, Miami Beach, FL 33139
1,230 SqFt.
3 Bedrooms
2 BathsProperty 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.
Listed by Luxe Properties
The MLS data provided for the property above (MLS#A11944737) is provided courtesy of Zilbert.com. Source: Southeast FloridaMLS. Data updated 5/1/2026. Mark Zilbert is a member of the Zilbert Network and is licensed with Zilbert as a cooperating broker or cooperating agent and may not be the listing agent for this property. Information is deemed reliable but not guaranteed. The listing data on this page comes from the Miami Association of Realtors. All rights reserved. The information being provided is for consumer personal, non-commercial use. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.
