The Terrace 5
Unit 5
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The Terrace Unit 5 For Sale
$599,000
945 Michigan Avenue 5 · Ocean Drive · Miami Beach
945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 1 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 2 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 3 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 4 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 5 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 6 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 7 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 8 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 9 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 10 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 11 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 12 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 13 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 14 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 15 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 16 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 17 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 18 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 19 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 20 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 21 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 22 of 23945 Michigan Avenue 5, 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139, photo 23 of 23
$599,000Asking Price
$614Per SqFt
2/2Beds/BathsBd/Ba
976SqFt · 90.7 m²
The Terrace · MLS A12029487 · 107 days on Zilbert · Listed Jun 2, 2026 · 945 Michigan Avenue 5, Ocean Drive, Miami Beach FL 33139Current layoutPhotos first

Property Details

Asking Price$599,000
Price per SqFt$614
Maintenance fee$1,456 Monthly
Property Taxes$6,685 2025
Interior Space976 SqFt
Beds/Baths2/2
Year Built2007
MLS #A12029487

Estimated Costs

An estimate of condo or HOA fees and property taxes

Monthly carry, before financing
$1,456maintenance · $1,456 per month
$557taxes · $6,685/yr ÷ 12
$2,013 / monthassociation + taxes, before mortgage and insurance

Fees and taxes based on MLS provided figures, and may not be accurate

From the listing

This condo it is rented till August 2027. Amazing Opportunity in Miami Beach!Why should I buy this condo? Rare chance to own one of the best values currently available in the area. Built in 2007, this newer boutique building offers features that are difficult to find at this price point.Association requirements are buyer-friendly with no minimum credit score requirement, no income verification requirement, and no minimum down payment requirement imposed by the association. Unlike many buildings in the area, you don't need a large down payment to buy. Qualified buyers may finance with as little as 3%-5% down, potentially saving tens of thousands of dollars compared to condos requiring 20%-25% or more down. Many condos in the same price range are located in much older buildings dating back to the 1950s, while this property combines modern construction with extensive recent building improvements.The building features assigned indoor parking, two beautiful rooftop terraces, impact windows and doors, and has recently completed major upgrades including building recertification/inspection, concrete restoration work, new roof, and a complete interior and exterior repainting.Inside, the unit has been updated with brand-new flooring in both bedrooms, a new A/C unit, and includes a washer, dryer, dishwasher, and more. Spacious layout, modern construction, and a prime Miami Beach location make this an exceptional value ! Schedule your showing today.

Listed by VantaSure Realty LLC

Sales History for This Home · The Terrace Unit 5

Sales history is unavailable for this property

Mark Zilbert
Mark Zilbert
Licensed Real Estate Broker · I track every sale at The Terrace. Ask me about this home or the neighborhood.
+1 (786) 280-0201

Listed by VantaSure Realty LLC. Mark Zilbert of ONE Sotheby's International Realty is a cooperating (transaction) broker and helps buyers find properties in Miami Beach and throughout South Florida.

Location

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The curated data and calculated data for this property and its surrounding condo units and homes is based solely on data we have extracted from the MLS. There may be unpublished, private, quit claim and other property offerings and transfers that do not appear here, which may affect how a buyer or seller perceives property values. Always conduct proper due diligence when considering buying or selling property.