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.

Address

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Address: Washington Ave
City: Miami Beach
State/county: Miami-Dade County
Zip/Postal Code: 33139
Area: OCTAGON TOWERS I CONDO

Details

Updated on April 14, 2026 at 3:07 am

Property ID A11944737
Price $879,500
Property Size 1230 Square Feet
Bedrooms 3
Bathrooms 2
Garage 1
Year Built 1966
Type Condominium
Property Status Residential

Additional details

ArchitecturalStyle High Rise
AssociationAmenities Exercise Room, Other, Pool, Sauna, Trash Chute
AssociationFee 1600
AssociationFeeFrequency Monthly
BathroomsFull 2
BathroomsHalf 0
BuildingAreaTotal 1230
BuildingAreaUnits Square Feet
BuildingName Octagon Tower I Condo
ConstructionMaterials Concrete Block Construction
ContractStatusChangeDate 2026-01-14
Cooling Central Air
CoveredSpaces 1
DaysOnMarket 85
DoorFeatures French Doors
EntryLevel 15
ExpirationDate 2027-01-13
Flooring Tile
Heating Central
HighSchool Miami Beach
InternetAddressDisplayYN 1
InternetEntireListingDisplayYN 1
LaundryFeatures Washer/Dryer Hook-Up
ListAOR A-Miami Association of REALTORS
ListAgentDirectPhone 305-905-1517
ListingTerms All Cash, Conventional
LotSizeSquareFeet 0
MLSAreaMajor Octagon Towers I Condo
MajorChangeTimestamp January 19, 2026 at 02:29am
MajorChangeType Back On Market
MiddleOrJuniorSchool Nautilus
MlsStatus Active
ModificationTimestamp April 13, 2026 at 11:13pm
OnMarketDate 2026-01-14
OriginalEntryTimestamp January 14, 2026 at 04:13pm
OriginalListPrice 879000
OriginatingSystemID miamire
OriginatingSystemKey miamire
OriginatingSystemName Miami Association of REALTORS®
OtherExpense 0
ParcelNumber 02-32-34-094-1020
ParkingFeatures 1 Space
PetsAllowed Restrictions Or Possible Restrictions
PhotosChangeTimestamp January 16, 2026 at 12:27am
PhotosCount 30
PostalCodePlus4 7445
PreviousListPrice 879000
PriceChangeTimestamp January 14, 2026 at 04:44pm
PropertyCondition Updated/Remodeled
PublicSurveyRange 32
PublicSurveySection 34
PublicSurveyTownship 32
RoomsTotal 0
SecurityFeatures Fire Sprinklers, Fire Alarm, Smoke Detector, Doorman, Phone Entry, Lobby Secured, Other
ShowingContactType Agent
ShowingInstructions Call Listing Agent
SourceSystemKey 425309242
StateOrProvince FL
StatusChangeTimestamp January 19, 2026 at 02:29am
StoriesTotal 16
StreetName Washington Ave
StreetNumber 1881
StreetNumberNumeric 1881
StructureType Condo 5+ Stories, Condo
SyndicationRemarks 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.
TaxAnnualAmount 7858
TaxLegalDescription OCTAGON TOWERS I CONDO UNIT 5H UNDIV 0.0117034 % INT IN COMMON ELEMENTS OFF REC 16618-3417 OR 21165-0315 0303 1
TaxYear 2025
UnitNumber 5H
View Other View, Skyline
WindowFeatures High Impact Windows, Impact Glass
YearBuiltDetails Resale