18
  • 1
  • Bedroom
  • 1
  • Bathroom
  • 504 Sq Ft
  • Area Size
551 Michigan Ave # 223, Miami Beach FL 33139 | Miami-Dade County | A12107402
  • $240,000

Description

Discover an exceptional opportunity to own a piece of Miami Beach in a charming Art Deco building that combines timeless character, valuable improvements, and an unbeatable location! Just blocks from the beautiful beaches of South Beach, this property offers the ultimate coastal lifestyle, surrounded by world-class dining, boutique shopping, entertainment, and the vibrant energy of Miami Beach. What truly sets this property apart are the significant building improvements: a ROOF APPROXIMATELY 3 YEARS OLD, IMPACT-RESISTANT WINDOWS AND DOORS, SUCCESSFULLY COMPLETED 40-YEAR RECERTIFICATION, AND BUILDING INSURANCE IN PLACE. These important features add tremendous value and appeal for today’s buyers. Enjoy the convenience of a highly walkable neighborhood where the beach, charming cafés, and iconic Art Deco architecture are part of everyday life. Perfect as a primary residence, vacation getaway, or investment opportunity, this property offers the chance to enjoy one of South Florida’s most desirable coastal communities. Association has no reserves; financing with 20% down may be possible, subject to lender approval. A fantastic opportunity to embrace the South Beach lifestyle while benefiting from important building upgrades. Schedule your private showing today!

Property Overview

At $240,000, this one-bedroom, one-bath condo at 551 Michigan Ave # 223 offers 504 square feet of living space within the 551/557 Michigan Condo building. Constructed in 1945, the unit is located in Miami Beach, FL 33139, and is part of a sale listing that includes a monthly HOA fee of $581. The property sits in a neighborhood known for its walkability, placing residents within blocks of South Beach. The area provides access to local dining, shopping, and entertainment, allowing for a lifestyle centered around the city's cultural and recreational offerings. The building has undergone recent updates, including a roof installed approximately three years ago and impact-resistant windows and doors. It has also completed a 40-year recertification, and building insurance is currently in place. These structural and safety features are part of the property’s current standing.

Frequently Asked Questions

How many bedrooms and bathrooms does this condo have?

This unit features one bedroom and one full bathroom.

What is the price and monthly HOA fee for this property?

The listing price is $240,000, and the monthly HOA fee is $581.

What major building improvements or safety features are in place?

The building has a roof that is approximately three years old, impact-resistant windows and doors, and has successfully completed a 40-year recertification. Building insurance is also currently in place.

When was this building constructed and what is the living area size?

The building was constructed in 1945, and the unit has a living area of 504 square feet.

What is the specific address of this condo?

The property is located at 551 Michigan Ave # 223, Miami Beach, FL 33139.

Is there additional information available regarding assessments or owner details?

For specific details regarding assessments or other non-public information, please call 305-859-4733.

Monthly Fees & Carrying Costs

Association Fee $581 / month
Total Monthly Fees $581 / month
  • Membership Required: No
  • Application Fee: $150 (one-time)

Have a question about this Miami Beach listing?

Talk directly with Christopher Lazaro, your Miami Beach real estate advisor. No pressure — real answers.

This listing is courtesy of Lifestyle International Realty.

Listing data courtesy of MIAMI Association of REALTORS (RAPB/GFLR) via Bridge Interactive. Copyright SEFMLS © 2026. Accuracy of listing information is not guaranteed. Listing information is provided for personal consumer, non-commercial use, solely to identify potential properties for potential purchase. All other use is strictly prohibited, is a violation of the terms of use, and may violate federal and state law.

  • Address: Michigan Ave
  • City: Miami Beach
  • Zip/Postal Code: 33139

Details

Updated on October 16, 2026 at 1:39 am
  • Property ID A12107402
  • Price $240,000
  • Property Size 504 Sq Ft
  • Bedroom 1
  • Room 0
  • Bathroom 1
  • Year Built 1945
  • Property Status Active, Residential

Additional details

  • View Garden View
  • Cooling Central Air
  • Heating None
  • Tax Year 2025
  • Flooring Ceramic Floor
  • Unit Floor 2
  • Inclusions None
  • Unit Number 223
  • Building 551/557 Michigan Condo
  • Garage Spaces 0
  • Listing Terms All Cash, Conventional
  • Area 551/557 Michigan Condo
  • Total Stories 2
  • Waterfront No
  • Association Yes
  • Full Bathrooms 1
  • Half Bathrooms 0
  • Covered Spaces 0
  • Style Condo 1-4 Stories
  • Private Pool No
  • Structure Type Condo 1-4 Stories, Condo
  • Association Fee 581
  • Parking None, On Street
  • Subdivision 551/557 MICHIGAN CONDO
  • Annual Tax 3487
  • Year Built Details Effective Year Built
  • Building Area 504
  • Lot Size (Sq Ft) 0
  • Flood Zone AE
  • New Construction No
  • Attached Yes
  • Bedroom Features Entry Level
  • Amenities None
  • Restrictions Ok To Lease, Okay To Lease 1st Year
  • Construction Concrete Block Construction
  • Pets Allowed Yes
  • Association Fee Frequency Monthly
  • Association Type Condo
  • Maintenance Includes Insurance, Trash Removal, Water
  • Membership Purchase Required No

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