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$599,000
945 Michigan Avenue 5
Miami Beach, FL 33139
MLS# A12029487
2 beds  |  2 baths  |  976 sqft


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Property Description
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.

Details
Maps
Contract Information
Comp Sale YN: No
Occupant Type: Tenant
Listing Date: 2026-06-02
Status: Active
Original List Price: 599000
List Price: $599,000
Current Price: $599,000
Location and Legal
County Or Parish: Miami-Dade
County Parish Name: Miami-Dade
City Name: Miami Beach
Municipal Code: 2
Postal Zip: 33139
Subdivision Number: 336
Special Assessment YN: Yes
Flood Zone: AE
Country: United States
Street Number: 945
Street Name: Michigan
Street Suffix: Avenue
Unit Number: 5
State Or Province: FL
Postal Code: 33139
Postal Code +4: 5387
Subdivision Name: THE TERRACE CONDO
Area: 2420
Elementary School: Miami Beach Fienberg / Fisher K-8
High School: Miami Beach
Parcel Number: 0242033360050
General Property Information
Total Units In Building: 8
Unit Floor #: 3
Adjusted Area Main: 976
Living Area Main: 976
Senior Community YN: No
Outdoor Living Spaces YN: Yes
Stories Total: 4
Property Sub Type: Condominium
Bedrooms Total: 2
Bathrooms Total: 2
Bathrooms Full: 2
Building Area Main: 976
Year Built: 2007
Garage YN: 1
Attached Garage YN: 1
Garage Spaces: 1
Covered Spaces: 1
Financial Information
Application Required YN: Yes
Estimated Monthly Assoc Recurring Fee: 1456
Membership Fee Required YN: No
Association YN: 1
Association Fee: 1456
Association Fee Frequency: Monthly
Tax Annual Amount: 6685
Tax Year: 2025
Tax Legal Description: THE TERRACE CONDO UNIT 5 UNDIV 975.85/7232.26 INT IN COMMON ELEMENTS OFF REC 26092-2051
Office/Member Information
DXORIGMLSID: SEF
Application Fee Details
Application Fee Required: Yes
Application Fee: 150
Application Information
1-2 Weeks Approval: 1
Association Approval Required: 1
Rapid Approval: 1
Amenities
Elevator(s): 1
Association Fee Includes
Elevator: 1
Insurance: 1
Maintenance Grounds: 1
Maintenance Structure: 1
Reserve Funds: 1
Roof Repairs: 1
Sewer: 1
Trash: 1
Water: 1
Electric
Circuit Breakers: 1
Flooring
Tile: 1
Wood: 1
Leasing Permitted Details
Leasing Permitted YN: Yes
Okay To Lease: 1
Parking Features
Garage Door Opener: 1
Under Building: 1
Attached: 1
Attached Garage: 1
Garage: 1
Parking Information
Open Parking Spaces: 1
Property Condition
Resale: 1
Possession
Close Of Escrow: 1
View
Garden: 1
Heating
Electric: 1
Leasing Restrictions
Leasing - Max Times Per Year: 1
Leasing - Minimum Number of Days: 365
Window Features
Sliding: 1
Appliances
Dishwasher: 1
Disposal: 1
Dryer: 1
Electric Range: 1
Microwave: 1
Refrigerator: 1
Washer: 1
Construction Materials
CBS: 1
Interior Features
Elevator: 1
Listing Terms
Cash: 1
Conventional: 1
Cryptocurrency: 1
Security Features
Entry - Phone/Intercom: 1
Secured Garage/Parking: 1
Smoke Detector(s): 1
Water Heater Details
Electric Water Heater: 1
Cooling
Electric: 1
Association Type
Condominium: 1
Showing Requirements
Appointment Only: 1
Call Listing Agent: 1
Master Bedroom/Bath
Other: 1
Pets Allowed YN
Yes: 1
Storm Protection
Impact Glass: Complete
Tax Information
City/County: 1
Outdoor Living Spaces
Balcony: 1
Balcony Details
Balcony - Open: 1
Price Calculations
Current Price To SqFt: 613.72
Section Details
Parcel Number MLX: 0050
Status Change Information
Major Change Timestamp: 2026-06-02T04:00:00Z
Major Change Type: New Listing
Status Change Date: 2026-06-12
Originating Details
Originating System Key: 503248080
Originating System ID: M00000151
Property Features
Application Information: 1-2 Weeks Approval; Association Approval Required; Rapid Approval
Association Fee Includes: Elevator; Insurance; Maintenance Grounds; Maintenance Structure; Reserve Funds; Roof Repairs; Sewer; Trash; Water
Electric: Circuit Breakers
Flooring: Tile; Wood
Leasing Permitted Details: Okay To Lease
Parking Features: Garage Door Opener; Under Building; Attached; Attached Garage; Garage
Property Condition: Resale
Appliances: Dishwasher; Disposal; Dryer; Electric Range; Microwave; Refrigerator; Washer
Water Heater Details: Electric Water Heater
Construction Materials: CBS
Association Type: Condominium
Heating: Electric
Interior Features: Elevator
Listing Terms: Cash; Conventional; Cryptocurrency
Pets Allowed YN: Yes
Possession: Close Of Escrow
Security Features: Entry - Phone/Intercom; Secured Garage/Parking; Smoke Detector(s)
Tax Information: City/County
View: Garden
Window Features: Sliding
Showing Requirements: Appointment Only; Call Listing Agent
Outdoor Living Spaces: Balcony
Balcony Details: Balcony - Open

IDX
Listing Office: VantaSure Realty LLC

Last Updated: September - 01 - 2026

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