Interior
- Bathrooms
- 0
Active · MultiFamily
$1,200,000
1508 Meridian Ave, Miami Beach, FL 33139
- Beds
- —
- Baths
- 0
- Living area
- — sq ft
- $ / sq ft
- —
- Year built
- 1935
- Lot size
- 7,500 sq ft
- HOA fee
- $1,390
- Annual tax
- —
About this property
This offering represents the acquisition of four contiguous condominium units within The Castle Meridian Condominium, a boutique 12-unit Art Deco complex located in the heart of South Beach. The condominium is composed of three adjacent buildings: • 1506 Meridian Avenue – 4 units • 1508 Meridian Avenue – 4 units • 1510 Meridian Avenue – 4 units The subject offering includes 100% of the units within the central building at 1508 Meridian Avenue (Units 3, 4, 9 & 10). Folio:02-3234-228-0100 Folio:02-3234-228-0090 Folio:02-3234-228-0040 Folio:02-3234-228-0030 Total Annual Gross Income: $91,200 Annual Operating Expenses (HOA + Property Taxes) $30,114.32 • The 40-Year Certification process is currently in its final phase of completion. • All special assessments will be paid in full by the Seller at closing.
Property location
Get Directions1508 Meridian Ave, Miami Beach, FL 33139
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Facts & features
Exterior & Structure
- Property type
- MultiFamily
- Year built
- 1935
- Lot size
- 7,500 sq ft
Parking
Not provided in the MLS listing.
HOA, Community & Financials
- Association fee
- $1,390
- County
- Miami-Dade
- MLS listing ID
- A12018961
- Listing status
- Active
Investment intelligence
Yield & ROI calculator
Pre-filled from this listing's price, HOA and tax record. Adjust anything to see returns update instantly.
Estimated monthly cash flow
-$3,739
- Cap rate
- 1.9%
- Net yield
- 1.9%
- Cash-on-cash return
- -13.4%
- Gross yield
- 6.6%
- Mortgage payment
- $5,689/mo
- Down payment
- $300,000
- Loan amount
- $900,000
- Annual NOI
- $23,400
Estimates only — includes 5% maintenance reserve and ~3% closing costs in cash invested. Verify taxes, HOA and insurance before making an offer.