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$945,000

For Sale - Active
2301 Collins Ave Apt 836, Miami Beach, FL 33139
1 Bed
1 Bath
760 Square Feet
0.00 Acres Lot
Built in 1926
For Sale - Active
Units n/a
Checked: 24 hours ago
Updated: May 22, 2025 at 12:41PM

Investment Summary


Monthly Cash Flow
-$4,132
Cap Rate
1.0%
Cash-on-Cash Return
-22.8%
Debt Coverage Ratio
0.17
Internal Rate of Return (5 years)
-18.0%

Property Description


0.00 Acres Lot
Built in 1926
For Sale - Active
Units n/a

Luxury Condo at the Ocean front Roney Palace. Experience the epitome of Miami Beach living in this stunning Fully renovated one-bedroom residence at the Roney Palace, a resort-style condominium sharing amenities with the 5-star 1 Hotel South Beach. Key Features are Fully renovated building with sleek modern finishes, Oceanfront location with breathtaking views, Pet-friendly community, 30-day rentals allowed with resort tax license, and All assessments paid in full for this unit. Enjoy the Resort-Style Amenities including Rooftop pool and sun deck, Fitness center and spa, Beachside access, Pools Restaurants and bars on site, and 24/7 security and concierge. Don't miss this incredible opportunity to own a piece of paradise! Contact us today to schedule a showing.

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Location


Property Details


Parking

  • Description: Valet
  • Details: Valet
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Stories: 18

Exterior Features

  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $1,299/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 0232260434700
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: None
  • Year Built: 1926

Tax Information

  • Annual Tax: $8,552

Utilities

  • Heating: Central
  • Cooling: Central Air

Location

  • County: Miami Dade

Listing Details


Listed by:
Eliana Lancellotti
Premium Estates Realty Corp
(786) 620-1638

Source:
MIAMI REALTORS MLS
MLS#: A11693844
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$4,132
Cap Rate
1.0%
Cash-on-Cash Return
-22.8%
Debt Coverage Ratio
0.17
Internal Rate of Return (5 years)
-18.0%

Purchase Details

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Purchase price:
$945,000
Amount financed:
-$756,000
Down payment:
$189,000
Closing costs:
$28,350
Rehab costs:
$0
Initial cash invested:
$217,350
Square feet:
760
Cost per square foot:
$1,243
Monthly rent per square foot:
$5.39

Financing Details

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Loan amount:
$756,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$4,949
Property tax:
$713
Insurance:
$287
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,949

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,100 $49,200
Vacancy loss: (6%)
6% -$246 -$2,952
Operating income:
$3,854 $46,248

Operating Expenses


% Rent Monthly Yearly
Property taxes: (17%)
17%-$713-$8,552
Insurance: (7%)
7%-$287-$3,444
Property management: (8%)
8%-$328-$3,936
Repairs & maintenance: (5%)
5%-$205-$2,460
Capital expenditures: (5%)
5%-$205-$2,460
HOA fees: (32%)
32%-$1,299-$15,588
Total operating expenses: (74%)
74%-$3,037-$36,440

Cash Flow


Monthly Yearly
Net operating income:
$817 $9,804
Mortgage payments:
-$4,949 -$59,388
Cash flow:
$4,132 $49,584