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$1,450,000

For Sale - Active
4401 Collins Ave Unit 1015, Miami Beach, FL 33140
1 Bed
2 Baths
1,066 Square Feet
0.00 Acres Lot
Built in 2005
For Sale - Active
Units n/a
Checked: 1 hour ago
Updated: Apr 20, 2025 at 05:56AM

Investment Summary


Monthly Cash Flow
-$6,664
Cap Rate
0.6%
Cash-on-Cash Return
-24.0%
Debt Coverage Ratio
0.10
Internal Rate of Return (5 years)
-19.1%

Property Description


0.00 Acres Lot
Built in 2005
For Sale - Active
Units n/a

Enjoy full service, vacation-style living in this furnished turnkey corner unit at the Fontainebleau II Tresor with beautiful unobstructed ocean, Indian creek, & city views. Offering floor to ceiling glass windows, 2 private balconies, spacious living room with sleeper sofa, open kitchen layout, king bed in primary bedroom with walk in closet, washer/dryer & more. Option to enroll in hotel rental program & receive income while away! The Fontainebleau resort offers award-winning restaurants, LIV night club, Lapis spa & state-of-the-art fitness center, bakery, shops, full-service salon and more. Maintenance fees include all utilities: AC, internet, cable, electricity, valet + daily free breakfast in owner's lounge.

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Location


Property Details


Parking

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

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 37

HOA

  • Has HOA: Yes
  • HOA Fee: $1,435/monthly

Land Information

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

Lot Information

  • Parcel ID: 0232230233770
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: HighRise
  • Year Built: 2005

Tax Information

  • Annual Tax: $19,156

Utilities

  • Heating: Central
  • Cooling: Central Air

Location

  • County: Miami Dade

Listing Details


Listed by:
Michele Redlich
Coldwell Banker Realty
(305) 725-3119

Source:
MIAMI REALTORS MLS
MLS#: A11769850
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$6,664
Cap Rate
0.6%
Cash-on-Cash Return
-24.0%
Debt Coverage Ratio
0.10
Internal Rate of Return (5 years)
-19.1%

Purchase Details

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Purchase price:
$1,450,000
Amount financed:
-$1,160,000
Down payment:
$290,000
Closing costs:
$43,500
Rehab costs:
$0
Initial cash invested:
$333,500
Square feet:
1,066
Cost per square foot:
$1,360
Monthly rent per square foot:
$5.16

Financing Details

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Loan amount:
$1,160,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$7,428
Property tax:
$1,596
Insurance:
$385
Private mortgage insurance (PMI):
$0
Monthly payment:
$9,409

Operating Income

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% Rent Monthly Yearly
Gross rent:
$5,500 $66,000
Vacancy loss: (6%)
6% -$330 -$3,960
Operating income:
$5,170 $62,040

Operating Expenses


% Rent Monthly Yearly
Property taxes: (29%)
29%-$1,596-$19,156
Insurance: (7%)
7%-$385-$4,620
Property management: (8%)
8%-$440-$5,280
Repairs & maintenance: (5%)
5%-$275-$3,300
Capital expenditures: (5%)
5%-$275-$3,300
HOA fees: (26%)
26%-$1,435-$17,220
Total operating expenses: (80%)
80%-$4,406-$52,876

Cash Flow


Monthly Yearly
Net operating income:
$764 $9,168
Mortgage payments:
-$7,428 -$89,136
Cash flow:
$6,664 $79,968