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$2,690,000

For Sale - Active
6899 Collins Ave Unit 2208, Miami Beach, FL 33141
2 Beds
2 Baths
1,290 Square Feet
0.00 Acres Lot
Built in 2008
For Sale - Active
Units n/a
Checked: 1 day ago
Updated: Jun 20, 2025 at 03:10AM

Investment Summary


Monthly Cash Flow
-$11,312
Cap Rate
1.1%
Cash-on-Cash Return
-21.9%
Debt Coverage Ratio
0.18
Internal Rate of Return (5 years)
-17.2%

Property Description


0.00 Acres Lot
Built in 2008
For Sale - Active
Units n/a

AMAZING VIEWS! A WOW UNIT!! OFFERING BEST AVAILABLE VIEWS UNOBSTRUCTED DIRECT OCEAN AND SOUTHEAST CORNER VIEWS OFFERING SUNRISE, SUNSET, MIAMI SKYLINE & BAY VIEWS IN THE MOST DESIRABLE TOWER AT THE CARILLON MIAMI BEACH. ONE OF A KIND residence, highest floor available in the 08 line of this unit type in the North Tower, clearing the central tower. This luxurious apartment offers floor to ceiling glass windows. This unit has been completely & meticulously remodeled and features white glass marble floors, custom white kitchen with Onyx wall with deemed lights, wine cooler, built-ins throughout. Amenities includes about 12 daily classes, 4 pools, restaurants, bar,70,000 sf of gym & spa area, full beach service, 6 acres of ocean front lush tropical oasis & much more. 8 memberships. A must see!

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Location


Property Details


Parking

  • Description: Attached, Garage
  • Details: Attached, Covered, Garage
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

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

Interior Features

  • # of Stories: 29

Exterior Features

  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $3,822/monthly

Land Information

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

Lot Information

  • Parcel ID: 0232110911660
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: HighRise
  • Year Built: 2008

Tax Information

  • Annual Tax: $19,750

Utilities

  • Heating: Central
  • Cooling: Central Air

Location

  • County: Miami Dade

Listing Details


Listed by:
Maria Martino PA
Charles Rutenberg Realty Fort
(786) 285-0969

Source:
MIAMI REALTORS MLS
MLS#: A11809747
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$11,312
Cap Rate
1.1%
Cash-on-Cash Return
-21.9%
Debt Coverage Ratio
0.18
Internal Rate of Return (5 years)
-17.2%

Purchase Details

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Purchase price:
$2,690,000
Amount financed:
-$2,152,000
Down payment:
$538,000
Closing costs:
$80,700
Rehab costs:
$0
Initial cash invested:
$618,700
Square feet:
1,290
Cost per square foot:
$2,085
Monthly rent per square foot:
$8.91

Financing Details

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Loan amount:
$2,152,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$13,779
Property tax:
$1,646
Insurance:
$805
Private mortgage insurance (PMI):
$0
Monthly payment:
$16,230

Operating Income

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% Rent Monthly Yearly
Gross rent:
$11,500 $138,000
Vacancy loss: (6%)
6% -$690 -$8,280
Operating income:
$10,810 $129,720

Operating Expenses


% Rent Monthly Yearly
Property taxes: (14%)
14%-$1,646-$19,750
Insurance: (7%)
7%-$805-$9,660
Property management: (8%)
8%-$920-$11,040
Repairs & maintenance: (5%)
5%-$575-$6,900
Capital expenditures: (5%)
5%-$575-$6,900
HOA fees: (33%)
33%-$3,822-$45,864
Total operating expenses: (73%)
73%-$8,343-$100,114

Cash Flow


Monthly Yearly
Net operating income:
$2,467 $29,604
Mortgage payments:
-$13,779 -$165,348
Cash flow:
$11,312 $135,744