Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Copied
Photo
Copied
Photo
Photo
Photo
Photo
See all photos

$1,470,000

For Sale - Active
734 Michigan Ave Apt 6, Miami Beach, FL 33139
2 Beds
2 Baths
1,381 Square Feet
0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a
Checked: 1 hour ago
Updated: Jun 19, 2025 at 03:09AM

Investment Summary


Monthly Cash Flow
-$5,032
Cap Rate
2.2%
Cash-on-Cash Return
-17.9%
Debt Coverage Ratio
0.35
Internal Rate of Return (5 years)
-13.3%

Property Description


0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a

Fully remodeled Tri-level townhouse with 28 ft ceilings generating $5900 per month with brand new white porcelain plank floors throughout. Private rooftop terrace and hot tub. Quiet and secure building with only 7 units. Bright open living space. High Impact windows and doors, 2 bedrooms and 2 full baths. Includes 1 covered assigned parking in a gated garage. Feel at home in this gated, quiet and secure building. Unbeatable location within 2 blocks to the shopping center on Alton Rd and 5th Ave. Walk to Flamingo Park, the Beach, Lincoln Road, shops and restaurants. Publix, Total Wine and Whole Foods are just around the corner. This exclusive and private residence gives you the opportunity to enjoy luxury in a prime location without the hassle of high rise living. Very low Maintenance fees.

Build Your Team


Quickly find investor-friendly professionals who can help you succeed in real estate investing at any stage of the investing journey.

Agents

Match with investor-friendly agents who can help you find, analyze, and close your next deal

Find an Agent

Lenders

Get the best funding…find investor-friendly lenders who specialize in your deal strategy

Find a Lender

Property Managers

Transition to passive investing. Find a trusted property management partnership that lasts.

Find a Property Manager

Tax Pros & Accountants

Taxes and financial reporting made easy—find experts to create tax savings strategies, file taxes, and more

Find a Tax Pro

Location


Property Details


Parking

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

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 4

HOA

  • Has HOA: Yes
  • HOA Fee: $557/monthly

Land Information

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

Lot Information

  • Parcel ID: 0242033300060
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: TriLevel
  • Year Built: 2006

Tax Information

  • Annual Tax: $8,524

Utilities

  • Heating: Central
  • Cooling: Central Air

Location

  • County: Miami Dade

Listing Details


Listed by:
Boris Jola
Real Estate Sales Force
(305) 527-0235

Source:
MIAMI REALTORS MLS
MLS#: A11806129
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$5,032
Cap Rate
2.2%
Cash-on-Cash Return
-17.9%
Debt Coverage Ratio
0.35
Internal Rate of Return (5 years)
-13.3%

Purchase Details

Find an Agent

Purchase price:
$1,470,000
Amount financed:
-$1,176,000
Down payment:
$294,000
Closing costs:
$44,100
Rehab costs:
$0
Initial cash invested:
$338,100
Square feet:
1,381
Cost per square foot:
$1,064
Monthly rent per square foot:
$4.13

Financing Details

Find a Lender

Loan amount:
$1,176,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$7,698
Property tax:
$710
Insurance:
$399
Private mortgage insurance (PMI):
$0
Monthly payment:
$8,807

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$5,700 $68,400
Vacancy loss: (6%)
6% -$342 -$4,104
Operating income:
$5,358 $64,296

Operating Expenses


% Rent Monthly Yearly
Property taxes: (12%)
12%-$710-$8,524
Insurance: (7%)
7%-$399-$4,788
Property management: (8%)
8%-$456-$5,472
Repairs & maintenance: (5%)
5%-$285-$3,420
Capital expenditures: (5%)
5%-$285-$3,420
HOA fees: (10%)
10%-$557-$6,684
Total operating expenses: (47%)
47%-$2,692-$32,308

Cash Flow


Monthly Yearly
Net operating income:
$2,666 $31,992
Mortgage payments:
-$7,698 -$92,376
Cash flow:
$5,032 $60,384