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$950,000

For Sale - Active
90 Alton Rd Apt 1209, Miami Beach, FL 33139
2 Beds
2 Baths
1,080 Square Feet
0.00 Acres Lot
Built in 1999
For Sale - Active
Units n/a
Checked: 10 hours ago
Updated: May 22, 2025 at 02:03PM

Investment Summary


Monthly Cash Flow
-$3,283
Cap Rate
2.0%
Cash-on-Cash Return
-18.0%
Debt Coverage Ratio
0.33
Internal Rate of Return (5 years)
-13.4%

Property Description


0.00 Acres Lot
Built in 1999
For Sale - Active
Units n/a

Spacious 2-bedroom in the heart of South of Fifth, perfect as a primary residence or an income-producing rental. Enjoy stunning ocean and city views from the private balcony. The split floor plan offers comfort and privacy. Located within walking distance to world-class dining, shopping, and the beach. All Brand New Appliances. The building features top-tier amenities, including a newly renovated lobby, heated inground pool, jacuzzi, tennis court, BBQ area, fitness center, sauna, 24-hour front desk and valet, convenience store, and on-site management. The Miami Beach Marina and baywalk are right in your backyard. Maintenance includes water, WiFi, cable, and an assigned parking space. Short-term rentals allowed—30-day minimum, up to 12 times per year.

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Location


Property Details


Parking

  • Details: Attached, Garage, Valet
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

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

Interior Features

  • # of Stories: 33

Exterior Features

  • Foundation: Raised

HOA

  • Has HOA: Yes
  • HOA Fee: $1,585/monthly

Land Information

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

Lot Information

  • Parcel ID: 0242032342480
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: HighRise
  • Year Built: 1999

Tax Information

  • Annual Tax: $14,970

Utilities

  • Heating: Central
  • Cooling: Central Air

Location

  • County: Miami Dade

Listing Details


Listed by:
Sabrina Rivera
Urban Resource LLC
(786) 875-8100

Source:
MIAMI REALTORS MLS
MLS#: A11806435
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$3,283
Cap Rate
2.0%
Cash-on-Cash Return
-18.0%
Debt Coverage Ratio
0.33
Internal Rate of Return (5 years)
-13.4%

Purchase Details

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Purchase price:
$950,000
Amount financed:
-$760,000
Down payment:
$190,000
Closing costs:
$28,500
Rehab costs:
$0
Initial cash invested:
$218,500
Square feet:
1,080
Cost per square foot:
$880
Monthly rent per square foot:
$5.93

Financing Details

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Loan amount:
$760,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$4,866
Property tax:
$1,248
Insurance:
$448
Private mortgage insurance (PMI):
$0
Monthly payment:
$6,562

Operating Income

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% Rent Monthly Yearly
Gross rent:
$6,400 $76,800
Vacancy loss: (6%)
6% -$384 -$4,608
Operating income:
$6,016 $72,192

Operating Expenses


% Rent Monthly Yearly
Property taxes: (19%)
19%-$1,248-$14,970
Insurance: (7%)
7%-$448-$5,376
Property management: (8%)
8%-$512-$6,144
Repairs & maintenance: (5%)
5%-$320-$3,840
Capital expenditures: (5%)
5%-$320-$3,840
HOA fees: (25%)
25%-$1,585-$19,020
Total operating expenses: (69%)
69%-$4,433-$53,190

Cash Flow


Monthly Yearly
Net operating income:
$1,583 $18,996
Mortgage payments:
-$4,866 -$58,392
Cash flow:
$3,283 $39,396