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$240,000

551 Michigan Ave #223, Miami Beach, FL 33139

Bedrooms
1
Baths
1
Living area
504 ft²
Price per ft²
$476 / ft²
Type
Condo
Year built
1945
HOA
$581 / mo HOA
On market
11 days on market
MLS #
A12107402

Discover an exceptional opportunity to own a piece of Miami Beach in a charming Art Deco building that combines timeless character, valuable improvements, and an unbeatable location! Just blocks from the beautiful beaches of South Beach, this property offers the ultimate coastal lifestyle, surrounded by world-class dining, boutique shopping, entertainment, and the vibrant energy of Miami Beach. What truly sets this property apart are the significant building improvements: a ROOF APPROXIMATELY 3 YEARS OLD, IMPACT-RESISTANT WINDOWS AND DOORS, SUCCESSFULLY COMPLETED 40-YEAR RECERTIFICATION, AND BUILDING INSURANCE IN PLACE. These important features add tremendous value and appeal for today’s buyers. Enjoy the convenience of a highly walkable neighborhood where the beach, charming cafés, and iconic Art Deco architecture are part of everyday life. Perfect as a primary residence, vacation getaway, or investment opportunity, this property offers the chance to enjoy one of South Florida’s most desirable coastal communities. Association has no reserves; financing with 20% down may be possible, subject to lender approval. A fantastic opportunity to embrace the South Beach lifestyle while benefiting from important building upgrades. Schedule your private showing today!

The MiamiLi Read

The lines below are derived automatically from this listing’s own data and the area’s recorded deed transfers. They are not a personal opinion or investment advice.

  • Price per square footThe asking price per ft² on this listing is $476. The median for recorded sales in the same ZIP codes is $606/ft² — putting it 21% below the median.
  • Position in the area’s price distributionThe asking price is $240,000; the median of recorded sales in the area is $590,000 (2,281 sales). On raw price that is 59% below the median — this line does NOT adjust for property type or size.
  • HOA fee as a share of priceAn HOA fee of $581 per month comes to $6,972 a year — 2.9% of the asking price. That amount is deducted from rental yield.

How to read this comparison: the figure on the left is an asking price, while the one on the right is a closed sale median — the two are not the same thing, and the room to negotiate sits inside that gap. The median covers every property type and size in those ZIP codes; it carries no adjustment for a single listing’s floor, view, age or finishes. This box is not an appraisal.

Scope: ZIP codes 33139, 33140, 33141 · arm’s-length sales recorded by the Miami-Dade County Property Appraiser.

Monthly mortgage payment

Estimated monthly loan payment based on this listing's price. Adjust the down payment, rate and term to match your own terms.

30%$72,000
Term

7.32% — Freddie Mac PMMS (FRED) current mortgage rates, 30-year fixed, conforming. Priced October 22, 2026.

Estimated monthly payment$1,154
Loan amount
$168,000
Total interest over the term
$247,456
Total repaid
$415,456

Principal and interest only; property tax, insurance and HOA dues are NOT included. This is not a binding offer.

Lifestyle International Realty

Listing data provided by the Southeast Florida MLS (MIAMI REALTORS®) IDX feed. Copyright Southeast Florida Multiple Listing Service © 2026. Accuracy of listing information is not guaranteed. Listing information is provided for personal consumer, non-commercial use, solely to identify potential properties for potential purchase. All other use is strictly prohibited.

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