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945 Michigan Ave # 5, Miami Beach FL 33139

Condo/Co-op For Sale
$599,000

BTC: 9.35937500

ETH: 354.22826730

8 days
2 bds
2 ba
976 sqft

Overview

Amazing Opportunity in Miami Beach!Why should I buy this condo? Rare chance to own one of the best values currently available in the area. Built in 2007, this newer boutique building offers features that are difficult to find at this price point.Association requirements are buyer-friendly with no minimum credit score requirement, no income verification requirement, and no minimum down payment requirement imposed by the association. Unlike many buildings in the area, you don't need a large down payment to buy. Qualified buyers may finance with as little as 3%-5% down, potentially saving tens of thousands of dollars compared to condos requiring 20%-25% or more down. Many condos in the same price range are located in much older buildings dating back to the 1950s, while this property combines modern construction with extensive recent building improvements. The building features assigned indoor parking, two beautiful rooftop terraces, impact windows and doors, and has recently completed major upgrades including building recertification/inspection, concrete restoration work, new roof, and a complete interior and exterior repainting. Inside, the unit has been updated with brand-new flooring in both bedrooms, a new A/C unit, and includes a washer, dryer, dishwasher, and more. Spacious layout, modern construction, and a prime Miami Beach location make this an exceptional value ! Schedule your showing today.

Location

Details

Type:
Residential
Parking:
1 Space / Additional Spaces Available / Parking-Under Building
Year Built:
2007
Lot:
No Data
Heating:
Electric
Price/sqft:
$614
Cooling:
Electric
HOA:
$1,456

Valuation

Our model vs. what's actually selling nearby.
Estimate
$498,700
$329K – $730K
Confidence Low
List vs. estimate
$100K above estimate
List $599,000 · +20.1%
Our model says this listing is priced above recent comparable activity. Room to negotiate.
Price per sq ft
$613
+3.9% vs. city median $590
Based on
1618 MLS comparables
+ 30 public-records sales within 0.5 mi
Median actual sale: $404K
Median of recent comparable listings. Sold comps use closing price, active listings use list price.

Highlights

Annual tax
$6,685
2025
HOA
$1,456/mo
View
Garden View
Garage
1 car garage
All facts and features
  • Flooring

    • Tile

    • Wood

    Heating

    • Electric

    Cooling

    • Electric

    Appliances

    • Dishwasher

    • Disposal

    • Dryer

    • Electric Range

    • Electric Water Heater

    • Microwave

    • Refrigerator

    • Washer

    Other interior features

    • Elevator

    Bedrooms and bathrooms

    • Bedrooms: 2

    • Full bathrooms: 2

  • Parking

    • 1 Space

    • Additional Spaces Available

    • Parking-Under Building

    Property

    • Exterior Features: None / Open Balcony

    Other Property Information

    • Parcel Number: 02-42-03-336-0050

  • Type and style

    • Property Type: Residential

    • Property Sub Type: Condominium

  • Other financial information

    • HOA: $1,456

    • HOA Frequency: Monthly

    • Annual tax amount: $6,685

  • Source details

    • MLS ID: A12029487

    Other facts

    • Construction Materials: CBS Construction

    • Patio And Porch Features: Open Balcony

    • Window Features: Complete Impact Glass / Sliding

    • Garage Spaces: 1

    • Attached Garage: Yes

    • Garage: Yes

    • Living Area: 976

    • Subdivision Name: THE TERRACE CONDO

Private inquiry
Talk to the advisor on this listing.
Floor plans, HOA docs, off-market comparables, scheduling a private showing — one message, direct to the local specialist.

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The multiple listing information is provided by the Miami Association of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026-present Miami Association of REALTORS®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: VantaSure Realty LLC