
Property photos —
MIAMI REALTORS® MLS945 Michigan Avenue 5, Miami Beach, FL 33139
- Beds
- 2
- Baths
- 2
- Sqft
- 976
- Home type
- Condominium
- Year built
- 2007
- Lot size
- —
- Price / sqft
- $614
- HOA
- $1,456/mo
- Community
- THE TERRACE CONDO
Property description
This condo it is rented till August 2027. 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.
Listing activity
- Days on market
- 143
- Listed
- Jun 2, 2026
- MLS listing updated
- Sep 1, 2026
- Feed last checked
- 10 minutes ago
Listed by Mxim Madcedi · VantaSure Realty LLC
Map
Map location is based on MLS-supplied coordinates. Verify the location before relying on it.
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms
- 2
- Bathrooms
- 2
- Bathrooms (decimal)
- 2
- Full bathrooms
- 2
- Half bathrooms
- 0
Rooms & features
- Rooms
- 0
- Interior features
- Elevator
- Flooring
- Tile, Wood
- Appliances
- Electric Water Heater, Dishwasher, Disposal, Dryer, Electric Range, Microwave, Refrigerator, Washer
- Window features
- Sliding
Heating & cooling
- Heating
- Electric
- Cooling
- Electric
Property
Parking
- Garage spaces
- 1
- Garage
- Yes
- Covered spaces
- 1
- Parking features
- Attached, Attached Garage, Garage, Garage Door Opener, Under Building
- Attached garage
- Yes
Exterior
- Stories
- 4
- Building area
- 976 sqft
- Exterior features
- Balcony
- View
- Garden
- Waterfront property
- No
Construction
Type & style
- Home type
- Condominium
- Year built
- 2007
- New construction
- No
Materials
- Construction
- CBS
- Property condition
- Resale
Utilities & green energy
Utilities
- Electric
- Circuit Breakers
Community & HOA
Community
- Subdivision
- THE TERRACE CONDO
- MLS area
- 2420
- Security
- Entry - Phone/Intercom, Secured Garage/Parking, Smoke Detector(s)
- Pets allowed
- Yes
- 55+ community
- No
Association
- Has association
- Yes
- Association fee
- $1,456 monthly
- Estimated monthly dues
- $1,456
- Amenities
- Elevator(s)
- Services included
- Elevator, Insurance, Maintenance Grounds, Maintenance Structure, Reserve Funds, Roof Repairs, Sewer, Trash, Water
Lease details
Not reported by the listing source.
Location
Area details
- City
- Miami Beach
- County
- Miami-Dade
- ZIP code
- 33139
Manufactured home details
Not reported by the listing source.
Financial & listing details
Listing
- MLS number
- A12029487
- Possession
- Close Of Escrow
- Original list price
- $599,000
- Parcel number
- 0242033360050
- Annual property tax
- $6,685
- Tax year
- 2025
- Tax legal description
- THE TERRACE CONDO UNIT 5 UNDIV 975.85/7232.26 INT IN COMMON ELEMENTS OFF REC 26092-2051
Additional MLS details
Reported by the listing source
- Association Amenities
- Elevator(s)
- Association Fee Frequency
- Monthly
- Association Fee Includes
- Elevator, Insurance, Maintenance Grounds, Maintenance Structure, Reserve Funds, Roof Repairs, Sewer, Trash, Water
- Association
- Yes
- Bathrooms Total Decimal
- 2
- Bathrooms Total Integer
- 2
- Building Area Total
- 976
- Construction Materials
- CBS
- County Or Parish
- Miami-Dade
- Days On Market
- 143
- Elementary School
- Miami Beach Fienberg / Fisher K-8
- High School
- Miami Beach
- List Price
- 599000
- Listing Contract Date
- 2026-06-02
- Living Area
- 976
- MLSArea Major
- 2420
- Mls Status
- Active
- On Market Date
- 2026-06-02
- Photos Count
- 23
- Postal Code
- 33139
- Property Sub Type
- Condominium
- Property Type
- Residential
- Rooms Total
- 0
- Security Features
- Entry - Phone/Intercom, Secured Garage/Parking, Smoke Detector(s)
- Senior Community
- No
- Standard Status
- Active
- State Or Province
- FL
- Status Change Timestamp
- 2026-06-02T04:00:00Z
- Stories Total
- 4
- Subdivision Name
- THE TERRACE CONDO
- Tax Annual Amount
- 6685
- Bathrooms Full
- 2
- Bedrooms Total
- 2
- Waterfront
- No
- Bathrooms Half
- 0
- Financial Information: Estimated Monthly Assoc Recurring Fee
- 1456
Market value
Price history
| Date | Event | Price |
|---|---|---|
| Jun 2, 2026 | ListedMIAMI REALTORS® MLS | $599,000$614/sqft |
Public tax history
| Year | Property taxes | Assessment |
|---|---|---|
| 2025 | $6,685 | — |
Payment calculator
- Principal & interest
- $3,108
- Property taxes
- $557
- Insurance
- $300
- Association dues
- $1,456
Live national rate context is displayed below through Mortgage News Daily’s official widget. The calculator rate remains a separate assumption until licensed machine-readable access is connected. This is not a loan offer.
Neighborhood
Area
THE TERRACE CONDOMiami Beach · Miami-Dade County · 33139
Climate risk
—No licensed climate-risk source is connected.
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