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Condominium
$1,145,000$769 / sqft
245 Michigan Ave # 4, Miami Beach FL 33139
Listed
2
Bedrooms
2
Bathrooms
1,488 sqft
Interior
2004
Year built
$1,025 / mo
HOA
Condominium
Type
About this home
Unique architectural two-story loft penthouse with a private rooftop terrace in the heart of South of Fifth (SoFi). Defined by soaring 16-foot ceilings and dramatic floor-to-ceiling impact windows, the double-height living space is filled with natural light and showcases western exposures with stunning sunset views toward Biscayne Bay. This two-bedroom, two-bathroom residence offers 1,488 sq ft of interior living space. A standout feature is the private 332 sq ft rooftop terrace, accessed separately from the main living areas, offering sweeping views of Fisher Island, the Port of Miami, and Miami Beach sunsets—ideal for entertaining or relaxing above it all. The updated kitchen features Bosch appliances, modern cabinetry, and upgraded finishes, complemented by renovated bathrooms and dual walk-in closets with custom built-ins. Built in 2004, the residence includes two assigned parking spaces, bike and motorcycle storage, and pet-friendly policies. The boutique building offers a low HOA and has completed major improvements, including a renovated pool, modernized elevators, and upgraded security. Located moments from South Pointe Park, the marina, beach access, Whole Foods, Pura Vida, cafés, and top dining, this penthouse offers a rare opportunity in one of Miami Beach’s most desirable neighborhoods.
Features
- First Floor Entry
- Built-in Features
- Split Bedroom
- Walk-In Closet(s)
- Loft
- Barbeque
- Courtyard
- Open Balcony
- Bay
Run the numbers
We fill in the price and the building's HOA dues. That leaves tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Rent starts from what comparable units are asking nearby. Vacancy and the loan terms below start at common defaults; change them.
Median asking rent for 2-bed rentals in Miami Beach, from 200 active listings; the middle half ask $3,595–$10,000.That is what landlords ask, not what units let for — edit it if you know better.
Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management
Cap rate
Cash-on-cash
Monthly cash flow
Net operating income
Enter property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.
Illustration only — not a loan offer, quote, or investment advice. We are not a lender and neither offer nor arrange financing. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.
Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.