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Condominium
$319,000$580 / sqft
1550 Drexel Ave # 207, Miami Beach FL 33139
Listed
1
Bedrooms
1
Bathrooms
550 sqft
Interior
1925
Year built
$850 / mo
HOA
Condominium
Type
About this home
Recently fully remodeled, this beautifully furnished 1-bedroom, 1-bath corner unit offers modern comfort and style. The apartment features a completely renovated kitchen with new quartz countertops, updated appliances, and a new sink, along with a fully upgraded bathroom. Enjoy the convenience of an in-unit washer and dryer, as well as elegant whitewashed laminate flooring throughout. Ideally located in the heart of Miami Beach, just one block from Lincoln Road, you’ll be steps away from top restaurants, shops, and the beach. Situated at the end of the hallway, this private corner unit offers peaceful landscaping views. The building and unit are both exceptionally well maintained. Street resident parking is available. Currently tenant-occupied with a rental income of $2,300 per month through February 28, 2027—making this an excellent investment opportunity.
Features
- Second Floor Entry
- Courtyard
- Garden View
Leasing
- Minimum lease
- 365 days
- Leases permitted per year
- 1
- Okay To Lease 1st Year
Leasing terms as stated in the MLS listing, not verified by us. The association’s governing documents control what is actually permitted and can change — confirm before you buy.
Location
Approximate — shows the building, not the unit.
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 1-bed rentals in Miami Beach, from 200 active listings; the middle half ask $2,350–$4,500.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.