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Single Family Residence
$1,850,000$768 / sqft
821 Espanola Way, Miami Beach FL 33139
Listed
5
Bedrooms
5
Bathrooms
2,410 sqft
Interior
1938
Year built
None
HOA
Single Family Residence
Type
About this home
A rare opportunity on coveted Española Way, in the heart of South Beach's Art Deco District, originally designed by legendary architect L. Murray Dixon. Directly across from Flamingo Park and steps to Lincoln Road, dining, and the beach. The layout offers exceptional flexibility: a main residence with 2 bedrooms, 1.5 baths, and a private backyard, two of the rooms with a full kitchenette and their own private entrance, and a large detached one-bedroom rear house with a private balcony. Currently tenant-occupied, with strong upside potential.
Features
- First Floor Entry
- Second Floor Entry
- Garage Apartment
- Separate Guest/In-Law Quarters
- Studio Apartment
- Barbeque
- Open Balcony
- Outdoor Shower
- Other
Leasing
- Minimum lease
- Not stated
- Ok To Lease
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.
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 5-bed rentals in Miami Beach, from 15 active listings; the middle half ask $19,000–$69,000.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.