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Waterfront · Condominium
$395,000$718 / sqft
1460 Ocean Dr # 308, Miami Beach FL 33139
Listed
1
Bedrooms
1
Bathrooms
550 sqft
Interior
1937
Year built
$831 / mo
HOA
Condominium
Type
About this home
Welcome to The Drake Condo, an iconic Art Deco building in the heart of South Beach! This beautifully renovated and fully furnished 1-bedroom, 1-bathroom residence features premium finishes, brand-new appliances, new flooring, and modern upgrades throughout. Bright and inviting, the unit is move-in ready and perfectly situated on the famous Ocean Drive, directly across from the beach and steps from some of Miami Beach’s best restaurants, boutiques, shopping, and entertainment. The building has also been tastefully renovated, adding to its charm and appeal. The unit can be rented immediately, with 90-day rentals allowed up to 4 times per year. Whatever you’re looking for a primary residence, vacation retreat, or investment opportunity, this property offers the perfect combination of style, comfort, and location. Experience the best of the South Beach lifestyle at The Drake Condo!
Features
- Interior Hall
- Lobby
- First Floor Entry
- Cooking Island
- East Of Us1
- Courtyard
- Garden View
Leasing
- Minimum lease
- 90 days
- Leases permitted per year
- 4
- No Daily Rentals
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 $2,300–$3,850.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.