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Waterfront · Condominium
$285,000$632 / sqft
1060 Ocean Dr # D206, Miami Beach FL 33139
Listed
1
Bedrooms
1
Bathrooms
451 sqft
Interior
1934
Year built
$1,535 / mo
HOA
Condominium
Type
About this home
Exceptional opportunity to own a short-term vacation rental in the heart of South Beach, ideally located on iconic Ocean Drive at the corner of 11th Street. Currently professionally managed as a vacation rental, the property offers flexibility as both an investment and a personal getaway. Owners and guests enjoy access to a rooftop pool and bar, along with convenient front desk services located next door at The Strand. Step outside and experience the very best of South Beach, directly across from the beach and Lummus Park, next door to the world-famous former Versace Mansion, and just steps from Palace Bar & Restaurant, one of Ocean Drive’s best-known dining and entertainment destinations. A unique additional opportunity: Unit D204, located directly next to D206, is also being offered for sale. The two units are side-by-side, providing the opportunity to purchase one or both adjacent residences, an attractive option for investors, extended families, or buyers seeking additional vacation-rental flexibility. With its prime location, short-term rental flexibility, and the unmistakable energy of Ocean Drive, this is a unique opportunity to own in one of South Beach’s most recognizable locations. Unit is being completely repainted. New photos will be updated as soon as unit is finished being repainted. Walk thru video is available.
Features
- Interior Hall
- No Interior Features
- Other
- None
- Other View
Leasing
- Minimum lease
- 1 day
- Leases permitted per year
- 365
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–$3,800.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.