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Waterfront · Condominium
$365,000$487 / sqft
1228 West Ave # 1506, Miami Beach FL 33139
Listed
1
Bedrooms
2
Bathrooms
750 sqft
Interior
1971
Year built
$806 / mo
HOA
Condominium
Type
About this home
This 15th-floor residence sits on the building’s top floor at Bayview Terrace, so there are no neighbors above. The 750 sq. ft. layout is bright and open, with views on two sides: Biscayne Bay to the west and the Atlantic Ocean to the east. The home has a large primary suite, 1.5 bathrooms, a spacious balcony and brand-new Samsung stainless steel appliances. It also comes with one assigned parking space, which is hard to find in this neighborhood. Residents get bayfront amenities, including an outdoor pool, a fitness center and 24-hour lobby security. The building is on West Avenue, minutes from Whole Foods, Lincoln Road and Miami Beach’s best dining and entertainment. The unit is currently leased at $2,800/month, so it earns income from day one. That makes it a good fit for an investor, or for a buyer who plans to move in later.
Features
- Other
- Open Balcony
- Bay
- Intracoastal View
- Ocean View
- Skyline
- Water View
Leasing
- Minimum lease
- 365 days
- Leases permitted per year
- 1
- Ok To Lease
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–$3,900.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.