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1
Bedrooms
1
Bathrooms
488 sqft
Interior
1934
Year built
$1,618 / mo
HOA
Condominium
Type
About this home
Wake up to ocean breezes, step outside to the beach, and enjoy the prestige of owning an iconic piece of OCEAN DRIVE. A smart investment. A historic address. An unmatched lifestyle. Residence 304 at 1060 Ocean Drive offers an exceptional opportunity to own in the heart of Miami Beach with the flexibility of a highly desirable hotel program. This stylish unit allows owners to enjoy personal use while generating income through professionally managed short-term rentals—an ideal blend of lifestyle and investment. Residents and guests enjoy premium amenities including a rooftop pool and lounge with panoramic ocean views, fitness center, on-site dining, concierge service, and beach & Lummas Park outside your door. Perfectly positioned on iconic Ocean Drive, directly across from the beach and Lummus Park, this prime South Beach location places you moments from world-class dining, nightlife, shopping, and cultural attractions—delivering the ultimate Miami Beach experience. Enroll in the hotel program or rent independently for maximum profits!
Features
- Lobby
- No Interior Features
- Other
- Skyline
Leasing
- Minimum lease
- 1 day
- Leases permitted per year
- 365
- Daily Rentals Allowed
- 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 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.