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ActiveMLS listing sourceMIAMI REALTORS® MLS
ActiveMLS® A12029487
$599,000

945 Michigan Avenue 5, Miami Beach, FL 33139

Beds
2
Baths
2
Sqft
976
Est. payment$5,421/mo
Home type
Condominium
Year built
2007
Lot size
—
Price / sqft
$614
HOA
$1,456/mo
Community
THE TERRACE CONDO

Property description

This condo it is rented till August 2027. Amazing Opportunity in Miami Beach!Why should I buy this condo? Rare chance to own one of the best values currently available in the area. Built in 2007, this newer boutique building offers features that are difficult to find at this price point.Association requirements are buyer-friendly with no minimum credit score requirement, no income verification requirement, and no minimum down payment requirement imposed by the association. Unlike many buildings in the area, you don't need a large down payment to buy. Qualified buyers may finance with as little as 3%-5% down, potentially saving tens of thousands of dollars compared to condos requiring 20%-25% or more down. Many condos in the same price range are located in much older buildings dating back to the 1950s, while this property combines modern construction with extensive recent building improvements.The building features assigned indoor parking, two beautiful rooftop terraces, impact windows and doors, and has recently completed major upgrades including building recertification/inspection, concrete restoration work, new roof, and a complete interior and exterior repainting.Inside, the unit has been updated with brand-new flooring in both bedrooms, a new A/C unit, and includes a washer, dryer, dishwasher, and more. Spacious layout, modern construction, and a prime Miami Beach location make this an exceptional value ! Schedule your showing today.

Listing activity

Days on market
143
Listed
Jun 2, 2026
MLS listing updated
Sep 1, 2026
Feed last checked
11 minutes ago

Listed by Mxim Madcedi · VantaSure Realty LLC

Map

Map location is based on MLS-supplied coordinates. Verify the location before relying on it.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms
2
Bathrooms
2
Bathrooms (decimal)
2
Full bathrooms
2
Half bathrooms
0

Rooms & features

Rooms
0
Interior features
Elevator
Flooring
Tile, Wood
Appliances
Electric Water Heater, Dishwasher, Disposal, Dryer, Electric Range, Microwave, Refrigerator, Washer
Window features
Sliding

Heating & cooling

Heating
Electric
Cooling
Electric
Property

Parking

Garage spaces
1
Garage
Yes
Covered spaces
1
Parking features
Attached, Attached Garage, Garage, Garage Door Opener, Under Building
Attached garage
Yes

Exterior

Stories
4
Building area
976 sqft
Exterior features
Balcony
View
Garden
Waterfront property
No
Construction

Type & style

Home type
Condominium
Year built
2007
New construction
No

Materials

Construction
CBS
Property condition
Resale
Utilities & green energy

Utilities

Electric
Circuit Breakers
Community & HOA

Community

Subdivision
THE TERRACE CONDO
MLS area
2420
Security
Entry - Phone/Intercom, Secured Garage/Parking, Smoke Detector(s)
Pets allowed
Yes
55+ community
No

Association

Has association
Yes
Association fee
$1,456 monthly
Estimated monthly dues
$1,456
Amenities
Elevator(s)
Services included
Elevator, Insurance, Maintenance Grounds, Maintenance Structure, Reserve Funds, Roof Repairs, Sewer, Trash, Water
Lease details

Not reported by the listing source.

Location

Area details

City
Miami Beach
County
Miami-Dade
ZIP code
33139
Manufactured home details

Not reported by the listing source.

Financial & listing details

Listing

MLS number
A12029487
Possession
Close Of Escrow
Original list price
$599,000
Parcel number
0242033360050
Annual property tax
$6,685
Tax year
2025
Tax legal description
THE TERRACE CONDO UNIT 5 UNDIV 975.85/7232.26 INT IN COMMON ELEMENTS OFF REC 26092-2051
Additional MLS details

Reported by the listing source

Association Amenities
Elevator(s)
Association Fee Frequency
Monthly
Association Fee Includes
Elevator, Insurance, Maintenance Grounds, Maintenance Structure, Reserve Funds, Roof Repairs, Sewer, Trash, Water
Association
Yes
Bathrooms Total Decimal
2
Bathrooms Total Integer
2
Building Area Total
976
Construction Materials
CBS
County Or Parish
Miami-Dade
Days On Market
143
Elementary School
Miami Beach Fienberg / Fisher K-8
High School
Miami Beach
List Price
599000
Listing Contract Date
2026-06-02
Living Area
976
MLSArea Major
2420
Mls Status
Active
On Market Date
2026-06-02
Photos Count
23
Postal Code
33139
Property Sub Type
Condominium
Property Type
Residential
Rooms Total
0
Security Features
Entry - Phone/Intercom, Secured Garage/Parking, Smoke Detector(s)
Senior Community
No
Standard Status
Active
State Or Province
FL
Status Change Timestamp
2026-06-02T04:00:00Z
Stories Total
4
Subdivision Name
THE TERRACE CONDO
Tax Annual Amount
6685
Bathrooms Full
2
Bedrooms Total
2
Waterfront
No
Bathrooms Half
0
Financial Information: Estimated Monthly Assoc Recurring Fee
1456

Market value

Automated estimate—No licensed valuation source connected
Estimated sales range—Ask Karim for a local market analysis
Estimated rent—No licensed rental valuation source connected

Price history

DateEventPrice
Jun 2, 2026ListedMIAMI REALTORS® MLS$599,000$614/sqft

Public tax history

YearProperty taxesAssessment
2025$6,685—

Payment calculator

Estimated monthly payment$5,421/moIllustrative estimate, not a loan offer.
Principal & interest
$3,108
Property taxes
$557
Insurance
$300
Association dues
$1,456

Live national rate context is displayed below through Mortgage News Daily’s official widget. The calculator rate remains a separate assumption until licensed machine-readable access is connected. This is not a loan offer.

Neighborhood

Area

THE TERRACE CONDO

Miami Beach · Miami-Dade County · 33139

Climate risk

—

No licensed climate-risk source is connected.

Nearby schools

Miami Beach Fienberg / Fisher K-8Elementary
—
Miami BeachHigh
—
School names and districts are MLS-reported when available. Verify attendance boundaries with the school district. Ratings require a licensed ratings provider.

Nearby homes

12 homes

Similar homes

12 homes
MLS listing source

MIAMI REALTORS® MLS · Listing courtesy of VantaSure Realty LLC. All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright ©2026 BeachesMLS, Inc. IDX information is provided exclusively for consumers’ personal, non-commercial use and may be used only to identify prospective properties they may be interested in purchasing or leasing. Terms of use · Equal Housing Opportunity.