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Waterfront · Condominium
$6,150,000$3,815 / sqft
5775 Collins Ave # 1602, Miami Beach FL 33140
Listed
2
Bedrooms
3
Bathrooms
1,612 sqft
Interior
2021
Year built
$4,540 / mo
HOA
Condominium
Type
About this home
Set within 57 Ocean, this sophisticated residence (Unit 1602) features a flexible 2-bedroom + den layout with 3 full bathrooms — the den easily converts into a third bedroom, offering effortless adaptability for families, guests, or a home office. Both the master suite and second bedroom capture direct ocean views, while a generous 45-foot terrace spans the living and dining area for effortless indoor-outdoor entertaining. Residents enjoy this boutique building’s resort-style amenities, including a private beach and pool service, 24/7 valet and security, concierge, personal fitness trainers, spa services, and a private chef. Ideally positioned on Millionaire’s Row with 220 feet of pristine private beachfront. Contact the listing agent to schedule your private showing.
Features
- Other
- Open Balcony
- Ocean View
- Direct Ocean
- Water View
Leasing
- Minimum lease
- 180 days
- Leases permitted per year
- 2
- 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.
Location
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 2-bed rentals in Miami Beach, from 200 active listings; the middle half ask $3,595–$10,000.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.