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Condominium
$160,000$340 / sqft
842 Meridian Ave # 3D, Miami Beach FL 33139
Listed
1
Bedrooms
1
Bathrooms
470 sqft
Interior
1925
Year built
$649 / mo
HOA
Condominium
Type
About this home
Exceptional Miami Beach Opportunity, PRICED TO SELL AT $160,000! The property was originally purchased for $230,000 and is now being offered at a significant discount, presenting an attractive opportunity to own in Miami Beach at an exceptional price point. The price reflects the condominium's current building status, including a pending building recertification and the possibility of a future special assessment. Buyer is encouraged to conduct independent due diligence regarding the building's financial and structural condition. Bright and charming corner 1-bedroom, 1-bath residence located on the top floor of the Patricia Condominium, a classic Art Deco building in the heart of Miami Beach. Enjoy beautiful garden and Miami skyline views, plus stunning sunsets. Ideally located just minutes from the beach and only two blocks from Flamingo Park, with easy access to dining, shopping, entertainment, and more. The unit is currently leased for $1,700/month through April 2, 2027, offering immediate rental income.
Features
- Third Floor Entry
- Courtyard
- Garden View
Leasing
- Minimum lease
- 365 days
- Leases permitted per year
- 1
- Ok To Lease
- Okay To Lease 1st Year
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–$3,800.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.