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Condominium
$300,000$517 / sqft
1550 Drexel Ave # 202, Miami Beach FL 33139
Listed
1
Bedrooms
1
Bathrooms
580 sqft
Interior
1925
Year built
$867 / mo
HOA
Condominium
Type
About this home
Beautifully renovated corner unit in the heart of South Beach, filled with natural light and surrounded by lush tropical greenery. Enjoy charming street views from the living room through expansive corner windows, creating a bright and inviting atmosphere. This stylish residence features brand-new kitchen cabinets, appliances, tile flooring throughout, spacious closets, and is being sold fully furnished, including a large flat-screen TV. Washer/dryer available both inside the unit and within the building for added convenience. Located in a charming 16-unit boutique, pet-friendly building, this unit offers one of the best locations in South Beach - just 1 block from Lincoln Road, 1 block from Española Way, and only 2 blocks from the beach. Flamingo Park, restaurants, cafés, bars, CVS, Walgreens, and everyday conveniences are all within walking distance. The building has recently completed major upgrades including a new roof, concrete restoration, and fresh exterior painting, adding long-term value and appeal. Perfect as a primary residence, vacation getaway, or investment property. Rental rates in this highly desirable neighborhood start at $2,000+ per month.
Features
- Second Floor Entry
- Closet Cabinetry
- None
- Garden View
Leasing
- Minimum lease
- 365 days
- Leases permitted per year
- 1
- 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 $2,350–$4,500.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.