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Waterfront · Condominium
$400,000$421 / sqft
5 Island Ave # 6A, Miami Beach FL 33139
Listed
1
Bedrooms
2
Bathrooms
950 sqft
Interior
1967
Year built
$1,425 / mo
HOA
Condominium
Type
About this home
Oversized 950 sq ft 1BR/1.5BA at the Morris Lapidus designed Island Terrace on Belle Isle. Generous proportions, abundant in unit storage plus additional private storage, dedicated parking, and a private balcony with greenery, bay and downtown sunset views. In original condition and ready for your vision, this is an opportunity to create a truly special Miami Beach home in one of the area's most desirable neighborhoods. Island Terrace offers bayfront living with a waterfront pool, gym and full service building conveniences. Adjacent to Belle Isle Park, across from The Standard Spa, and just moments from Sunset Harbour's restaurants, shops and fitness studios, with Lincoln Road nearby. Exceptional space, location and potential on Belle Isle.
Features
- First Floor Entry
- Closet Cabinetry
- East Of Us1
- Other
- Open Balcony
- Bay
- Intracoastal View
Leasing
- Minimum lease
- 365 days
- Leases permitted per year
- 1
- No Daily Rentals
- Renting Limited
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.