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Waterfront · Condominium
$696,000$540 / sqft
5601 Collins Ave # 520, Miami Beach FL 33140
Listed
2
Bedrooms
2
Bathrooms
1,290 sqft
Interior
1968
Year built
$1,651 / mo
HOA
Condominium
Type
About this home
Spectacular fully renovated and beautifully furnished residence, first row on the ocean with direct beach access, breathtaking unobstructed Intracoastal views, and the rare advantage of short-term rental flexibility in one of Miami Beach's most desirable waterfront locations. This designer-inspired unit has been completely remodeled from top to bottom with impeccable attention to detail. Features include a stunning modern kitchen, fully renovated bathrooms, upgraded flooring throughout, elegant lighting, custom window treatments with blackout shades, and tasteful high-end furnishings carefully selected to create a sophisticated yet comfortable living environment. The bright and open layout is filled with natural light and showcases magnificent water views from the moment you enter. Whether you're looking for a primary residence, a vacation getaway, or an income-producing investment, this exceptional property offers the best of both worlds. Enjoy your own private Miami Beach retreat while taking advantage of the building's short-term rental policy and excellent income potential. The Pavilion has completed major building improvements, including new elevators, renovated hallways, updated common areas, and significant structural enhancements. Maintenance includes cable, high-speed internet, and water. For showings and additional information, please see Broker Remarks.
Features
- Other
- Open Balcony
- Bay
- Intracoastal View
Leasing
- Minimum lease
- 30 days
- Leases permitted per year
- 12
- Ok To Lease
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.