945 Michigan Avenue 5, Miami Beach, FL 33139

$599,000

Property Type: Residential Bedrooms: 2 Baths: 2 Square Footage: 976 Status: Coming Soon

Current Price: $599,000 List Date: 6/02/2026 Last Modified: 6/10/2026

Overview

Description

Amazing Opportunity in Miami Beach!Why should I buy this condo? Rare chance to own one of the best values currently available in the area. Built in 2007, this newer boutique building offers features that are difficult to find at this price point.Association requirements are buyer-friendly with no minimum credit score requirement, no income verification requirement, and no minimum down payment requirement imposed by the association. Unlike many buildings in the area, you don't need a large down payment to buy. Qualified buyers may finance with as little as 3%-5% down, potentially saving tens of thousands of dollars compared to condos requiring 20%-25% or more down. Many condos in the same price range are located in much older buildings dating back to the 1950s, while this property combines modern construction with extensive recent building improvements.The building features assigned indoor parking, two beautiful rooftop terraces, impact windows and doors, and has recently completed maj ... (Read more)

Listing Details MLS# A12029487

General Property Information

Total Units In Building: 8
Unit Floor #: 3
Property Sub Type: Condominium
Bedrooms Total: 2
Bathrooms Total: 2
Bathrooms Full: 2
Building Area Main: 976
Living Area Main: 976
Adjusted Area Main: 976
Year Built: 2007
Garage YN: Yes
Attached Garage YN: Yes
Garage Spaces: Yes
Covered Spaces: Yes
Senior Community YN: No
Outdoor Living Spaces YN: Yes
Stories Total: 4

Property Features

Application Information: 1-2 Weeks Approval; Association Approval Required; Rapid Approval Association Fee Includes: Elevator; Insurance; Maintenance Grounds; Maintenance Structure; Reserve Funds; Roof Repairs; Sewer; Trash; Water Electric: Circuit Breakers Flooring: Tile; Wood Leasing Permitted Details: Okay To Lease Parking Features: Garage Door Opener; Under Building; Attached; Attached Garage; Garage Property Condition: Resale Appliances: Dishwasher; Disposal; Dryer; Electric Range; Microwave; Refrigerator; Washer Water Heater Details: Electric Water Heater Construction Materials: CBS Association Type: Condominium Heating: Electric Interior Features: Elevator Listing Terms: Cash; Conventional; Cryptocurrency Pets Allowed YN: Yes Possession: Close Of Escrow Security Features: Entry - Phone/Intercom; Secured Garage/Parking; Smoke Detector(s) Tax Information: City/County View: Garden Window Features: Sliding Showing Requirements: Appointment Only; Call Listing Agent Outdoor Living Spaces: Balcony Balcony Details: Balcony - Open

Contract Information

Comp Sale YN: No
Original List Price: 599000
Occupant Type: Tenant

Location and Legal

Country: United States
County Or Parish: Miami-Dade
County Parish Name: Miami-Dade
Street Number: 945
Street Name: Michigan
Street Suffix: Avenue
Unit Number: 5
City Name: Miami Beach
Municipal Code: 2
State Or Province: FL
Postal Code: 33139
Postal Code +4: 5387
Postal Zip: 33139
Subdivision Name: THE TERRACE CONDO
Area: 2420
Elementary School: Miami Beach Fienberg / Fisher K-8
High School: Miami Beach
Special Assessment YN: Yes
Parcel Number: 0242033360050
Subdivision Number: 336
Flood Zone: AE

Financial Information

Association YN: Yes
Association Fee: 1456
Association Fee Frequency: Monthly
Application Required YN: Yes
Membership Fee Required YN: No
Tax Annual Amount: 6685
Tax Year: 2025
Tax Legal Description: THE TERRACE CONDO UNIT 5 UNDIV 975.85/7232.26 INT IN COMMON ELEMENTS OFF REC 26092-2051

Status Change Information

Status Change Date: 2026-06-05

More Information

Application Fee Details

Application Fee Required: Yes
Application Fee: 150

Leasing Permitted Details

Leasing Permitted YN: Yes
Okay To Lease: Yes

Parking Information

Open Parking Spaces: Yes

Leasing Restrictions

Leasing - Max Times Per Year: Yes
Leasing - Minimum Number of Days: 365

Storm Protection

Impact Glass: Complete

Price Calculations

Current Price To SqFt: 613.72

Section Details

Parcel Number MLX: 0050

Originating Details

Originating System Key: 503248080
Originating System ID: M00000151

Office/Member Information

DXORIGMLSID: SEF

Application Information

1-2 Weeks Approval: Yes
Association Approval Required: Yes
Rapid Approval: Yes

Amenities

Elevator(s): Yes

Association Fee Includes

Elevator: Yes
Insurance: Yes
Maintenance Grounds: Yes
Maintenance Structure: Yes
Reserve Funds: Yes
Roof Repairs: Yes
Sewer: Yes
Trash: Yes
Water: Yes

Electric

Circuit Breakers: Yes

Flooring

Tile: Yes
Wood: Yes

Parking Features

Garage Door Opener: Yes
Under Building: Yes
Attached: Yes
Attached Garage: Yes
Garage: Yes

Property Condition

Resale: Yes

Possession

Close Of Escrow: Yes

View

Garden: Yes

Heating

Electric: Yes

Window Features

Sliding: Yes

Appliances

Dishwasher: Yes
Disposal: Yes
Dryer: Yes
Electric Range: Yes
Microwave: Yes
Refrigerator: Yes
Washer: Yes

Construction Materials

CBS: Yes

Interior Features

Elevator: Yes

Listing Terms

Cash: Yes
Conventional: Yes
Cryptocurrency: Yes

Security Features

Entry - Phone/Intercom: Yes
Secured Garage/Parking: Yes
Smoke Detector(s): Yes

Water Heater Details

Electric Water Heater: Yes

Cooling

Electric: Yes

Association Type

Condominium: Yes

Showing Requirements

Appointment Only: Yes
Call Listing Agent: Yes

Master Bedroom/Bath

Other: Yes

Pets Allowed YN

Yes: Yes

Tax Information

City/County: Yes

Outdoor Living Spaces

Balcony: Yes

Balcony Details

Balcony - Open: Yes

Listing Office: VantaSure Realty LLC

Last Updated: June - 10 - 2026

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945 Michigan Avenue 5, Miami Beach, FL 33139 (MLS# A12029487)