THE TERRACE CONDO

945 Michigan Ave # 5, Miami Beach FL 33139

2 beds · 2 baths · 976 ft²

For Sale · Active Listing

$599,000

Est. Payment $3,188/mo

MLS Sheet Video

2

Bedrooms

2

Bathrooms

976

Sq. Ft.

2007

Year Built

1

Garage

4

Stories

41

Days on Market

Description

This condo it is rented till August 2027. 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 major upgrades including building recertification/inspection, concrete restoration work, new roof, and a complete interior and exterior repainting. Inside, the unit has been updated with brand-new flooring in both bedrooms, a new A/C unit, and includes a washer, dryer, dishwasher, and more. Spacious layout, modern construction, and a prime Miami Beach location make this an exceptional value ! Schedule your showing today.

Facts

MLS#
A12029487
Subdivision
THE TERRACE CONDO
Property Type
Residential
Property Sub Type
Condominium
Year Built
2007
Lot Size
0 sqft
Sq. Ft.
976 ft²
Sq. Mt.
91 m²
Price per sq. ft.
$614/ft²
Price per sq. mt.
$6,582/m²
Stories
4
Garage
1 spaces
Pool
Days on Market
41 days
Listed
Jun 2, 2026
Last Updated
Jul 23, 2026
Price/Lot Sq.Ft.

Comparable homes

Same ZIP, similar price + bedrooms.

Market insights for Miami Beach

Live MLS-derived activity. Forecast is a conservative rule-of-thumb estimate — not a guarantee.

Sellers market

August 2026

100/100
Buyers marketSellers market

50

Median days to sold

+4.5%

1-year price forecast (est.)

Price & tax history

From the live MIAMI MLS feed. Older history requires the ListingHistory resource (not yet enabled).

6/2/2026Listed for sale$599,000

History reflects fields present on the live MLS record. Full multi-year history requires the MIAMI ListingHistory resource (not yet enabled).

Location

945 Michigan Ave # 5, Miami Beach FL 33139Directions

Estimated Monthly Payment

$3,837/mo

Principal & Interest

$3,188

Property Tax

$499

Insurance

$150

HOA

$0

20% ($119,800)
7.00%
30 years
1.00% (FL avg ~1.0%)
$0/mo
$150/mo

Estimates only. Actual payment depends on credit, lender, insurance carrier, and FL/Miami-Dade specifics. Contact Rangely for a precise quote.

Rangely Adames

Rangely Adames

Sales Associate | Sunland Group

Hablo Español

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