THE TERRACE CONDO
945 Michigan Ave # 5, Miami Beach FL 33139
2 beds · 2 baths · 976 ft²
$599,000
Est. Payment $3,188/mo
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.
- —
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Market insights for Miami Beach
Live MLS-derived activity. Forecast is a conservative rule-of-thumb estimate — not a guarantee.
Sellers market
August 2026
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).
| 6/2/2026 | Listed 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
Estimated Monthly Payment
$3,837/mo
Principal & Interest
$3,188
Property Tax
$499
Insurance
$150
HOA
$0
Estimates only. Actual payment depends on credit, lender, insurance carrier, and FL/Miami-Dade specifics. Contact Rangely for a precise quote.
The data relating to real estate for sale on this website comes in part from the Southeast Florida Multiple Listing Service. MLS Data is deemed reliable, but is not guaranteed accurate by MIAMI REALTORS®.
Accuracy of listing information is not guaranteed. Listing information is provided for personal consumer, non-commercial use, solely to identify potential properties for potential purchase. All other use is strictly prohibited and may be a violation of federal and state law.
Copyright Southeast Florida MLS a/k/a SEFMLS © 2026.
Updated within 24 hours
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