Well-maintained unit in a condominium building with all required insurance in place. The association is currently undergoing its recertification process, which will include capital improvements expected to enhance the building's overall condition and value. These improvements will be funded through the association's existing financial structure, and no special assessment is anticipated. The unit is currently rented on a month-to-month basis around $2,300, providing immediate income. For investors, the tenant may execute a one-year lease upon closing if desired. Association approval is fast, making this a strong opportunity for both end users and investors.
Property Features
Bedrooms
Bathrooms
- Total Bathrooms: 2
- Full Bathrooms: 1
- 1/2 Bathrooms: 1
Interior Features
- BedroomOnMainLevel
- Elevator
Appliances
- ElectricRange
- ElectricWaterHeater
- Microwave
- Refrigerator
- Laundry Features: CommonArea
Heating and Cooling
- Cooling Features: CentralAir
- Heating Features: Central, Electric
- Heating: Yes
Exterior and Lot Features
- Balcony
- Patio And Porch Features: Balcony, Open
Pool and Spa
- Pool Features: Association
Garage and Parking
- Parking Features: Assigned, OneSpace
Homeowners Association
- Association: Yes
- Association Amenities: Laundry, Pool, Elevators
- Association Fee: 468
- Association Fee Frequency: Monthly
- Association Fee Includes: AssociationManagement, CommonAreas, Laundry, MaintenanceGrounds, Parking, Pools, Sewer, Water
- Calculated Total Monthly Association Fees: 468
- Senior Community: No
School Information
- Elementary School: Fairlawn
- High School: South Miami
- Middle School: West Miami
Rental Info
Other Property Info
- Annual Tax Amount: 3908
- Source Listing Status: Active
- County: Miami-Dade
- Tax Year: 2025
- Restrictions: NoRv, NoTruck, OkToLease
- Source Property Type: Residential
- Area: 40
- Property Subtype: condo
- Source Neighborhood: MADRID TERRACE CONDO
- Parcel Number: 01-40-02-028-0420
- Postal City: Miami
- Postal Code Plus 4: 2841
- Public Survey Range: 40
- Public Survey Section: 20
- Public Survey Township: 1
- Subdivision: MADRID TERRACE CONDO
- Property Subtype: Condominium
Building and Construction
- Total Square Feet Living: 813
- Year Built: 1973
- Building Area Total: 813
- Construction Materials: Block
- Entry Level: 4
- Entry Location: 4
- Property Age: 53
- Property Attached: Yes
- Property Condition: UpdatedRemodeled
- Building Total Stories: 4
- Year Built Details: Effective Year Built
Home Features
- Security Features: ElevatorSecured, FireAlarm, SmokeDetectors