NOT LISTED FOR SALE

1024 Ocean Dr Unit A502 Miami Beach, FL 33139

Lummus Park Neighborhood

Estimated Value: $326,000 - $403,000

-- Bed
1 Bath
516 Sq Ft
$1,226/mo HOA Fee

Last Sold August 24, 2018

Last sale price $256,500 $497 Per Sq Ft

Est. 44% increase in value since last sale

Current estimated payment $3,665/month

4 Days on Market

Highlights

  • Ocean Front
  • Furnished
  • Breakfast Area or Nook
  • Bar or Lounge
  • Community Pool
  • 2-minute walk to Lummus Park

About This Home

As of August 2018

Amazing SOBE location, right on World Famous Ocean Drive, view of the ocean from your balcony. Unit is fully furnished and in good condition. Earn top dollar when your not here or use it as a vacation retreat.

Last Agent to Sell the Property

Louis Romano

Real Estate Asset Disp Corp. License #0525123 Listed on: 07/30/2018

Last Buyer's Agent

Louis Romano

Real Estate Asset Disp Corp. License #0525123 Listed on: 07/30/2018

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $4,805

Year Built

  • Built in 1964 | Remodeled

Lot Details

  • Ocean Front
  • Privacy Fence

HOA Fees

  • $1,226 Monthly HOA Fees

Home Design

  • Condo Hotel
  • Concrete Block And Stucco Construction

Interior Spaces

  • 516 Sq Ft Home
  • Furnished
  • Built-In Features
  • Ocean Views

Kitchen

  • Breakfast Area or Nook
  • Dishwasher

Flooring

  • Carpet
  • Ceramic Tile

Bedrooms and Bathrooms

  • 1 Full Bathroom
  • Bathtub and Shower Combination in Primary Bathroom

Home Security

Parking

  • On-Street Parking
  • Open Parking

Additional Features

  • Balcony
  • Central Heating and Cooling System

Listing and Financial Details

  • Assessor Parcel Number 02-42-03-302-0080

Community Details

Overview

  • Strand Condos
  • The Strand On Ocean Drive Subdivision
  • 5-Story Property

Amenities

  • Bar or Lounge
  • Lobby

Recreation

  • Community Pool

Pet Policy

  • No Pets Allowed

Building Details

Security

  • Secure Elevator
  • Clear Impact Glass
  • High Impact Door

Property Details

Home Type

Condominium

Est. Annual Taxes

$4,805

Year Built

Built in 1964 | Remodeled

Lot Details

0

HOA Fees

$1,226 per month

Listing Details

  • Property Type: Residential
  • Year Built: 1964
  • Property Sub Type: Condominium
  • Directions: 5th Street East to Ocean Drive, Left at Ocean to 10th Street. Hotel is on the left
  • Entry Level: 5
  • Garage Yn: No
  • Horses: No
  • Inclusions: None
  • New Construction: No
  • Property Attached Yn: Yes
  • Structure Type: Condo-Hotel, Condo
  • Subdivision Name: THE STRAND ON OCEAN DRIVE
  • Year Built Details: Condo-Hotel
  • MIAMIRE_PetsAllowedYN: No
  • MIAMIRE_MembershipPurchRqdYN: No
  • ResoPropertyType: Residential
  • Special Features: VirtualTour

Interior Features

  • Appliances: Dishwasher, Refrigerator
  • Interior Amenities: Lobby, Built-in Features
  • Full Bathrooms: 1
  • Door Features: High Impact Doors
  • Flooring: Carpet, Ceramic Floor
  • Furnished: Furnished
  • Living Area: 516
  • Possible Use: Investment
  • Stories: 5
  • Window Features: Clear Impact Glass
  • Bedroom Features: Entry Level
  • Dining Room Features: Breakfast Area
  • Master Bathroom Features: Combination Tub & Shower

Exterior Features

  • View: Ocean View
  • Exterior Features: Open Balcony
  • Construction Type: CBS Construction
  • Fencing: Privacy
  • Patio And Porch Features: Open Balcony
  • Pool Private: No
  • Property Condition: Updated/Remodeled
  • View: Yes
  • Waterfront Features: Ocean Front
  • Waterfront: Yes

Garage/Parking

  • Park Building Name: STRAND
  • Open Parking: Yes
  • Parking Features: On Street

Utilities

  • Cooling: Central Air
  • Cooling Y N: Yes
  • Electric: Circuit Breakers
  • Heating: Central
  • Heating Yn: Yes
  • Security: Elevator Secure, Other

Condo/Co-op/Association

  • Association Fee: 1226
  • Amenities: Bar, Elevator(s), Pool
  • Association Fee Frequency: Monthly
  • Association: Yes
  • ResoAssociationFeeFrequency: Monthly

Association/Amenities

  • MIAMIRE_TypeofAssociation: Condo

Lot Info

  • Parcel Number: 02-42-03-302-0080
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Pets Allowed: No

Multi Family

  • Maintenance Expense: 1226

Tax Info

  • Tax Year: 2017
  • Tax Annual Amount: 4805

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 10, 2019
Sold by
Mounayyer Salem and Irrevocable Trust Agmt By Avi
Bought by
Strand A502 Llc
Current Estimated Value
$368,107

Purchase Details

Closed on
Jan 14, 2019
Sold by
Marks Matthew and Lee Marks Bora
Bought by
Mounayyer Salem and Avi Nakash Irrevocable Trust

Purchase Details

Listed on
Jul 30, 2018
Closed on
Aug 24, 2018
Sold by
Strand Rental Llc
Bought by
Marks Matthew and Lee Marks Bora
Seller's Agent
Louis Romano
Real Estate Asset Disp Corp.
Buyer's Agent
Louis Romano
Real Estate Asset Disp Corp.
List Price
$269,000
Sold Price
$256,500
Premium/Discount to List
-$12,500
-4.65%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.00%

Purchase Details

Closed on
Dec 20, 2017
Sold by
Labrada Emilio Bernal and Labrada Emilio
Bought by
Deutsche Bank National Trust Co and Impac Secured Assets Corp

Purchase Details

Closed on
Sep 22, 2005
Sold by
Ocean Blvd Llc
Bought by
Labrada Emilio

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$448,000
Interest Rate
6.14%
Mortgage Type
Fannie Mae Freddie Mac
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Strand A502 Llc -- Attorney
Mounayyer Salem $265,000 Highpoint Title & Escrow Llc
Marks Matthew $255,000 Hartford Title & Escrow Llc
Deutsche Bank National Trust Co $280,000 Attorney
Labrada Emilio $640,000 First American Title Ins Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Labrada Emilio $448,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/24/2018 08/24/18 Sold $256,500 -4.6% $497 / Sq Ft
08/03/2018 08/03/18 Pending -- -- --
07/30/2018 07/30/18 For Sale $269,000 -- $521 / Sq Ft
Source: MIAMI REALTORS® MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $5,079 $287,743 -- --
2024 $5,424 $261,585 -- --
2023 $5,424 $237,805 $0 $0
2022 $4,192 $216,187 $0 $0
2021 $3,795 $196,534 $0 $0
2020 $4,136 $213,624 $0 $0
2019 $4,600 $237,360 $0 $0
2018 $4,745 $252,324 $0 $0
2017 $4,805 $252,324 $0 $0
2016 $5,763 $296,700 $0 $0
2015 $5,721 $283,800 $0 $0
2014 $5,242 $258,000 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Louis Romano

    Seller's Agent in 2018

    Louis Romano

    Real Estate Asset Disp Corp.

    (305) 261-9700

    3 Total Sales

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Map

Source: MIAMI REALTORS® MLS

MLS Number: A10511980

MIAMI REALTORS® MLS

APN: 02-4203-302-0080

Florida Miami/Dade County Miami Beach 33139 Lummus Park

1024 Ocean Dr Unit A502, Miami Beach, FL

This home is located at 1024 Ocean Dr Unit A502, Miami Beach, FL 33139 since 30 July 2018 and is currently estimated at $365,347, approximately $708 per square foot. This property was built in 1964. 1024 Ocean Dr Unit A502 is a home located in Miami-Dade County with nearby schools including Fienberg-Fisher K-8 Center, Nautilus Middle School, and Miami Beach Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MIAMI REALTORS® MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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