$499,000
$50K PRICE DROP

503 12th St Unit 5 Miami Beach, FL 33139

Flamingo Neighborhood

Estimated payment $3,561/month

Total Views 3,748
2 Beds
2 Baths
980 Sq Ft
$509 Price per Sq Ft

Highlights

  • Wood Flooring
  • High Impact Door
  • Card or Code Access
  • Garden View
  • Bathtub
  • Central Heating and Cooling System

About This Home

Best value 2 bedroom 2 bathroom in South Beach for this size. Spacious 980 square foot first-floor Art Deco condo in the heart of South Beach, just steps from Washington Avenue and a short walk to the beach.
Bright unit with excellent natural light and great layout, offering a strong value-add opportunity for buyers looking to renovate and create equity.
Located in a gated community with exceptionally low HOA for a unit of this size and no current assessments, keeping monthly carrying costs far below comparable properties in the area. Flexible rental policy allows up to four leases per year with a 90 day minimum, making it ideal for both end-users and investors.
Features include original Florida pine wood floors, decorative fireplace, impact windows, and newer AC system. Oversized kitchen layout provides ample space for redesign and modernization.
Additional highlights include assigned storage, extra basement storage, and access to a shared outdoor yard area. City garage parking conveniently located nearby. Washer and dryer installation permitted per association.
Opportunity to own one of the largest 2/2 floor plans in this price range in South Beach with low carrying costs, no assessments, and strong upside potential.

Listing Agent

Michael Krimus

Krimus Realty, LLC. License #3552368 Listed on: 02/22/2026

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $3,781

Year Built

  • Built in 1940

HOA Fees

  • $550 Monthly HOA Fees

Home Design

  • Garden Apartment
  • Entry on the 1st floor

Interior Spaces

  • 980 Sq Ft Home
  • Property has 1 Level
  • Wood Flooring
  • Garden Views
  • Gas Range

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Full Bathrooms
  • Bathtub

Home Security

Parking

  • On-Street Parking
  • Open Parking

Schools

  • Nautilus Middle School
  • Miami Beach High School

Additional Features

  • South Facing Home
  • Central Heating and Cooling System

Listing and Financial Details

  • Assessor Parcel Number 02-32-34-110-0050

Community Details

Overview

  • Baylis Condo
  • Baylis Condo Subdivision

Pet Policy

  • Pets Allowed

Security

  • Card or Code Access
  • High Impact Door
  • Fire and Smoke Detector

Property Details

Home Type

Condominium

Est. Annual Taxes

$3,781

Year Built

Built in 1940

Lot Details

0 Sq Ft Lot

HOA Fees

$550 per month

Listing Details

  • Property Type: Residential
  • Year Built: 1940
  • Property Sub Type: Condominium
  • Architectural Style: Garden Apartment
  • Entry Level: 1
  • Garage Yn: No
  • Horses: No
  • Unit Levels: 1
  • New Construction: No
  • Property Attached Yn: Yes
  • Structure Type: Condo 1-4 Stories, Condo
  • Subdivision Name: BAYLIS CONDO
  • Year Built Details: Effective Year Built
  • MIAMIRE_PetsAllowedYN: Yes
  • MIAMIRE_MembershipPurchRqdYN: No
  • CurrentPrice: 499000
  • InternetRemarks: Lowest HOA for 2/2 first floor Art Deco condo in prime South Beach near Washington and the beach. Gated, 980 sq ft, courtyard view.
  • ShowingTimeFlag: Yes
  • Special Features: VirtualTour

Interior Features

  • Appliances: Gas Range
  • Interior Amenities: First Floor Entry
  • Full Bathrooms: 2
  • Total Bedrooms: 2
  • Door Features: High Impact Doors
  • Flooring: Other, Wood
  • Living Area: 980
  • Stories: 2
  • Bedroom Features: At Least 1 Bedroom Ground Level, Entry Level, Primary Bath Tub, Primary Bedroom Ground Level

Exterior Features

  • View: Garden View
  • Construction Type: Concrete Block Construction
  • Direction Faces: South
  • Pool Private: No
  • View: Yes
  • Waterfront: No

Garage/Parking

  • Park Building Name: BAYLIS CONDO
  • Open Parking: Yes
  • Parking Features: On Street

Utilities

  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Central
  • Heating Yn: Yes
  • Security: Fire Alarm, Card Entry

Condo/Co-op/Association

  • Association Fee: 550
  • Amenities: None
  • Association Fee Frequency: Monthly
  • Association: Yes

Association/Amenities

  • MIAMIRE_TypeofAssociation: Condo

Schools

  • High School: Miami Beach
  • Middle Or Junior School: Nautilus

Lot Info

  • Parcel Number: 02-32-34-110-0050

Rental Info

  • Pets Allowed: Yes

Tax Info

  • Tax Year: 2025
  • Tax Annual Amount: 3781

Map

Range of Values:

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Value Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $3,781 $243,188
2024 $3,559 $236,335
2023 $3,559 $229,452 $0 $0
2022 $3,411 $222,769 $0 $0
2021 $3,386 $216,281 $0 $0
2020 $3,340 $213,295 $0 $0
2019 $3,250 $208,500 $0 $0
2018 $3,076 $204,613 $0 $0
2017 $3,039 $200,405 $0 $0
2016 $3,025 $196,284 $0 $0
2015 $3,061 $194,920 $0 $0
2014 $3,112 $193,374 $0 $0
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
07/01/2026 07/01/26 Price Changed $499,000 -6.7% $509 / Sq Ft
04/12/2026 04/12/26 Price Changed $535,000 -2.6% $546 / Sq Ft
02/22/2026 02/22/26 For Sale $549,000 -- $560 / Sq Ft
Source: MIAMI REALTORS® MLS

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Type Sale Price Title Company
Interfamily Deed Transfer -- Attorney
Deed $113,200 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Loan Amount Loan Type
Open $239,000 Unknown
Closed $216,000 Unknown
Closed $191,250 Unknown
Closed $17,000 New Conventional
Closed $148,000 New Conventional
Source: Public Records

Source: MIAMI REALTORS® MLS

MLS Number: A11968062

MIAMI REALTORS® MLS

APN: 02-3234-110-0050

Florida Miami/Dade County Miami Beach 33139 Flamingo

503 12th St Unit 5, Miami Beach, FL

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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Michael Krimus
Listing Agent
Michael Krimus
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Krimus Realty, LLC.
(645) 241-6398
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