NOT LISTED FOR SALE

551 Michigan Ave Unit 223 Miami Beach, FL 33139

Flamingo Neighborhood

Estimated Value: $238,000 - $251,000

1 Bed
1 Bath
504 Sq Ft
$322/mo HOA Fee

Last Sold October 20, 2020

Last sale price $187,500 $372 Per Sq Ft

Est. 31% increase in value since last sale

Current estimated payment $1,921/month

338 Days on Market

Highlights

  • End Unit
  • Bike Room
  • Views
  • South Pointe Elementary School Rated A-
  • Impact Glass
  • Central Air

About This Home

As of October 2020

Spacious 1BD/BA unit in a newly renovated gated building with lots of natural light and closet space. Walking distance to the beach, Ocean Drive, shops and nightlife. Ample street parking available, stainless steel appliances, washer & dryer facilities available on site.
Great investment opportunity, unit currently tenant occupied until October 2020

Last Agent to Sell the Property

Geraldine Espinoza

Metrocoma Realty License #3323661 Listed on: 10/01/2019

Last Buyer's Agent

Susy Menis

MMLS Assoc.-Inactive Member License #3279921

MMLS Assoc.-Inactive Member

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $3,665

Year Built

  • Built in 1945

Lot Details

  • End Unit
  • Northeast Facing Home
  • Fenced

HOA Fees

  • $322 Monthly HOA Fees

Home Design

  • Entry on the 2nd floor
  • Concrete Block And Stucco Construction

Interior Spaces

  • 504 Sq Ft Home
  • 2-Story Property
  • Combination Dining and Living Room
  • Washer
  • Property Views

Kitchen

  • Electric Range
  • Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Full Bathroom

Home Security

Parking

  • On-Street Parking
  • Open Parking

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • Assessor Parcel Number 02-42-03-364-0160

Community Details

Overview

  • 20 Units
  • 551/557 Michigan Condo
  • 551/557 Michigan Condo Subdivision

Amenities

  • Bike Room

Pet Policy

  • Breed Restrictions

Security

  • Complex Is Fenced
  • Impact Glass
  • Fire and Smoke Detector

Property Details

Home Type

Condominium

Est. Annual Taxes

$3,665

Year Built

Built in 1945

Lot Details

0

HOA Fees

$322 per month

Listing Details

  • Property Type: Residential
  • Year Built: 1945
  • Property Sub Type: Condominium
  • Architectural Style: Corner Unit
  • Entry Level: 2
  • Garage Yn: No
  • Horses: No
  • New Construction: No
  • Property Attached Yn: Yes
  • Structure Type: Condo 1-4 Stories, Condo
  • Subdivision Name: 551/557 Michigan Condo
  • Year Built Details: Resale
  • MIAMIRE_PetsAllowedYN: Yes
  • MIAMIRE_MembershipPurchRqdYN: No
  • ResoPropertyType: Residential
  • Special Features: VirtualTour

Interior Features

  • Appliances: Dishwasher, Microwave, Electric Range, Refrigerator, Washer
  • Interior Amenities: Second Floor Entry
  • Full Bathrooms: 1
  • Total Bedrooms: 1
  • Flooring: Other
  • Furnished: Unfurnished
  • Living Area: 504
  • Possible Use: Primary
  • Stories: 2
  • Window Features: Impact Glass
  • Bedroom Features: Entry Level
  • Dining Room Features: Dining/Living Room

Exterior Features

  • View: Other View
  • Construction Type: CBS Construction
  • Direction Faces: Northeast
  • Fencing: Fenced
  • Pool Private: No
  • View: Yes
  • Waterfront: No

Garage/Parking

  • Park Building Name: 551/557 Michigan Condo
  • Open Parking: Yes
  • Parking Features: On Street

Utilities

  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Electric
  • Heating Yn: Yes
  • Security: Smoke Detector, Complex Fenced

Condo/Co-op/Association

  • Association Fee: 322
  • Amenities: Bike Storage
  • Association Fee Frequency: Monthly
  • Association: Yes
  • ResoAssociationFeeFrequency: Monthly

Association/Amenities

  • MIAMIRE_TypeofAssociation: Condo

Lot Info

  • Parcel Number: 02-42-03-364-0160
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Pets Allowed: Restrictions Or Possible Restrictions

Tax Info

  • Tax Year: 2018
  • Tax Annual Amount: 3665

Multi Family

  • Number Of Units In Community: 20
  • Number Of Units Total: 10

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 1, 2019
Closed on
Oct 20, 2020
Sold by
Golymaty Properties Llc
Bought by
Sanchez Juandavid
Seller's Agent
Geraldine Espinoza
Metrocoma Realty
Buyer's Agent
Susy Menis
MMLS Assoc.-Inactive Member
List Price
$199,000
Sold Price
$187,500
Premium/Discount to List
-$11,500
-5.78%
Current Estimated Value
$246,335

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$58,835
Avg. Annual Appreciation
5.58%
Original Mortgage
$140,625
Outstanding Balance
$124,850
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$121,485

Purchase Details

Listed on
Sep 19, 2019
Closed on
Sep 16, 2019
Sold by
Aet Investments I Llc
Bought by
Golymaty Properties Llc
Seller's Agent
Geraldine Espinoza
Metrocoma Realty
Buyer's Agent
Anna Zibaryeva
Trident Real Estate, Inc
Sold Price
$1,350

Purchase Details

Closed on
May 25, 2016
Sold by
Aet Investments Llc
Bought by
Aet Investments I Llc

Purchase Details

Closed on
May 5, 2015
Sold by
Inversiones South Beach Llc
Bought by
Aet Investments Llc
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Sanchez Juandavid $187,500 All Homes Title Llc
Golymaty Properties Llc $182,500 Attorney
Aet Investments I Llc -- Attorney
Aet Investments Llc $187,100 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Sanchez Juandavid $140,625
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/20/2020 10/20/20 Sold $187,500 +13788.9% $372 / Sq Ft
09/03/2020 09/03/20 Pending -- -- --
10/23/2019 10/23/19 Rented $1,350 -1.8% --
10/11/2019 10/11/19 Under Contract -- -- --
10/04/2019 10/04/19 Price Changed $1,375 0.0% $3 / Sq Ft
10/01/2019 10/01/19 For Sale $199,000 0.0% $395 / Sq Ft
09/17/2019 09/17/19 For Rent $1,400 +3.7% --
07/01/2018 07/01/18 Rented $1,350 -3.6% --
06/13/2018 06/13/18 For Rent $1,400 +3.7% --
08/22/2017 08/22/17 Rented $1,350 -3.2% --
08/03/2017 08/03/17 Price Changed $1,395 -6.7% $3 / Sq Ft
06/12/2017 06/12/17 For Rent $1,495 -- --
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 $3,639 $187,877 -- --
2024 $3,487 $234,846 -- --
2023 $3,487 $181,876 $0 $0
2022 $3,206 $165,342 $0 $0
2021 $2,902 $150,311 $0 $0
2020 $2,670 $137,900 $0 $0
2019 $3,818 $197,000 $0 $0
2018 $3,699 $196,733 $0 $0
2017 $3,746 $196,733 $0 $0
2016 $3,538 $182,160 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • G

    Seller's Agent in 2020

    Geraldine Espinoza

    Metrocoma Realty

    (786) 364-8695

    2 in this area

    4 Total Sales

    Geraldine Espinoza
    Section Image

  • S

    Buyer's Agent in 2020

    Susy Menis

    MMLS Assoc.-Inactive Member

    Section Image
  • Anna Zibaryeva

    Buyer's Agent in 2019

    Anna Zibaryeva

    Trident Real Estate, Inc

    (929) 841-4609

    13 in this area

    50 Total Sales

    Anna Zibaryeva
    Section Image
  • Michelle Halfon

    Seller's Agent in 2018

    Michelle Halfon

    Compass Florida, LLC

    (305) 776-2174

    15 in this area

    40 Total Sales

    Michelle Halfon
    Section Image

  • F

    Seller Co-Listing Agent in 2018

    Fredy Urmeneta

    MMLS Assoc.-Inactive Member

  • Laurent Nangniot

    Buyer's Agent in 2018

    Laurent Nangniot

    Realty Hub

    (954) 643-3418

    1 in this area

    7 Total Sales

    Laurent Nangniot
    Section Image
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Map

Source: MIAMI REALTORS® MLS

MLS Number: A10749010

MIAMI REALTORS® MLS

APN: 02-4203-364-0160

Florida Miami/Dade County Miami Beach 33139 Flamingo

551 Michigan Ave Unit 223, Miami Beach, FL

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