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For Sale
Active
901 Meridian Ave, Unit 104, Miami Beach, FL 33139
2 Bedrooms
2 Bathrooms
420 SQFT
$750,000.00
/Price
Est. Monthly Payment $7,589
This furnished junior one-bedroom apartment is in the heart of everything South Beach offers, just minutes away from Flamingo Park, Ocean Drive, and Lincoln Road! Investors will see good ROI after purchasing this unit with a great tenant in place until February 2023, paying $1,750 per month. The unit features a closed-in sleeping space with a closet, a large in-wall A/C unit, ceiling fans in the living room and sleeping area, a new all-in-one washer/dryer, and a back patio. Street parking permits are available to South Beach residents. The building is pet-friendly for up to 20 pounds and is well maintained by Blue Sky Management. Cash or conventional loans with 25% down for primary residence or 30% for an investment loan.
4500+
Views
664
3D Tours
8
Showings
-
Offers
49
DOM
Date Listed
Last Updated
February 3, 2025 at 7:15:40 PM
February 3, 2025 at 7:15:41 PM
Discover the Property
Occupancy
Tenant Occupied
Furnishings
Partly Furnished
Parking
Street Parking
Washer/Dryer
In-Unit
Taxes (Prior Year)
$2,201.00
Date Available
MLS#
A11221280
Buyer agent compensation
Days on Market
49 Days
Overview
Condo Building
Meridian Court
Building Overview
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Year Built
2
Total Units
14
Floors
2
Last Updated
July 12, 2024 at 1:19:13 AM
Added
May 24, 2021 at 3:31:10 PM
This information has been gathered from the owner, public data, and other sources. There may be some inaccuracies or outdated information.
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Walkability
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Renters
0%
Owners
Buyers or their agents need to provide the following:
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Purchase and Sale Agreement
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Verified Pre-Approval Letter (Not a Pre-Qualification)
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Verified Proof of Funds if paying with cash
All offers must be submitted on this page "make an offer."
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Buying a property subject to FIRPTA means that the property's seller is a foreign individual or entity. As the buyer, you have certain obligations under the Foreign Investment in Real Property Tax Act. One of these obligations is to withhold a portion of the seller's proceeds from the sale and remit it to the IRS. This means that the withholding tax comes from the funds that would otherwise be paid to the seller upon completion of the transaction. The amount to be withheld is generally 15% of the gross sale price. Understanding and fulfilling your responsibilities as a buyer in adhering to FIRPTA regulations is essential.
No
If you're buying a condo and a special assessment is being assessed, it means there's a need for additional funds for repairs or improvements. As a buyer, you may need to pay a portion or the entire special assessment, depending on negotiations with the seller. Reviewing disclosure documents, consulting with professionals, and considering the financial implications before proceeding with the purchase is essential. Special assessments can affect your ability to secure financing, so discuss this with your lender and factor it into your decision-making process.
No
Certain buildings or structures in some areas must undergo a mandatory inspection process called "40-year recertification." This process ensures that the property is safe and structurally sound after reaching its 40-year mark since construction or its last recertification. Professionals like engineers or architects evaluate different components of the building, including electrical, plumbing, and structural systems, to identify any deficiencies, code violations, or potential safety hazards that may require remediation or repairs. This evaluation aims to maintain the property's safety and habitability and ensure it complies with current building codes and regulations.
Completed in 2016, a 10-year inspection will be done in 2026.
Pets are allowed up to 20lbs.
Lenders' down payment requirements for a condo purchase depend on whether the building can pass a limited or full review. A lower down payment may be required if a building can pass a limited review. However, if a full review is necessary, lenders may impose a higher down payment of around 20% or more. The down payment amount is influenced by the perceived risk associated with the building. Buyers should consult with lenders to understand the specific down payment requirements based on the type of review their condo building undergoes.
25% Primary/30% Investment
Street Parking
Pets are allowed up to 20lbs.
Frequently Asked Questions
Answers to commonly asked questions by buyers and their agents.
Take a virtual tour
Explore your future home with pro-grade photos, a Matterport 3D tour, a walkthrough video, and a detailed floorplan. Use these tools to determine if the property meets your needs—all from the comfort of your home.
Review the Details
Access comprehensive information, including listing details, lease terms, building insights, and FAQs, to ensure the property aligns with your criteria.
View In Person
Schedule an in-person tour to confirm that the property is the right fit for you. Take your time to experience the space without any pressure.
Make an Offer
Your agent will submit an offer on our platform on your behalf, including all necessary details, contracts, and supporting documents to move the process forward. If you don’t have an agent, you can submit what you’d like to offer, and our team will assist you at no cost.
Lock in Your Property
Once the contract is signed by all parties, secure your property by submitting your earnest money deposit to your chosen escrow or title company and meeting all required deadlines.
Do Your Due Diligence
Gather additional information about the property, arrange for appraisals and inspections, review necessary documents, and finalize your finances. This includes submitting applications to your lender and the association, as well as making escrow payments.
Finalize the Details
Secure home insurance, conduct a final walkthrough of the property, make any remaining payments, and submit all final documents to ensure a smooth closing process.
Close on Your New Home
Complete the closing process, sign the final documents, and officially become a homeowner. Congratulations! It’s time to move in and start your new chapter.
How buying a condo works
Here's what to expect when buying a condo in Miami
Disclaimer
The information provided on this listing page has been gathered from various sources, including public records, online databases, sellers, landlords, property managers, and condo associations. While we strive to ensure accuracy, some details may be outdated, incomplete, or incorrect. Allioo does not guarantee the accuracy of the information provided. Agents, buyers, and all interested parties are strongly encouraged to conduct their own due diligence, verify all details independently, and consult with appropriate professionals before making any real estate decisions.