503 12th Street 5, Miami Beach, FL 33139

2 bed · 2 bath · 980 sqft · Built 1940

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.

Property type

Condominium

Year built

1940

Stories

2

Subdivision

BAYLIS CONDO

Waterfront

No

Private pool

No

HOA (monthly)

$550

Parcel number

0232341100050

Annual tax

$3,781

Miami Beach runs from South Beach Art Deco condos to Mid-Beach high-rises and North Beach single-family pockets. The condo market dwarfs the SFH market here — supply dynamics diverge sharply by submarket.