62 m² Villa-Style Condo at 821 Jefferson Condo, South Beach, Miami Beach — $255,000
A one-bedroom, one-bathroom unit of 670 sq. ft. (about 62 m²) is for sale at 821 Jefferson Ave, Miami Beach, Florida 33139. The property is located in the 821 Jefferson Condo in the heart of South Beach. The unit requires renovation, which opens the possibility for redesign. The seller is prepared to contribute $10,000 toward the buyer's closing costs. Price — $255,000.
Location
821 Jefferson Ave is located in the Flamingo/Lummus area, in the central part of South Beach. The famous South Beach shoreline is just a few minutes' walk away. Restaurants, shops, and nightclubs surround the property, making this area attractive for both living and leisure. The neighborhood's Walk Score is 94 out of 100, making it one of the most pedestrian-friendly in Miami Beach. Nearby schools: Fienberg/Fisher K-8 Center (0.6 miles), Nautilus Middle School (2.5 miles), Miami Beach Senior High School (1.5 miles).
About the Property
The unit is 670 sq. ft. (62 m²) on the first floor. The building was constructed in 1969. The property requires renovation. Comparable units in this building feature impact-resistant windows, central air conditioning, tile floors, a washer and dryer, a microwave, a refrigerator, and a gas range. The unit is sold as-is.
In the Complex
821 Jefferson Condo is a low-rise complex with 8 units in a 2-story building. The HOA fee is $2,148 per quarter ($716 per month). The fee covers: grounds maintenance, roof, sewer, trash removal, structural maintenance, common areas, association management, insurance, reserve fund, hot water, and legal services. Parking is street-only. Pets are allowed. The minimum lease term is 180 days, no more than 2 times per year.
Price and Costs
- Price — $255,000.
- Price per square foot — $381.
When purchasing real estate in Miami-Dade County, the buyer pays a Documentary Stamp Tax at a rate of $1.05 per $100 of the transaction price for condominiums. For a property valued at $255,000, the tax will be approximately $2,678. Recording fees and title company service fees also apply.
Annual expenses: property tax for 2025 was $4,253. HOA fee — $716 per month, or $8,592 per year. The effective tax rate in ZIP code 33141 is 0.86% of the assessed value.
Ownership Structure and Transaction Format
Form of ownership — freehold in a condominium. Foreign buyers may purchase real estate in Florida. The transaction is closed at a title company with registration in Miami-Dade County. Online viewings and remote execution via power of attorney are possible. Support languages — English and Spanish.
If You Are Considering It as an Investment
The unit is occupied by a tenant on a month-to-month basis, which gives the new owner flexibility. Comparable units in this building rent for $2,200 per month, which yields a gross return of about 10.4% on the purchase price. However, Miami Beach has strict short-term rental rules: the minimum term is 180 days, no more than 2 times per year. For legal rental, a Florida DBPR license, County Certificate of Use, Business Tax Receipt, and Resort Tax Certificate are required. Fines for unauthorized rentals start at $20,000 for the first violation. No data on stated yields is available in the source.
This Is a Good Fit For
— Those seeking an affordable unit within walking distance of South Beach.
— Buyers ready to invest in renovation and design the space to their own taste.
— Investors considering a property with an existing tenant and potential returns of about 10% (with long-term rental).
This May Not Be a Good Fit For
— If you need a move-in-ready unit — the property requires investment.
— If a dedicated parking space is important — parking is street-only.
— If the budget does not account for the $716 monthly HOA fee.
— If you plan short-term rentals — the minimum term is 180 days, no more than 2 times per year.
— If you prefer a newer building — the property was built in 1969.
What to Know Before the Transaction
The building was constructed in 1969 — it is worth requesting a report on the condition of the engineering systems, roof, and facade. The HOA fee covers a wide range of services, including hot water and insurance. The unit is sold as-is, which means there are no seller warranties. In season, South Beach is in high demand, and parking and roads may be busy. Be sure to review the association's rental rules before purchasing. For foreign buyers, it is important to consider FIRPTA: if the seller is a foreign person, the buyer may be required to withhold 15% of the transaction amount.
How to View and Buy
Write to us with your travel plans and budget range. A Discount House manager will confirm the property's availability, send a full breakdown of transaction costs, and suggest alternatives in the same area. Viewings in person or by video. Response within 30 minutes.