1320 Ocean Drive

1320 Ocean Drive has been categorized by the local assessors in Miami Beach, FL as a commercial type of property. The building on the property was first built in 1936 and is 88 years old. However, we must point out that the home was most recently renovated and altered in 1982. The home has a total of 45 bedrooms. Residents will have access to 45 full bathrooms. There are 45 partial bathrooms in the home. The building has a total of 3 stories. In addition, 1320 Ocean Drive has 18,919 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The linear feet between the front and back of the lot is 1,300 ft and across the front of the lot is 500 ft. The area measurement of the land has been determined as 6,500 square feet.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. Residents will have the luxury of enjoying a unknown. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with concrete block control joints. The roof of the building is made of tile. The exterior walls of the building are made of a combination of material. The inside of the home is being cooled with a chilled water air conditioning system at the moment. The property was last sold in Feb 24, 2014 for $12,500,000. That's $660.71 per sqft. Prior to that sales transaction, the property was also sold in Mar 29, 2013 for $1,500,100. 1320 Ocean Drive was last assessed in 2023. The total value of the property was assessed at $7,845,200. The total assessed value for this property is less than the total market value as of this moment. Which is great for tax purposes. The total amount of taxes due from a property owner is $159,870. If possible, try to put down at least 20% towards the down payment during your home purchasing process. While you may be able to buy a home with less than a 20% down payment, your lender may then require you to pay for a private mortgage insurance (PMI). PMI protects the lenders and lowers their financial risk in case the borrower defaults. Generally, you'll need to pay more PMI when your total loan amount is higher. However, certain factor such as your credit score, loan type, loan term, and loan-to-value ratio can all impact your PMI as well. Unfortunately, this property is not currently listed for sale but our inventory of available properties is constantly updating in real time. Check back frequently for updates.