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Buildings/South Beach/WEST BAY PLAZA

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WEST BAY PLAZA

West Bay Plaza

1688 West Avenue, Miami Beach 33139

1995

Year Built

113

Units

For Sale

$720K

Avg Price

$726

Sale $/SF

For Rent

$4,145

Avg Rent

$3.92

Rent $/SF

+50.0%

YoY

For Sale

For Rent

Investor-Owned

52%

Avg HOA

—

West Bay Plaza is a 113-unit residential building located at 1688 West Avenue in South Beach, Miami Beach. Built in 1995, the building offers a range of floor plans from 1 to 3 bedrooms spanning 750 to 1,930 square feet, catering to both residents and investors. With an average rental rate of $3,488 per month and pricing around $227 per square foot, it represents a standard-tier offering in the South Beach market.

Building Details

Address

1688 West Avenue, Miami Beach, 33139

Neighborhood

South Beach

Year Built

1995

Total Units

113

Avg Unit Sqft

985 SF

Tier

Premium

Avg $/SF

$726.4

Avg Rent

$4,145/mo

Rent $/SF

$3.92/SF

Neighborhood Rank

Top 22%

Avg Unit Value

$439K

Total Sales (All-Time)

393

Amenities

ElevatorLobbyParkingSecurity

Investment Analysis

Yield Metrics

Rental Yield (annualized)6.8%

YoY Appreciation+50.0%

Total Yield115.0%

Liquidity & Demand

Closed Sales (120d)0

Investor-Owned52%

For Sale5

For Rent6

Top 22%

Neighborhood percentile

Market Data

Sale Price Trend ($/SF)

$726

Sales & Listings

Active Listings

For Sale (5)

$695K

Unit PH-04

1 bd2 ba750 sf

$927/SF

$700K

Unit 602

2 bd2 ba1,110 sf

$631/SF107 DOM

$720K

Unit 401

2 bd2 ba1,070 sf

$673/SF84 DOM

$750K

Unit 1005

2 bd2 ba1,070 sf

$750K

Unit 405

2 bd2 ba1,070 sf

For Rent (6)

$3K

Unit G-06

1 bd2 ba820 sf

$4/SF22 DOM

$4K

Unit 1005

2 bd2 ba1,070 sf

$4/SF

$4K

Unit 1005

2 bd2 ba1,070 sf

$4K

Unit 209

2 bd2 ba1,060 sf

$4/SF9 DOM

$4K

Unit 801

2 bd2 ba1,070 sf

$4/SF8 DOM

$5K

Unit 1203

2 bd2 ba1,000 sf

$5/SF77 DOM

Recent Sales

Date	Price	$/SF	Bed/Bath	SF
Nov 18, 2024	$125K	$116.82	2/2	1,070
Oct 31, 2024	$205K	$184.77	2/2	1,110
Jul 24, 2024	$368K	$448.78	1/2	820
Jul 16, 2024	$545K	$514.15	2/2	1,060
Jul 11, 2024	$545K

Units & Ownership

Total Units

113

Avg Sqft

985 SF

Avg Assessed

$357K

Owner-Occupied

48%

Tax & Ownership

Investor-Owned

52%

Owner-Occupied

48%

Avg Assessed Value

$357K

Avg Taxable Value

$330K

Effective Year Built

1995

Zoning

4100

Unit Mix

1 BR37

Avg 794 SF

2 BR74

Avg 1,068 SF

3 BR1

Avg 1,930 SF

Unknown1

Unit Directory

Showing 10 of 113 units

Unit	Beds	Baths	SF	Assessed	Owner	Last Sale	$/SF	Sale Date
—	—	—	—	—	—	—	—	—
201	2	2	1,070	$440K	✓	$439K	$410	Feb 2022
202	2	2	1,110	$225K	✓	$116K	$104	Apr 1995
203	2	2	1,000	$298K	✓	$350K	$350	Apr 2016
204	1	2	750	$290K	—	$190K	$253	Aug 2011
205	2	2	1,070	$463K	✓	$125K	$117	Nov 2024
206	1	2	820	$286K	—	$226K	$276	Nov 2014
207	1	2	810	$148K	✓	$110K	$136	Nov 2000
208	2	2	1,110	$396K	—	$370K	$333	Aug 2006
209	2	2	1,060	$463K	—	$545K	$514	Jul 2024

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WEST BAY PLAZA

Building Details

Investment Analysis

Yield Metrics

Liquidity & Demand

Market Data

Sales & Listings

Units & Ownership

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