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Octagon Towers I
1881 Washington Ave · Built 1966 · 16 floors · 113 residences
For sale
5
1 pending · 60.0 mo supply
Median asking
$420K
from $379K
Median $/sqft
$484/sqft
$441/sqft sold, 12 mo
Days on market
82
29 to sell · 1 in 12 mo
2 of 5 are priced $450K+ and browsable on own.miami; the stats above cover every unit for sale.
Octagon Towers I is a 1966 high-rise of 16 floors and 113 residences at 1881 Washington Ave in South Beach. The building is in FEMA flood zone AE, part of the Special Flood Hazard Area, where lenders require flood insurance for federally backed or federally regulated mortgages. It sits in Miami-Dade hurricane evacuation zone B, and the lowest street beside it is 1.9 ft above the highest tide predicted for 2026 at Virginia Key.
The financeability tier is limited, with an index of 30 of 100, meaning few recent purchases were financed by regulated lenders. The Miami-Dade Clerk recorded 1 resale deed in the 12 months to October 21, 2026. On the 2025 tax roll, 27% of the 113 units carry a homestead exemption and 34% are owned by a company or trust.
There are 2 active tower construction sites within 500 m, which can bring noise and traffic while the work lasts. The nearest Publix is 850 m (about 0.5 miles) away in a straight line.
Live near more of Miami
What surrounds Octagon Towers I: seasonal events, annual programs and lifestyle indexes, measured from the building.
Publix IndexLive now
59 / 100
Nearest Publix: Publix at Publix Super Market, 0.5 mi
#80 in South Beach · #294 in Miami
Close enough for a weeknight run, far enough to feel virtuous.
2 Publix stores nearby
Crane IndexLive now
Tower sites within 1 km: 2
Within 500 m: 2 · within 250 m: 0
Nearest tower site: Shore Club Private Collection, 0.2 mi
2 tower sites nearby
Distances are straight-line, not walking or driving.
Getting around
South Beach is a walkable urban neighborhood. Transit, parks, dining and landmarks within reach:
Ocean DriveLincoln RoadSouth Pointe ParkMiami Beach BoardwalkEspañola Way
49
/ 100
B−
own.miami Score
A data-grounded score for Octagon Towers I from live market data — value, momentum, liquidity, building health, waterfront and age. Computed, not opinion.
Value61
$484/sqft — vs. South Beach condos, then all of Miami
Momentum50
Recent price trend
Liquidity19
60.0 months of supply · 82 days on market
Health75
1 verified record: Special assessment — noted on 1 listings
Waterfront55
Not waterfront
Age13
Built 1966 — vs. South Beach buildings
own.miami Condo Index
79Value100 = the median Miami condo building's price per sq ft; 200 = twice it.
Rank
#534 of 698 tracked Miami condos
Top 77% by price per sq ft
#115 of 121 in South Beach
Momentum
→ Steady
$484/sqft median ask
Liquidity
Slow
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Inventory
$455,000$484/sqft
2 bd · 2 ba · 940 sqft
1881 Washington Ave #11D
Special assessmentShort-term leases OKTenant occupied
Listing courtesy of Beachfront Realty Inc, Heather McCabe (Lic. #3035978) · MLS #A12086863
$879,500$715/sqft
3 bd · 2 ba · 1,230 sqft
1881 Washington Ave #5H
Listing courtesy of Luxe Properties, Michelle Beatty (Lic. #3347395) · MLS #A11944737
Sold $/sqft trend
3-month rolling median of closed sales in Octagon Towers I; bars are closings per month.
Location
Nearby buildings within half a mile.
Building facts
- Address
- 1881 Washington Ave
- Year built
- 1966
- Floors
- 16
- Residences
- 113
- Developer
- Octagon Towers Associates, A Florida General Partnership
- Waterfront
- No
Amenities
- · Pool
- · Sauna
- · 24-hour front desk
- · Common laundry
Building rules
- Parking
- The building offers gated, secure parking.
Special assessments & recertification outlook
ElevatedPublic records checked Oct 31, 2026 (Miami-Dade Clerk, civil docket, Florida DBPR).
Verified records
- ElevatedSpecial assessment — noted on 1 listingsSep 10, 2026
Source: MLS listing remarks
- Verified: a special assessment is in force
- Built 1966 — past its first structural milestone; next inspection around 2031
Estimated from Octagon Towers I’s age and signals in active listings — not an official inspection or reserve report. Always verify the building’s milestone-inspection status and reserves with the association before buying.
Financeability
What the banks say about Octagon Towers I: recorded purchase mortgages, the down payments they accepted, and the programmes in use.
- Mortgages recorded, 12 months
- 1
- 1 from banks and credit unions · purchases and refinances
- Sales bank-financed
- —
- 1 recorded sales, 12 months · Resales only
- Average down payment
- —
- Lowest down payment accepted
- —
Loan programmes, 24 months:Conventional 1
Medium confidence · As of 2026-10-31
Source: Miami-Dade County official records and the FHA/VA approval lists. Aggregates only; individual instruments are never shown. Compare with South Beach
Flooding and storm surge
Public flood data at this building’s location, read Oct 22, 2026.
- FEMA flood zone
- Zone AE: high-risk area. FEMA maps a 1% yearly chance of flooding here.
- Base flood elevation on the map: 8.0 ft (NGVD29).
- Hurricane evacuation zone
- Zone B
- Miami-Dade storm surge planning zones run from A (called first) to E. The county decides which zones evacuate in a storm.
- Ground at the building
- 5.0 ft
- Lowest nearby street
- 2.9 ft
- Highest predicted tide, 2026
- 1.0 ft
Elevations in feet above the NAVD88 datum.
The lowest street next to this building sits 1.9 ft above this year’s highest predicted tide (Oct 27, 2026).
Estimated from public data, not a flood determination. Check the FEMA flood map and an elevation certificate for this building.
Legal & Regulatory
No material litigation foundCivil court cases involving the condominium association, classified by what they are about. Routine collections against individual owners are counted separately and do not affect the building’s standing.
- Active material lawsuits
- 0
- Owner / association disputes
- 0
- Routine collection cases
- 0
- DBPR complaints
- 0
- Open DBPR complaints
- 0
No civil cases involving the association were found on the Miami-Dade docket in the last five years.
DBPR registration PR1V023118 · Approved,Recorded. Public complaints on record with the Florida Division of Condominiums; investigations are confidential and not counted.
Court records are matched to the association by name and summarized by us; a case is a claim, not a finding. Ask the association for its litigation disclosure before buying.
Frequently asked
How much do condos at Octagon Towers I cost?+
There are 5 condos for sale at Octagon Towers I, from $379,000, with a median asking price of $420,000 ($484/sqft).
How much are the HOA fees at Octagon Towers I?+
HOA / maintenance fees at Octagon Towers I run around $1,139 per month among units currently for sale; the exact fee varies by unit size and line, so confirm the current amount with the listing or the condo association.
When was Octagon Towers I built?+
Octagon Towers I was built in 1966, 16 stories, 113 residences.
Who developed Octagon Towers I?+
Octagon Towers I was developed by Octagon Towers Associates, A Florida General Partnership.
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