Madison Apartments – Affordable Housing
259 Washington Avenue
Miami Beach, FL 33139
- Units Available
- 1 Units Available
- Price
- Base rent starting at $2,014+
Last updated
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8040 Tatum Waterway Dr
(305) 788-3950Property highlights
Experience the seamless blend of tranquility and luxury at this recently renovated beachfront condo in Miami Beach. Residents rave about the scenic views of the waterway, providing a soothing escape while being steps away from the beach. The property is a rare find with its all-new interiors, expansive bedroom, and private balcony access. Enjoy the convenience of kayaking, paddleboarding, and fishing just outside your doorstep. Reviews highlight the immaculate maintenance, responsive management, and the lush family park right across the street. This pet-friendly community welcomes you to indulge in its serene lifestyle with ease.
- 0 units available
- Studio • 1 Bed • 2 Beds
- Location
- 8040 Tatum Waterway Drive, Miami Beach FL 33141, North Beach
- Amenities
- On-site laundry, Pet friendly, Playground, and Volleyball court
- Commute
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Price and Availability
8040 Tatum Waterway Dr apartments start at Ask/month. Contact property for availability and pricing.Info provided by Avail (Total price includes base rent and required monthly fees—select a unit to view full breakdown.)
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Location
Amenities
- On-Site Laundry
- Pet Friendly
- Playground
- Volleyball Court
Property Amenities
- Cats Allowed
- Dogs Allowed
- Pet Friendly
- On-Site Laundry
- Playground
- Volleyball Court
🔥 NORTH BEACH WATERFRONT INVESTMENT - ONLY $169,000 🔥
Looking for an affordable waterfront investment in Miami Beach? This spacious 1-bedroom condo is located in the charming Historic Tatum Waterway District, just a short walk from the beach. Currently rented through October 1, 2026, this property offers immediate rental income and strong long-term appreciation potential.
📍 North Beach, Miami Beach
🌊 Waterfront Community on Tatum Waterway
🏖 Walking Distance to the Beach
🌳 Next to Tatum Waterway Park
🛏 1 Bedroom | 1 Bathroom
📐 639 SF
🏢 First Floor Garden Apartment
🌿 Garden Views
🐶 Pet Friendly
🏢 COMMUNITY FEATURES
✔ Boutique Building with Only 20 Units
✔ Waterfront Location
✔ Recently Installed New Roof
✔ Fresh Exterior Paint
✔ Healthy HOA with Reserve Funding
✔ Fenced Community
✔ Adjacent to Tatum Waterway Park
✔ Volleyball Courts
✔ Children's Playground
✔ Walking & Jogging Paths
✔ Picnic Pavilion
💡 HOA INCLUDES
✔ Water & Sewer
✔ Trash Removal
✔ Building Insurance
✔ Landscaping
✔ Exterior Maintenance
✔ Laundry Facilities
✔ On-Site Management
✔ Reserve Fund Contributions
💰 INVESTMENT BREAKDOWN
Purchase Price: $169,000
Current Rent: $1,650/month
Gross Annual Rental Income: $19,800
HOA: $605/month ($7,260/year)
Property Taxes: $2,914/year
📈 ESTIMATED ANNUAL CASH FLOW
Gross Rental Income: $19,800
Less HOA & Property Taxes: $10,174
💵 Estimated Cash Flow Before Insurance, Vacancy, Repairs, Maintenance & Financing:
≈ $9,626/year
✨ WHY THIS PROPERTY?
✔ Immediate rental income with tenant in place through October 2026
✔ Waterfront community in the Historic Tatum Waterway District
✔ Affordable entry into the Miami Beach market
✔ Boutique building with only 20 residences
✔ Healthy association with recent capital improvements completed
✔ Walking distance to the beach, restaurants, shopping, and parks
✔ Strong rental demand in one of Miami Beach's fastest-growing neighborhoods
✔ Excellent opportunity for both investors and future owner-occupants
📩 DM me for additional photos, financial analysis, comparable sales, or to schedule a private showing.
Juan Ruiz
XLS Realty LLC
All figures are estimates and should be independently verified by buyers. Cash flow estimate is before insurance, vacancy, repairs, maintenance reserves, financing costs, and income taxes.
Looking for an affordable waterfront investment in Miami Beach? This spacious 1-bedroom condo is located in the charming Historic Tatum Waterway District, just a short walk from the beach. Currently rented through October 1, 2026, this property offers immediate rental income and strong long-term appreciation potential.
📍 North Beach, Miami Beach
🌊 Waterfront Community on Tatum Waterway
🏖 Walking Distance to the Beach
🌳 Next to Tatum Waterway Park
🛏 1 Bedroom | 1 Bathroom
📐 639 SF
🏢 First Floor Garden Apartment
🌿 Garden Views
🐶 Pet Friendly
🏢 COMMUNITY FEATURES
✔ Boutique Building with Only 20 Units
✔ Waterfront Location
✔ Recently Installed New Roof
✔ Fresh Exterior Paint
✔ Healthy HOA with Reserve Funding
✔ Fenced Community
✔ Adjacent to Tatum Waterway Park
✔ Volleyball Courts
✔ Children's Playground
✔ Walking & Jogging Paths
✔ Picnic Pavilion
💡 HOA INCLUDES
✔ Water & Sewer
✔ Trash Removal
✔ Building Insurance
✔ Landscaping
✔ Exterior Maintenance
✔ Laundry Facilities
✔ On-Site Management
✔ Reserve Fund Contributions
💰 INVESTMENT BREAKDOWN
Purchase Price: $169,000
Current Rent: $1,650/month
Gross Annual Rental Income: $19,800
HOA: $605/month ($7,260/year)
Property Taxes: $2,914/year
📈 ESTIMATED ANNUAL CASH FLOW
Gross Rental Income: $19,800
Less HOA & Property Taxes: $10,174
💵 Estimated Cash Flow Before Insurance, Vacancy, Repairs, Maintenance & Financing:
≈ $9,626/year
✨ WHY THIS PROPERTY?
✔ Immediate rental income with tenant in place through October 2026
✔ Waterfront community in the Historic Tatum Waterway District
✔ Affordable entry into the Miami Beach market
✔ Boutique building with only 20 residences
✔ Healthy association with recent capital improvements completed
✔ Walking distance to the beach, restaurants, shopping, and parks
✔ Strong rental demand in one of Miami Beach's fastest-growing neighborhoods
✔ Excellent opportunity for both investors and future owner-occupants
📩 DM me for additional photos, financial analysis, comparable sales, or to schedule a private showing.
Juan Ruiz
XLS Realty LLC
All figures are estimates and should be independently verified by buyers. Cash flow estimate is before insurance, vacancy, repairs, maintenance reserves, financing costs, and income taxes.
Verified reviews
We are collecting reviews from verified residents who have toured or leased from 8040 Tatum Waterway Dr. Check back soon.
Property Details
Must have 3x the rent in total household income (before taxes)
Getting Around
Walk & Transit Scores
Walk Score: 67 — Somewhat Walkable, some daily errands possible without a car.Transit Score: 49 — Limited public transit service in the area.Public Transit Access
The North Beach area benefits from access to public transit options, such as 7 nearby routes: 7 bus, 0 rail, 0 otherListing Provided by Avail
Property Status: Pending
Susie Raduenz
Dania Realty Inc
MLS Number: A12025438
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Frequently Asked Questions (FAQs)
In Miami Beach, FL, the average rent is $2,042+ for a studio, $2,739+ for a 1-bedroom, $4,843+ for a 2-bedroom, and $13,876+ for a 3-bedroom.* For more information on rental trends in Miami Beach, FL, check out our monthly Miami Beach, FL Rent Report.
*Based on base prices that don’t include fees
Some of 8040 Tatum Waterway Dr's amenities include on-site laundry, pet friendly, and playground. To see the other amenities this property offers, check out the Amenities section.
8040 Tatum Waterway Dr is not currently offering any rent specials.
Yes, 8040 Tatum Waterway Dr is pet-friendly.
No, 8040 Tatum Waterway Dr does not offer parking.
No, 8040 Tatum Waterway Dr does not offer units with in unit laundry.
No, 8040 Tatum Waterway Dr does not have a pool.
No, 8040 Tatum Waterway Dr does not have accessible units.
No, 8040 Tatum Waterway Dr does not have units with dishwashers.
No, 8040 Tatum Waterway Dr does not have units with air conditioning.