I recently visited the Axis on Brickell located in the heart of Miami's Mary Brickell Village. The Axis consists of two forty story towers that are home to over 700 units. The Axis was completed in 2008 and rather than sell units at fire-sale prices, the developer decided to lease the units at attractive prices which has led to the development being almost 100% occupied. The Axis is a very popular property among all-cash investors who can purchase a tenant-occupied unit in the building in order to start earning cash-flow right away.
Due to its proximity to stores, restaurants, and the metromover, the Axis is very popular among University of Miami students. The two towers are joined by a common deck that is home to two pools. There is a larger, resort style pool and jacuzzi, and also a smaller lap pool. Depending on the time of day, residents can move from pool to pool to maximize the amount of direct sunlight they get. The Axis also features a residents lounge, game room, and theater room. All the common areas are Wi-Fi equipped and there is also a gym on site.
At the Axis you can find a variety of one, two, and three bedroom units in the two towers. In my opinion, the best units are in the North Tower facing north, or in the South Tower facing South. The 06 Line is perhaps the most sought after line at Axis. It is a 2 bedroom, 2 bath unit that sits on the South East corner of the South Tower. It has 1174 square feet of interior space and offers a wonderful view of Brickell. By comparison, the one bedroom units are only around 730 square feet. Prices at axis start at around $260 per square foot. Currently, the building is not Fannie Mae approved. The one bedroom units rent for around $1300-$1400/mo.
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Tags: axis, axis brickell, axis on brickell, cash investors, investors, mary brickell village, Miami, miami condo, miami condos, University of Miami, video tour
