Top Five South Beach Condos with Rentals Under $5,000 Per Month

With season in full swing and extreme cold weather up north, the snow birds have definitely flocked to Florida…in droves.  And there is no better time to be in Miami Beach than this weekend for the Food Network & Cooking Channel South Beach Wine & Food Festival.  This fun, annual event, hosted by Southern Wine & Spirits of Florida and Florida International University (FIU), benefits FIU’s Chaplin School of Hospitality & Tourism Management and the Southern Wine & Spirits Beverage Management Center, and has raised over $18 million for the School.  Since its inception in 1997, it has grown to be recognized as America’s most prestigious gourmet gathering and welcomes over 60,000 people.  Local and nationally known chefs come to be part of this weekend including Emeril Lagasse, Bobby Flay, Rachel Ray, Guy Fieri and more. 

Part of the attraction of this huge festival is the location – South Beach.  What is better than good food, good libation and gorgeous weather – everything anyone could want?  South Beach is one of the most unique and appealing places anyone wants to go.   Whether for this festival or simply to spend time in sunny Florida, South Beach is full of seasonal and annual rentals for those who want to live in the middle of all the action.  Here are the top five South Beach condos with rentals under $5,000 per month.

Decoplage Condo, 100 Lincoln Road, Monthly Rental Rates:  $1,600-$14,000

Ideally situated in the beach and just a couple blocks from Lincoln Road Mall,

Decoplage couldn’t be more perfectly situated in South Beach.  The condo was built in 1965 and features (665) studios, one and two-bedroom units with tons of windows and space.  Many units have been remodeled with updated fixtures, finishes and appliances.  Residents enjoy panoramic city and water views, a gorgeous resort-style pool overlooking the Atlantic along with a fully-equipped fitness center, business center, valet parking, and more.  Decoplage allows monthly leases with a maximum of 12 individual leases a year and monthly rental rates typically falling between about $1,600 and $14,000.  There are several one and two-bedroom units available for monthly rentals with rates around $5,000:

Unit #	Bed/Bath	SF	Monthly Rate	Price/SF
#947	2 BR/2BA	1,190	$5,500	$4.62
#514	2 BR/2BA	1,190	$5,200	$4.37
#1235	1 BR/1BA	675	$5,000	$7.41

Sunset Harbour, 1800-1900 Sunset Harbour Drive, Monthly Rental Rates:  $2,000-$5,000

Sunset Harbour consists of two towers that sit facing Biscayne Bay.  With gorgeous bay and city views, Sunset Harbour is close to everything in South Beach not to mention the main artery from South Beach to Downtown Miami.  Each of the Sunset Harbour’s towers features 24 stories and about 215 units in each building with updated kitchens, private terraces, washers and dryers and more.  On top of that, community amenities include access to the Sunset Harbour Yacht Club, three pools, a fully-equipped fitness center, 24-hour security and more.  Sunset Harbour rentals feature monthly rates ranging from $3,200 to $5,000 and accommodate only long-term rentals.  Currently there are three available rentals:

Unit #	Bed/Bath	SF	Monthly Rate	Price/SF
1900-#1512	2 BR/2BA	1,270	$5,000	$3.74
1800-#806	2 BR/2BA	1,250	$5,000	$4.00
1800-#1703	2 BR/2 BA	1,130	$4,500	$3.98

Flamingo South Beach, 1500 Bay Road, Monthly Rental Rates:  $1,800 - $6,500

Living at Flamingo South Beach is like living in your own little oasis.  The spectacular 16.5-acre compound features three buildings and tons of green space with tropical landscaping.  It has everything you need from an onsite convenience store, liquor store, restaurant and more to amenities like a huge 15,000 square foot fitness center, infinity pool, sandy beach pool and other fabulous perks.  Did we mention there is a dog groomer and dog park on the premises?  Inside each of the almost 1,700 residences (studios, one, two and three-bedrooms), residents enjoy updated, modern kitchens, balconies with beautiful views, and so much more.  Monthly rental rates currently fall between $1,800 for a studio to $6,500 for a two-bedroom unit.  Here are several Flamingo South Beach rentals with monthly rates around $5,000:

Unit #	Bed/Bath	SF	Monthly Rate	Price/SF
1900-#1512	2 BR/2BA	1,270	$5,000	$3.74
1800-#806	2 BR/2BA	1,250	$5,000	$4.00
1800-#1703	2 BR/2 BA	1,130	$4,500	$3.98

Always a Great Place to Live

South Beach is always a great place to live whether there is a festival like the SoBe Food and Wine or any other event or just a normal day of the week.  Living in South Beach is like living on vacation. 

Top Five Most Recent South Beach Miami Real Estate Sales

South Beach is definitely one of the coolest areas in all of Miami.  It embodies sun and fun.  It has an eclectic, easy-going atmosphere that draws people from all over Miami-Dade and even the whole state of Florida.  Residents choose to live in South Beach because of its multi-cultural, super popular reputation as well as its chic fashion sense and nightlife.  With all signs pointing that real estate is becoming more in demand, following are the top five most recent South Beach real estate sales:

650 West Ave Apt 1802, The Floridian, Sale Price: $525,000

Located in the heart of South Beach is The Floridian.  Its contemporary architecture is beautiful on the Miami Beach skyline.  With unbelievable water and Downtown Miami views, it is no wonder that so many want to live here.  This unit that sold on December 12 is a corner unit with a wrap balcony that looks out over South Beach with the Atlantic Ocean in the distance.  Inside there are wonderful features like walk-in closets, large open living areas and two bedrooms that are situated on each end of the unit. Condominium amenities are plentiful with a resort-style pool, tennis courts, fully-equipped fitness center, concierge, security and more.  List prices at the Floridian currently range between about $400K and almost $900K.  Most two-bedroom units list in the $600s.  As for rentals, the rates typically range from about $2,500 to over $4,000. 

224 Meridian Avenue, #6, Liberty House, Sale Price:  $196,000

A SoFi property for under $200K?  This unit is a completely remodeled one-bedroom unit with stainless steel appliances, granite counter tops, marble floors, and a washer and dryer in the unit.  There is no better location to live in South Beach than South of Fifth.  Liberty House was built in 1959 and has a vintage classic Florida appeal.  It is situated on a quiet tree-lined street only a few blocks from the beach and within walking distance to great restaurants and fun on Ocean Drive.  This is a small condominium that has great potential as an investment.  Sale prices for the four units sold in 2012 ranged between $100K and $160K.  This year the only unit that has sold thus far is this one at $196K. 

710 Washington Avenue, #406, The Hampton on Washington, Sale Price:  $165,000

This was a huge opportunity to live ½ blocks from the ocean and oh so close to the fantastic shopping and dining in South Beach.  This unit at the Hampton on Washington was recently renovated with marble floors, stainless steel appliances, stone counter tops, and a marble bath.  The large windows in the living room and bedroom overlooked, tree-lined Pennsylvania Ave On top of that it was sold furnished with glassware, dishes, flatware, linens, lamps, window treatments, cove lighting and more.  There are several units listed with list prices ranging from the mid-$100s to the upper-$200s.  Four units have recently sold with sale prices falling in the mid-$100s.  As for rental property, investors can expect to garner monthly rental rates between $1,400 and $2,000 depending on the size and views.

100 S Pointe Drive, #2105, Continuum, Sale Price:  $3,275,000

Of course, to get a true picture of the range of sale prices in South Beach real estate, one unit sold this week at Continuum South Tower.  This beautiful unit with almost 2,000 square feet as well as two bedrooms and two baths has so many amenities throughout the residence from amazing panoramic ocean views on large terraces to a wonderful kitchen, luxurious walk-in closets, and special media pre-wiring just to name of few.  Continuum is truly the ultimate in luxury living on South Beach with everything it has to offer from the private beach club to the exotic resort pool, tennis courts and more.   List prices range from almost $800K for a one-bedroom in the North Tower to almost $30 million for a huge 8,000+ square foot penthouse in the South Tower (three units combined into one).  For rentals, only annual leases are allowed with monthly rates falling between $4,500 and about $30,000. 

520 Euclid Avenue, #12, Pinewood Co-op, Sale Price: $140,000

Situated a half-block north of SoFi, this is an updated and lovely studio.  It features wood floors, walk-in closets, gas stove and stainless appliances as well as lots of storage.  The location is ideal with everything in South Beach just a short walk away.  Additionally, parking is available for $50 per month.  Units at Pinewood are ideal for first time buyers, investors and buyers looking for a weekend getaway.  Only two studios have sold recently with both sale prices at $140K.  Investors typically garner about $1,000 to $1,300 per month for monthly rental rates with similar properties.

Worth Consideration

While the perception is that South Beach real estate is only for the rich and famous, recent sales prove that it can be very affordable for all types of buyers from first-time buyers and real estate investors.  This is a wonderful part of the city that draws so many different people.  South Beach real estate is very much worth checking out. 

Most Popular Marinas for Miami Boat and Yacht Owners

With so many miles of waterways and canals in the Miami area, it is no wonder that boating and yachting are favorite pastimes of Miami residents and visitors.  From cruising around one of the area canals to the Intracoastal Waterway and out into the Atlantic Ocean, boating in the warm Florida sunshine and pristine blue waters is something that everyone enjoys.  While many owners have the ability to dock their vessels along their private docks, others living in Miami condominiums or non-waterfront homes choose to moor their vessels at area marinas and yacht clubs.  Whether privately-owned or city-owned, there are more than several from which to choose depending on where you live.  Following are three of the most popular city-owned marinas in Miami along with available Miami real estate.

Downtown Condos for Sale

Miamarina at Bayside, 401 Biscayne Boulevard

Owned by the City of Miami and situated in Downtown, this is probably one of the most popular marinas in the area.  Located adjacent to Bayside Marketplace and all of its shopping and dining, it is close to everything.  Area condominium residents can easily keep their vessels here with no concern.  It is situated on the ICW with no fixed bridges at the west end of the Government Cut and features 130 slips that accommodate vessels up to 150 feet in deep water slips.  One of the nicest advantages is that Miamarina dockage is available on a transient, long-term or commercial basis which is great for those wanting to enjoy Miami by boat.  With attractions like the Miami Children’s Museum, American Airlines Arena and others so close to the marina, this is a very popular marina for many area boaters and yachters. 

In terms of downtown real estate that is close by, some of Miami’s most famous downtown addresses are a short walk or drive from Miamarina with list prices ranging from the mid to upper-$100s for a studio or one-bedroom at the Lofts Downtown and Capital Lofts to luxury multi-million dollar penthouses at condominiums like Ten Museum Park, Marquis and 900 Biscayne, there is definitely a Downtown Miami condo to fit every budget.

For Sale in South Beach

Miami Beach Marina, 300 Alton Road

Miami Beach Marina is located on the southwest tip of South Beach at the east end of the Government Cut just across from Fisher Island.  Accommodating up to 400 boat slips for vessels up to 250 feet, this marina offers fresh water, electricity, telephone, and cable hook ups for each slip as well as a control tower with state of the art weather service and 24-hour dock attendants and security.  It also features a heated swimming pool, laundry and shower facilities, air conditioned restrooms and washers and dryers.  With taxi service to world-famous South Beach activities and entertainment, this is an outstanding Miami marina.  

South Beach real estate features a number of condominiums in SoFi and other parts of South Beach that are close by so that boat and yacht owners are near their prize possessions.  Overlooking the marina are condominiums like Icon South Beach, Murano Portofino, Yacht Club at Portofino, and Murano Grande with list prices starting in the mid-$600s at Icon South Beach to the multi-millions at Murano Portofino and Yacht Club Portofino.  Just a short distance from the marina are some of the most exclusive SoFi condominiums including Portofino Tower, Apogee, South Pointe Towers and Continuum.  These condominiums sit on the southernmost point of Miami Beach and feature some of the most unbelievable panoramic views of all of Miami, the ICW and the Intracoastal Waterway.  List prices in these condominiums start in the mid to upper-$700s and low-$800s for a studio or one-bedroom unit at South Pointe Tower and Continuum and climb to over $20 million for a penthouse residence at Apogee. 

For Sale in Coconut Grove

Dinner Key Marina, 3400 Pan American Drive, Coconut Grove

So much history surrounds Dinner Key Marina beginning with its location in Coconut Grove.  It was originally developed as a naval air station in 1917 then served as a base for Pan American’s famous Clippers, and again as a naval air station during the World War II.  Surrounded by much of what historically was Pan American Airways terminals and other historical sites, today, it is a popular City of Miami-owned marina for Coral Gables and Coconut Grove residents as well as those visiting the area.  It is close to historical sites like Villa Vizcaya, a museum and former home of International Harvester founder James Deering as well as a short walk to the center of Coconut Grove village and CocoWalk. 

Comprised of 582 slips and long-term moors, the marina is Florida’s largest wet slip marine facility and features modernized mooring for many sizes of yachts and vessels.  It also houses a mooring facility just off shore where high-quality steel moorings provide additional space for boat and yacht owners who berth their vessels at the Marina on a long-term basis.

In terms of Coconut Grove real estate, several area condominiums close by include the Grovenor House, Cloisters on the Bay, Mutiny Park, and the Ritz Carlton Coconut Grove where list prices start in the mid-$100s at Mutiny Park and climb to the multi-millions at Grovenor House and the Ritz.  As for single family home Coconut Grove neighborhoods, some of the most exclusive neighborhoods are within a very short drive and have list prices from the upper $600s to the multi-million dollar level.

Many Other Marinas

Because of the extensive waterways, there are so many other marinas in and around Miami that it would take forever to list and describe every one of them.  From public marinas where visitors can dock for a day or a week to private yacht clubs with marinas and private slips, any boat or yacht owner interested in Miami real estate has the ability to find the perfect residence as well as the perfect marina.  After all, it is Miami!