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Condominium
$1,299,000$1,165 / sqft
421 Meridian Ave # 21, Miami Beach FL 33139
Listed
2
Bedrooms
2
Bathrooms
1,115 sqft
Interior
2011
Year built
$948 / mo
HOA
Condominium
Type
About this home
Rare South of Fifth Penthouse Loft | Exceptional Investment & Second-Home Opportunity Discover sophisticated Miami Beach living in this expansive three-story penthouse loft, the largest and most private residence at Meridian 5, ideally located in the coveted South of Fifth neighborhood. Just three blocks from the beach and moments from some of Miami Beach’s finest dining, shopping, and entertainment, this exceptional residence offers the perfect blend of privacy, space, and location. Fully furnished and filled with natural light, the residence features dramatic 20-foot ceilings, motorized shades, and a modern kitchen with stainless steel appliances. The thoughtfully designed three-level layout includes a private lower-level bedroom and full bath, a spacious Primary Suite with its own private terrace, and an exclusive rooftop deck offering breathtaking views of the Miami skyline. Residents enjoy access to a sun-drenched pool, along with deeded covered parking—an exceptional convenience in South of Fifth. With the flexibility to serve as a luxurious primary residence, second home, or investment property, the unit offers rental potential of up to 12 times per year, providing an attractive opportunity in one of Miami Beach’s most sought-after neighborhoods. A rare combination of size, privacy, outdoor space, and location, this distinctive penthouse loft presents an exceptional opportunity to own in South of Fifth.
Features
- First Floor Entry
- Built-in Features
- Volume Ceilings
- East Of Us1
- Courtyard
- Skyline
Leasing
- Minimum lease
Run the numbers
We fill in the price and the building's HOA dues. That leaves tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Rent starts from what comparable units are asking nearby. Vacancy and the loan terms below start at common defaults; change them.
Median asking rent for 2-bed rentals in Miami Beach, from 200 active listings; the middle half ask $3,600–$10,000.That is what landlords ask, not what units let for — edit it if you know better.
Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management
Cap rate
Cash-on-cash
Monthly cash flow
Net operating income
Enter property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.
Illustration only — not a loan offer, quote, or investment advice. We are not a lender and neither offer nor arrange financing. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.
Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.