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Active
Condominium
$500,000$1,244 / sqft

121 NE 5th St # 3704, Miami FL 33132

In 501 First
0
Bedrooms
1
Bathrooms
402 sqft
Interior
2025
Year built
$589 / mo
HOA
Condominium
Type

About this home

DEVELOPER UNIT! Studio / 1 Bath | 402 SF | South-Facing Exceptional opportunity to own a brand-new, fully furnished residence in the heart of Downtown Miami. Thoughtfully designed with premium finishes throughout and move-in ready, offering outstanding investment potential. One of the few residences in the area with no rental restrictions, allowing short-term rentals. Ideally located in the vibrant Miami Worldcenter district. The residence features floor-to-ceiling impact-resistant glass, a private balcony, Italian cabinetry, high-end appliances, and designer furnishings included in the sale. Residents enjoy over 20,000 square feet of resort-style amenities, including a rooftop pool, hydrotherapy spa, HOMAGE fitness center, yoga studio, entertainment lounges, coworking spaces, a chef's kitchen, and much more. Easy to show.

Features

  • Elevator
  • Other
  • Barbeque
  • Courtyard
  • Other View

Location

Approximate — shows the building, not the unit. Open in maps (opens in a new tab)

Estimated loan & HOA

$3,117

Loan payment and HOA only. Property tax and insurance are significant here and are not included.

Principal & interest
$2,528
HOA
$589 / mo

Illustration only — not a loan offer, quote, or commitment. Assumes a 30-year loan at 6.5% with 20% down (rates as of July 2026); your actual terms will differ.

Schedule a tour

Request a private or video tour with a local agent.

Courtesy of
One World Properties

Run the numbers

We fill in the price and the building's HOA dues. That leaves rent, tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Vacancy and the loan terms below start at common defaults; change them.

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 rent, 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. 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.