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Waterfront · Condominium
$408,000$390 / sqft
5005 Collins Ave, Miami Beach FL 33140
Listed
1
Bedrooms
2
Bathrooms
1,046 sqft
Interior
1964
Year built
$1,467 / mo
HOA
Condominium
Type
About this home
Discover a rare penthouse opportunity on iconic Millionaire's Row, where sweeping Intracoastal waters and the Miami skyline create an extraordinary backdrop to everyday living. Impeccably maintained and move-in ready, this spacious 1-bedroom, 2-full-bath residence offers the comfort and flexibility today's buyers seek, complemented by abundant natural light and impressive sunset views from the privacy of the top floor. The thoughtfully designed layout provides generous living and entertaining spaces, along with a dedicated office area and den enclosed by a glass partition, offering additional flexibility for work, guests, or everyday living. The pristine condition allows for immediate enjoyment. Residents enjoy resort-style amenities including 24-hour concierge, heated pool, beach service, fitness center, jacuzzi, library, BBQ area, valet, and direct beach access via the oceanfront boardwalk. The building has completed significant capital improvements, including impact windows and doors, and has successfully passed its 50-year certification. Ideally positioned moments from Fontainebleau, Soho Beach House, the Faena District, world-class dining, and the very best of Miami Beach living. The residence is currently leased through October 30, 2026, offering flexibility for buyers planning a future move or an effortless transition for those wishing to continue generating rental income, as the current tenant has expressed interest in extending their stay. Penthouse residences in this sought-after building rarely become available.
Features
- Interior Hall
- Lobby
- First Floor Entry
- Closet Cabinetry
- Elevator
- Shabbat Elevator
- Entrance Foyer
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 1-bed rentals in Miami Beach, from 200 active listings; the middle half ask $2,350–$4,500.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.