19
  • 0
  • Bedroom
  • 1
  • Bathroom
  • 412 Sq Ft
  • Area Size
121 NE 5th St # 3200, Miami FL 33132 | Miami-Dade County | A12039927
  • $468,000

Description

A move-in-ready, fully furnished studio in a building that permits short-term rentals a key differentiator in Downtown Miami, where Airbnb-approved inventory is limited and commands a premium. The 411 SqFt layout includes a 38 SF balcony above-average outdoor space for the segment plus integrated premium appliances and in-unit washer/dryer, reducing furnishing and turnover costs whether you’re targeting nightly stays or longer-term leases.
Location is the core thesis: directly adjacent to the Brightline station and Metromover, and steps from the Miami Worldcenter development a multi-billion-dollar project anchoring sustained demand and infrastructure investment in the corridor. Proximity to the Kaseya Center, Museum Park, and Downtown’s dining and entertainment scene drives consistent guest and tenant appeal.
Building amenities (rooftop pool, fitness center, co-working spaces, 24-hour concierge) support premium nightly rates and strong occupancy. A brand-new 2025 build minimizes near-term capex and maintenance risk a low-friction, flexible-use addition to any rental portfolio.

Property Overview

This is a move-in-ready studio unit at 501 FIRST RESIDENCES in Downtown Miami, featuring one full bathroom and 412 square feet of living space. The unit is fully furnished and includes a 38-square-foot balcony, which offers above-average outdoor space for a studio. It also has integrated premium appliances and in-unit washer/dryer, which are convenient for both short-term rentals and long-term use. The building allows short-term rentals, a rarity in the area that can be a strong advantage for generating income. Built in 2025, the unit is brand new and requires little to no maintenance. Located at 121 NE 5th St #3200, the unit is directly across from the Brightline station and close to the Metromover, making it easy to access different parts of the city. It’s also near the Miami Worldcenter, a large development driving infrastructure and long-term demand in the corridor. Nearby attractions like the Kaseya Center, Museum Park, and Downtown’s dining and entertainment options support steady tenant and guest interest. The building offers a rooftop pool, fitness center, co-working spaces, and 24-hour concierge, which enhance the property’s appeal and support premium rental rates.

Frequently Asked Questions

What is the size of the unit?

The unit has a total living area of 412 square feet, including a 38 square foot balcony.

How many bedrooms and bathrooms does it have?

This unit is a studio with one full bathroom.

Is the unit furnished?

Yes, the unit is fully furnished and move-in-ready.

Can the unit be rented short-term?

Yes, the building allows for short-term rentals, which is uncommon in Downtown Miami.

What are the HOA fees?

The monthly HOA fee is $589.

What amenities does the building offer?

The building includes a rooftop pool, fitness center, co-working spaces, and 24-hour concierge services.

Monthly Fees & Carrying Costs

Association Fee $589 / month
Total Monthly Fees $589 / month
  • Membership Required: No
  • Application Fee: $100 (one-time)

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  • Address: 5th St
  • City: Miami
  • Zip/Postal Code: 33132

Details

Updated on July 10, 2026 at 12:35 am
  • Property ID A12039927
  • Price $468,000
  • Property Size 412 Sq Ft
  • Bedroom 0
  • Room 0
  • Bathroom 1
  • Year Built 2025
  • Property Status Active, Residential

Additional details

  • Flooring Ceramic Floor
  • Bedroom Features Entry Level, Primary Bath Shower, Studio
  • Cooling Central Air
  • Association Type Condo
  • Building 501 FIRST RESIDENCES
  • Association Fee Frequency Monthly
  • Area 501 First Residences
  • Annual Tax 0
  • Association Yes
  • Private Pool No
  • Listing Terms Cash
  • Waterfront No
  • Full Bathrooms 1
  • Subdivision 501 FIRST RESIDENCES
  • Total Stories 40
  • Restrictions Daily Rentals Allowed, No Restrictions
  • Maintenance Includes All Amenities, Hot Water, Internet/WiFi, Sewer, Trash Removal, Water
  • Amenities Barbecue, Business Center, Clubhouse-Clubroom, Elevator(s), Exercise Room, Heated Pool, Pool, Spa/Hot Tub, Trash Chute
  • Parking Valet
  • Heating Central
  • Structure Type Condo-Hotel, Condo
  • Tax Year 2026
  • Construction Concrete Block Construction
  • Building Area 412
  • Covered Spaces 0
  • Unit Floor 3200
  • View Bay, Water View
  • Year Built Details Effective Year Built
  • Pets Allowed Yes
  • Attached Yes
  • Unit Number 3200
  • Half Bathrooms 0
  • New Construction No
  • Garage Spaces 0
  • Style Condo-Hotel
  • Association Fee 589
  • Lot Size (Sq Ft) 0
  • Membership Purchase Required No

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