121 NE 5th St # 2102, Miami FL 33132 | Miami-Dade County | A12023677
- $625,000
- Condominium
- 1
- 2
- 1
- 544 Sq Ft
- $625,000
Description
Best deal at 501 First! Modern 1 Bed + Den condominium located in the heart of Downtown Miami, with exceptional views and prime positioning within the building. This unit is one of the few in the area featuring no rental restrictions, making it ideal for short-term or long-term rental income or personal use with maximum flexibility. Delivered fully furnished in a brand-new building, the residence has never been occupied, presenting a true turnkey opportunity for the next owner. Residents enjoy incredible, top-of-the-line amenities designed to elevate the lifestyle experience, including resort-style common areas and premium building features that support both comfort and strong rental demand. With the best location and one of the most desirable views in the building, the smart layout maximizes space and functionality. Situated steps from top dining, entertainment, shopping, and transit, this property represents a rare opportunity to own in a high-demand urban market with strong investment upside.
Property Overview
This is a 1-bedroom, 2-bath condominium of about 544 square feet at 121 NE 5th St # 2102, Miami FL 33132 (Miami 33132), listed at $625,000.
Monthly Costs, Stated Plainly
The monthly HOA fee is $890.
As an ESTIMATE ONLY — Florida reassesses at sale — at this price and a Miami-Dade rate near 2.0%: without homestead, about $12,500/yr (≈ $1,042/mo); with the homestead exemption on a primary residence, about $11,500/yr (≈ $958/mo). Confirm with the Miami-Dade Property Appraiser and a tax professional — these are estimates, not quotes.
Frequently Asked Questions
What is the list price, and what typically conveys with a home like this?
The list price is $625,000. Fixed fixtures and built-in appliances generally convey with the home, but the MLS record does not state if the unit is furnished; you must confirm which specific items are included.
Shared community amenities include a bar, business center, cabana, and clubhouse-clubroom. Contact Christopher Lazaro, Miami Real Estate Professional, to verify all details.
Where exactly is it, and what should I know about the location?
This property is located at 121 NE 5th St # 2102, Miami FL 33132, situated within the city's coastal corridor. The unit is listed at $625,000 and contains one bedroom and two bathrooms across approximately 544 sqft.
Contact Christopher Lazaro, Miami Real Estate Professional, to verify these location details.
What are the HOA / association fees, and what do they cover?
The monthly HOA fee is $890. This fee covers Cable Tv and Internet/WiFi. The community is subject to city ordinances found at https://library.municode.com/fl/miami/codes/code_of_ordinances.
Contact Christopher Lazaro, Miami Real Estate Professional, to verify these details.
What are the property taxes and homestead implications?
As an ESTIMATE ONLY — Florida reassesses at sale — at this price and a Miami-Dade rate near 2.0%: without homestead, about $12,500/yr (≈ $1,042/mo); with the homestead exemption on a primary residence, about $11,500/yr (≈ $958/mo). Florida's homestead exemption lowers taxable value only for a primary residence.
Confirm with the Miami-Dade Property Appraiser and a tax professional — these are estimates, not quotes. Contact Christopher Lazaro, Miami Real Estate Professional, to verify these figures.
Is the home in a flood zone, and what does that mean?
Flood zones categorize areas by their risk of flooding, as defined in the FEMA glossary. Lenders often require flood insurance if a property sits in a high-risk zone. View the FEMA flood map for this address to see the specific designation for this unit.
Contact Christopher Lazaro, Miami Real Estate Professional, to verify these details.
Are pets allowed?
The MLS record for 121 NE 5th St # 2102 states that pets over 20 lbs are allowed. Separate federal accommodation rules apply if a documented service animal or ESA is involved.
Contact Christopher Lazaro, Miami Real Estate Professional, to verify these details.
How is the price set and is there room to negotiate?
Miami-Dade condos have recently been closing at 94% of list, about 64 days on market (MIAMI REALTORS®, May 2026). The $625,000 price for 121 NE 5th St # 2102 is derived from a CMA focusing on this specific building and vicinity.
I provide a Miami-specific CMA to buyers before they set an offer to ensure the value is accurate. Contact Christopher Lazaro, Miami Real Estate Professional, to verify these figures.
What financing step do you recommend before touring?
Secure a pre-approval before touring 121 NE 5th St # 2102 to confirm your buying power for this $625,000 residence. You should seek the advice of a Florida Licensed Mortgage Loan Officer to establish your budget.
Contact Christopher Lazaro, Miami Real Estate Professional, to verify these details.
Monthly Fees & Carrying Costs
| Association Fee | $890 / month |
| Total Monthly Fees | $890 / month |
- Membership Required: No
- Application Fee: $100 (one-time)
Have a question about this Miami listing?
Talk directly with Christopher Lazaro, your Miami real estate advisor. No pressure — real answers.
Address
Open on Google Maps-
Address: 5th St
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City: Miami
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State/county: Miami-Dade County
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Zip/Postal Code: 33132
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Area: 501 1ST AVE
Details
Updated on September 19, 2026 at 5:48 am-
Property ID A12023677
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Price $625,000
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Property Size 544 Sq Ft
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Bedroom 1
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Room 0
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Bathrooms 2
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Garage 1
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Year Built 2026
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Type Condominium
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Property Status Active, Residential
Additional details
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View Bay, Skyline
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Cooling Central Air
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Heating Central
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Tax Year 2026
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Flooring Ceramic Floor
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Unit Floor 21
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Inclusions None
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Unit Number 2102
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Building 501 1ST AVE
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Frontage Bay
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Garage Spaces 1
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Listing Terms All Cash, Conventional, Cryptocurrency
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Area 501 1st Ave
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Total Stories 40
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Waterfront Yes
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Association Yes
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Full Bathrooms 2
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Half Bathrooms 0
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Covered Spaces 1
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Style Condo 5+ Stories
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Private Pool No
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Structure Type Condo 5+ Stories, Condo
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Association Fee 890
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Parking 1 Space, Valet
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Subdivision 501 1ST AVE
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Annual Tax 0
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Year Built Details New Construction
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Building Area 544
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Lot Size (Sq Ft) 0
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New Construction Yes
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Attached Yes
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Bedroom Features Entry Level
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Amenities Bar, Business Center, Cabana, Clubhouse-Clubroom
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Restrictions No Restrictions
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Construction Concrete Block Construction
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Pets Allowed Yes
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Patio / Porch Deck, Open Balcony
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Association Fee Frequency Monthly
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Association Type Condo
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Maintenance Includes Cable Tv, Internet/WiFi
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Membership Purchase Required No
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