398 NE 5th St # 2602, Miami FL 33132 | Miami-Dade County | A11930233
- $620,000
- $620,000
Description
Experience modern luxury in the heart of Downtown Miami at The Elser Hotel & Residences. This fully furnished 26th-floor studio offers breathtaking Miami skyline and Biscayne Bay views, 9-ft ceilings, floor-to-ceiling windows, porcelain tile flooring, and a private balcony. Features include a full kitchen, in-unit washer/dryer, smart keyless entry, and smart thermostat. Enjoy resort-style amenities with a 132-ft rooftop pool, fitness center, sky lounge, business center, and concierge services. Prime location near Bayside, Kaseya Center, Metromover, dining, and entertainment. Investor-friendly building with short-term rentals/Airbnb allowed.
Property Overview
This is a -bedroom, 1-bath condominium of about 430 square feet at 398 NE 5th St # 2602, Miami FL 33132 (Miami 33132), listed at $620,000.
Monthly Costs, Stated Plainly
The monthly HOA fee is $661.
The tax of record is $9,695 (2025). As an ESTIMATE ONLY — Florida reassesses at sale — at this price and a Miami-Dade rate near 2.0%: without homestead, about $12,400/yr (≈ $1,033/mo); with the homestead exemption on a primary residence, about $11,400/yr (≈ $950/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 $620,000. What conveys with the home is not explicitly stated on the MLS record and requires verification; typically, all fixtures and built-in appliances are included.
Community amenities, such as the exercise room and pool, are shared HOA features and do not convey with the unit. For a precise inventory of what is included, you should contact Christopher Lazaro, Miami Real Estate Broker, for confirmation.
Where exactly is it, and what should I know about the location?
The property is located at 398 NE 5th Street, Unit 2602, in Miami, Florida 33132. This places it within the city's coastal urban corridor.
For a detailed evaluation of the building, immediate area dynamics, and available property disclosures, you should contact Christopher Lazaro, Miami Real Estate Broker, to verify all relevant information.
What are the HOA / association fees, and what do they cover?
The monthly HOA fee of $661 covers Air Conditioning Maintenance, All Amenities, Cable TV, and Common Area maintenance for the building. As a condominium, this community is also governed by applicable city ordinances.
For a complete review of the association's financials and governing documents, you should contact Christopher Lazaro, Miami Real Estate Broker, for verification.
What are the property taxes and homestead implications?
The tax of record is $9,695 for 2025. As an estimate only—Florida reassesses upon sale—the annual property tax near a 2.0% rate would be approximately $12,400 without a homestead exemption, or about $11,400 with one. Florida's homestead exemption lowers the taxable value only for a primary residence.
These are estimates, not quotes. Confirm final figures with the Miami-Dade Property Appraiser and a tax professional, and contact Christopher Lazaro, Miami Real Estate Broker, for detailed verification.
Is the home in a flood zone, and what does that mean?
This property is located in a high-risk flood zone, designated as an "AE" zone by FEMA. You can review the specific definitions of flood zones and View the FEMA flood map for this address.
This classification means lenders will require a separate flood insurance policy as a condition of the mortgage. For definitive verification of the zone and its implications for this condo, contact Christopher Lazaro, Miami Real Estate Broker.
Are pets allowed?
The MLS record shows 'Restrictions Or Possible Restrictions' for pets. This means pets are allowed, with restrictions or possible restrictions; I will obtain the association's exact, current pet rules for this unit upon request.
Separate federal accommodation rules apply for documented service animals or ESAs. For a definitive answer on this specific condo, contact Christopher Lazaro, Miami Real Estate Broker, to verify the policy.
How is the price set and is there room to negotiate?
The list price reflects recent Miami-Dade condo sales, which closed at 94% of list price with a 64-day market average. A comparative market analysis for this specific building and vicinity provided the precise figure of $620,000.
Before you submit an offer, I can prepare a detailed CMA for this Miami property. To review the data and discuss strategy, contact Christopher Lazaro, Miami Real Estate Broker.
What financing step do you recommend before touring?
I recommend securing a mortgage pre-approval before touring any property. This involves a licensed Florida mortgage professional reviewing your finances to confirm a loan amount you can borrow, which clarifies your search.
You can start that process with a qualified lender here. For verification and to discuss this condo listed at $620,000, please reach out to me, Christopher Lazaro, Miami Real Estate Broker, directly.
Monthly Fees & Carrying Costs
| Association Fee | $661 / month |
| Total Monthly Fees | $661 / month |
- Membership Required: No
- Application Fee: $150 (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: MAP OF MIAMI DADE CO. FL.
Details
Updated on August 10, 2026 at 12:39 pm-
Property ID A11930233
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Price $620,000
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Property Size 430 Sq Ft
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Bedroom 0
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Room 0
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Bathroom 1
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Garage 1
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Year Built 2022
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Type Condominium
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Property Status Active, Residential
Additional details
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Flooring Tile
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Bedroom Features Studio
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Cooling Central Air
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Association Type Condo
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Building THE ELSER
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Association Fee Frequency Monthly
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Area Map Of Miami Dade Co. Fl.
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Annual Tax 9695
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Association Yes
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Private Pool No
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Listing Terms All Cash, Conventional
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Waterfront No
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Full Bathrooms 1
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Subdivision MAP OF MIAMI DADE CO. FL.
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Total Stories 49
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Restrictions No Restrictions
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Maintenance Includes Air Conditioning Maintenance, All Amenities, Cable Tv, Common Area
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Amenities Exercise Room, Pool
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Parking Valet
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Heating Central
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Structure Type Condo-Hotel, Condo
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Tax Year 2025
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Construction Concrete Block Construction
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Building Area 430
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Covered Spaces 1
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Unit Floor 26
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View Ocean View, Skyline, Water View
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Year Built Details Effective Year Built
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Pets Allowed Yes
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Attached Yes
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Unit Number 2602
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Half Bathrooms 0
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Flood Zone X
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Patio / Porch Open Balcony
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New Construction No
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Garage Spaces 1
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Style Condo-Hotel
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Association Fee 661
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Lot Size (Sq Ft) 0
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Membership Purchase Required No
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