398 NE 5th St # 3714, Miami FL 33132 | Miami-Dade County | A11864160
- $695,000
- Condominium
- 1
- 2
- 1
- 665 Sq Ft
- $695,000
Description
Largest Bayfront 1-bedroom layout in the building (665 SF), a rare opportunity at The Elser Hotel & Residences.?The spacious layout and rare second full bathroom add rental flexibility compared to most 1-bedrooms in the building, making it suitable for both short-term and long-term rentals.
Approved for daily rentals with flexible management. Priced significantly below recent ’14 line sales and current inventory, presenting a strong value opportunity for buyers looking to scale, flexibility, and long-term upside.
Enjoy stunning bay views and full access to resort-style amenities including rooftop pool with restaurant & bar, hot tub, 2-story fitness center, business center, and ViceVersa, the award-winning lobby bar & restaurant.
Located in the heart of Downtown Miami, steps from Kaseya Center, Port of Miami, and top dining, arts, and nightlife. Positioned within a multi-billion dollar transformation of Downtown Miami, supporting long-term growth and demand.
Property Overview
This is a 1-bedroom, 2-bath condominium of about 665 square feet at 398 NE 5th St # 3714, Miami FL 33132 (Miami 33132), listed at $695,000.
Monthly Costs, Stated Plainly
The monthly HOA fee is $897.
The tax of record is $16,309 (2024). As an ESTIMATE ONLY — Florida reassesses at sale — at this price and a Miami-Dade rate near 2.0%: without homestead, about $13,900/yr (≈ $1,158/mo); with the homestead exemption on a primary residence, about $12,900/yr (≈ $1,075/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 for 398 NE 5th St #3714 in Miami is $695,000. The unit is listed as Furnished, meaning all included furniture and built-in appliances convey with the home.
Community amenities like the Bar, Barbecue, Business Center, Elevators, Exercise Room, Heated Pool, Pool, Private Pool, Putting Green, and Spa/Hot Tub are shared HOA features and do not convey with the unit. Contact Christopher Lazaro, Miami Real Estate Expert, to verify specific inclusions for this property.
Where exactly is it, and what should I know about the location?
The unit is at 398 NE 5th St # 3714 in Miami, FL 33132, situated within the coastal corridor. Contact Christopher Lazaro, Miami Real Estate Expert, to confirm location details.
What are the HOA / association fees, and what do they cover?
The monthly HOA fee is $897 and covers All Amenities, Building Exterior, Cable Tv, Common Area, Hot Water, Internet/WiFi, Outside Maintenance, Parking, Pool Service, Roof Repairs, Sewer, Trash Removal, and Water. The community is subject to Miami city ordinances, viewable at the municipal code. Confirm these details with Christopher Lazaro, Miami Real Estate Expert.
What are the property taxes and homestead implications?
The current tax of record for 2024 is $16,309. As an estimate only — Florida reassesses at sale — at the listed price of $695,000 and a Miami-Dade rate near 2.0%: without homestead, about $13,900/yr (≈ $1,158/mo); with the homestead exemption on a primary residence, about $12,900/yr (≈ $1,075/mo). These are estimates, not quotes; confirm with the Miami-Dade Property Appraiser and a tax professional. Reach Christopher Lazaro, Miami Real Estate Expert, to verify.
Is the home in a flood zone, and what does that mean?
Flood zones are areas categorized by FEMA based on flood risk levels. View the FEMA flood map for this address View the FEMA flood map for this address and review zone definitions here. Lenders typically require flood insurance if the property is in a high-risk zone. Contact Christopher Lazaro, Miami Real Estate Expert, to verify the flood status for this unit.
Are pets allowed?
Pets are allowed, with restrictions (or possible restrictions) as stated in the MLS record. We will provide the association's exact current pet rules for this unit upon request. If you have a documented service animal or ESA, separate federal accommodation rules apply. Contact Christopher Lazaro, Miami Real Estate Expert, to verify the specific requirements for this listing.
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 $695,000 price for 398 NE 5th St #3714 is set using a CMA for this building and vicinity, reflecting typical negotiation space in current conditions. Obtain a Miami-specific CMA before setting your offer. Contact Christopher Lazaro, Miami Real Estate Expert, to verify the details.
What financing step do you recommend before touring?
Get pre-approved for a mortgage before touring. Consult a Florida Licensed Mortgage Loan Originator to complete this step. Reach Christopher Lazaro, Miami Real Estate Expert, to verify your pre-approval status.
Monthly Fees & Carrying Costs
| Association Fee | $897 / month |
| Total Monthly Fees | $897 / 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 July 1, 2026 at 11:40 am-
Property ID A11864160
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Price $695,000
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Property Size 665 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 2022
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Type Condominium
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Property Status Active, Residential
Additional details
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Waterfront Features Ocean Front
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Bedroom Features Entry Level, Primary Bath Shower
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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 16309
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Association Yes
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Private Pool Yes
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Listing Terms All Cash, Conventional
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Neighborhood Downtown
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Waterfront Yes
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Full Bathrooms 2
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Subdivision MAP OF MIAMI DADE CO. FL.
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Total Stories 49
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Restrictions Daily Rentals Allowed
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Amenities Bar, Barbecue, Business Center, Elevator(s), Exercise Room, Heated Pool, Pool, Private Pool, Putting Green, Spa/Hot Tub
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Parking 1 Space
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Heating Central
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Structure Type Condo-Hotel, Condo
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Tax Year 2024
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Construction Concrete Block Construction
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Building Area 665
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Covered Spaces 1
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Unit Floor 37
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Frontage Bay
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View Bay, Ocean View, Direct Ocean
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Year Built Details Resale
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Pets Allowed Yes
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Attached Yes
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Unit Number 3714
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Inclusions None
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Half Bathrooms 0
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Flood Zone X
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Patio / Porch Open Balcony, Patio
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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 897
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Lot Size (Sq Ft) 0
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Membership Purchase Required No
Features
- Built-in Features
- Closet Cabinetry
- Dishwasher
- Disposal
- Dryer
- Electric Range
- Electric Water Heater
- Fire Sprinklers
- First Floor Entry
- Has a View
- Has Cooling System
- Has Garage
- Has Heating System
- Has Pool
- Has Waterfront
- Home Owners Association
- Ice Maker
- Microwave
- Open Balcony
- Property Attached
- Refrigerator
- Self Cleaning Oven
- Washer
Mortgage Calculator
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Down Payment
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Loan Amount
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Monthly Mortgage Payment
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Property Tax
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Monthly HOA Fees
