19
  • Type
  • Condominium
  • 2
  • Bedrooms
  • 2
  • Bathrooms
  • 1
  • Garage
  • 818 Sq Ft
  • Area Size
398 NE 5th St # 3811, Miami FL 33132 | Miami-Dade County | A11969815
  • $1,385,000

Description

Unit 3811 at Elser Hotel & Residences is a stunning 2-bedroom, 2-bathroom residence offering breathtaking bayfront and direct water views. From its elevated position, enjoy spectacular panoramas of the park and Biscayne Bay, with unforgettable sunrises and vibrant city lights at night.
The unit is fully furnished and turnkey, ready to be occupied immediately or placed into income production from day one. Floor-to-ceiling windows flood the space with natural light, enhancing the modern design and showcasing the incredible waterfront scenery.
Located in one of Downtown Miami’s most desirable buildings, the residence allows short-term rentals, including daily rentals, making it an exceptional opportunity for investors seeking strong income potential, as well as end users who value flexibility.
A rare opportunity to own a prime waterfront property with spectacular views and full short-term rental freedom.

Property Overview

This is a 2-bedroom, 2-bath condominium of about 818 square feet at 398 NE 5th St # 3811, Miami FL 33132 (Miami 33132), listed at $1,385,000.

Monthly Costs, Stated Plainly

The monthly HOA fee is $1,543.

The tax of record is $23,931 (2025). As an ESTIMATE ONLY — Florida reassesses at sale — at this price and a Miami-Dade rate near 2.0%: without homestead, about $27,700/yr (≈ $2,308/mo); with the homestead exemption on a primary residence, about $26,700/yr (≈ $2,225/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 $1,385,000. The listing record does not explicitly state whether the unit is sold furnished; this is a critical point for verification, as only fixtures and permanently installed appliances are guaranteed to convey with the home itself.

Community amenities, noted as "Other" on record, are shared HOA features and do not convey as private property. For a precise inventory of what is included, you should contact Christopher Lazaro, Miami Real Estate Broker Associate, to review the seller's disclosures.

Where exactly is it, and what should I know about the location?

The property at 398 NE 5th St # 3811 is located in Miami, 33132. This places it within the city's coastal corridor, offering proximity to major thoroughfares and waterfront areas.

For a detailed discussion of the neighborhood's specific attributes and available building information, contact Christopher Lazaro, Miami Real Estate Broker Associate, to verify and receive a comprehensive location report.

What are the HOA / association fees, and what do they cover?

The monthly HOA fee for this unit is $1,543. This charge covers the building's general operations, insurance for common areas, and maintenance that includes janitorial services, pest control, and trash removal, as outlined in the association's governing documents.

As with all Miami properties, the community is also subject to applicable city ordinances. For a complete review of the association's financials and a precise breakdown of coverage, you should contact Christopher Lazaro, Miami Real Estate Broker Associate, for verification.

What are the property taxes and homestead implications?

The tax of record is $23,931 (2025). As an estimate only—Florida reassesses upon sale—at the list price of $1,385,000 and a Miami-Dade rate near 2.0%, annual property taxes would be approximately $27,700 without a homestead exemption, or about $26,700 with one, which lowers the taxable value for a primary residence. These figures are estimates, not quotes.

You must confirm final amounts with the Miami-Dade Property Appraiser and a tax professional. For precise verification and further implications, contact Christopher Lazaro, Miami Real Estate Broker Associate.

Is the home in a flood zone, and what does that mean?

This property is in a designated flood zone, a FEMA classification indicating its risk level for flooding. You can review the official FEMA definitions for flood zones and view the FEMA flood map for this address for precise details. Lenders frequently mandate flood insurance for properties in high-risk zones, which impacts ownership costs.

For a complete verification of the zone and its implications, contact Christopher Lazaro, Miami Real Estate Broker Associate, for a detailed assessment.

Are pets allowed?

The MLS record for unit 3811 lists 'Restrictions Or Possible Restrictions'. This means pets are allowed, with restrictions (or possible restrictions). We will pull the association's exact current pet rules for this unit upon request.

Separate federal accommodation rules apply for documented service or emotional support animals. For definitive verification of the pet policy, contact Christopher Lazaro, Miami Real Estate Broker Associate.

How is the price set and is there room to negotiate?

The price was established using a competitive market analysis for this building and vicinity. Recent Miami-Dade condo sales have been closing at an average of 94% of the asking price, with properties spending roughly 64 days on market.

To determine the precise negotiation range for unit 3811, I recommend a current, Miami-specific CMA. You should verify this analysis by contacting Christopher Lazaro, Miami Real Estate Broker Associate.

What financing step do you recommend before touring?

Before touring, secure a pre-approval from a Florida Licensed Mortgage Loan Originator. This clarifies your budget and strengthens your position. To discuss this step and verify details for 398 NE 5th St # 3811, reach out to Christopher Lazaro, Miami Real Estate Broker Associate.

Monthly Fees & Carrying Costs

Association Fee $1,543 / month
Total Monthly Fees $1,543 / 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: 5th St
  • City: Miami
  • State/county: Miami-Dade County
  • Zip/Postal Code: 33132
  • Area: MAP OF MIAMI DADE CO. FL.

Details

Updated on September 23, 2026 at 9:51 am
  • Property ID A11969815
  • Price $1,385,000
  • Property Size 818 Sq Ft
  • Bedrooms 2
  • Room 0
  • Bathrooms 2
  • Garage 1
  • Year Built 2024
  • Type Condominium
  • Property Status Active, Residential

Additional details

  • View Bay, Intracoastal View, Water View
  • Cooling Central Air
  • Heating Other
  • Tax Year 2025
  • Flooring Other
  • Unit Floor 38
  • Inclusions Other
  • Unit Number 3811
  • Building The Elser Hotel
  • Frontage Bay
  • Garage Spaces 1
  • Listing Terms All Cash, Conventional
  • Area Map Of Miami Dade Co. Fl.
  • Total Stories 55
  • Waterfront Yes
  • Association Yes
  • Full Bathrooms 2
  • Half Bathrooms 0
  • Covered Spaces 1
  • Style Condo 5+ Stories
  • Private Pool No
  • Structure Type Condo 5+ Stories, Condo
  • Association Fee 1543
  • Parking 1 Space, Covered, Valet
  • Subdivision MAP OF MIAMI DADE CO. FL.
  • Annual Tax 23931
  • Year Built Details New Construction
  • Building Area 818
  • Lot Size (Sq Ft) 0
  • Flood Zone X
  • New Construction Yes
  • Attached Yes
  • Waterfront Features Ocean Front
  • Bedroom Features Other
  • Amenities Other
  • Restrictions Daily Rentals Allowed
  • Construction Concrete Block Construction
  • Pets Allowed Yes
  • Association Fee Frequency Monthly
  • Association Type Condo
  • Maintenance Includes Other Maintenance Includes
  • Membership Purchase Required No

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