5 Island Ave # 2F, Miami Beach FL 33139 | Miami-Dade County | A12025234
- $475,000
- Condominium
- 1
- 1.5
- 1
- 950 Sq Ft
- $475,000
Description
Experience elevated Miami living in this fully remodeled residence on prestigious Belle Isle, offering breathtaking bay and downtown skyline views. This immaculate 1-bedroom, 1 full bath + 1 half bath home blends modern elegance with effortless coastal living. Featuring an open-concept layout with high ceilings and abundant natural light, the residence showcases sophisticated finishes, warm wood flooring, and a bright, airy ambiance throughout. The designer kitchen is thoughtfully appointed with quartz countertops, custom cabinetry, and stainless steel appliances, seamlessly flowing into the living and dining spaces—perfect for both everyday living and entertaining. Located in an iconic Morris Lapidus building on the sought-after Venetian Islands, residents enjoy resort-style amenities including 24/7 front desk service, fitness center, waterfront pool, and assigned parking. Ideally situated just steps from The Standard Hotel and within walking distance to Sunset Harbour, top dining, boutique shopping, fitness studios, Publix, Trader Joe’s, and Lincoln Road. Whether as a primary residence, vacation retreat, or investment opportunity, this turnkey residence offers luxury, convenience, and the best of Miami living. Water, cable, and internet.
Property Overview
This is a 1-bedroom, 1.5-bath condominium of about 950 square feet at 5 Island Ave # 2F, Miami Beach FL 33139 (Miami Beach 33139), listed at $489,000.
Monthly Costs, Stated Plainly
The monthly HOA fee is $1,425.
The tax of record is $8,081 (2024). As an ESTIMATE ONLY — Florida reassesses at sale — at this price and a Miami-Dade rate near 2.0%: without homestead, about $9,780/yr (≈ $815/mo); with the homestead exemption on a primary residence, about $8,780/yr (≈ $732/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 5 Island Ave # 2F is $489,000. Built-in appliances and fixtures 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.
Distinguish these private assets from shared HOA amenities, which include the pool, exercise room, clubhouse-clubroom, laundry, and bike storage. Contact Christopher Lazaro, Miami Beach Real Estate Realtor, to verify all inclusions.
Where exactly is it, and what should I know about the location?
This unit is located at 5 Island Ave # 2F, Miami Beach FL 33139, situated within the coastal corridor of Miami Beach 33139. The property is listed at $489,000.
Contact Christopher Lazaro, Miami Beach Real Estate Realtor, to verify location details.
What are the HOA / association fees, and what do they cover?
The monthly HOA fee is $1,425. This payment covers all amenities, common area, elevator, insurance, landscaping/lawn maintenance, laundry facilities, manager, pest control interior, pool service, recreation facilities, sewer, trash removal, and water.
The community is subject to city ordinances found at https://library.municode.com/fl/miami-beach/codes/code_of_ordinances . Contact Christopher Lazaro, Miami Beach Real Estate Realtor, to verify these details.
What are the property taxes and homestead implications?
The tax of record is $8,081 (2024). As an ESTIMATE ONLY, Florida reassesses at sale; at this price and a Miami-Dade rate near 2.0%, the cost is about $9,780/yr (≈ $815/mo) without homestead, or about $8,780/yr (≈ $732/mo) with the homestead exemption. Florida's homestead exemption lowers taxable value only for a primary residence.
Confirm with the Miami-Dade Property Appraiser and a tax professional, as these are estimates, not quotes. Contact Christopher Lazaro, Miami Beach Real Estate Realtor, to verify.
Is the home in a flood zone, and what does that mean?
Flood zones are designated areas with varying levels of risk for flooding, as defined by FEMA. Lenders often require flood insurance for properties located in high-risk zones. View the FEMA flood map for this address to see the specific designation for 5 Island Ave # 2F.
Contact Christopher Lazaro, Miami Beach Real Estate Realtor, to verify these details.
Are pets allowed?
Records indicate pets are not allowed or are heavily restricted at 5 Island Ave # 2F. Service animals are protected under the ADA and Fair Housing Act and cannot be categorically banned, as they function more like a wheelchair than a pet. Emotional Support Animals (ESAs) are protected under the FHA as a reasonable accommodation with proper documentation, subject to association review and evolving 2026 HUD guidance.
Consult a Florida real-estate attorney for specific legal guidance. Refer to this resource and this article for further detail. Contact Christopher Lazaro, Miami Beach Real Estate Realtor, to verify current rules.
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 $489,000 listing price for 5 Island Ave # 2F is derived from a CMA of the building and its vicinity.
I provide a Miami Beach-specific CMA to buyers before they set an offer to ensure the price is grounded. Contact Christopher Lazaro, Miami Beach Real Estate Realtor, to verify these details.
What financing step do you recommend before touring?
Get pre-approved before touring 5 Island Ave # 2F to ensure your budget aligns with the $489,000 list price. Speak with a Florida-licensed MLO to secure your financing terms. Contact Christopher Lazaro, Miami Beach Real Estate Realtor, to verify these details.
Monthly Fees & Carrying Costs
| Association Fee | $1,425 / month |
| Total Monthly Fees | $1,425 / month |
- Membership Required: No
- Application Fee: $100 (one-time)
Have a question about this Miami Beach listing?
Talk directly with Christopher Lazaro, your Miami Beach real estate advisor. No pressure — real answers.
Address
Open on Google Maps-
Address: Island Ave
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City: Miami Beach
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State/county: Miami-Dade County
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Zip/Postal Code: 33139
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Area: ISLAND TERRACE CONDO
Details
Updated on September 20, 2026 at 2:38 am-
Property ID A12025234
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Price $475,000
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Property Size 950 Sq Ft
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Bedroom 1
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Room 0
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Bathrooms 1.5
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Garage 1
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Year Built 1967
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Type Condominium
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Property Status Active, Residential
Additional details
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View Water View
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Cooling Central Air, Electric
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Heating Central, Electric
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Tax Year 2024
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Flooring Wood
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Unit Floor 5
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High School Miami Beach
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Inclusions Other
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Unit Number 2F
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Building Island Terrace condo
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Garage Spaces 1
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Listing Terms All Cash, Conventional
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Area Island Terrace Condo
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Total Stories 16
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Waterfront Yes
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Association Yes
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Full Bathrooms 1
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Half Bathrooms 1
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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 1425
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Parking 1 Space
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Subdivision ISLAND TERRACE CONDO
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Annual Tax 8081
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Elementary School North Beach
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Year Built Details Resale
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Building Area 950
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Lot Size (Sq Ft) 0
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Flood Zone AE
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New Construction No
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Attached Yes
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Waterfront Features Ocean Access
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Bedroom Features None
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Amenities Bike Storage, Clubhouse-Clubroom, Laundry, Exercise Room, Pool
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Restrictions No Daily Rentals, No Lease-1st Year Owned
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Middle School Nautilus
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Construction CBS Construction
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Pets Allowed No
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Association Fee Frequency Monthly
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Association Type Condo
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Membership Purchase Required No
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