7244 E Lago Dr, Coral Gables FL 33143 | Miami-Dade County | A12022575
- $5,999,999
- Single Family Residence
- 5
- 4
- 2
- 4785 Sq Ft
- $5,999,999
Description
Located within the prestigious Islands of Cocoplum community in Coral Gables, the waterfront property represents a prime redevelopment opportunity. The existing residence is being offered for land value, providing developers or end users the chance to build a custom estate in one of South Florida’s most exclusive waterfront enclaves. Walking distance to private Clubhouse and amenities (tennis courts, basketball court, volleyball court, fitness center, playground and swimming pool). One time membership fee for new owners of $50,000.00. This sale is in connection with a Bankruptcy sale and is subject to court approval. The property is being sold “As-Is, Where-Is” with no representations, warranties, or guarantees of any kind, whether expressed or implied, by Trustee Realty. Buyers are responsible for conducting their own independent due diligence. Listing is subject to errors and omissions.
Property Overview
This is a 5-bedroom, 4-bath home of about 4785 square feet at 7244 E Lago Dr, Coral Gables FL 33143 (Coral Gables 33143), listed at $5,999,999.
Monthly Costs, Stated Plainly
The monthly HOA fee is $600.
The tax of record is $26,466 (2025). As an ESTIMATE ONLY — Florida reassesses at sale — at this price and a Miami-Dade rate near 2.0%: without homestead, about $120,000/yr (≈ $10,000/mo); with the homestead exemption on a primary residence, about $119,000/yr (≈ $9,917/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 7244 E Lago Dr is $5,999,999. Fixtures, built-in appliances, and the in-ground private pool convey with the property, while shared community amenities are separate and available for confirmation upon request.
The MLS record does not state if the home is furnished; you must confirm which specific items convey. Contact Christopher Lazaro, Coral Gables Real Estate Professional, to verify these details.
Where exactly is it, and what should I know about the location?
The property is located at 7244 E Lago Dr, Coral Gables FL 33143, situated within the coastal corridor of Coral Gables 33143. This location provides specific access to the surrounding regional infrastructure.
Contact Christopher Lazaro, Coral Gables Real Estate Professional, to verify location details.
What are the HOA / association fees, and what do they cover?
The monthly HOA fee is $600. This payment covers water, sewer, trash and common-area upkeep, though you should request the full schedule for complete confirmation.
The community is subject to city ordinances found at https://library.municode.com/fl/coral-gables/codes/code_of_ordinances . Contact Christopher Lazaro, Coral Gables Real Estate Professional, to verify these details.
What are the property taxes and homestead implications?
The tax of record is $26,466 (2025). As an ESTIMATE ONLY, Florida reassesses at sale; at this price and a Miami-Dade rate near 2.0%, the annual tax is an ESTIMATE of about $120,000/yr (≈ $10,000/mo) without homestead, or about $119,000/yr (≈ $9,917/mo) with the homestead exemption on a primary residence. 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, Coral Gables Real Estate Professional, to verify.
Is the home in a flood zone, and what does that mean?
Flood zones categorize areas by their risk of flooding. You can find FEMA definitions here and View the FEMA flood map for this address to see the specific designation for 7244 E Lago Dr. Lenders often require flood insurance in high-risk zones.
Contact Christopher Lazaro, Coral Gables Real Estate Professional, to verify these details.
Are pets allowed?
As a single-family home, this property has no condo or HOA board to dictate pet rules. Pets are at the owner's discretion, subject to city and county ordinances and any existing lease. Documented service animals and ESAs carry separate federal protections.
Contact Christopher Lazaro, Coral Gables Real Estate Professional, to verify specific details.
How is the price set and is there room to negotiate?
Miami-Dade single-family homes have recently been closing at 95% of original list, around 41 days to contract (MIAMI REALTORS®, May 2026). The specific valuation for 7244 E Lago Dr is derived from a CMA.
I provide a Coral Gables-specific CMA to ensure your offer is precise. Contact Christopher Lazaro, Coral Gables Real Estate Professional, to verify these details.
What financing step do you recommend before touring?
Secure a pre-approval before touring 7244 E Lago Dr to ensure your budget aligns with the $5,999,999 list price. You should connect with a Florida-licensed mortgage originator to establish your buying power.
Contact Christopher Lazaro, Coral Gables Real Estate Professional, to verify these details.
Monthly Fees & Carrying Costs
| Association Fee | $1,800 / quarter ($600/mo) |
| Total Monthly Fees | $600 / month |
- Membership Required: Yes
Have a question about this Coral Gables listing?
Talk directly with Christopher Lazaro, your Coral Gables real estate advisor. No pressure — real answers.
Address
Open on Google Maps-
Address: Lago Dr
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City: Coral Gables
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State/county: Miami-Dade County
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Zip/Postal Code: 33143
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Area: COCOPLUM SEC 2 PLAT B
Details
Updated on July 26, 2026 at 3:52 pm-
Property ID A12022575
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Price $5,999,999
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Property Size 4785 Sq Ft
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Bedrooms 5
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Room 0
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Bathrooms 4
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Garages 2
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Year Built 1982
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Type Single Family Residence
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Property Status Active, Residential
Additional details
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Flooring Other
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Waterfront Features Ocean Access, Canal Width 121 Feet Or More, Fixed Bridge(S)
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Bedroom Features Entry Level
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Cooling Electric
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Association Type Homeowners, Other
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Building COCOPLUM SEC 2 PLAT B
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Association Fee Frequency Quarterly
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Area Cocoplum Sec 2 Plat B
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Annual Tax 26466
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Association Yes
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Elementary School Sunset
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Private Pool No
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Listing Terms All Cash, Conventional
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Waterfront Yes
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Full Bathrooms 4
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Subdivision COCOPLUM SEC 2 PLAT B
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Restrictions Assoc Approval Required, Ok To Lease
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Parking Circular Driveway, Driveway
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Heating Electric
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Structure Type House
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Tax Year 2025
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Construction Concrete Block Construction
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Building Area 6122
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Covered Spaces 2
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Middle School Ponce De Leon
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View Canal, Direct Ocean, Pool
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Year Built Details Resale
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High School Coral Gables
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Inclusions Other
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Half Bathrooms 0
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Flood Zone AE
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Patio / Porch Patio
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New Construction No
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Garage Spaces 2
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Style WF/Pool/Ocean Access
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Association Fee 1800
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Lot Size (Sq Ft) 14700
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Membership Purchase Required Yes
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