121 NE 5 ST 2908, Miami, FL 33132 — MLS photo

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121 NE 5 ST 2908, Miami, FL 33132

Active · Condominium

$485,000

121 NE 5 ST 2908, Miami, FL 33132

Beds
1
Baths
1
Living area
535 sq ft
$ / sq ft
$907/sq ft
Year built
2025
Lot size
—
HOA fee
$877 Monthly
Annual tax
$0

About this property

DRASTICALLY REDUCED FOR QUICK SALE!-RENTED FOR $2500 UNTIL 6/14/2027- BUYER HAS TO ASSUME CURRENT LEASE-This newly completed 29th-floor residence at 501 First offers an exceptional turnkey opportunity with high-demand skyline views, no rental restrictions, and a prime location in the heart of Miami’s rapidly expanding Worldcenter district. Unit 2908 represents a high-yield asset in one of the city's most desirable new developments, perfectly positioned for both short-term rental income and long-term capital appreciation. This 1-bedroom, 1-bathroom unit featuring a sleek, modern floorplan designed for maximum efficiency. Located on the 29th floor, the unit offers 535 square feet of interior living area complemented by an expansive 86-square-foot balcony. The deep terrace provides north-facing views of the evolving urban core, overlooking iconic landmarks like the Freedom Tower and the Kaseya Center. Situated at the epicenter of Miami's multi-billion dollar Worldcenter project, the property offers unparalleled connectivity. Directly adjacent to the Brightline high-speed rail station, offering a critical transit link for travelers and business professionals alike. Steps away from world-class dining, the Miami Heat arena, and the upcoming world-class shopping promenades. The building’s policy allowing for unrestricted short-term rentals makes this an ideal candidate for high-frequency vacation rental platforms.

Property location

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121 NE 5 ST 2908, Miami, FL 33132

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Facts & features

Interior

Bedrooms
1
Bathrooms
1
Living area
535 sq ft
Flooring
Ceramic Tile, Tile
Appliances
Dryer, Dishwasher, Electric Range, Electric Water Heater, Disposal, Ice Maker, Microwave, Refrigerator, Washer
Cooling
Central Air, Electric
Heating
Central, Electric
Interior features
Bedroom On Main Level, Entrance Foyer, Living Dining Room
Furnished
Furnished

Exterior & Structure

Property type
Condominium
Year built
2025
Stories
40
Architectural style
High Rise
Construction
Block
Exterior features
Balcony, Security High Impact Doors, Porch
Pool
Association, Heated
View
Other, Skyline, Water

Parking

Garage spaces
0
Covered spaces
0
Parking features
Valet

HOA, Community & Financials

Association fee
$877 Monthly
Fee inclusions
Association Management, Amenities, Common Areas, Legal Accounting, Maintenance Structure, Pools, Sewer, Security, Trash, Water
Amenities
Billiard Room, Bike Storage, Business Center, Clubhouse, Community Kitchen, Fitness Center, Pool, Spa Hot Tub, Trash, Elevators
Security
Security Guard, Fire Sprinkler System, Smoke Detectors
Pets allowed
No
Annual tax
$0
Subdivision
501 FIRST RESIDENCES
County
Miami-Dade
Days on market
167
MLS listing ID
A12015913
Listing status
Active

Investment intelligence

Yield & ROI calculator

Pre-filled from this listing's price, HOA and tax record. Adjust anything to see returns update instantly.

Estimated monthly cash flow

-$1,392

Cap rate
2.2%
Net yield
2.2%
Cash-on-cash return
-12.3%
Gross yield
5.7%
Mortgage payment
$2,299/mo
Down payment
$121,250
Loan amount
$363,750
Annual NOI
$10,889

Estimates only — includes 5% maintenance reserve and ~3% closing costs in cash invested. Verify taxes, HOA and insurance before making an offer.