No matter how knowledgeable you are of Downtown Miami, one undeniable fact about this neighborhood is that it constantly will give you more bang for your buck in comparison to some of its nearby competitors. If your goals are to buy a property close to major shopping and dining within a modest budget that’s also way newer than units in Miami Beach then you will jump with joy when you realize that buying a unit in 50 Biscayne, just steps away from Bayfront Park, Bayside, and the American Airlines Arena for less than $250,000 is actually very doable. They’re ideal as investment properties, as an apartment in the city for the weekend and also happen to be fantastic starter units for those looking to move to Miami.
I do, however, get one question which more often than not disappoints some clients: Marcelo, does it have a view of the water? A partial view at least? The answer is often no unless of course, you get your hands in one of these units I’m about to show you.
Today’s observation features the Park Suites located in the 50 Biscayne development located right alongside Flagler St and Biscayne Blvd. These units are located through floors 4-9 and feature direct eastern views overlooking the park and the water. If you want a view of Bayfront Park and the water at a fraction of the cost in this area then this is your best option. If you’re looking to buy for rental income, these units unlike the ones in the rest of the building, allow short term rentals(30 days minimum) which is perfect for those that like spending time here during the winter months. Its unique eastern exposure and its flexible rental terms make this a hidden gem and very desirable floor plan. Above it all, these 50 Biscayne units are the only ones within this price range that offers these kind of views of the park.
Maintenance costs are surprisingly low at $320/month considering the vast array of amenities included in the building such as the pool, clubhouse,security, valet, and given its premier location right where two main streets of the city happen to intersect. At the time of writing this post, I noted the least expensive unit of this type available at $255,000 and its most expensive one $299,000. Even if your price ceiling happens to be $250,000 how much more valuable will a water view be in the future
For more information on Downtown Miami as well as its properties, contact Marcelo Steinmander today at 305-305-3885! We specialize and excel in properties throughout the urban and beachfront centers of Miami.