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$490,000

  • For Sale
  • Active
  • Condo
  • 1 Full Bath
  • 447 Sq. Ft.
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Unit 807 Studio Turnkey investment opportunity at 501 First Residences, a modern Downtown Miami building allowing daily rentals with no minimum restrictions-ideal for short-term rental investors. Unit 807 is a well-designed studio residence offering 447 SF (42 m²) with an efficient open layout, floor-to-ceiling impact windows, and a private balcony providing natural light and urban city ambiance. Delivered fully furnished with blinds and sofa bed, this unit is ready for immediate rental income. The residence also includes a storage provided by the association, adding additional convenience and flexibility for owners and guests. 501 First Residences offers resort-style amenities, co-working spaces, fitness center, social lounges, and prime walkability to Miami Worldcenter, Brightline Station, Bayfront Park, dining, entertainment, and major transportation corridors. An ideal plug-and-play investment in one of Miami's fastest-growing short-term rental markets.

Full Property Details for 121 NE 5th St #807

General

  • Price: $490,000
  • HOA FEE: $657/month
  • Taxes: (2025)
  • Status: Active
  • Type: Condo
  • Source: Greater_Miami
  • MLS ID: A11961922
  • Updated: 2/9/2026
  • Added to Site: 16 day(s) ago

Interior

  • Interior Features: First Floor Entry
  • Appliances: Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Washer
  • Furnishings: Furnished, Turn Key Furnished
  • Flooring: Ceramic Floor

Rooms

Bathrooms

  • Total Bathrooms: 1
  • Full Bathrooms: 1
  • Primary Bathroom: Shower Only

Bedrooms

  • Bedroom Features: Entry Level, Studio

Additional Information

  • Shared Amenities: Exercise Room, Kitchen Facilities, Pool
  • Maint. Includes: All Amenities, Cable Tv, Hot Water, Internet/WiFi, Water
  • Security/Safety: Doorman, Elevator Secure, Lobby Secured

Exterior

  • Exterior Features: East Of Us1
  • Deck/Patio: Patio

Parking

  • Parking Features: None

Location

  • Area: 501 First Residences
  • County: Miami-Dade County
  • Subdivision: 501 First Residences
  • Building Name: 501 First Residences
  • Direction Faces: South

Community

  • Community Name: 501 First Residences
  • Association: Yes
  • Pets Allowed: Yes

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Central Air
  • Heating Type: Central

Structural Information

  • Architectural Style: High Rise
  • Structure Type: Condo 5+ Stories, Condo
  • Detached/Attached: Attached
  • Construction: CBS Construction
  • Doors: High Impact Doors
  • Entry Floor Number: 8
  • Square Feet: 447
  • Living Area: 447 Sq. Ft.
  • Year Built: 2025
  • Property Condition: New Construction

Lot Features

  • Property View: Skyline

Financial Considerations

  • Price Per Sq. Ft.: $1,096.2
  • Association Fee: $657
  • Assoc Fee Freq.: Monthly
  • Tax Year: 2025
  • Terms: All Cash, Conventional

Disclosures and Reports

  • Legal Description: 501 First Residences
  • Restrictions: Daily Rentals Allowed
  • Property ID: 00-00-00-000-0807

Listed by Optimar International Realty

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Listing agent

— 121 NE 5th St #807 —

  • Optimar International Realty

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 121 NE 5th St #807

School District:Dade County School District
NameGradesDistance
Frederick R. Douglass Elementary School
314 Northwest 12th Street, Miami, FL 33136
PK-50.7 mi
Jose De Diego Middle School
3100 Northwest 5th Avenue, Miami, FL 33127
6-82 mi
Booker T. Washington Senior High School
1200 Northwest 6th Avenue, Miami, FL 33136
9-120.9 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 121 NE 5th St #807 Get Price Alerts and Save Property

Date
Details
Price
Change
Source
2/09/2026
Listed
$490,000
31.02%
MLS
1/26/2026
Sold
$374,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 121 NE 5th St #807

Year
Property Taxes
Change
Tax Assessment
Change
2024
$85,707
5%
$4,900,000
—
2023
$81,451
12%
$4,900,000
40%
2021
$72,937
-9%
$3,489,159
-28%
2022
$79,753
9%
$4,876,638
40%
2021
$72,937
14%
$3,489,180
28%
2019
$64,097
8%
$2,724,608
10%
2018
$59,098
21%
$2,476,917
10%
2017
$48,755
-3%
$2,251,743
—
2016
$50,200
136%
$2,251,764
722%
2015
$21,272
94%
$273,986
10%
2014
$10,970
109%
$249,079
10%
2013
$5,237
—
$226,436
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 121 NE 5th St #807

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*These costs are estimates, and the interest rates assume exceptional credit standing.

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NMLS#: 1598647

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Listed by Optimar International Realty

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121 NE 5th Street #807, Miami, FL 33132 (MLS# A11961922) is a Condo property with 0 bedrooms and 1 full bathroom. 121 NE 5th Street #807 is currently listed for $490,000 and was received on February 09, 2026. Want to learn more about 121 NE 5th Street #807? Do you have questions about finding other Condo real estate for sale in Allapattah? You can browse all Allapattah real estate or contact a Coldwell Banker agent to request more information.

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