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Waterfront · Condominium
$420,000$442 / sqft
5 Island Ave # 5A, Miami Beach FL 33139
Listed
1
Bedrooms
2
Bathrooms
950 sqft
Interior
1967
Year built
$1,536 / mo
HOA
Condominium
Type
About this home
Discover waterfront living at its finest in this bright and spacious 1-bedroom, 1.5-bathroom condo at Island Terrace (Unit 5A) on Belle Isle in Miami Beach’s coveted Venetian Islands. Boasting approximately 950 square feet of open living space, this inviting residence features a functional layout with an eat-in kitchen, combined living/dining area, walk-in closets with ample storage, and a convenient half-bath for guests. Flooded with natural light and opening to a generous private balcony. Pool are offers stunning water views of Biscayne Bay and the glittering downtown Miami skyline—especially magical at night. The full-service, bayfront building delivers resort-style living with a heated waterfront pool overlooking the bay, a state-of-the-art fitness center, 24-hour doorman and secured lobby, kayak launch, bike storage, and elegant common areas. One assigned parking space is included, and the community is pet-friendly (with restrictions). Perfectly situated steps from the Venetian Causeway for biking or jogging, you’re moments from Sunset Harbour’s trendy shops, restaurants, and markets (Trader Joe’s, Whole Foods, Publix), plus easy access to South Beach, Lincoln Road, and all the vibrant energy of Miami Beach. Whether you’re seeking a primary residence, stylish second home, or smart investment, Unit 5A delivers the ultimate Miami Bayfront lifestyle with comfort, views, and convenience.
Features
- Walk-In Closet(s)
- Open Balcony
- Intracoastal View
- Other View
Leasing
- Minimum lease
- 365 days
- Leases permitted per year
- 1
- Renting Limited
Run the numbers
We fill in the price and the building's HOA dues. That leaves tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Rent starts from what comparable units are asking nearby. Vacancy and the loan terms below start at common defaults; change them.
Median asking rent for 1-bed rentals in Miami Beach, from 200 active listings; the middle half ask $2,350–$4,500.That is what landlords ask, not what units let for — edit it if you know better.
Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management
Cap rate
Cash-on-cash
Monthly cash flow
Net operating income
Enter property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.
Illustration only — not a loan offer, quote, or investment advice. We are not a lender and neither offer nor arrange financing. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.
Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.