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Single Family Residence
$2,100,000$405 / sqft
5900 NE 5th Ave, Miami FL 33137
Listed
4
Bedrooms
3
Bathrooms
5,180 sqft
Interior
1925
Year built
Single Family Residence
Type
About this home
HUGE PRICE DROP! ENORMOUS OPPORTUNITY FOR THE RIGHT BUYER!! Motivated seller of this assemblage of Bayshore lots; price just reduced. Three lots, totaling ½ an acre, on the corner of 59th St. & 5th Ave in rapidly changing Palm Grove. On site is a 100-year-old home spanning 5409 sf. New kitchen & appliances & bathroom. A grand home w/ richly appointed generous rooms. Owned by a prominent Miami family for 80 years. Presently zoned as single family residential, the property is surrounded by single & multi-family and commercially-zoned properties. This home is in the Palm Grove Historic District, and given its age is likely to be deemed "contributing" to the historic ambience of the community. So Seller is looking for that buyer who is willing and able to bring this home back to its former grandeur. Plenty of room to add on to the original core home, whilst preserving the original structure. This is probably the largest single family lot in all of Palm Grove, and is surrounded by an imposing wall. Inside are quiet courtyards under towering trees. Just off Biscayne, this area is undergoing dynamic changes. A nearby property one half this size recently sold for over $6M. Property could become a stand out stunning estate home in the center of it all -- for the right buyer. The potential here is unrivaled... Seller is very motivated. Contact Agent. See property. Make an offer.
Features
- First Floor Entry
- Bar
- Closet Cabinetry
- Entrance Foyer
- French Doors
- Other
- Skylight
- Walk-In Closet(s)
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Median asking rent for 4-bed rentals across Miami-Dade, from 200 active listings; the middle half ask $3,800–$9,500.That is what landlords ask, not what units let for — edit it if you know better.
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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.