121 NE 5th Street

Miami, FL 33132

$590,000

$1,155/ft²

1Beds

1.5Baths

511Sq ft

2025Year built

CondoType

About this home

Prime investment opportunity in Downtown Miami at 121 NE 5th St, Unit 1506. Modern residence featuring floor-to-ceiling windows, private balcony, and sleek contemporary design. Ideal for primary living, vacation use, or income-producing investment. Located steps from Miami Worldcenter, Brightline, Bayside, top dining, entertainment, and major transit hubs. Positioned in one of Miami's fastest-growing urban corridors. Short-term rentals such as Airbnb allowed (verify building guidelines), offering exceptional income potential. Strong projected demand driven by Miami's expanding tourism market and upcoming global events including the FIFA World Cup. A rare opportunity to own a flexible, high-demand asset in the heart of Miami. Short-term rentals permitted (verify current building guidelines). Strong Airbnb income potential. Prime Downtown Miami location within walking distance to Miami Worldcenter, Kaseya Center, Brightline, PortMiami, and major attractions. High projected demand driven by continued tourism growth and upcoming global events including the FIFA World Cup.

Features

Private pool

Property details

Listing

MLS #: B26013348
Status: For sale
Listed on: Apr 9, 2026
Days on market: 123 days
Listing data updated: Jul 24, 2026

Interior

Beds: 1
Baths: 1.5
Living area: 511 ft²
Price per ft²: $1,155/ft²
Unit: 1506

Building & community

Type: Condo
Year built: 2025
HOA fee: $893/mo
County: Miami-Dade

Lot & exterior

Private pool: Yes

Days on market, price per ft² and the monthly HOA amount are calculated by this site from the MLS data shown; the association fee is normalized to a monthly figure.

True monthly cost

Mortgage (principal & interest): $2,983
Property taxes (est.): $541
Home insurance (est.): $433
Flood insurance (est.): —
HOA fee: $893

Estimated total$4,850*/mo

* Some cost lines aren't available yet for this listing; the total shown is incomplete.

Based on 20% down, a 6.5% rate and a 30-year loan, plus this home's estimated Florida carrying costs. All figures are illustrative estimates — not quotes, not financial or insurance advice.

Sources: flood zone — FEMA National Flood Hazard Layer; mortgage, taxes and insurance figures — this site's own estimates; HOA / CDD — as reported for this listing.

What will this home really cost you?

Building structural health (SIRS)

No filing record found

We couldn't find a SIRS filing record for this building in Florida's public DBPR database. That is not a red flag by itself: buildings under three stories are exempt, recent or mailed-in filings may not appear yet, and the name or address on file may differ from this listing.

Questions about this

What is a SIRS and why does it matter?

Since the Surfside collapse, Florida requires condo and co-op buildings three stories or taller to complete a Structural Integrity Reserve Study: an inspection-based plan that forces the association to fund structural repairs (roof, load-bearing walls, plumbing, electrical) instead of deferring them. It matters because underfunded buildings are the ones that surprise owners with large special assessments.

Has this building filed its SIRS?

We didn't find a filing record for this building in the DBPR's public database. Absence of a record does not mean the building is out of compliance — it may be exempt (under three stories), the filing may be recent or on paper, or the recorded name/address may differ. It IS the right question to ask before offering.

What is a special assessment?

A one-off charge the association levies on every owner when reserves don't cover a needed repair — in older coastal buildings they have ranged from a few thousand to over $100,000 per unit. The SIRS exists precisely to make these predictable and funded in advance. Always review the building's budget, reserves and meeting minutes before buying.

What should I check before buying in this building?

Florida law gives buyers the right to review the association's SIRS, milestone inspection reports, budget and reserves — the full study is available from the association by written request. Nilyan requests and walks through these documents with her buyers as part of the offer process.

Source: Florida DBPR public SIRS reporting database. Filing status is self-reported by the association; this is not an audit, inspection or safety certification, and absence of a record does not mean non-compliance. Data as of July 30, 2026.

Want the full structural picture of this building before you offer?