$475,000
5 Island Avenue 2F
Miami Beach, FL 33139
Explore the area: Miami Beach homes for sale · Miami Dade County real estate
Price Check
How this price compares
- List price
- $475,000
- Price per sq ft
- $500
- Vs. nearby sales
- 3.8% below
- Days on market
- 119
This 1-bedroom condo in Island Terrace Condo is listed at $475,000, or $500 per square foot. The asking price has come down 5% from its original $499,995. It has been on the market for 119 days. The 5 most recent condo sales in the closings shown below sold at a median of $520 per square foot, so the asking price is 3.8% below what comparable homes here actually sold for.
Estimated monthly payment
$2,496 /mo
Principal and interest only, based on $95,000 down (20%), a 6.875% 30-year fixed rate. Property taxes, homeowners insurance, and the $1,425/mo HOA are not included.
Customize this estimateListing Snapshot
- Price
- $475,000
- Days on Site
- 119 Days
- Bedrooms
- 1
- Total Baths
- 2
- Full Baths
- 1
- Partial Baths
- 1
- Living Area
- 950 sqft
- Total Sq Ft
- 950 sqft
- Year Built
- 1967
- Property Type
- Condo
- MLS #
- A12025234
- Property Tax
- $8,081 (2024)
- HOA Fees
- $1,425 / Monthly
- Subdivision
- ISLAND TERRACE CONDO
- County
- Miami Dade
- Status
- Active
About This Property
Experience elevated Miami living in this fully remodeled residence on prestigious Belle Isle, offering breathtaking bay and downtown skyline views. This immaculate 1-bedroom, 1 full bath + 1 half bath home blends modern elegance with effortless coastal living. Featuring an open-concept layout with high ceilings and abundant natural light, the residence showcases sophisticated finishes, warm wood flooring, and a bright, airy ambiance throughout. The designer kitchen is thoughtfully appointed with quartz countertops, custom cabinetry, and stainless steel appliances, seamlessly flowing into the living and dining spaces—perfect for both everyday living and entertaining. Located in an iconic Morris Lapidus building on the sought-after Venetian Islands, residents enjoy resort-style amenities including 24/7 front desk service, fitness center, waterfront pool, and assigned parking. Ideally situated just steps from The Standard Hotel and within walking distance to Sunset Harbour, top dining, boutique shopping, fitness studios, Publix, Trader Joe’s, and Lincoln Road. Whether as a primary residence, vacation retreat, or investment opportunity, this turnkey residence offers luxury, convenience, and the best of Miami living. Water, cable, and internet.
Virtual TourGeneral Features
- Property Type
- Condo
- Status
- Active
- Year Built
- 1967
- Property Condition
- Resale
- Number of Stories
- 16
- Garage Spaces
- 1
- Living Sq Ft
- 950
- Total Sq Ft
- 950
Interior Features
- Appliances
- Dishwasher / Electric Range / Electric Water Heater / Microwave / Refrigerator
- Cooling
- Central Air / Electric
- Heating
- Central / Electric
- Flooring
- Wood
- Interior Features
- None
Exterior Features
- Construction
- Block
- Pool Features
- Association
- Waterfront
- Yes
- Waterfront Features
- Ocean Access / Other
- View
- Water
Community & HOA
- HOA Fee
- $1,425 / Monthly
- HOA Includes
- Common Areas / Insurance / Maintenance Grounds / Pest Control / Pools / Recreation Facilities / Sewer / Trash / Water
- Association Amenities
- Bike Storage / Clubhouse / Fitness Center / Maintenance Grounds / Laundry / Management / Pool / Elevators
- Security
- Elevator Secured / Lobby Secured / Smoke Detectors
- Pets Allowed
- No
- Financing Terms
- Cash / Conventional
- Restrictions
- No Lease2nd Year Owned
- MLS Area
- 2320
This home's HOA fee works out to $1,425 a month, in line with the $1,491 median across 8 homes for sale in Island Terrace Condo. See Island Terrace Condo HOA fees
Schools
- Elementary School
- North Beach
- Middle School
- Miami Beach Nautilus
- High School
- Miami Beach
About the Community
Island Terrace Condo is an age-restricted 55+ community in Miami Beach, Miami-Dade County, Florida, governed under the Housing for Older Persons Act (HOPA). Homes are priced from $459,000 to $1,300,000. At least one resident per home must be 55 or older. Pure Equity lists homes in Island Terrace and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.
- Homes for Sale
- 8
- Median List Price
- $469,500
- Median $/Sq Ft
- $494
- Avg Days on Market
- 102
Frequently Asked Questions
- How do I schedule a tour of 5 Island Avenue 2F, Miami Beach, FL 33139?
- Use the Tour button on this listing to request a showing of 5 Island Avenue 2F, Miami Beach, FL 33139. Pick a day and time and choose an in-person or video-chat tour, and a Pure Equity agent will confirm your visit, often the same day.
- Is 5 Island Avenue 2F, Miami Beach, FL 33139 still available?
- 5 Island Avenue 2F, Miami Beach, FL 33139 is currently listed as Active, and has been on the market 119 days. Status updates directly from the MLS as homes go under contract, so ask us to confirm availability before you plan a visit.
- How much is the monthly payment for 5 Island Avenue 2F, Miami Beach, FL 33139?
- With 20% down ($95,000) on the $475,000 list price and a 30-year fixed loan at an illustrative 6.875% rate, the estimated principal & interest for 5 Island Avenue 2F, Miami Beach, FL 33139 is about $2,496/mo, before property taxes, insurance, and HOA dues. Use the payment estimate on this page to adjust the down payment and rate.
- How do I get pre-approved to buy 5 Island Avenue 2F, Miami Beach, FL 33139?
- Getting pre-approved shows sellers you're a serious buyer and clarifies your true budget before you offer on 5 Island Avenue 2F, Miami Beach, FL 33139. Contact Pure Equity and we'll connect you with a trusted local lender to review your financing options, no obligation.
- Does 5 Island Avenue 2F, Miami Beach, FL 33139 have an HOA fee?
- Yes: 5 Island Avenue 2F, Miami Beach, FL 33139 carries an HOA fee of about $1,425 monthly. HOA dues usually cover community amenities and shared maintenance; ask us for the current budget, rules, and exactly what's included.
- What schools serve 5 Island Avenue 2F, Miami Beach, FL 33139?
- 5 Island Avenue 2F, Miami Beach, FL 33139 is zoned for North Beach (elementary), Miami Beach Nautilus (middle), Miami Beach (high). School assignments and boundaries can change year to year, so confirm current zoning with the local school district before you buy.
- Can I negotiate the price of 5 Island Avenue 2F, Miami Beach, FL 33139?
- Often, yes. The right offer on 5 Island Avenue 2F, Miami Beach, FL 33139 depends on how it's priced against comparable condo sales in Miami Beach, how long it's been listed, and how motivated the seller is. Pure Equity will run the comps and help you craft a competitive, well-supported offer.
Listing courtesy of Douglas Elliman
Listing information is provided by BeachesMLS, Inc.and is deemed reliable but not guaranteed accurate by the MLS or Pure Equity. Information is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. © 2026 BeachesMLS, Inc. Last updated June 23, 2026.
$475,000
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Listed by Barbara Estela, Douglas Elliman
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Recent Sales
Recently sold homes in Island Terrace Condo
These are the last 5 recorded closings in Island Terrace Condo, with the price each home actually sold for rather than what it was listed at. They closed at a median of $520 per square foot. The most recent closed on September 15, 2026. Closed sales are what an appraiser and a buyer's agent will look at, so they are the starting point for pricing a home here.
Sold$440,000
Sold · September 15, 2026
5 Island Avenue 15A
1 bed · 1.5 bath · 950 sqft · $463/sqft
$35,000 under the asking price
Sold$679,000
Sold · August 27, 2026
5 Island Avenue 12C
2 bed · 2 bath · 1,305 sqft · $520/sqft
$221,000 under the asking price
Sold$575,000
Sold · April 28, 2026
5 Island Avenue 15G
1 bed · 1.5 bath · 950 sqft · $605/sqft
$60,000 under the asking price
Sold$485,000
Sold · December 29, 2025
5 Island Avenue 4E
1 bed · 1.5 bath · 950 sqft · $511/sqft
$15,000 under the asking price
Sold$1,463,000
Sold · September 5, 2025
5 Island Avenue 15D
2 bed · 2 bath · 1,333 sqft · $1,098/sqft
$187,000 under the asking price
See every recorded sale in Island Terrace Condo or find out what your Island Terrace Condo home is worth.
