121 NE 5th Street 3400, Miami, FL 33132

$495,000

Virtual Tour

https://www.propertypanorama.com/instaview/mia/A11978516

Property Type: Residential Baths: 1 Square Footage: 456 Status: Active

Current Price: $495,000 List Date: 3/07/2026 Last Modified: 8/14/2026

Overview

Description

Unit already generating income in a short rental program with management company. Stunning high-floor residence on the 34th floor at 501 First Residences, offering breathtaking direct east-facing water views of Biscayne Bay. This beautifully designed unit comes fully furnished and completely turn-key, ideal for both personal use and investment. Approved for short-term rentals and currently professionally managed by a short-term rental company, the property offers excellent income potential from day one. Floor-to-ceiling windows fill the space with natural light and showcase spectacular bay views, while modern finishes and a private balcony enhance the living experience. Residents enjoy resort-style amenities and a prime location in the heart of Miami, just moments from dining, entertainment, and waterfront attractions.

Listing Details MLS# A11978516

General Property Information

Unit Floor #: 34
Property Sub Type: Condominium
Bathrooms Total: Yes
Bathrooms Full: Yes
Living Area Main: 456
Year Built: 2026
Garage YN: Yes
Attached Garage YN: Yes
Garage Spaces: Yes
Covered Spaces: Yes
Senior Community YN: No
Outdoor Living Spaces YN: Yes
Stories Total: 40
Furnished: Furnished

Property Features

Application Information: Unknown Association Amenities: Maintenance Association Fee Includes: Cable TV; Internet; Sewer; Trash; Water Flooring: Ceramic Tile Leasing Permitted Details: Okay To Lease; Short Term Rentals Allowed Parking Features: Guest; Valet; Attached; Attached Garage; Garage Property Condition: New Construction Appliances: Dishwasher; Disposal; Dryer; Electric Range; Ice Maker; Microwave; Refrigerator; Washer Construction Materials: Block; CBS Cooling: Central Air Association Type: Condominium Heating: Central Interior Features: Elevator Listing Terms: Cash; Conventional Pets Allowed YN: Yes Pets Allowed: Pet Restrictions Possible Possession: Close Of Escrow Restrictions: See Remarks Security Features: Elevator Secure; Lobby - Attended; Security System; Smoke Detector(s) Special Information: Sold As-Is Tax Information: New Construction Unit Description: Studio; High Rise Utilities: Cable Available View: Water Water View: Bay; Ocean Window Features: Blinds Showing Requirements: 24 Hour Notice; Appointment Only; Call Listing Agent Outdoor Living Spaces: Balcony Balcony Details: Balcony - Open

Contract Information

Comp Sale YN: No
Original List Price: 525000
Occupant Type: Vacant

Location and Legal

Country: United States
County Or Parish: Miami-Dade
County Parish Name: Miami-Dade
Street Number: 121
Street Direction Prefix: NE
Street Name: 5th
Street Suffix: Street
Unit Number: 3400
City Name: Miami
Municipal Code: 41
State Or Province: FL
Postal Code: 33132
Postal Zip: 33132
Subdivision Name: 501 First
Area: 2410
Elementary School: Frederick Douglass
Middle Or Junior School: Jose De Diego
High School: Booker T. Washington
Special Assessment YN: No
Parcel Number: 0141010080220
Directions: From I-95 S, take Exit 3B (NW 8th St) to Downtown, go east, turn right on NW 3rd Ct, then left on NE 5th St. Building located at 121 NE 5th St.

Financial Information

Association YN: Yes
Association Fee: 674
Association Fee Frequency: Monthly
Application Required YN: Yes
Estimated Monthly Assoc Recurring Fee: 674
Membership Fee Required YN: No
Tax Year: 2026
Tax Legal Description: 501 First Residences condominium book 35067 page 4463

Status Change Information

Major Change Timestamp: 2026-05-28T20:03:41Z
Major Change Type: Price Reduced
Price Change Timestamp: 2026-05-28T20:03:41Z
Status Change Date: 2026-03-07

More Information

Application Fee Details

Application Fee Required: Yes
Application Fee: 150

Leasing Permitted Details

Leasing Permitted YN: Yes
Okay To Lease: Yes
Short Term Rentals Allowed: Yes

Parking Information

Open Parking Spaces: Yes

Leasing Restrictions

Leasing - Max Times Per Year: 365
Leasing - Minimum Number of Days: Yes

Storm Protection

Impact Glass: Partial

Price Calculations

Current Price To SqFt: 1085.52

Section Details

Parcel Number MLX: 1150

Originating Details

Originating System Key: 438637340
Originating System ID: M00000151

Office/Member Information

DXORIGMLSID: SEF

Application Information

Unknown: Yes

Amenities

Bike Storage: Yes
Business Center: Yes
Clubhouse: Yes
Community Room: Yes
Elevator(s): Yes
Fitness Center: Yes
Parking: Yes
Picnic Area: Yes
Pool: Yes
Trash Chute: Yes

Association Amenities

Maintenance: Yes

Association Fee Includes

Cable TV: Yes
Internet: Yes
Sewer: Yes
Trash: Yes
Water: Yes

Flooring

Ceramic Tile: Yes

Parking Features

Guest: Yes
Valet: Yes
Attached: Yes
Attached Garage: Yes
Garage: Yes

Property Condition

New Construction: Yes

Possession

Close Of Escrow: Yes

Special Information

Sold As-Is: Yes

Utilities

Cable Available: Yes

View

Water: Yes

Heating

Central: Yes

Unit Description

Studio: Yes
High Rise: Yes

Water View

Bay: Yes
Ocean: Yes

Window Features

Blinds: Yes

Appliances

Dishwasher: Yes
Disposal: Yes
Dryer: Yes
Electric Range: Yes
Ice Maker: Yes
Microwave: Yes
Refrigerator: Yes
Washer: Yes

Construction Materials

Block: Yes
CBS: Yes

Interior Features

Elevator: Yes

Listing Terms

Cash: Yes
Conventional: Yes

Security Features

Elevator Secure: Yes
Lobby - Attended: Yes
Security System: Yes
Smoke Detector(s): Yes

Cooling

Central Air: Yes

Association Type

Condominium: Yes

Showing Requirements

24 Hour Notice: Yes
Appointment Only: Yes
Call Listing Agent: Yes

Master Bedroom/Bath

Bedroom On Entry Level: Yes
Separate Shower: Yes

Pets Allowed YN

Yes: Yes

Pets Allowed

Pet Restrictions Possible: Yes

Restrictions

See Remarks: Yes

Tax Information

New Construction: Yes

Outdoor Living Spaces

Balcony: Yes

Balcony Details

Balcony - Open: Yes

Listing Office: The Keyes Company

Last Updated: August - 14 - 2026

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121 NE 5th Street 3400, Miami, FL 33132 (MLS# A11978516)