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398 NE 5th St # 2418, Miami FL 33132

House For Sale
$1,600,000

BTC: 19.57785255

ETH: 650.40650407

215 days
3 bds
3 ba
1,135 sqft

Overview

Attention Investors: Short-Term Rental Approved Residence at The Elser Exceptional opportunity to own a fully furnished 3-bedroom, 3-bath residence at The Elser Hotel & Residences in Downtown Miami, one of the city’s most sought-after short-term rental approved buildings. Ideal for buyers seeking a Miami investment property or luxury second home with income potential. This beautifully designed residence features an open-concept layout, floor-to-ceiling windows, and a private balcony with views of Biscayne Bay and the Miami skyline. Contemporary finishes include a modern kitchen with stainless steel appliances, custom cabinetry, and elegant bathrooms with frameless glass showers. Delivered fully furnished and turnkey, the residence is ready for immediate personal use or rental income. The spacious 3-bedroom layout is especially attractive for short-term rentals and group travel, maximizing occupancy and rental potential. Residents enjoy resort-style amenities including a rooftop pool, fitness center, spa, sauna, concierge services, and lounge areas. Located steps from Bayfront Park, the waterfront, dining, entertainment, and major attractions, this property benefits from strong year-round tourism demand. With daily rentals permitted according to condominium regulations, owners can maximize income. Miami will host seven FIFA World Cup matches in 2026, driving some of the highest short-term rental demand in the city.

Location

Florida • Miami • 33132 • House • For Sale

Details

Type:
Residential
Parking:
Other
Year Built:
2022
Lot:
No Data
Heating:
Central
Price/sqft:
$1,410
Cooling:
Central Air
HOA:
$1,307

Valuation

Our model vs. what's actually selling nearby.
Estimate
$490,000
$299K – $778K
Confidence Low
List vs. estimate
$1.1M above estimate
List $1,600,000 · +226.5%
Our model says this listing is priced above recent comparable activity. Room to negotiate.
Price per sq ft
$1,409
+198.5% vs. city median $472
Based on
25 MLS comparables
+ 30 public-records sales within 0.5 mi
Median actual sale: $12.6M
Median of recent comparable listings. Sold comps use closing price, active listings use list price.

Highlights

Annual tax
$22,186
2025
HOA
$1,307/mo
View
Ocean View, Other View
Pets
Not allowed
All facts and features
  • Flooring

    • Tile

    Heating

    • Central

    Cooling

    • Central Air

    Appliances

    • Dishwasher

    • Disposal

    • Dryer

    • Electric Water Heater

    • Microwave

    • Electric Range

    • Refrigerator

    • Washer

    Other interior features

    • Closet Cabinetry

    • Elevator

    • Skylight

    Bedrooms and bathrooms

    • Bedrooms: 3

    • Full bathrooms: 3

  • Parking

    • Other

    Property

    • Exterior Features: Other / Open Balcony

    Other Property Information

    • Parcel Number: 01-41-37-078-5890

  • Type and style

    • Property Type: Residential

    • Property Sub Type: Stock Cooperative

  • Other financial information

    • HOA: $1,307

    • HOA Frequency: Monthly

    • Annual tax amount: $22,186

  • Source details

    • MLS ID: A11972846

    Other facts

    • Construction Materials: Concrete Block Construction / Brick Veneer

    • Patio And Porch Features: Open Balcony

    • Window Features: Skylight

    • Living Area: 1135

    • Subdivision Name: MAP OF MIAMI DADE CO. FL.

Private inquiry
Talk to the advisor on this listing.
Floor plans, HOA docs, off-market comparables, scheduling a private showing — one message, direct to the local specialist.

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The multiple listing information is provided by the Miami Association of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026-present Miami Association of REALTORS®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: EXP Realty LLC