Did you know that you can find condos in South Beach under $200K? Although they may not be as glamorous as the surrounding highrises, many of these condos offer comfortable living in a walkable neighborhood with multiple parks at your fingertips, like Lummus Park which lines Ocean Drive and the Historic Art Deco District.
From South Pointe Park to 23rd St., South Beach is a popular destination with a world-renown reputation for beautiful beaches with a plethora of nightlife and entertainment. Snowbirds and tourists flock here once November approaches to enjoy the incredible weather, and many people return on a yearly basis to soak up the sun while avoiding the cold winters.
However, many people are long-term residents that live here year-round. In order to keep the neighborhoods residential, the City of Miami Beach has become extremely strict and prohibits vacation/short-term rentals in most areas and requires a minimum lease term of 6 months and 1 day.
Finding a condo in this price category can offer great investment opportunities as South Beach continues to revitalize and develop. With such minimal land available for building new construction, property values will likely continue to increase on a yearly basis. From a micro-studio to a full-sized one bedroom, you will find a square footage range from 230 sq ft up to 780 sq ft for condos in South Beach under $200K. A significant amount of properties are considered Historic Art Deco Buildings dating back as early as 1925.
The Miami Beach lifestyle is filled with all types of culture and is accommodating to all walks of life. Whether you are looking for a long-term residence or short-term rental investment, I can assist on finding the best property for you. When you are ready for your next condo purchase, please contact me at anytime.