+2 more
$250K
Island Place at North Bay Unit 4L
1455 Treasure DR, Unit 4L • North Bay Village, FL 33141
About This Unit
Well-maintained 1 bed/1 bath condo at Island Place on Treasure Island in North Bay Village. Known for its serene island setting, bay views, and stunning sunsets. Building currently undergoing major facade renovation on this side — a sign of long-term investment in the property. Updated unit in great condition. Amenities include bayfront pool, BBQ and lounge deck, fitness center, on-site management, laundry on every floor, secured entry, and assigned parking. Minutes to Miami Beach and major highways.
Pricing at Island Place at North Bay — $306/sqft
At $306/sqft, Island Place at North Bay Unit 4L is priced near the building's median — solidly mid-market for this floor plan.
Island Place at North Bay Unit 4L vs Active Listings at Island Place at North Bay: This condo is -0.0% higher (+$0/more per sqft) than the building's active 1BR median of $306/sqft, based on 5 active 1BRs.
Island Place at North Bay Unit 4L vs Recent Sold Listings at Island Place at North Bay: This unit is +7.0% higher (+$20/more per sqft) than recent 1BR sales (median $286/sqft, based on 4 sales over 9 months).
Rank: This unit's $/sqft is higher than 40% of currently-active 1BR units at Island Place at North Bay (sample of 5).
Insider Negotiation Strategy: 1BR units at Island Place at North Bay typically close at 97.7% of asking. At that ratio, this unit could plausibly trade around $244,350.
Based on live MIAMIRE active & closed listings at Island Place at North Bay.
Time on Market — 55 days
Island Place at North Bay Unit 4L is fresh to market — limited negotiating leverage at this stage.
This unit's 55 days on the market is 49 days shorter than the active 1BR median of 104 days (-47.1%).
Inventory position: 20th percentile for 1BRs currently active at this building.
Estimated Monthly Cost
Mortgage (P&I)
$1,358
HOA
$841
Property Tax
$334
Total / mo
$2,533
Assumes 7.20% rate on 20% down (30-year fixed).
Tax effective rate 1.60%.
HOA $1.03/sqft · All-in $3.1/sqft / month.
Excludes wind / flood / contents insurance — verify your actual rate with a lender.
Schedule your private showing at Island Place at North Bay.
Walk the unit with someone who knows this building inside out. Get pricing history, negotiation strategy, and the things the listing won't tell you.
That's (305) 337-4259 • Available 7 days a week
Recent Comparable Sales
Active 1BR Comps at Island Place at North Bay
UnitListSqft$/sqftDOM
#—
—
817
$285
104
#—
—
817
$315
350
#—
—
827
$248
164
#—
—
817
$395
28
#—
—
817
$306
55
Recent Closed 1BR Sales
ClosedUnitSold$/sqftvs List
2025-09-03
#—
$224,000
$274
—
2026-01-31
#—
$240,000
$290
—
2026-01-29
#—
$230,000
$282
—
2026-04-29
#—
$250,000
$302
—
Comps are limited to the same bedroom count. Sold prices reflect what closed buyers actually paid.
What to Verify
Flood Zone: This unit is in flood zone AE. High-risk flood zone (Special Flood Hazard Area). Federal flood insurance required for federally-backed mortgages.
Building Age: Built in 1966 (60 years old) — past Florida's 40-year recertification trigger; verify milestone status.
Ricky will verify all of the above with the HOA before closing.
💰 Current Owner's Cost Basis
The current owner bought this unit Oct 2003 for $157,900 — held 23 years. They’re now asking $250,000 — +58.3% (+$92,100) vs. cost basis.
Source: most recent qualified deed on file with the Miami-Dade Property Appraiser.
Sales History
| Date | Price | Type |
|---|---|---|
| Oct 2003 | $157,900 | arm’s-length |
Source: Miami-Dade Property Appraiser. County living area: 817 sqft.
Building: Island Place at North Bay
Unit: 4L
Year Built: 1966
Stories: 8
City: North Bay Village
Postal Code: 33141
HOA Fee: $841 / Monthly
View: Bay, Garden View, Water View
Waterfront: Yes
Private Pool: No
Heating: Other
Cooling: Central Air, Electric
Days on Market: 55
Listed: March 3, 2026
MLS #: A11975857
Location
Listing courtesy of: The Corcoran Group
Information provided by Miami Association of Realtors / SEFMLS • Deemed reliable but not guaranteed • MLS #: A11975857
• Updated Apr 27, 2026
