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5 Island Ave, Unit 8B
+16 more
$509K

Island Terrace Condo Unit 8B

5 Island Ave, Unit 8B • Miami Beach, FL 33139

at Island Terrace Condo

Beds
1
Baths
2
Living Area
950 SF
Price / SF
$536
HOA / Monthly
$1,446
Days on Market
57

About This Unit

Wonderful large 1bed/1.5bath at Island Terrace on Belle Isle – a great place to call home! Sunny and spacious with impact windows, stainless appliances, plenty of closets, extra storage unit and a nice size balcony for dining al fresco. Views to the north of the bay, plus downtown skyline views from the balcony.  Fantastic South Beach location with a wonderful park in front of the building, the Standard Hotel and Spa across the street and a few blocks to all the shops and restaurants at Sunset Harbour and Lincoln Rd. Classis Morris Lapidus bldg offering 24 hour front desk service, a beautiful bay front pool with a separate lounging area, gym, kayak launch, bike storage, onsite management, assigned parking. Excellent opportunity! Chandelier and sconces excluded.

Pricing at Island Terrace Condo — $536/sqft
Island Terrace Condo Unit 8B is listed at $536/sqft.
Building-level comparison data is thin for this bedroom count — see Recent Comparable Sales below.
Based on live MIAMIRE active & closed listings at Island Terrace Condo.
Time on Market — 57 days
Island Terrace Condo Unit 8B has been on the market for 57 days.
Building-level pace data is thin for this bedroom count.
Price History
Originally listed at $525,000. Reduced to $509,000 on Mar 10, 2026 (after 57 days on market) — -3.0% (−$16,000).
Estimated Monthly Cost
Mortgage (P&I)
$2,764
HOA
$1,446
Property Tax
$282
Total / mo
$4,492
Assumes 7.20% rate on 20% down (30-year fixed). Tax effective rate 0.66%. HOA $1.52/sqft · All-in $4.73/sqft / month. Excludes wind / flood / contents insurance — verify your actual rate with a lender.

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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 1967 (59 years old) — past Florida's 40-year recertification trigger; verify milestone status.
Verify all of the above with the HOA before closing.
Unit: 8B
Year Built: 1967
Stories: 16
City: Miami Beach
Postal Code: 33139
HOA Fee: $1,446 / Monthly
View: Bay, Intracoastal View
Waterfront: Yes
Private Pool: Yes
Heating: Electric
Cooling: Electric
Days on Market: 57
Listed: January 13, 2026
MLS #: A11943735

Location

Tour with Ricky

Schedule your private showing. Get pricing history, negotiation strategy, and the things the listing won't tell you.

Text or Call (305) 33-RICKY
That's (305) 337-4259
Email About This Unit
Ricky Garcia
Ricky Garcia
Ricky J. Garcia LLC
Licensed with Global Luxury Realty
Listing courtesy of: Brown Harris Stevens
Information provided by Miami Association of Realtors / SEFMLS • Deemed reliable but not guaranteed • MLS #: A11943735 • Updated Mar 11, 2026 • Photos uploaded 105 days ago.