HomeCondos for SaleIsland Terrace CondoUnit LF
5 Island Ave, Unit LF
+37 more
$464K

Island Terrace Condo Unit LF

5 Island Ave, Unit LF • Miami Beach, FL 33139

at Island Terrace Condo

Beds
1
Baths
2
Living Area
950 SF
Price / SF
$488
HOA / Monthly
$1,425
Days on Market
0

About This Unit

Well-designed and spacious 1BD/1.5BA LANAI residence right on the bay in Miami Beach's acclaimed Sunset Harbour neighborhood. Ideally located on Belle Isle, Island Terrace is a unique waterfront building designed by renowned mid-century architect Morris Lapidus. Offering a rare ground-level entry, this pied-a-terre combines convenience and privacy with direct access to the pool deck - no elevator needed. Filled with natural light, the apartment features generous living spaces, large volumes, and a functional layout. The primary suite includes an ensuite bathroom and a walk-in closet, complemented by a guest bathroom. Enjoy a unique indoor-outdoor lifestyle with your morning coffee just steps from the bayfront. The building offers a waterfront pool with infinity views of the bay and city skyline, kayak launch, bike storage, fully equipped fitness center, elegant common areas, 24-hour front desk service, and onsite management. Pet-friendly. A Venetian Island gem, with great walkability, just a few minutes from the beaches, directly across The Standard Hotel, the condo is just a few blocks from Trader Joe’s, Fresh Market, Publix, Whole Foods, Sunset Harbour shops and restaurants, and Lincoln Road! Includes 1 assigned parking space and hurricane-impact windows. An ideal second home or primary residence combining location, comfort, and lifestyle.

Pricing at Island Terrace Condo — $488/sqft
Island Terrace Condo Unit LF is listed at $488/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 — 0 days
Island Terrace Condo Unit LF has been on the market for 0 days.
Building-level pace data is thin for this bedroom count.
Estimated Monthly Cost
Mortgage (P&I)
$2,520
HOA
$1,425
Property Tax
$526
Total / mo
$4,470
Assumes 7.20% rate on 20% down (30-year fixed). Tax effective rate 1.36%. HOA $1.5/sqft · All-in $4.71/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: LF
Year Built: 1967
Stories: 16
City: Miami Beach
Postal Code: 33139
HOA Fee: $1,425 / Monthly
View: Other View
Waterfront: Yes
Private Pool: No
Heating: Central
Cooling: Central Air
Days on Market: 0
Listed: April 17, 2026
MLS #: A11994765

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: One Sotheby's International Realty
Information provided by Miami Association of Realtors / SEFMLS • Deemed reliable but not guaranteed • MLS #: A11994765 • Updated Apr 18, 2026 • Photos updated 11 days ago.