I am not referring to the condos facing the ocean. However, you can find a one-bedroom condo within a 5-minute walk from the beach for around $200k or less, and even a two-bedroom for about $250k. This is in prime areas like South Beach. It is cheaper than downtown Miami, which does not offer much. Any reason why this is the case?
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Hey Michael. South Beach is a highly desirable location due to its proximity to the beach, vibrant nightlife, and cultural attractions. However, it’s worth noting that condos not directly facing the ocean may be more affordable. Downtown Miami, on the other hand, has a mix of commercial and residential spaces, which affects demand and pricing.
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Miami Beach real estate prices can vary due to factors like market conditions, location within Miami Beach, property size, and amenities. Prices can be influenced by demand, supply, and economic factors.
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Low-cost condos typically indicate one or more of the subsequent:
They are not warrantable, meaning that they can need special funding for a variety of reasons.
Absurd HOA/association fees
It is a property with a lease.
high-risk hurricane, flood, etc.
Something usually indicates “something” is keeping it from selling for more when it is priced less than it appears to be worth.