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Old 03-13-2012, 08:58 AM
 
73 posts, read 71,816 times
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Hello:
I have seen a website that sells mainly condos in all FLorida. I am interested in buying a small condo so we can probably rent it out when we are not using it and use it ourselves at least twice a year just to go to the beach. So I have seen many nice condos advertised either just across the beach or just two blocks away from the beach for very cheap prices like $50,000, $70,000 with very low monthly HOA. It looks like everything is so perfect. For example, all across Collins Ave there are many condos, on Pensylvania Ave. Many of them were hotels being converted to condos now for selling purpuses.
My question is why are these properties so cheap even though they are so closed to the beach? The only thing that occurs to me is that the area has to be really bad, crime infested, drugs etc.
Can anyone help??
I have seen cheap condos on Indian Creek Dr different prices, 3710 Collins ave (Ocean Villas) and like that. It's a real mistery why these condos are so cheap. I know for fact Miami is very expensive and so I hear everybody saying that as well but at the same time I see these properties. Why are not people buying them? where are the investors? I though Miami beach was out of my reach prices wise and now I have these many choices of buying a nice condo close to the beach. The question is am I going to get killed if I buy in those areas???
Please help me!!!!
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Old 03-13-2012, 10:29 AM
 
Location: Miami/ Washington DC
4,719 posts, read 5,407,894 times
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There are no high crime areas in Miami Beach.

The condos I think you are talking about are low rise 2-3 story studio/condo types places that have been there for a long time. They are small, not very good looking, no amedities, no parking. Have you noticed the Square Footage of these condos?

Miami Beach is very small in land area as I am sure you have noticed. So 2 blocks from the beach in Miami Beach terms is not that close to the beach. Unless its a nice home in Miami Beach its either on the water or not. That is why there are very few new and nice buildings which are not directly on the water.

Indian Creek Drive does have some condos on the Bay, it is not the "Miami Beach" people think of, it is not close to the clubs or nice places to eat etc.. But not a bad location.

3710 Collins ave is a decent location, not exactly a short walk to bar/night life/ Dinner center but its right there by the beach. But I see the building its one of the older buildings out there, small and has nothing going for it. But if the inside of the condo is nice thats all that really matters. But that is why these are cheap, they are small and don't come with anything else. Some of them are pretty old and run down.
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Old 03-13-2012, 11:16 AM
 
Location: Miami Beach, FL
2,122 posts, read 1,834,478 times
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Another place with cheap condos (actual apartments, not hotel rooms) and even some houses is Crespi Blvd. in North Beach. Pretty old and run down with many people on Section 8, but not particularly dangerous, and a 10 minute walk to the beach, 15-20 minutes to the dining/entertainment/shopping in North Beach. I would watch out for frequent assessments since these places are quite old and most look like they have deferred maintenance issues.
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Old 03-13-2012, 08:14 PM
 
Location: Dallas
4,160 posts, read 4,658,236 times
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Nothing on the beach island is crime infested. Fly is right. Very small condos there harkening back to a simpler time. I lived in several of them. Very possible they will have roaches though. Check that out. Likely to be quite old buildings with age issues.

On the upside, Miami has always had bargain basement real estate prices cuz the values dive and skyrocket wildly. It's a good time to but. Condos are way down.

There is also one other factor. when they build 100 brand new ultratall ultramodern buildings across the city, people move from their little old condos into the new ones. High vacancy pushes prices down. That is definitely a factor affecting the Miami Condo market now.
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Old 03-13-2012, 09:14 PM
 
Location: Miami/ Washington DC
4,719 posts, read 5,407,894 times
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Quote:
Originally Posted by xS☺Be View Post
Nothing on the beach island is crime infested. Fly is right. Very small condos there harkening back to a simpler time. I lived in several of them. Very possible they will have roaches though. Check that out. Likely to be quite old buildings with age issues.

On the upside, Miami has always had bargain basement real estate prices cuz the values dive and skyrocket wildly. It's a good time to but. Condos are way down.

There is also one other factor. when they build 100 brand new ultratall ultramodern buildings across the city, people move from their little old condos into the new ones. High vacancy pushes prices down. That is definitely a factor affecting the Miami Condo market now.
I agree that prices are down right now and this is a good time to buy. But vacancy rates are not high anymore in the area. Rent prices are starting to go up fairly quickly. I think it is a sign that prices will go up a bit soon too. But of course when that happens new deveoplments will come in and prices may go back down again and then back up. As you said prices here go up and down for condos.
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Old 04-24-2012, 11:32 AM
 
73 posts, read 71,816 times
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Default 16410 MIAMI DR, North Miami Beach, FL 33162

Hello:
Back to the same question. If anyone can tell me why are so many condos so cheap in the NE part of North Miami Beach? It's still a mistery to me .
Like the one listed above--Three Seasons-- Can someone tell me about the area? bad, good,so-so. I am seriosly planning to buy something around there is only two miles from the beach and the price seems to be right.
Your opinions please....... and Thanks
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Old 04-24-2012, 12:16 PM
 
Location: Chicago, IL
328 posts, read 930,735 times
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Quote:
Originally Posted by ami1331 View Post
Hello:
Back to the same question. If anyone can tell me why are so many condos so cheap in the NE part of North Miami Beach? It's still a mistery to me .
Like the one listed above--Three Seasons-- Can someone tell me about the area? bad, good,so-so. I am seriosly planning to buy something around there is only two miles from the beach and the price seems to be right.
Your opinions please....... and Thanks
"North Miami Beach" is a separate city from "Miami Beach". If you google map the address you will provided, you will see that it's about 13 miles away from Miami Beach. That's why it 's so much cheaper. It is close to the beach, yes, but it's not close to Miami Beach, and again, it's a completely separate city.
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Old 04-24-2012, 01:23 PM
 
Location: Miami/ Washington DC
4,719 posts, read 5,407,894 times
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Quote:
Originally Posted by ami1331 View Post
Hello:
Back to the same question. If anyone can tell me why are so many condos so cheap in the NE part of North Miami Beach? It's still a mistery to me .
Like the one listed above--Three Seasons-- Can someone tell me about the area? bad, good,so-so. I am seriosly planning to buy something around there is only two miles from the beach and the price seems to be right.
Your opinions please....... and Thanks
The city of "North Miami Beach" is NOT Miami Beach. Different city.
Do you mean the Nortern part of Miami Beach?

16410 MIAMI DR, North Miami Beach, FL 33162 is no the best area around. It is not very close to the beach, at least not walking distance. No one is going to want to rent that place out for a vacation. Did you even look up the address on google?? For someone going to vacation in Miami/Miami Beach 2 miles is not close to the beach. Most people want to be on the beach or a few blocks.
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Old 04-24-2012, 03:02 PM
 
Location: north beach
309 posts, read 312,432 times
Reputation: 201
ami1331 this is a very common confusion with the neighborhood and city names that all sound similar.

to really understand what you're looking at with these addresses, you need to know that there are three totally different neighborhoods with very similar sounding names.

1)- "north beach" is the northern part of the City of Miami Beach -- on the beach, a few miles due north of the famous "South Beach". (and just to add to the confusion, - Miami Beach is also described in three sections - 'south beach', 'mid-beach', 'north beach'.)
Miami Beach zip codes are 33139-33140-33141.

2) - "North Miami" -- not on the beach, but on the mainland; a neighborhood due north of downtown Miami. Generally considered to be not a great area; not exactly 'ghetto", but it is kinda "the hood" -- so lower prices here. Zip codes are 3316's and 7's.

- and then -

3)- the city of "North Miami Beach" is a separately incorporated city - also on the mainland, and even further due north than "North Miami", and a better neighborhood. (still urban, but more businesses, and less crime') This is where your "16410 MIAMI DR" condo is located. Zip codes are 3316's 7's, and 8's.

--------------

#2 & #3, less-desirable neighborhoods, also not tourist areas - therefore low prices.

and cheap condo's in #1 (on the beach) are the ones people have mentioned in this thread that are possibly older low-rise buildings, possibly un-renovated (older fixtures & fittings), or small square footage; with little or no amenities like pools or parking. but at the same time, possibly still could be nice as a vacation home - just depends on your preferences.

the best thing to do while you're looking online, is to map each address as you go - that will show you clearly which area you're looking at.
You can also see actual pictures of each building and street, if you use Google Maps/Google Earth; that can show you a lot about the building's style age, and condition.

Last edited by catt6; 04-24-2012 at 03:36 PM..
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Old 04-25-2012, 07:27 AM
 
73 posts, read 71,816 times
Reputation: 39
Thank you so much for such a nice explanation!!!!!!!!!!!
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