Home » Properties » 398 NE 5th St # 1706, Miami FL 33132

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Modern Studio at The Elser Hotel & Residences, Miami

Fully furnished 1-bed, 1-bath studio with Biscayne Bay views, rooftop pool, fitness center, and valet parking in Downtown Miami.

$579,000

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MLS #A11789023

Listing Updated: 2026-07-01 00:27:23

Listed By: Related General Realty, LLC.

Overview

Located in the heart of Downtown Miami, this 443 sqft studio at The Elser Hotel & Residences offers a sophisticated urban lifestyle. Built in 2022, the unit is fully furnished and designed with floor-to-ceiling windows that showcase stunning Biscayne Bay and Miami skyline views. The private balcony and in-unit washer and dryer add convenience, while the fully equipped kitchen supports comfortable living. Residents enjoy premium amenities such as a 132-foot rooftop pool with a spacious deck, spa hot tub, a two-story fitness center, and exclusive beach access on South Beach. The property includes covered valet parking and elevator access, enhancing daily comfort and ease.

Property Highlights

Fully furnished studio with bay and skyline views, private balcony, rooftop pool, spa hot tub, fitness center, valet parking, built in 2022.

Property Details

City: Miami

State: FL

Zip Code: 33132

Address: 398 NE 5th St # 1706, Miami FL 33132

Year Built: 2022

Property Type: Residential

Property Sub Type: Condominium

Listing Office Name: Related General Realty, LLC.

County: Miami-Dade County

Garage Spaces: 1

Parking Features: 1 Space, Covered, Valet

Interior Features: Elevator

Exterior Features:

Waterfront: No

Pool: No

HOA Fee: $494

Annual Tax: $10,914

Days On Market: 410 Days

Original Listing Description

Welcome to The Elser Hotel & Residences in Downtown Miami. This unit features a fully furnished and equipped turnkey studio with breathtaking views of Biscayne Bay and the Miami skyline. The unit is designed with floor-to-ceiling windows, private balconies, fully equipped kitchen and in-unit washer and dryer. Owners and guests can enjoy a range of luxury amenities including a 132-foot rooftop pool with spacious deck, spa hot tub, two-story fitness center and exclusive beach access on South Beach. The Elser offers flexible rental options, including short-term rentals, making it an attractive option for investors seeking a pied a terre in Miami and passive income rolled into one. Property yields a 6% cap, hassle-free. Unit video tour available upon request.

Property Location

Explore the surrounding area, nearby amenities, and neighborhood access for this property.

398 NE 5th St # 1706, Miami FL 33132

About This Neighborhood

Situated in Downtown Miami, this property benefits from proximity to major business districts, cultural venues, and waterfront parks. The neighborhood is known for its dynamic urban environment, blending residential, commercial, and recreational spaces. Residents enjoy easy access to public transportation, dining, shopping, and entertainment options. The area’s ongoing development continues to enhance its appeal for residents and visitors alike.

Walkability & Lifestyle

The location provides excellent walkability with nearby restaurants, cafes, shops, and waterfront parks. Residents can enjoy strolls along Biscayne Bay, explore local boutiques, or access public transit easily. The vibrant street life and proximity to cultural venues contribute to a convenient and engaging urban lifestyle.

Things To Do Nearby

Residents at The Elser enjoy access to South Beach, rooftop pool relaxation, fitness facilities, and nearby entertainment venues. The area offers boating, dining, nightlife, and cultural attractions. Outdoor activities and waterfront experiences are easily accessible, making it an attractive location for those seeking an active and diverse lifestyle.

Nearby Schools

Downtown Miami offers access to a variety of educational institutions, including public and private schools within reasonable commuting distance. Families and residents benefit from the city's educational infrastructure, providing options for different grade levels and academic programs. The neighborhood’s urban setting also supports access to libraries and community learning resources.

Why Buyers Like This Area

Buyers appreciate this property for its modern design, panoramic views, and comprehensive amenities. Its location in Downtown Miami offers convenience to work, leisure, and transportation. The flexibility in rental options and access to exclusive beach amenities add to its appeal for a variety of buyers, including those seeking a primary residence or a pied-à-terre.

Investment Potential

This studio condominium in Downtown Miami appeals to buyers seeking a turnkey property with flexible rental options. The Elser Hotel & Residences allows short-term rentals, making it suitable for those interested in seasonal tenants or occasional personal use. Its prime location near Biscayne Bay and South Beach enhances its rental appeal. The modern design and luxury amenities attract a variety of renters, from business travelers to vacationers, supporting consistent demand in this vibrant market.

Market Trends

Miami’s Downtown market remains active with steady buyer interest in modern condominiums offering amenities and views. Inventory in newer developments like The Elser attracts buyers looking for contemporary urban living. Demand is supported by Miami’s role as a business hub and popular destination, maintaining long-term interest in centrally located properties with lifestyle advantages.

Rental Income Potential

The Elser’s flexible rental policy supports short-term and seasonal leasing, appealing to a broad tenant base. Its location near South Beach and downtown attractions increases tenant interest. While rental income can vary seasonally, the property’s amenities and views contribute to its attractiveness for renters seeking comfort and convenience in Miami’s vibrant market.