Downtown Miami Condos Allowing Airbnb: The Ultimate Guide
Miami, with its vibrant culture, stunning beaches, and bustling nightlife, has always been a hotspot for tourists. Recently, the trend of renting condos via Airbnb has skyrocketed, making it an attractive investment opportunity. This guide explores the best downtown Miami condos allowing Airbnb, providing a comprehensive overview for potential investors and travelers alike.
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Why Invest in Airbnb-Friendly Condos in Downtown Miami?
High Demand and ROI
Downtown Miami is a tourist magnet, attracting millions of visitors annually. This constant influx ensures a high demand for short-term rentals. Investing in an Airbnb-friendly condo can yield substantial returns on investment (ROI) due to the premium rates short-term rentals command compared to long-term leases.
- Average Daily Rate: $317.2
- Max Daily Rate (March, December): $372
- Occupancy Rate: 47%
- Max Occupancy Rate (March): 59%
- Total Available Listings: 1,331
- Average Annual Revenue: $49.8K
- Max Monthly Revenue (March, December): $5,400
- RevPAR (Revenue Per Available Room): $162.7
- Weekend RevPAR: $359
- Best Month: March
- Market Score: 72 (Good)
These figures highlight the financial viability and potential profitability of investing in Airbnb-friendly condos in Downtown Miami. With an average daily rate of $317.2 and a peak rate of $372 in March and December, the revenue potential is substantial. The occupancy rate averages 47%, with the highest occupancy reaching 59% in March, ensuring consistent rental income.
Prime Location
Downtown Miami offers proximity to key attractions such as Bayfront Park, Kaseya Center, and a plethora of dining and entertainment options. Being centrally located, these condos provide unparalleled convenience for tourists. The average home value in Downtown Miami is $571,380, having risen by 0.9% over the past year, further indicating a stable and appreciating market. This central location not only appeals to tourists but also enhances the property’s value and rental rates.
Flexible Usage
Owning an Airbnb-friendly condo offers flexibility. Owners can use the property for personal vacations while generating income when not in use. This dual utility maximizes the benefits of ownership, providing both a personal retreat and a revenue-generating asset. The ability to achieve an average annual revenue of $49.8K and up to $5,400 in peak months demonstrates the financial benefits of this flexible investment.
Factors to Consider When Buying an Airbnb-Friendly Condo in Downtown Miami
HOA Regulations
Before purchasing, it’s crucial to review the Homeowners Association (HOA) rules regarding short-term rentals. Some buildings may have restrictions or require additional fees for Airbnb operations. It’s essential to understand these rules fully to avoid unexpected limitations or costs that could impact your rental income. Ensure the HOA is supportive or at least permissive of short-term rentals to secure a smooth operation.
Local Laws and Permits
Ensure compliance with Miami’s short-term rental regulations. Obtaining the necessary permits and understanding zoning laws will prevent legal issues and fines. The city of Miami requires specific licenses for short-term rentals, and there may be zoning restrictions depending on the property’s location. Familiarize yourself with these requirements and stay updated on any changes to maintain legal compliance and avoid disruptions to your rental business.
Management and Maintenance
Consider the management aspect of your rental. Hiring a property management service like MaserHost can streamline operations, from guest communications to maintenance, ensuring a smooth and profitable experience. Property management services can handle everything from booking and guest check-ins to cleaning and emergency repairs, allowing you to maximize your revenue without the hassle of daily management. Evaluate the cost of these services against the potential increase in revenue and efficiency they offer.
Top Downtown Miami Condos Allowing Airbnb
| Condo Name | Rental Policy | Price Range |
| Natiivo | Daily, no restrictions | Not Specified |
| The Elser | No rental restrictions | $599,000 – $1,870,000 |
| YOTELPAD | Daily, no restrictions | $390,000 – $599,000 |
| 501 FIRST | No rental restrictions | Starting from $300,000 |
| 600 Miami Worldcenter | Daily, no restrictions | Not Specified |
Natiivo Downtown Miami: A Revolutionary Condo-Hotel
Natiivo is an innovative condo-hotel currently under pre-construction at 123 NE 6th St, Miami, FL 33132. Set to redefine urban living, this 48-story tower will house 600 units designed for modern city dwellers and savvy investors. Scheduled for completion in 2024, Natiivo promises a unique blend of residential comfort and hotel-style amenities.
Key Details of Natiivo
Prime Location and Accessibility
Natiivo boasts a prime location in Downtown Miami, right next to the Miami World Center and a Metromover station, ensuring excellent connectivity. Residents will find themselves just a few blocks away from major attractions like Bayfront Park, Bayside Marketplace and Marina, FTX Arena, Museum Park, and the newly revitalized Flagler Street with its charming cafés and shops. By car, Brickell City Centre is 10-15 minutes away, the Design District is 20 minutes, South Beach is 20 minutes, and Miami International Airport is about 25 minutes.
Exceptional Walkability and Transit Options
With a Walk Score® of 94, Natiivo is a Walker’s Paradise, offering residents the convenience of accessing daily necessities and entertainment options without needing a car. The Transit Score® of 100 indicates a Rider’s Paradise, making public transportation extremely accessible with numerous nearby transit options. Additionally, the Bike Score® of 76 means that Natiivo is very bikeable, providing ample opportunities for residents to enjoy cycling in the city.
Rental Policy and Investment Potential
Natiivo is Downtown Miami’s first condo-hotel specifically designed for short-term rentals and home-sharing. The rental policy allows daily rentals, making it an ideal choice for investors looking to maximize rental income. The pre-approval for short-term rentals ensures a hassle-free experience for property owners.
Natiivo Building Highlights
Modern Living with Green Technology
Natiivo integrates cutting-edge green building technology, ensuring sustainability and energy efficiency. The double-height lobby with floor-to-ceiling windows provides a grand entrance, enhancing the luxurious living experience.
Dining and Entertainment
The building features Dolce Mercato, an indoor dining restaurant with an outdoor garden, café area, and gourmet market curated by LDV Hospitality. Additionally, the street-front restaurant Bodega Taqueria offers South Florida’s iconic authentic Mexican street food.
Smart Building Capabilities
Natiivo is an advanced smart-building equipped with high-speed fiber-optic wireless internet access throughout common areas. The exclusive Natiivo app allows residents to manage various aspects of their living experience seamlessly.
Comprehensive Services and Security
Residents will benefit from on-site hospitality management, six high-speed passenger elevators with access control, a 24-hour welcome desk with MasterHost, 24-hour valet parking, and 24-hour secure access, ensuring convenience and peace of mind.
Recreation and Wellness
Natiivo offers a resort-style pool with cabanas, a sun deck, and poolside food and beverage service. The building also includes a juice bar, yoga/Pilates studio, boxing ring, Peloton equipment, weight station, Cross-training/Crossfit area, spa with treatment rooms, sauna and steam rooms, locker rooms, and an outdoor training terrace.
Social and Work Spaces
The social spaces include a specialty restaurant & bar, dining terrace, social area with a full-service café & cocktail bar, media lounge, live show & events lounge, The Porch, speakeasy, DJ & live performances, and programmed events. The workspaces are equipped with co-working areas, private offices, flexible office arrangements, video-capable conference rooms, quiet rooms, phone booths, cutting-edge technology & connectivity, an office host, coffee & juice bar, amphitheater, and meeting/presentation rooms.
Natiivo Downtown Miami offers a revolutionary living experience that combines the best of urban residential life with the amenities and services of a high-end hotel. Its strategic location, comprehensive range of facilities, and flexible rental policy make it an exceptional choice for both residents and investors. With its completion on the horizon, Natiivo is set to become a landmark in Miami’s urban core, promising a lifestyle of unparalleled convenience, luxury, and modernity. The exceptional transit options and bike-friendly environment further enhance the appeal, ensuring that residents can navigate the city with ease.
The Elser Hotel & Residences: Downtown Miami’s Premier Living Experience
The Elser Hotel & Residences, located at 398 NE 5th Street, Miami, FL 33132, offers a luxurious living experience in the heart of Downtown Miami. Built in 2022, this 49-story tower features 646 units designed for modern city living. With a range of options available for both sale and rent, The Elser combines residential comfort with top-tier amenities, all within a vibrant urban setting.
Key Details of The Elser Hotel & Residences
Availability and Pricing
- Available for Sale: 73 units
- Available for Rent: 23 units
- List Price: $599,000 – $1,870,000
- Square Footage: 341 – 1,307 sq ft
- Average Price per Sq Ft: $1,566
- Average Association Fee: $1.13 per sq ft per month
Prime Location and Accessibility
The Elser enjoys a prime location in Downtown Miami, adjacent to the new Waldorf Astoria Residences and across from the FTX Arena. Residents are within walking distance of Bayfront Park, Bayside Marketplace and Marina, the Perez Art Museum, Frost Museum of Science, and Whole Foods. The newly renovated Flagler Street offers excellent shopping options. Multiple Metromover stations nearby ensure seamless public transportation access. By car, Brickell is just 10 minutes away, Wynwood is 15 minutes, South Beach is 15 minutes, and Miami International Airport is 20 minutes.
Exceptional Walkability and Transit Options
With a Walk Score® of 96, The Elser is a Walker’s Paradise, providing residents with easy access to daily necessities and entertainment. The Transit Score® of 99 indicates a Rider’s Paradise, offering excellent public transportation options. Additionally, the Bike Score® of 77 signifies that the area is very bikeable.
Rental Policy and Investment Potential
The Elser Residences offer a unique short-term rental opportunity, with no rental restrictions. This flexibility makes it an attractive option for investors looking to capitalize on Miami’s bustling tourism market. The ability to rent out units on a short-term basis ensures maximum rental income potential while offering residents and guests top views and stellar amenities.
The Elser Building Highlights
Luxurious Amenities
The Elser provides a range of amenities designed to enhance the living experience:
- Pool/Spa: Pool, heated pool, sauna, spa/hot tub
- General Amenities: Bar, picnic area, business center, club room, elevator
- Parking: Garage, covered parking, valet
- Sport/Fitness: Exercise room
Unit Conveniences
Each unit at The Elser is equipped with modern conveniences to ensure comfort and ease of living:
- Central heat and cooling
- Dishwasher
- Washer and dryer
- Walk-in closets
Pet-Friendly Environment
The Elser welcomes pets, with policies allowing pets for both owners and renters, including large pets.
The Elser Hotel & Residences offers a premier living experience in Downtown Miami, combining luxurious amenities with a prime location. Its flexible rental policy and exceptional walkability make it an ideal choice for both residents and investors. With its proximity to key attractions and seamless transit options, The Elser stands out as a top-tier option for those seeking a cosmopolitan lifestyle in Miami’s urban core. The vibrant and dynamic environment of The Elser ensures that residents enjoy unparalleled convenience and luxury in one of Miami’s most sought-after locations.
YOTELPAD Miami: A Modern Condo-Hotel Experience
YOTELPAD, located at 227 NE 2nd St, Miami, FL 33132, represents a contemporary take on urban living, combining the luxury of a hotel with the comfort of a condo. This 30-story building, completed in 2022, features 208 units designed for the modern lifestyle, with flexible short-term rental options.
Key Details of YOTELPAD Miami
Availability and Pricing
- Available for Sale: 35 units
- Available for Rent: 15 units
- List Price: $390,000 – $599,000
- Square Footage: 393 – 647 sq ft
- Average Price per Sq Ft: $955
- Average Association Fee: $1.58 per sq ft per month
Prime Location and Accessibility
YOTELPAD is strategically situated in downtown Miami, offering easy access to Museum Park, the Downtown Arts District, Wynwood Arts District, and the Design District. This prime location makes it ideal for those who enjoy walking to nearby restaurants, nightspots, entertainment venues, and cultural facilities. The neighborhood is vibrant and caters to a dynamic urban lifestyle.
Exceptional Walkability and Transit Options
With a Walk Score® of 99, YOTELPAD is a Walker’s Paradise, providing residents with unparalleled convenience to daily amenities and entertainment. The Transit Score® of 100 indicates a Rider’s Paradise, ensuring excellent public transportation options. Additionally, the Bike Score® of 82 means the area is very bikeable, offering residents a variety of ways to navigate the city.
Rental Policy and Investment Potential
YOTELPAD’s rental policy allows daily rentals, making it an attractive option for investors looking to maximize rental income through short-term stays. This flexibility ensures high occupancy rates and a steady stream of rental income, appealing to both residents and visitors.
YOTELPAD Building Highlights
Architectural and Development Excellence
Designed by Stantec and developed by Aria Development Group, Aria Property Group, and Aqarat, YOTELPAD exemplifies modern architectural and development standards, ensuring quality and style in every unit.
Luxurious Amenities
YOTELPAD offers a range of amenities designed to enhance the living experience:
- Pool/Spa: Pool, spa/hot tub
- General Amenities: Bar, business center, club room, community room, elevator, extra storage, bike storage
- Parking: Valet
- Sport/Fitness: Billiard room, exercise room
Unit Conveniences
Each unit at YOTELPAD is equipped with modern conveniences to ensure comfort and ease of living:
- Central heat and cooling
- Dishwasher
- Washer and dryer
- Walk-in closets
Pet-Friendly Environment
YOTELPAD welcomes pets, allowing both owners and renters to have pets, making it a convenient choice for pet owners.
YOTELPAD Miami offers a cutting-edge living experience that combines the best of urban residential life with the amenities and services of a high-end hotel. Its strategic location, flexible rental policy, and comprehensive range of facilities make it an exceptional choice for both residents and investors. With its prime location near key cultural and entertainment districts, and excellent walkability, transit, and bikeability scores, YOTELPAD stands out as a premier living option in downtown Miami. The modern amenities and conveniences further enhance its appeal, ensuring that residents enjoy a lifestyle of luxury, comfort, and urban sophistication.
501 FIRST: Pre-Construction Luxury Residences in Downtown Miami
501 FIRST, located at 501 NE 1st Avenue, Miami, FL 33132, is set to redefine urban living in downtown Miami. Scheduled for completion in 2024, this 36-story tower will feature 448 units, offering a range of studio, one-bedroom, and two-bedroom residences. With prices starting from the $300,000s, 501 FIRST combines affordability with luxury in a prime location.
Key Details of 501 FIRST
Availability and Pricing
- Number of Units: 448
- Number of Stories: 36
- Year Built: 2024
- Prices: Starting from the $300,000s
- Residence Options: Studio, one-bedroom, and two-bedroom units
- Rental Policy: No rental restrictions
Prime Location and Accessibility
501 FIRST is strategically positioned in the well-connected urban core of Miami, offering easy access to art, culture, and entertainment. Residents will find themselves at the confluence of world-class shops, restaurants, bars, and nightclubs, with a plethora of public transportation options, including the inter-city Brightline rail system.
Exceptional Walkability and Transit Options
- Walk Score®: 96 (Walker’s Paradise)
- Transit Score®: 100 (Rider’s Paradise)
- Bike Score®: 79 (Very Bikeable)
These scores highlight the ease with which residents can navigate the area, whether on foot, by bike, or using public transportation.
Nearby Attractions and Conveniences
Living at 501 FIRST provides residents with unparalleled access to some of Miami’s most prominent attractions and amenities:
- Museum Park
- Perez Art Museum
- Frost Science Museum
- Bayfront Marketplace and Marina
- Upcoming 30-acre Resorts World Miami
Additionally, the location offers convenient proximity to other key areas:
- Brickell City Centre: 10 minutes by car
- Design District: Less than 15 minutes by car
- South Beach: Under 20 minutes by car
- Miami International Airport: Under 20 minutes by car
501 FIRST is poised to offer a luxurious yet affordable living experience in downtown Miami. With its prime location, flexible rental policy, and a range of modern amenities, it is an exceptional choice for both residents and investors. The building’s strategic position ensures residents have easy access to Miami’s vibrant cultural and entertainment scene, making it a standout option for those seeking a cosmopolitan lifestyle. With construction set to complete in 2024, 501 FIRST represents the future of urban living in Miami, blending convenience, luxury, and connectivity.
600 Miami Worldcenter: Premier Pre-Construction Condos in Downtown Miami
600 Miami Worldcenter, located at 600 NE 1st Avenue, Miami, FL 33132, is set to become a landmark in the heart of downtown Miami. Scheduled for completion in 2026, this 32-story tower will feature 579 units designed to offer a sophisticated, lifestyle-driven living experience. With a flexible short-term rental policy, 600 Miami Worldcenter is poised to attract both residents and investors seeking a vibrant urban lifestyle.
Key Details of 600 Miami Worldcenter
Availability and Pricing
- Number of Units: 579
- Number of Stories: 32
- Year Built: 2026
- Rental Policy: Daily short-term rentals with no restrictions
Prime Location and Accessibility
600 Miami Worldcenter is centrally located within the Miami Worldcenter neighborhood, placing residents at the heart of Miami’s dynamic urban core. This prime location offers easy access to the main Brightline station and is within walking distance of world-class dining, trendy bars, and renowned arts and entertainment venues. Nearby attractions include the Miami Heat Arena, the Biscayne Bay waterfront, and the Adrienne Arsht Center for the Performing Arts. Multiple transit options ensure that living car-free is a convenient reality for residents.
Walkability and Transit Scores
- Walk Score®: 85 (Very Walkable)
- Transit Score®: 100 (Rider’s Paradise)
- Bike Score®: 75 (Very Bikeable)
These scores reflect the exceptional accessibility of 600 Miami Worldcenter, highlighting the ease with which residents can navigate the city on foot, by bike, or using public transportation.
Residence Features
Residences at 600 Miami Worldcenter are designed with a blend of modern luxury and functional elegance. Key features include:
- Floor-to-Ceiling Glass Windows: Each unit boasts floor-to-ceiling glass windows with custom window treatments, providing stunning views of Biscayne Bay and Downtown Miami.
- Balconies: Private balconies offer residents breathtaking vistas and outdoor living spaces.
- Finished Flooring: High-quality finished flooring throughout the units ensures a polished and cohesive look.
- Custom Italian Cabinetry and Countertops: Kitchens feature custom Italian cabinetry and countertops, adding a touch of sophistication and style.
- Innovative Appliances: State-of-the-art appliances, including a speed oven, integrated paneled refrigerator/freezer, and dishwasher, are standard in every unit.
- In-Unit Washers and Dryers: Each residence comes equipped with top-of-the-line washers and dryers for ultimate convenience.
- Generous Closets: Fully built-out closets provide ample storage space, enhancing the functionality of each unit.
Building Amenities
600 Miami Worldcenter offers a comprehensive range of amenities designed to enhance the living experience for residents. The building features a covered porte-cochere, a 24-hour attended lobby, and a secure mailroom. Residents will also benefit from bike storage, a digital package delivery system, and climate-controlled storage. The on-site bistro and bar, managed by GPG Hospitality, provides a convenient dining option, while the artfully designed residential lounge offers a space for relaxation and socialization.
The state-of-the-art fitness center, managed by Homage Fitness, includes an outdoor private training area, ensuring residents have access to top-tier fitness facilities. Dedicated co-working spaces cater to the needs of remote workers, and the resort-style rooftop pool with summer kitchens and entertainment spaces provides a luxurious setting for leisure and recreation.
600 Miami Worldcenter is set to redefine urban living in downtown Miami. Its prime location, sophisticated design, and flexible rental policy make it an attractive option for both residents and investors. With a wealth of nearby attractions, excellent transit options, and a comprehensive range of amenities, 600 Miami Worldcenter promises a lifestyle of luxury, convenience, and connectivity. Scheduled for completion in 2026, this development is poised to become a premier address in Miami’s urban core.
