Affordable Coconut Grove Condominiums

Coconut Grove has always been known for its exclusive gated communities that are home to enormous waterfront estates.  But, there are also a lot of affordable Coconut Grove condominiums that are perfect for first-time buyers and investors as well as those who want to downsize or have a second home in sunny Florida.  Here are a few of Coconut Grove’s nicest and most affordable condominiums that are located in the heart of the Grove’s business district – in the middle of everything.

Grove Paradise, 3200-3218 West Trade Avenue, Coconut Grove.  For buyers who are all about location, this is a hot pick.  Grove Paradise is an enclave of two-story condominium units in a private, gated community located just blocks from Highway 1 that travels into Downtown Miami and Coral Gables as well as a short drive to the University of Miami and the Coconut Grove rail station. Perfect investments for first-time buyers, Grove Paradise properties feature two bedrooms and two baths along with nice-sized kitchens and bedrooms and lovely back patio areas fenced-in for privacy.  Built in 1981, most units can use a little TLC and modern updating.  Investors can look to Grove Paradise as long-term leases are allowed.  Although there are no units currently listed for rent, monthly rental rates in the area fall between about $1,800 and $3,000.  With list prices ranging from the mid-$200s to about $300K, Grove Paradise is a smart and affordable buy.

For Sale at Grove Paradise

South 27 Lofts, 3001 South 27^th Avenue, Coconut Grove.  Talk about a boutique condominium!  This is an exclusive address in Coconut Grove that appeals to those who want convenience and a very chic atmosphere.  South 27 Lofts features only 30 units in the entire four-story building along with a fitness center, a roof-top terrace, swimming pool and nice lobby.  Ideally located in the heart of the Grove, South 27 Lofts is just a short walk or drive from Dinner Key Marina, CocoWalk, Monty’s, and, most importantly, the Fresh Market.  Each loft-style residence offers a modern kitchen with stainless steel appliances, granite counter tops and custom cabinetry.  Each residence also has large bedrooms and a nice balcony or terrace with lovely city views.  South 27 Lofts list prices typically range from about $300K to the low to mid-$400s for one and two-bedroom residences.  Investors interested in South 27 Lofts can expect to lease units up to twice a year with monthly rental rates falling between about $2,000 to $3,000. 

South 27 Lofts Real Estate Listings

Lofts at Mayfair, 3339 Virginia Street Coconut Grove.  Built in 2007, the Lofts at Mayfair condominium is a low-rise, five-story condominium with a total of (99) one and two-bedroom units.  The condominium is ideally located in the heart of Coconut Grove close to everything from the Dinner Key, oceanfront parks and Fresh Market.  With square feet ranging from almost 700 to about 1,100 square feet, units at the Loft at Mayfair have a classic loft-style feel to them with exposed concrete floors, high ceilings, terraces and second floor lofts as well as modern kitchens with stainless steel appliances, granite counter tops, and contemporary custom cabinets.  Community amenities include a large pool, fitness center and spa.  The Lofts at Mayfair feature list prices that range from the upper-$200s to mid-$400s.  This is a great option for first-time buyers and those who want a vacation home in sunny Florida. 

For Sale at the Lofts at Mayfair

Grove Square Condo, 2801 Florida Avenue, Coconut Grove.  Just like the other area condominiums, Grove Square is a low-rise building with only four stories and (92) one and two-bedroom units of which 12 are two-story townhouse residences.  Centrally located in the heart of the Grove, Grove Square is just blocks from CocoWalk and the other popular stops that make this condominium such a sought-after address.  Some of the highlights of living here include a pool, fitness center and beautiful lobby.  Each residence offers owners updated kitchens, open and airy loft-style interiors and modern fixtures and finishes.  List prices broadly fall within the low to upper-$200s with annual leases allowed.  Properties at Grove Square appeal to a broad range of buyers making it a very sought-after condominium where listings sell and rent very quickly. 

Grove Square Condo Listings

Affordable Options

It is very nice to realize that Coconut Grove has affordable options for a broader range of real estate buyers who have a desire to live or own investments in the Grove.  From condominiums that start in the low-$200s to single-family homes starting in the low-$300s all centrally located in the heart of the Grove, more buyers can give Coconut Grove real estate more consideration.  

Park Grove – Coconut Grove

Brickell, Edgewater and other suburban cities around Miami are not the only areas in Miami-Dade County where developers are setting their sights.  In Coconut Grove, top developers, Terra Group and Related Group have joined forces to develop another great condominium community – Park Grove.  Being pegged as the perfect alternative to the sold out Grove at Grand Bay (just happens to be next door), Park Grove is an ultra-luxurious three-tower condominium situated right on the Bay with glorious water and city views from all vantage points.  Park Grove will bring 298 new residences to the oldest community in South Florida offering potential buyers the ideal spot to land whether downsizing is the plan or finding the perfect spot to spend part of the year. 

Tentatively slated to start construction in early next year, the three towers will be built in phases.  In addition to the residential towers, also slated is a bank and multi-level clubhouse with public amenities.  Park Grove is taking Coconut Grove real estate to the next level making it destined to be a sought after condominium in the Grove.

Parties Involved in Making It Happen

Coconut Grove’s own Terra Group has partnered with Miami’s hot-shot developer, The Related Group, to develop Park Grove.  Together, they have tapped one of the most revered architectural firms, OMA headed by partners Rem Koolhaus and Shohei Shigematsu to create and bring to life Park Grove.  From there, they have world-renowned interior designer, William Sofield, and international landscape architect Enzo Enea to give the new condominium its style and grace.   

Location of Park Grove

Situated on 5.2 acres of Bayfront property, Park Grove’s address is 2701 Bayshore Drive across from Dinner Key Marina in the heart of Coconut Grove.  It is also within walking distance to high-end shopping and dining for which Coconut Grove is known.   

Coconut Grove is the oldest town in Miami Dade County and is filled with so much history as well as sites to see including Vizcaya Museum and Gardens, Barnacle State Park, and some of the best shopping in the area.

Park Grove Highlights

Included in the Park Grove project are “50,000 amenities” according to the developers’ literature.  To highlight the community amenities, LEED-certified Park Grove offers residents expansive Bay and city views, 24-hour concierge and valet service, butler service, business center with meeting rooms, rooftop pools with private cabanas, dedicated penthouse pools, wine cellars and lockers for residents, areas dedicated for yoga, state of the art fitness centers, integrated media systems library, exquisitely designed common areas and building lobbies, adult gaming room with billiards and ping pong, and so much more.  Probably one of the most notable amenities may be the extensive art collection planned for the common areas which is not surprising considering Jorge Perez is one of the primary developers.

Property owners will enjoy open and airy residences with walls of windows, gourmet kitchens with high-end appliances, fixtures and finishes, large bedrooms and wide balconies with spectacular views.  The features are endless and make it obvious why this will become such an exclusive address. 

Real Estate at Park Grove

Reservations are being taken for the buildings with construction expected to start sometime during the first couple of months in 2015.  All three towers will have 20 floors with two towers housing only 72 units in each one and another Club Residence comprised of 140 units. 

In Tower 2 (the first of the premium tower to be built), there are only four floor plans from which to choose with sizes ranging from just over 2,200 square feet for a two-bedroom property to almost 3,600 square feet for a four-bedroom, five and a half bath residence.  List prices start around $2.5 million and climb to almost $5 million.

For the Club Residence (Tower 3), sizes are smaller and more affordable with 750-square foot, one-bedroom, one-bath units starting in the mid-$500s; two-bedroom units priced from the mid-$700s to over $1.2 million; and finally, three-bedroom units priced from the mid-$900s to about $1.5 million.

It is worth noting that about 30 percent of Tower 2 is reserved with about 20 percent of the Club Residences reserved.  For reservations, 10% is due followed by another 10% at contract.  From there, another 10% is required at ground breaking and 10% at residence floor.  Finally, 50% is due at closing.

Unbelievable Luxury

Park Grove is going to be an unbelievable property and very popular especially considering the Grove at Grand Bay is sold out.  Let us set up a private tour at the sales center.  We promise that Park Grove will amaze you.  It is Coconut Grove real estate at its finest. 

Top Five Coconut Grove Listings Under $1 Million

There is probably not an area in all of Florida that quite compares to Coconut Grove.  It is the essence of Classic Florida life with a slightly modern edge to it.  This quaint little neighborhood has a lot of history including the claim to fame of being the oldest continuously inhabited neighborhood in Miami.  Known by locals as “the Grove,” Coconut Grove has a lot to offer those who have a desire to live here.  Situated south of Brickell and east of Coral Gables, this is a spectacular place to raise a family. 

In addition to featuring neighborhoods, condominiums and more around Coral Gables, we like to list the top five listings.  Here is the most recent list of the top five Coconut Grove real estate listings under $1 million:

4120 Hardie Avenue, List Price:  $1,000,000

When you think about a Mediterranean-style home, this is the epitome of what comes to mind.  Built in 1945 and remodeled in 1994, it combines the charm of old Florida with the modern conveniences to create a delightful home in Coconut Grove.  Situated on a quiet tree-lined street, this gorgeous home has three bedrooms and two baths, and so much character.  In addition to the large kitchen with custom cabinetry, there is a large master suite with marble bath, elegant formal living room with large trey ceilings and a wonderful family room with beautiful murals painted on the walls.  The feel of the home gives the feeling of living in a Mediterranean villa.  Outside, the fenced back yard encloses a wonderful private pool.  List prices for homes in the same neighborhood range from the upper $800s to over $2 million with the average price per square foot at about $458.  This home is priced just under the average price per square foot.  In the last three months, six homes within a few blocks have sold with the average price per square foot sitting at about $386. 

3350 SW 27^th Avenue, #1204, Ritz Executive Residences, List Price:  $925,000

Located in the tony Ritz Executive Residences, this property is the only one that was on our list months ago.  It is an amazing property that offers the most spectacular views of Biscayne Bay, the Grove and the Gables.  The views alone are unreal but when you add its prime location within walking distance to the Fresh Market and restaurants as well as a short drive to CocoWalk and Dinner Key Marina.  Now, step inside, and see this gorgeous contemporary and large residence in one of the most well-known condominiums in all of South Florida.  From the large contemporary kitchen with granite counter tops, sleek custom cabinets and high end stainless steel appliances to the wide open space of the main living areas and two large bedrooms, there is nothing left out.  On top of all of this, you have all of the amenities of the Ritz Carlton Hotel at your fingertips including room services, a 24-hour fitness center, 24-hour concierge and so much more.   Other listings in this condominium are priced from the mid-$400s to almost $1.9 million with the average price per square foot is about $451.  The average sold price for the units that have sold thus far this year is almost $800K with the average sold price per square foot at about $473. 

3714 Matheson Avenue, Sunshine Villas, List Price:  $925,000

If you love older homes that bring history with them, then this is the right home for you.  Built in 1914 (yes, 1914), this home was built as part of the original William J Matheson estate.  There are two structures on the property – the main house and a second structure that houses a garage and storage on the first floor along with a large loft on the second.  Inside the cedar shake/wood frame home, there are two bedrooms and one bath with so many unique finishes and characteristics from the original home plus modern updates that make it conducive to today’s lifestyle.  The kitchen has a large cooking island and stainless steel appliances while other rooms have vaulted ceilings and dark hardwood floors.  Outside, there is lush tropical landscaping that shades the home and gives it privacy.  This home is so different from most Coconut Gove homes but is still a really cool home.  As for other listed homes, this home is one of only two listed properties priced under $1 million within a few blocks. 

3730 Kumquat Avenue, Douglas Circle, List Price:  $899,000

While some may think the exterior is quite understated, the inside is a different story.  This is a perfect home with a lot of room, high ceilings, and an open kitchen and living area that is perfect for entertaining.  The master is very spacious and features nice size closets.  Impact doors lead out to a wonderful covered terrace and barbeque area.  The backyard has plenty of room for a pool.  Additionally, there is a small cottage in the back.  The location of this house ideal as it is within walking distance to the historic district of Coconut Grove.  Many of the homes in this part of Coconut Grove are older classic Florida-style homes that have updated and remodeled interiors.  There are currently four properties for sale within a few blocks of this home that priced between the mid-$600s and over $1.7 million.  Only three homes have sold in past 90 days with sale prices between the mid-$500s and upper-$600s. 

View Coconut Grover Properties Under $1 Million

1669 Onaway Drive, List Price:  $875,000 
If privacy is your main objective, this house is perfect for you.  It is situated in lovely part of the Grove close to main travel arteries as well as Vizcaya Museum and Gardens as well as other locations of interest in Coconut Grove and Coral Gables.  Set back off the street and surrounded by lush tropical vegetation, the almost 1800-square foot house has a lot to offer including a wonderful and updated gourmet kitchen, hardwood floors, a large master suite with great walk-in closet and more.  The main house has two bedrooms and one and a half bath while the cottage located by the pool brings and additional bedroom and bath to the table.  The rooms are open and airy making you feel like you have more space than you do.  Other properties for sale within a few blocks start in the mid-$600s and climb into the millions.  This is simply an opportunity to buy in a great neighborhood for a lot less than many of the residents have paid.  Recently sold homes (over the past 90 days) indicate that buyers paid anywhere from the mid-$700s to over $1.7 million.  The average sold price per square foot is around $355. 

Coconut Grove – Best of Both Worlds

Coconut Grove has a lot to offer home buyers wanting a wonderful house with lots of character on a quiet street.  When considering where to buy a home in South Florida, Coconut Grove real estate gives you the best of both worlds – more house for your investment centrally located close to everything in the area. 

The Urban Villas at the Grove – An Enclave of Exclusive Luxury

Talk about a crème de la crème community!   The Urban Villas at the Grove is the embodiment of exclusive luxury with only four large townhouses situated in the tiny enclave.  Situated in a part of Coconut Grove where small townhouse communities are becoming the norm, the Urban Villas at the Grove adds to the revitalization of Coconut Grove real estate in the area.  Under construction, completion is tentatively set for early 2014 for the three-bedroom, two-and-a-half bath homes.

Location

The Urban Villas are located in the center of Coconut Grove with parks and other Coconut Grove highlights within walking distance or a really short drive.  Coconut Grove has a lot of history as it is the oldest continuously inhabited city in Miami-Dade County.  It is adjacent to Coral Gables and only about 15 minutes from Brickell and Downtown Miami. 

Amenities of the Urban Villas at the Grove

Contemporary elegance is the perfect description of the Urban Villas at the Grove.  In an area of Coconut Grove where the classic Mediterranean architecture is the character of most of the surrounding homes, the Urban Villas stand apart from the rest with sleek lines and an modern appeal.  There are high ceilings, formal living and dining rooms, and the finest details throughout the each home.  The two- residences feature three bedrooms and two-and-a-half baths and upper floor balconies.  The master is large and includes a master bath with dual sinks, spa tub & shower, and a bidet. The gourmet kitchen is large and has stainless steel appliances, granite counter tops, and beautiful contemporary custom cabinetry along with a center island. Outside, each home has a pool with a covered patio and deck as well as tropical landscaping, electronic security gates and more.  Along with the one-car garage, there is room for additional parking.

Real Estate at the Urban Villas at the Grove

Each residence in this exclusive enclave encompasses 3,800 square feet of living space.  With the Urban Villa's scheduled completion in early 2014, each is listed at $699,000.  Real estate list prices and home values in the immediate vicinity vary with some starting as low as the mid-$200s for older, smaller properties in need of major overhauls to over $700K for newly constructed homes within a few blocks. 

Bringing a New Appeal to an Established Area

The Urban Villas at the Grove is bringing a new appeal to an established area in Coconut Grove.  These townhouses convey a contemporary flair that adds a sense of beauty and sophistication.  Coconut Grove real estate offers some of the most exclusive and sought after properties in all of Miami-Dade as well as Florida.  With more and more projects in the works, this part of Coconut Grove is getting a wonderful makeover. 

Top Five Coconut Grove Real Estate Listings Under $1 Million

Coconut Grove is well known for its beautiful homes and elegant condominium properties.  While this is a very exclusive community where many area celebrities and athletes live, it is also a favorite of local South Florida residents who have the ability to afford high-end real estate.  Following are the top five Coconut Grove real estate listings under $1 million. 

Coconut Grove Homes for Sale

4070 Hardie Avenue, Eleda, List Price:  $970,000

For buyers who love character and charm, this classic Key-West style home has four bedrooms and three baths under 2,716 square feet.  Built in 1945, the home has recently had major renovations in 2009 and features a perfectly balanced combination of an updated modern look with an old Florida charm.  The floor plan is absolutely perfect maximizing space with a nice flow from room to room.  With three bedrooms upstairs including the master and one bedroom on the first floor, there is definitely room for guests.  Some of the highlights include beautiful wood beam vaulted ceilings and bamboo floors in every room.  The kitchen is magnificent with a contemporary design and tons of counter space.  It is a chef’ dream kitchen and has high end appliances and cabinetry.  The second-floor master suite is huge with a custom-built walk-in closet and large bath.  This is a glorious home in a one of Coconut Grove’s well-sought after neighborhoods.

3350 SW 27^th Avenue, Ritz Carlton Residences,

The Ritz Carlton Residences are situated on the waterfront with wonderful bay and city views.  They feature floor to ceiling windows and fantastic kitchens with granite counter tops and high-end cabinetry and appliances.  Residents enjoy all the five-star amenities of the Ritz Carlton Hotel including valet parking, concierge and in-room dining.  The pool and surrounding pool deck have a resort atmosphere with cabanas, cushioned lounge chairs and full-service extras. 

RitzCarlton Residences for Sale

#1204, List Price:  $925,000

#1406, List Price:  $895,000

Irvington Homes for Sale

3845 Irvington Avenue, Irvington, List Price:  $915,000

Another beautiful Coconut Grove home, this classic Florida bungalow offers a balanced mix of old and new on a quiet well-sought after kid-friendly street in a popular neighborhood.  The home has vaulted ceilings and wonderful fixtures and finishes that make this home outstanding.  The master suite is large and had a fireplace.  French doors lead out to a great outdoor area with a pool surrounded by tropical landscaping and a wonderful area for entertaining.  One of the best features of this property is the mature landscaping that surrounds the home.

3670 SW 37^th Avenue, Irvington, List Price:  $849,000

Here is a huge opportunity to own a large, 3,300+ square-foot home at a lesser price than similar homes in the neighborhood with this short sale.  This Mediterranean-style home has tons of high-end features like custom details, surround sound throughout the home, a great kitchen with granite counter tops, an island workspace/breakfast bar, and stainless steel appliances.  The master suite has a steam and Jacuzzi and a balcony overlooking an exquisite backyard.  Surrounding the pool is a lovely entertaining area with lush tropical landscaping. Situated in a quiet neighborhood, this is a great family home. 

Lots of Options for the Price

Coconut Grove real estate offers lots of options for the price.  Whether it is a home in a condominium or on a wonderful Coconut Grove street, buyers can easily find what they want for under $1 million.

Grove Isle Condominium -- Coconut Grove

Grove Isle is a tropical oasis situated just off the northern end of Coconut Grove on a 20-acre island that juts out into Biscayne Bay.  With 24-hour manned, gated security, this secluded piece of paradise is the epitome of Old Florida.  As a self-contained island, Grove Isle features a resort, restaurant and more in order to create quiet retreat from all of the activity in Miami.  This is definitely a very well sought after address in terms of Coconut Grove real estate.

Buildings

Built between 1979 and 1981, Grove Isle Condominiums includes three 18-story buildings with a total of 510 residences in all three buildings.  The three buildings house residences of different sizes: Tower One features two, three, and four-bedroom units that range between 2,614 square feet and 5,012 square feet; Tower Two houses two and three-bedroom units that are 1,642 square feet to 2,424 square feet; and, Tower Three has the most variety with one to six-bedroom residences ranging from 1,404 square feet to 5,812 square feet.

Grove Isle Location

A short distance out into the Bay from Coconut Grove, Grove Isles Condominiums is perfectly situated to be the focal point on the man-made island.  This idyllic condominium is located just minutes from historic Coconut Grove and Dinner Key Marina as well as Cocowalk and the Magnificent Mile.  Brickell, the Design District and the beaches are only about 15 minutes away allowing residents to frequent these areas while still escaping to a tropical paradise.

Grove Isle Amenities

Grove Isles Condominiums offer the utmost in quality extras when it comes to amenities.  When it comes to community amenities, first and foremost, there is manned gated security at the entrance to each building.  From there, there is 24 Hour Valet Parking; a state of the art fitness center; Spa Terre; a heating outdoor pool overlooking the Bay; an 85-slip marina for boat and yacht owners; a tropically-landscaped jogging path; a US Open Hard Court tennis court and 11 Har-Tru clay courts; dry cleaning and baby service; and, more. 

Inside each residence, because the buildings are up to 15 years old, many have been updated and remodeled to give them a modern look.  It is not uncommon to see more individuality in the design, updated gourmet kitchens with high-end appliances, upscale fixtures and finishes including marble floors, sleek lighting fixtures, and so much more.  A common design element throughout every home is the floor to ceiling windows that showcase the amazing views of the Bay, city and even out into the Atlantic Ocean creating a huge “WOW” factor every time you enter each room.

Grove Isle Real Estate

Grove Isle real estate is always in demand.  Where most buildings have about 5-10 percent of the residences for sale, Grove Isle has only a mere one percent on the market.  List prices fall between about $600K and over $1.2 million. 

So far, this year, 11 properties have sold with an average sale price of about $650K.  Most of the properties were listed between the mid-$400s and mid-$700s with only two properties listed over $1 million. 

With Coconut Grove rentals, Grove Isle properties come on the market every so often and are available on an annual basis.  Currently there are two-bedroom properties available with rental rates falling between $3,400 and $3,800 per month. 

Old Florida Style with a Modern Twist

Grove Isle Condos offers old Florida style with a modern twist for Coconut Grove real estate.  Each residence has its own flair and character to appease the tastes and desires of Coconut Grove condominium buyers.  This is a wonderful place to call home and probably never leave.

Favorite Places in Coral Gables

Coral Gables is often known as the “city beautiful.”  After one visit, it is easy to see why people love coming to this beautiful city.  The city is full of the best places to shop, dine and enjoy the arts and cultures for which this area is known.  From meandering along the Magnificent Mile to spending the day at Cocowalk in Coconut Grove, there is so much to do that the list can easily grow long.  In an effort to highlight some of the most popular and well known spots, following are some the community’s most favorite hot spots for visitors and newcomers to Coral Gables.

Miracle Mile

Coral Gables is known, first and foremost, for the Miracle Mile.  Situated in the center of the business district of Coral Gables, the Miracle Mile refers to a section of Coral Way between LeJeune Road and Douglas Road.  It is filled with local eateries, high-end shops, and art galleries that make walking a pleasure.  Many residents of Miami and other parts of Miami-Dade come to Coral Gables to eat and shop along this stretch. Some of the favorite stops are Red Koi Thai and Sushi Lounge, Hillstone, and Tarpon Bend Food and Tackle for dining, and MiArte and Actors Playhouse for arts and entertainment.  The businesses and property

owners who live and work along the Miracle Mile work hard to make it a destination with festivals, art exhibits and more throughout the year. 

In terms of Coral Gables real estate, there are several upscale, luxury condominiums located on Coral Way and within several blocks that are ideal for those who want to be near the Miracle Mile.  From boutique buildings like Gables on the Green and Gables Park Tower to exclusive condominiums like Segovia Tower to larger condominiums like Ten Aragon, there is property to fit many budgets with list prices starting in the upper-$200s and climbing into the multi-million dollar ranges.

Village of Merrick Park

The Village of Merrick Park is what developers like to call an upscale lifestyle center.  In essence, this gorgeous mall, built in 2002, is Coral Gables’ quintessential shopping center with all of the upscale national retailers like Nordstrom, Tiffany, Gucci, Jimmy Choo and more.  Here, residents and visitors spend tons of time shopping and dining at well-known national, regional and local restaurants like Villagio, Café Bistro at Nordstrom and others not to mention working out at world famous Equinox Fitness. 

For residents who want enjoy all that the Village of Merrick Park has to offer, there are several Coral Gables condominiums and neighborhoods within a short walk.  Two very popular communities are 55 Merrick and One Village Place each with list prices starting in the mid-$300s and offering all the amenities of a five-star resort.  Another building set to be completed in 2014 is Merrick Manor which is adjacent to the Villages of Merrick Park.  In this building, residence list prices will start in the upper-$100s and feature updated and elegant homes as well as amazing amenities for residents and guests.  As for single family homes, there are many homes on streets that surround this growing area of Coral Gables. 

Cocowalk, Coconut Grove

Cocowalk is a wonderful outdoor mall of sorts with all of the popular retailers seen at most any high-end shopping center.  As a destination by many who visit and live in the area, Cocowalk offers tons of activity in addition to shopping and dining to create a very relaxing and happy environment.  Afternoon concerts on the piazza are a regular occurrence as are other events tied to different holidays and activities.  While many of the businesses are regional and national companies, people love coming out to Cocowalk to relish the outdoor atmosphere while enjoying a cigar from Coco Cigar or a Venti Iced Latte from Starbucks. 

Because Cocowalk is situated in the center of the community, Coconut Grove real estate is plentiful for all types of buyers.  The Moorings and The Anchorage, exclusive gated communities; luxury condominiums like the Ritz Carlton Coconut Grove and Grovenor House; and, secluded townhome communities like Cloisters on the Bay are all within a short drive or even walk from Cocowalk.   Investors see the draw to Coconut Grove and want to bring more residential development to the area with luxury projects like the Grove at Grand Bay.  Because Coconut Grove is a more exclusive area of Miami-Dade County, the area is in high-demand and offers many buyers the opportunity to buy with list prices starting in the upper-$200s and surpassing $10,000,000. 

A Great Place to Live

Coral Gables is a great place to live.  Residents and visitors from all over Miami-Dade County love to come to the Gables to enjoy all it has to offer.  For those who choose to call Coral Gables home, it is a city filled with so much.  Outside the most popular places to go, there are some hidden treasures to find which makes it obvious why Coral Gables is the City Beautiful.

L'Hermitage -- Coconut Grove

L’Hermitage is a wonderfully secluded townhome community in the Coconut Grove section of Miami-Dade County.  This exclusive enclave has only 75 Mediterranean style townhomes with many of them facing out onto Biscayne Bay.  Constructed in the early 1980's, the townhomes features clusters of eight to 10 residences around cul-de-sacs throughout the community.  L’Hermitage real estate appeals to those who want to feel like they still live in a single family home but have the conveniences of living in a condominium style community. 

Location

Located in in Coconut Grove, L’Hermitage is situated along Biscayne Bay.  L’Hermitage is just a short drive to Coconut Grove’s historic district and excellent shopping and dining at the famed CocoWalk.  It is tucked away from the hustle and bustle in its own tranquil and tropical setting. 

Coconut Grove is just five minutes away from Brickell, 15 minutes from Miami International Airport, 10 minutes from Coral Gables’ famed Magnificent Mile and only 15 minutes from Key Biscayne and Miami Beach.

L’Hermitage Amenities

A lot of amenities come with living in L’Hermitage Coconut Grove that adds to the comfort of living in this exclusive community.  From the beautiful gated entrance with a 24-hour guard to the tennis courts, private docks and community pool with tropical landscaping, residents have all the niceties of living at a five-star resort. 

Individual residences are designed like a Mediterranean Villa right down (or up as the case may be) to the Spanish tile roofs.  The three story residences feature main living areas on the second level with two-car garages and an additional living area on the first level and bedrooms on the third level.  Some of the larger townhomes even have elevators.  While many of the residences have been remodeled or updated, every residence has tons of space with total square feet between

approximately 3,400 and just over 4,000.   Not only do they have large master suites and gourmet kitchens with updated appliances, they have the most inviting screened in patios ideal for morning coffee or afternoon tea.  Because the homes are individually owned, each one has an individual style and design elements.

L’Hermitage Real Estate

L’Hermitage Coconut Grove real estate offers a level of exclusivity found in only the most elite townhome communities in Miami-Dade County.  This is a very popular community with buyers wanting a second home in South Florida, international buyers who conduct business in the area and retirees who have relocated or downsized from larger single family homes.  Even though most of the homes are owner-occupied, this is an excellent opportunity for investors who desire to own Coconut Grove rental property at L’Hermitage. 

List prices typically start at about the $1 million mark and climb to over $2 million depending on the size, location in the community and the view.  In 2012, three units sold with sale prices ranging from the upper $900s to over $2 million.  In terms of additional costs for homeowners, there is a monthly HOA fee fluctuating between $1,100 to over $3,400 (subject to change).

As for Coconut Grove rental property, occasionally, there are opportunities to rent property at L’Hermitage Coconut Grove.  When these properties come available, they are typically swiped up in the blink of an eye.   When there is a rental property, monthly rental rates usually fall between $5,000 and $8,000.

A Secluded Tropical Oasis in Coconut Grove

Coconut Grove, in and of itself, is a very chic and exclusive part of Miami-Dade County.  L’Hermitage offers a secluded tropical oasis within Coconut Grove.  It is easy to see why so many have the desire to live here.  When the opportunity arises, buyers who want the convenience of a condominium, lean towards L’Hermitage real estate because they get the best of both worlds.   

Coral Gables Riviera

Coral Gables Riviera is the kind of neighborhood that appeals to a broad range of homeowners.  From older homes in contemporary and traditional styles to newly constructed Mediterranean estate-like homes, there is definitely a home to fit most needs and desires as well as accommodate buyers looking for a permanent residence, vacation home or investment property.

Coral Gables Riviera Location

As a fairly large neighborhood, Coral Gables Riviera is situated just a short jaunt from Merrick Park, the University of Miami and the exclusive Riviera Country Club.  West of Coconut Grove, the residents of Coral Gables Riviera enjoy spending time shopping, dining and enjoying everything in Coconut Grove.   

Coral Gables Riviera Highlights

Coral Gables Riviera is bound by 72^nd Street to the south and considered by some realtors as part of the Coral Gables Platinum Triangle.  This elite part of Coral Gables is home to some of the most exclusive homes in this stylish Miami-Dade County city.  Considered a waterfront community, some of the homes back up to Coral Gables waterways and provide access into Biscayne Bay while others are surrounded by land and tropical, green foliage.  The waterfront homes have direct access to Biscayne Bay with fixed bridges.  The fixed bridges along the area waterways have 7 to18-foot clearances and accommodate boats 20 to 40-feet.   

For golf lovers, the Riviera Country Club is very close to Coral Gables Riviera making it easy for residents to hit the links.  And families find the neighborhood ideal as it is close to some of the best private and public schools in the entire state. 

Real Estate in Coral Gables Riviera

CoralGables Riviera real estate features some of the most beautiful estate homes in all of Coral Gables.  On that same note, the neighborhood is also home to the quaintest and coziest Florida bungalows that showcase unique characteristics and charm.  One thing that all the homes in this exclusive neighborhood have in common is the care and lush landscaping that surround each and every home. 

Throughout the community, architectural styles vary from classic “old Florida” bungalows built in the early to mid-1900s to newly-built mammoth estates and everything in between them.  Many of the older homes have either been remodeled over the years to incorporate modern amenities and updates or are in need of some tender loving care. 

Because the home values range from just under $500K into the multi-millions, Coral Gables Rivierareal estate appeals to many different buyers.  Currently, there are 46 homes listed for sale with prices falling between $460K and just under $7 million.  There is also a lot for sale in the mid-$300s. 

Recent sales indicate that almost 30 homes have already sold in Coral Gables Riviera since the beginning of 2013 with a wide range of sale prices between $360K for a home in need of remodeling and $3.75 million.  And, more importantly, the average number of days on the market is only 62 days.  The interesting thing to note is that only three of the 28 properties that sold were on the market more than 100 days. 

In terms of Coral Gables Riviera rentals, because there is such a wide range of homes, it is common for investors to seek out investment property in this neighborhood.  For those who go this route, monthly rental rates typically range from about $2,000 to over $9,000. 

A Very Desirable Neighborhood

Coral Gables Riviera is a very desirable neighborhood that appeals to a diverse group of home buyers.  No matter the size or style of home, this is a neighborhood where the residents love where they live and take great pride in preserving the appearance and atmosphere.  It is definitely a top pick in Coral Gablesreal estate.