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.  

Top Five Coconut Grove Rentals Under $10,000 Per Month

Coconut Grove is a very popular location for those who spend extended amounts of time in South Florida.   Rental properties are very prevalent in Coconut Grove and are available on seasonal and annual leases at rental rates from as low as $1,200 per month to around $20,000 per month.  Following are the top five Coconut Grove Rentals under $10,000 per month.

3672 Bayview Road, Ewanton Heights, Montly Rental:  $8,850

Situated on a 19,000+ square foot lot, this privately gated home has so much character.  It was built in 1922 and has been restored to combine the original details with an updated and modern twist.  Large rooms feature walls of classic window-pane windows that showcase the perfect landscaping and unbelievable pool and koi pond with waterfall.  The remodeled kitchen is a chef’s dream with high-end stainless steel appliances and lots of workspace on granite counter tops.  The entire property also includes two-bedroom/one-bath cottage in addition to the three-bedroom/three-bath main home.  This home is the epitome of style and refinement.

1 Grove Isle Drive, #A1801, Grove Isle Condominium, Monthly Rental:  $8,500

This is definitely one of the most beautiful spots in Coconut Grove on Grove Isle.  This gorgeous residence at Grove Isle Condominium is perfectly decorated with marble floors throughout the home, a gorgeous master bedroom and spa-like master bath, a gourmet kitchen with high-end appliances, and breathtaking views from the fully rebuilt balcony and windows in every room.  This furnished home is close to Coconut Grove’s historic district as well as famed Cocowalk.

2627 South Bayshore Drive, #706, Grovernor House, Monthly Rental:  $5,500

Grovenor House is one of Coconut Grove’s most prominent residences.  This home features beautiful bay views from the expansive terraces.  The contemporary designed kitchen includes gorgeous granite counter tops and Sneidero Italian cabinetry.  Grovenor House features wonderful amenities including a heated infinity pool, state of the art fitness center, 24-hour concierge and valet, tennis courts, children’s play area and more.  Residents enjoy living within walking distance to Dinner Key Marina, area parks, restaurants and Cocowalk.  This rental is available unfurnished on an annual lease.

2507 Trapp Avenue, Ocean View Heights, Monthly Rental:  $4,500

This is a beautiful seasonal-rental in Coconut Grove with three bedrooms and two baths.  It is beautifully decorated with a warm and comfortable atmosphere.   Two bedrooms open up to terraces and the warm Florida sunshine.  Perfect for snowbirds who spend the winter in Florida, this home is a short drive from Cocowalk and Dinner Key Marina as well as Brickell and Miami Beach.  

3400 SW 27^th Avenue, #307, The Tower Residences, Monthly Rental:  $4,500 

To live at the Residences at The Ritz-Carlton in Coconut Grove is to live in luxury.  Not only does the residence offer all the amenities at the Ritz-Carlton, it features an extraordinary and contemporary design with high-end fixtures and finishes throughout the residence.  Rooms are spacious and flow from one to another.  Along with an expansive balcony and patio areas, the two-bedroom/two-bath home is offered furnished on an annual lease and is available immediately. 

Lots of Options

For those interested in Coconut Grove rentals under $10,000 per month, there are lots of options from which to choose.  Whether the desired property is a single family home or residence in a condominium, this exclusive community in Miami-Dade County is the perfect place to spend an extended amount of time as it is close to everything but just far enough away to allow a quiet and secluded lifestyle.

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.   

Mutiny Park -- Coconut Grove

Mutiny Park is a beautiful condominium in Coconut Grove that was built in 2001. With 22 stories and 211 condominium residences, Mutiny Park lends itself more as a boutique Coconut Grove condominium because of its warm and inviting atmosphere.  Its setting in Coconut Grove only adds to the ambiance of living at Mutiny Park. 

Developed by the Flagler Group, which also developed the Meridian in South Beach, Mutiny Park was built in conjunction with the Sonesta Hotel as one of the area’s first condo-hotel projects in Miami-Dade County.  In a 2001 Miami Today article, Ricardo Dunin, President of the Flagler Group, stated that "condo-hotels such as Mutiny Park are in great demand among South Americans and Europeans who travel here frequently."  The success of this initial project by the Flagler Group was evident before construction was completed when about 65 percent of the units were sold at top off.  

Location
Located at 2889 McFarlane Road, in the heart of Coconut Grove, Mutiny Park is situated in an ideal location within walking distance to Dinner Key Marina, Coco Walk and all that Coconut Grove has to offer.  Coconut Grove real estate appeals to many area celebrities and professional athletes as it is an exclusive part of Miami-Dade County that offers residents a quaint atmosphere and lots of privacy.   As a village within the city of Coral Gables, it is a top destination for anyone living or visiting in the area.

Amenities
Homeowners at Mutiny Park enjoy the use of the Sonesta Hotel’s amenities that include a resort-style swimming pool and luxurious pool deck on the 8th floor, a fully equipped, state of the art fitness center located on the top floor that offers the most amazing views from the floor to ceiling windows, 24-hour security and concierge as well as valet parking and a 24-hour, self-service business center.  Other amenities include assigned parking associated with the owners’ units, free shuttle service to the sister property, Sonesta Beach Resort at Key Biscayne, and the most amazing Bay and city views.  High-end retail shops and excellent restaurants on the ground level of the property add to the convenience of living at Mutiny Park.  Amenities in each residence include large balconies, walk-in closets, well-appointed details, and updated kitchens with stainless steel appliances and granite counter tops.  And, best of all, Mutiny Park allows owners and guests to have their beloved pets in the residences.

Real Estate Information
Mutiny Park is most attractive to those who have retired to sunny Florida as well as part-time residents and investors and features one to four bedroom units of which many are turn-key furnished.  Sizes of the units range from 365 square feet to 2,358 square feet.   List prices range from the upper-$100s to about $1.7 million.  Recent sales indicate that five units have sold since January 2013 with sale prices ranging from the mid-$200s to almost $900K while 11 units sold in 2012 between the mid-$100s to over $600K.  

An ideal investment for part-time residents and investors, owning at Mutiny Park affords owners the ability to place their units into the hotel’s rental pool which are very popular with visitors who spend winters in Florida.   Mutiny Park rentals typically have monthly rates between just under $2,000 for a studio and about $7,000 for an upper floor, three-bedroom unit.  Rental rates vary depending on the size and location of the unit.

An Excellent Investment
The location, quality and amenities alone make Mutiny Park an excellent investment in Coconut Grove real estate.  When adding the advantage of using Sonesta Hotel’s rental program and its management services, the investment is even more enhanced.  Coconut Grove is an exclusive area in Miami-Dade in which many enjoy spending time.  Mutiny Park enhances the experience with everything in and around the property.