Vida Residences in Edgewater/Miami
Condos Designed to Maximize Rent Revenue
Hello. Joel Greene here from Condo Hotel Center.
One of the real estate trends I see emerging is that more condo hotels and traditional condos are changing their policies regarding rentals.
In the case of condo hotels, that means allowing individual unit owners to rent out their units without going through the developer’s onsite rental program, for which the developer takes a percentage.
For traditional condos, that means allowing owners to rent out their units on a nightly basis, as opposed to restricting them to 6-month or 12-month leases.
Owners can find renters on their own or use a third-party, home-sharing platform such as Airbnb, Vrbo or Booking.com.
The featured property I have for you today has taken the rental approach to the next level. A residential condo to be built in the Miami area, the larger individual units have been designed to maximize revenue through flexible floorplans.
The condo units that come with two- to four-bedrooms will have lockoffs, giving you the option to:
- Rent the entire unit as a whole apartment
- Rent the unit as two different living spaces
- Live in one section yourself and rent the other section out
- Take the entire unit for your personal use and rent it partially or fully when you’re not there
That flexibility translates into higher occupancy rates. And it’s a way for you to own a luxury vacation home in Florida with rental potential to offset your costs. Read on for details.
Live the Good Life at Vida Residences
Located in the stylish Edgewater community of Miami, Vida Residences will be nine stories tall and have 143 condo units overlooking Biscayne Bay and close to the many restaurants, coffee shops, museums and parks in the area.
Among the amenities the property will offer are:
- 22,000 sq. ft. rooftop oasis that includes a tranquility pool with Jacuzzi, Bali beds, cabanas, fire pit and grilling stations
- Private rooftop restaurant/bar
- Juice and coffee bar
- State-of-the-art fitness and wellness center
- Outdoor fitness/yoga area
- 3,800 sq. ft. high tech, co-work center
- 24/7 concierge, security, valet parking
Owners will also receive paid membership for their first year in a private beach club located on Ocean Drive in the premium South 5th (Sofi) enclave.
No Living or Rental Restrictions
You can live at Vida Residences as a permanent home. Or, as I mentioned at the top, you can use your condo as a vacation home or rental property.
The residences will be provided fully furnished, turnkey and ready for occupancy. They’ll offer sweeping water views of Biscayne Bay.
An up-and-coming area, Edgewater is located between downtown Miami and Miami Beach. It is a vibrant community fueled by culture, restaurants and shopping and offering a true cosmopolitan lifestyle.
From Vida Residences, it’s a few minute drive to the Perez Art Museum Miami, the Frost Science Museum, and beautiful Bayfront Park. It’s also only about a mile to Wynwood’s eclectic art-scape, the Design District’s high-end shopping, and Margaret Pace Park.
Prices Start at $429,084
Construction on Vida Residences is scheduled to begin within a few months and to be complete toward the end of 2024. Reservations for units at pre-construction prices can be made now.
Buyers at Vida Residences can choose studios or residences with one- to four-bedrooms. The units range in size from 387 sq. ft. to 1,780 sq. ft. Prices range from $429,084 to $1,710,000.
Want more details? Read my data sheet.
Many of you reached out with concern in recent weeks about my hospital stay. I’m happy to tell you that the stomach issue I had is fully resolved and I’m feeling 100% back to normal. I greatly appreciate your well wishes.
Again if Vida Residences sounds appealing, whether as a permanent residence, vacation home or rental property, I encourage you to read my detailed data sheet. And if you’re seeking a vacation home in some other Florida location, I hope you’ll give me a call. I can provide you with in-depth information on area condos and condo hotel properties so you can make an informed decision.
Have a nice day.
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Please speak with your personal legal and financial advisors to determine whether this property is suitable for your objectives.