Waterfront Loft-Style Condo in
2950 NE 188th St 406 Aventura, FL 33180
For Sale
$550,000
Modern 1BR condo with Intracoastal views and resort-style amenities.
Property Size1,214 SF
Price / SF$453.05
Days on Market563
Property Features for 2950 NE 188th St 406
General Information
- Standard status
- Active
- Size
- 1,214 SF
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 2008
Listing Agency:
AMG International Realty
(305) 761-2655
Listed By:
Heloisa Arazi · License #3015564
(305) 761-2655
Source:
Exitrealty
Added: Jan 8, 2025
Changed: Jul 10
Last Checked: Jul 24 at 6:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of AMG International Realty
Investment Insights
Based on property information with market context.
This two-story loft-style condo at Artech offers modern waterfront living. Designed by Carlos Ott, this residence features one bedroom plus a den and two bathrooms. The condo includes sleek ceramic floors, double-height ceilings, a washer and dryer, and two private balconies with Intracoastal views. The den on the main level can serve as an office or guest space. The upstairs primary suite provides comfort and privacy. Artech provides a resort-style lifestyle with amenities such as a fitness center, spa, waterside pool, two tennis courts, indoor racquetball, a cinema, an impressive party room, and a marina for vessels up to 110 feet. Residents benefit from 24-hour concierge, valet, and security services. The property is located across from a top-rated school and minutes from Aventura’s dining and shopping.
Key Highlights
- Waterfront living in the architecturally significant Artech building designed by Carlos Ott.
- Two‑story loft‑style condo with 1 bedroom + den and 2 bathrooms.
- Two private balconies offering serene Intracoastal views.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.5k | $29.28 |
| − Vacancy | −$1.6k | −$1.32 |
| EGI | $33.9k | $27.96 |
| − OpEx | −$15.3k | −$12.58 |
| NOI | $18.7k | $15.38 |
1,214 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$266.7K
$233.4K – $311.2K
NOI $18,670 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$615.9K
$538.9K – $718.6K
NOI $43,114 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Residential income properties
FAQs
What type of property is this?
Residential income property - Modern 1BR condo with Intracoastal views and resort-style amenities.
Where is this residential income property located?
The property is located at 2950 NE 188th St 406 Aventura, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Waterfront living in the architecturally significant Artech building designed by Carlos Ott.; Two‑story loft‑style condo with 1 bedroom + den and 2 bathrooms.; Two private balconies offering serene Intracoastal views.
