Saturday, May 31, 2014

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 27th 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. 

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. 

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