In my opinion a one bedroom in Sunny Isles would most likely be better. I would haver to do a little research on exactly what is on the market at any given moment but that is my first instinct.
I would be glad to do the seach and send you results along with comps, feel free to contact me directly.
South Florida Brokers
To see which is better as an investment, you got to find out the rents that you will be getting,
and to see the value increases as well - in both Aventura and Sunny Isles.
Each building is different too - and some bring more in income than others.
This is because that remodeled/newer looking buildings with better amenities are more popular,
will rent easier and earn you more money. Building with lower maintenance fees/tax base - will give you more profit also.
So, I'd go over every available property and decide after getting my math done.
Overall, 1br is better - but still, need to go over that math!
Hope this helps,
Beachfront Realty, Inc.
There are a few variables that come to mind... First, The particular building that each is located. Aventura is a stable residential market ~ where Sunny Isles Beach - Also stable is more of a Resort Beachfront destination. Sunny Isles is transforming rapidly. Both could be great investments!
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There are so many amenities in these posh newer buildings . Why a studio ?
You can buy fully furnished one bedroom unit with terrace and completely furnished.
If you plan on using unit as a second home,you can put on hotel rental program which covers maintenance and taxes for unit owner .
There are more advantages in selling ocean front property. The beach properties as opposed to inland -off
beach, are always a plus for investors.
Call me and I will be happy to show you units in these newer buildings.
Suzanne Fine, Realtor, Real Living -FSR
There is more of a market for 2/2's than anything else, and they are easy to rent provided you buy in the right building. Please feel free to call me at (305) 542 9109 at any time sould you wish to discuss this issue in more depth. It is a good question, and one that would warrant a discussion prior to making a final decision.
Gary Lits Realty
Cell: (305) 542 9109
Your question was about a studio in Sunny Isles Beach vs. a 1 bedroom in Aventura, and you plan to invest.
In that case, you need to calculate in 4 things: 1) Carrying Costs for both properties (mortgage, maintenance fee, taxes, and also the information on how probable the assessments are in the future -- by visual observation of balconies, f.e., and talking to the management company) 2) Cash Flow - to find out the Cash Flow you'll need to find out Monthly Rent (realtor would be a great source on that, and it will be based on most recent rental history, just disregarding seasonal increase in rent) and then subtract your Carrying Costs from the Monthly Rent. Also ask about vacancy ration for the building. 3) How quickly you will get your investment money back in terms of years = investment capital / (cash flow X 12 months). The quicker return, the better investment it is. 4) Potential for increase in value - this depends on the location of the building (beach and across the beach are good) - however, I noticed a trend - many clients prefer newer buildings in Aventura vs. older buildings in Sunny Isles Beach - plus potential assessments are more probable in older buildings.
Studios are not as popular as 1 bedrooms and will normally bring in less in terms of cash flow.
As to rental activity in Aventura vs. Sunny Isles - I see Aventura being a little more practical/lively for 200K price point in comparison with Sunny Isles. Overall buildings are younger as well...
So, all in all, not knowing specifics, I'd say go with Aventura and 1 bedroom. Luckily, In your price range, there are a lot of choices, including 2 bedrooms across the beach in Sunny Isles or sometimes even on the beach (if you widen your search to Hallandale/Hollywood).
For more info, please call 305-904-2355 or email IrinaKaran@gmail.com.
Irina Karan/Beachfront Realty, Inc.
Other factors are price, condition, location, age of the building and financial condition of the association.
WATERWAY REALTY, REALTORS
I have one listed at $ 265,000. that is a great investment and as personal use to enjoy as well.
One Stop Realty