When it comes to investing in real estate, potential investors are looking for dynamic, growing, and vibrant cities or neighborhoods. Thankfully, the neighborhoods in and around Miami-Dade County exhibit such traits. The trick will now be identifying the right neighborhood to match your investment goals.
To help you make the right real estate investment, the experienced team from Novel Management has put together this article. We’ll analyze the allure of the best neighborhoods in Miami-Dade so you can decide which one best aligns with your goals!
If you are on the lookout for a traditional suburban neighborhood with good rental demand, you invest should in Pinecrest. The neighborhood is located a few minutes from Downtown Miami and enjoys stable demand from various tenant demographics.
The public amenities lure one in from the onset. As you walk through Pinecrest, you will appreciate the beautiful tree-lined streets and manicured gardens. The community is also well organized allowing pedestrians and cyclists to make their way around.
In addition to this, the community has organized several activities in the calendar year that bring the residents together. Apart from the Farmers Market, local events such as the Pinecrest Fine Arts Festival are local favorites.
Similar to the aforementioned option, Key Biscayne is also located a few minutes from the downtown area. A key difference is the atmosphere. The ambiance here is more relaxed and laid-back. This is reflected in the businesses that thrive in this area.
Residents are attracted to Key Biscayne because of its proximity to the beach. Should you want a break from the bustle of everyday life and enjoy a quick swim, the beaches are only a few minutes away. Households are also attracted to Key Biscayne, Florida for the well-performing schools. The schools in the area are known for their comprehensive programs. One of the notable mentions is Mast Academy.
Few neighborhoods are as established and iconic as Coral Gables. The neighborhood has a rich history that spreads to the 1920s. Its rich heritage is reflected in the type of housing and real estate available. A lot of the residential buildings embody beautiful Mediterranean architecture.
The stunning architecture in the area is complimented by the expansive local parks in Coral Gables. These green areas offer a much-needed break from city life. It is where the locals find themselves in the evenings and weekends. In terms of real estate, investors have a wide range of options to choose from. You can invest in sprawling luxurious estates, gated communities, or condos in new high-rise residential towers.
Sunny Isles Beach
Located to the northeast, is the stunning neighborhood of Sunny Isles Beach. The neighborhood attracts a wide range of prospective tenants. The diversity in culture is reflected in the boutiques, dining establishments, and cafes in the area, most of which are located along Collins Avenue. The Aventura Mall is another local favorite.
Few neighborhoods can match Sunny Isles Beach in terms of proximity to desired amenities. To further argue its case, the neighborhood has several parks. The community comes together to relax or exercise while taking in the natural beauty of the area.
Amenities in Sunny Isles Beach would not have been complete without world-class dining and shopping options. For those attracted by what Sunny Isles Beach offers, you should be aware of the real estate options here. The market mostly offers luxury condos and single-family residences.
For those with a penchant for the fast, urban lifestyle, we recommend that you consider Brickell. It is located to the south of Downtown Miami’s CBD.
Due to its proximity, the area is a mix of commercial and residential with a vibrant atmosphere. It is referred to by locals as the “Manhattan of the South”. This is because Brickell was long associated with financial, banking, and investment entities.
As mentioned, the lifestyle here is vibrant and doesn’t matter whether it’s day or night. You can find almost everything you need within walking distance of your apartment. The area is home to a large number of restaurants, bars, and cafes. This makes it attractive to a diverse tenant demographic and offers short and long-term investment opportunities.
Miami-Dade County is renowned for its beach lifestyle and waterfront activities. The epitome of such living has to be South Beach. It’s the playground of the county; not only in terms of the beach but also with its vibrant nightlife and dining options.
Its vibrancy attracts people from all walks of life. You are assured of activities at any time of day. Locals will attest to the celebration and community events that fill a calendar year. There is never a boring day in South Beach making it a great option for long and short-term rental properties.
With its thriving economy, growing population, good weather, and a plethora of outdoor activities, you can appreciate the benefits of investing in Miami-Dade County. We recommend that you consider Key Biscayne, Coral Gables, Sunny Isles Beach, Brickell, and South Beach.
Each neighborhood has its unique characteristics and this must be matched to an investor’s unique needs, preferences, and financial needs. An investor must be able to analyze the market thoroughly and make the best possible decision.
Consider partnering with the leading service providers in the market, Novel Management. We are a trusted property management firm in Miami having advised dozens of clients in the past. Our team has years of experience in the region and has the data on the various neighborhoods mentioned above.
Get in touch with us today. Our property managers are always ready to hear from clients and offer them customized solutions to their property issues!