Coming soon to Allapattah just blocks from the Miami River and the Miami Hospital District is a new 16-story condo development with 283 investor-friendly condo units that allow short-term rentals. River District 14 has been advanced to the permitting phase and is preparing for construction to begin, according to The Real Deal in April.
This is the only building in the area approved for AirBnB style, nightly/weekly/monthly short-term rentals. With all of the traveling nurses, doctors and patients looking for flexible stays near the Hospital District, this is the perfect opportunity for investors.
River District 14 Miami Map
The Location of River District 14
The location of River District 14 is the first thing that comes to mind. Allapattah is located just west of I-95 and has been lauded as the next area of gentrification as new developments continue to saturate the areas closer to the Biscayne Bay. With popular eateries and entertainment venues such as The Wharf and Seaspice, socialites and urban-dwellers are already venturing over to the banks of the Miami River to enjoy afternoons and evenings of fun.
Adjacent to River District 14’s construction site is River Landing, a shopping center that offers a new Publix grocery, Pet Supermarket, fast food options including Chic Fila and Haagen Daaz, as well as Planet Fitness and retail shopping outlets. Nearby Metrorail Stations make commuting into Downtown Miami, Brickell, Coconut Grove and Coral Gables a breeze, which also brings up the proximity to the University of Miami (UHealth) Campus. Access to Miami International Airport is also a cinch on the Metrorail, or via car.
Rendering of River District 14 Miami Streetscape
River District 14 Investment Notes
The residences in River District 14 are of course spectacular, but the main draw to the project is going to be the flexibility of use. Since the condo units have the option of being delivered fully-furnished and allow short term rentals, we can think of several profiles of potential buyers or renters that would maximize the potential for the space.
For starters given the proximity to the hospital district, families of long-term patients are always faced with a challenge of finding suitable accommodations close by. Hotels seem so transient and you cannot properly settle in during your stay. You would have to eat out for every meal. With a short-term rental condo, you could stay adjacent to the hospital so that you are available for your loved one during their recovery and close to the medical care if you are in an outpatient situation. You can live in a proper home and settle in to live as normally as possible during this transition time.
It is also amazing for visiting doctors or nurses who would stay for a few months before returning to their home, wherever that may be. Doctors are also known to have to work long shifts and odd hours, so a place to rest their head close by is immensely valuable. Medical students value living near the hospital as well so that they are readily available during their residency, yet still have convenient access to the nightlife that the city core offers.
Being close to the airport is another draw to this location. Pilots and flight attendants are known to work together to have what is called a “crash pad”. This is a rented apartment that is convenient to the airport where flight professionals can arrange to stay during long layovers or during stop-ins to different cities.
The possibilities for this location and short-term rental offering really are endless without even tapping into the obvious tourist market and long-term tenants.
Rendering of River District 14 Miami Game Room
Inside The Units At River District 14
As we mentioned above, the units at River District 14 are delivered fully finished with the option of also being turnkey furnished. The closets are fully built out and everything is ready for the first tenants or owners upon closing. With smart access utilizing keyless entry, changing tenants is a breeze.
Each unit has 9-foot ceilings and gourmet kitchens with stainless appliance packages. The bathrooms have Swedish rain showers and custom vanities as well as contemporary lighting packages that include recessed lighting, dimmers and lighting control. Each apartment also has a stackable washer/dryer and comes with one parking space.
The different sizes range from studios up to 2 bedroom/2 bath options with square footages that range form 520 square feet up to 1,130 square feet for a 2-bedroom walkup residence. Prices range from $471,000 up to $1M.
Each apartment includes access to the state-of-the-art fitness center, coworking spaces, an expansive pool deck with cabanas, a media room and pickleball courts.
If you are interested in a private presentation on River District 14 with specific availability and pricing, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@sydotnet.net.
Rendering of River District 14 Miami Pool
Rendering of River District 14 Miami Gym
Rendering of River District 14 Miami Facade
