If you are a buyer looking for a very reasonably priced, property in South Beach or a Real Estate Agent looking for a great deal for your buyers, I would like to introduce you to an often overlooked building that in my opinion is one of the best values in South Beach.

The building is called Admiral Towers and is located on 1020 Meridian Ave. right next to Flamingo Park.

I believe the reason it is often overlooked is because it is neither flashy nor hip or "sexy". It's most definitely not for the person that buys an apartment to show off, but for the average citizen that is looking for a nice, comfortable place to live in, wants to pay a reasonable price and still have a few amenities (Pool ! Parking !) and a great location in the heart of it all. The location is a short walk from all the attractions of SoBe including Lincoln Road & Ocean Drive (the BEACH !).

This is one of the few places were you can get a decent sized (~800 sqft) 1/1.5 apartment with parking and a pool in the mid 200's. Currently the cheapest unit is listed at 239k. 2/2 are very large for South Beach standards @ 1266 sqft and are currently available starting at 379k.

Another plus is that the building underwent extensive renovations in the past few years, i.e. roof, pool area, painting, balcony restoration, cooling tower, elevators (currently being replaced) i.e. all the big assessments should be taken care of for the next few years.

Prices have come down significantly from 2005 levels, where 1/1.5 apts were selling in the 300k's and 2/2's were selling in the mid 400's.