Sunny Isles Marco Polo Beach Resort ~ Condo Hotel Advice

Aventura Beach Club Marco Polo Beach ResortSunny Isles Marco Polo Beach Resort ~ Condo Hotel Advice. In reviewing a customer’s excellent condo hotel deal with Sunny Isles real estate, I decided to relay the answer here on the…

The maximum residency in a condo hotel (zoning) is 6 months. Income may cover costs with the typical financing at 20 to 30% down. The rental income through Ramada management is a good way to offset taxes and maintenance fees. It would cover only a small portion of the principal. Through owner management or property management outside of Ramada, net income could be slightly higher. The current owner rented this unit for $525 weekly plus $50 cleaning plus 13% tax. On the flip side, I like the idea of Ramada’s network, which may keep occupancy higher hence netting an equivalent as owner/management.

Marco Polo Beach Resort

Oceanfront condo hotels are typically purchased by the vacationer & investor looking for passive income with stress-free management in place. The potential for appreciation is great based on the price point of $110,000. Anything oceanfront less than $200k in a highly desirable area is RARE. Also, this high tourist area makes it more exclusive in the coming years.

  • The Yearly Taxes are Estimated at $2,082 or $173 per month
  • Maintenance fees at ~ $550 per month
  • At 25% down ($27,500), the remaining balance is $82,500. At 7% (example only), the monthly would be $548.87.
  • Total monthly expense estimate = $1,272
The risk is occupancy rate and the ability to keep income coming in… Trump International Beach Resort last year was at 70%, and Bentley Hilton expects new records set in SoBe this year at 85% with the weakened US dollar.
Miami Beaches did set a new tourist record last year, and this year should exceed last year’s numbers. Sunny Isles Beach is ranked the #1 tourist destination through
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About Ashton Coleman

Ashton is a tech & social media savvy professional who understands the industry providing white-glove service with a wealth of experience, an impeccable reputation, and a keen ability to efficiently handle all facets of real estate. Ashton’s territory has grown significantly since 2002, marketing & selling extraordinary South Florida coastal real estate from Miami Beach to Lighthouse Point. A Certified Luxury Homes Marketing Specialist (Million Dollar Guild), with a multitude of other residential certifications, Ashton provides both exceptional service and unique selling techniques. His success is attributed to an unparalleled work ethic with years of experience including top-tier professional services where the ‘art of the deal’ is mastered in contract negotiations, deal-making intricacies and the end, results-driven real estate.

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6 thoughts on “Sunny Isles Marco Polo Beach Resort ~ Condo Hotel Advice

  1. Hi, Thanks for your excellent blog and articles. Enjoyed them very much. I have a question reg. you statement that “The maximum residency in a condo hotel (zoning) is 6 months.” Is this specifically for Sunny Isles, or does it also apply to Miami Beach? Thanks in advance for any information!!

  2. That’s a great question rk and I would say it’s for every condo-hotel based on City regulated zoning laws of Miami Dade County including both Sunny Isles Beach and Miami Beach. Many may say it’s unregulated and many owners DO slip past the commandos but fyi, I would love to have additional feedback from educated readers of this blog…

  3. Ashton, thanks for the quick reply. I just wanted to let you know what I’ve learnt since then, though it is still incomplete. Shortly after posting the above question, I emailed the Miami Beach Zoning Department with essentially the same question. I have been looking at buying a unit in a condo-hotel in the city of Mimai Beach, with a goal of spending anywhere from a couple of weeks to the entire winter there, each year. My concern was whether there are any city zoning rules that may set upper limits on how long one can stay in the unit. I mentioned that my plan was to stay there upto 6 months per year. A very helpful person from the zoning dept. emailed back the next day, and wanted to know two things, mainly, whether I planned to apply for homestead exemption (no) and how large the unit was (~900 sf). He then emailed back that there was no zoning problem with my intended use of staying there upto 6 months each winter. While this did answer the immediate question, I was left with the impression that the rules may be different if the unit were smaller (perhaps a small studio with no bedroom may have more restrictive zoning?) I wrote back asking if there was some document or web site that explained the zoning for all units and condo-hotels, not just my specific case, but have not heard back yet. If I learn something additional on this topic I will post back. A note for potential buyers in condo-hotels: sometimes there may be additional restrictions imposed in the condo rules. One needs to check both the condo docs, and the city zoning rules, and the more restrictive of the two may apply.