$2,000,000list price
Per sq ft$935
0 ba · 2,140 sq ft 2 to 4 units
489 NE 62ND ST, MIAMI, FL 33138
Listing courtesy of Leoni Real Estate Corp.. MLS# A12115034.On the MLS · Listed Oct 3
$2,100,000
5900 NE 5TH AVE, MIAMI, FL 33137
4 beds3 baths5,180 sq ftHouseBuilt 1925
Updated today, November 6, 2026This home against Palm Grove
$405 per sq ft, 31% under the Palm Grove median
2 days on the market
Price cut $899,000 since it was listed at $2,999,000
$25,320 in property taxes (2025)
21,344 sq ft lot
Private pool
4 car garage
Palm Grove today: 8 homes for sale, median list price $1,825,000.
About this home
HUGE PRICE DROP! ENORMOUS OPPORTUNITY FOR THE RIGHT BUYER!! Motivated seller of this assemblage of Bayshore lots; price just reduced. Three lots, totaling ½ an acre, on the corner of 59th St. & 5th Ave in rapidly changing Palm Grove. On site is a 100-year-old home spanning 5409 sf. New kitchen & appliances & bathroom. A grand home w/ richly appointed generous rooms. Owned by a prominent Miami family for 80 years. Presently zoned as single family residential, the property is surrounded by single & multi-family and commercially-zoned properties. This home is in the Palm Grove Historic District, and given its age is likely to be deemed "contributing" to the historic ambience of the community. So Seller is looking for that buyer who is willing and able to bring this home back to its former grandeur. Plenty of room to add on to the original core home, whilst preserving the original structure. This is probably the largest single family lot in all of Palm Grove, and is surrounded by an imposing wall. Inside are quiet courtyards under towering trees. Just off Biscayne, this area is undergoing dynamic changes. A nearby property one half this size recently sold for over $6M. Property could become a stand out stunning estate home in the center of it all -- for the right buyer. The potential here is unrivaled... Seller is very motivated. Contact Agent. See property. Make an offer.
Zoned schools
Elementary: Morningside K-8 Center
Middle: Horace Mann Middle School
High: Miami Edison Senior High School
From Miami-Dade County Public Schools attendance zones.
Near this home
Park: Eaton Park, 0.2 mi
Grocery: Key Food Supermarket, 0.8 mi
Distances from the center of Palm Grove, MIAMI.
Listing courtesy of Beachfront Realty Inc. MLS# A11855344.
Listing information is provided by the MLS and is deemed reliable but not guaranteed.
Listed November 4, 2026.
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