How much do condos at 501 First Residences cost?

Units at 501 First Residences are listed from $355,000 to $995,000 right now, a median $1,124 per square foot. Over the last twelve months units closed at a median $380,500. Floor, view and renovation drive the spread; these figures refresh daily from the MLS.

What are the association fees at 501 First Residences?

The median association fee on current and recent listings at 501 First Residences is $775 a month. Fees vary by unit size and what the association covers, and older buildings may add special assessments for inspections and repairs, so we confirm the fee, the budget and any assessment for the specific unit.

Can I rent out a condo at 501 First Residences?

The 501 First Residences association decides: most South Florida condominiums set a minimum lease term, limit how many times a year a unit may be leased and require tenant approval, and some require an owner to hold the unit for a period first. 26 units are listed for rent in the building right now, which shows leasing is possible; we read the current rules before you buy.

Are pets allowed at 501 First Residences?

Listings at 501 First Residences describe the pet policy as "Yes". Weight, breed and number limits are set by the association and can change, so we confirm the current rule for your pet before you offer or apply.

How do I see a unit at 501 First Residences?

Request a showing from any listing on this page, or ask a BreakThru agent to arrange a private tour of the units for sale or for rent at 501 First Residences. We also compare the building with similar Miami condominiums so you can see the choice side by side.

501 First Residences Condos for Sale & Rent in Miami

501 First Residences condos in Miami, FL: 40 for sale from $355,000, rentals, recent sales, price per square foot and association fees from live MLS data, updated daily.

501 First Residences at a Glance

Address	121 5TH ST / 121 5 ST
Year built	2025 (new construction)
Units for sale	40
Asking prices	$355,000 – $995,000
Median asking price per sq ft	$1,124/sq ft
Median association fee	$775/mo
Units for rent	26
Median asking rent	$3,300/mo
Sold in the last 12 months	2
Median sold price	$380,500
Sale price as % of list	94%
Water frontage	Bayfront
Pet policy (per listings)	Yes

Source: BeachesMLS, every listing at the building's address; figures refresh daily. Not an appraisal.

About 501 First Residences

501 First Residences is a condominium in Miami. Its addresses are 121 5th Street and 121 5 Street, completed in 2025 according to the MLS. Listings describe its water frontage as bayfront. This page gathers every unit the MLS shows at the building's address: the ones for sale, the rentals and the closings of the last twelve months.

501 First Residences Condos for Sale

40 units are for sale at 501 First Residences right now, from $355,000 to $995,000, at a median $1,124 per square foot, with 0 to 2 bedrooms. The median association fee on these listings is $775 a month; what it covers differs by building, so confirm it for the unit.

Recent Sales and Rentals at 501 First Residences

2 units closed in the last twelve months at a median $380,500 ($854 per square foot), at 94% of the asking price after 96 days on market. 26 units are for rent at a median $3,300 a month; the association sets the minimum lease term and the approval process.

Before You Buy at 501 First Residences

Florida requires milestone structural inspections and fully funded structural reserves for condominium buildings three stories and taller, so the building's inspection reports, its reserve study, the current budget and any special assessment matter as much as the unit. We also read the rules on leasing, pets, renovations and the association's approval process, and check the insurance and the flood zone, before you make an offer at 501 First Residences.

Units for Sale at 501 First Residences

Units for Rent at 501 First Residences

Recently Sold at 501 First Residences

501 First Residences: Frequently Asked Questions

How much do condos at 501 First Residences cost?: Units at 501 First Residences are listed from $355,000 to $995,000 right now, a median $1,124 per square foot. Over the last twelve months units closed at a median $380,500. Floor, view and renovation drive the spread; these figures refresh daily from the MLS.
What are the association fees at 501 First Residences?: The median association fee on current and recent listings at 501 First Residences is $775 a month. Fees vary by unit size and what the association covers, and older buildings may add special assessments for inspections and repairs, so we confirm the fee, the budget and any assessment for the specific unit.
Can I rent out a condo at 501 First Residences?: The 501 First Residences association decides: most South Florida condominiums set a minimum lease term, limit how many times a year a unit may be leased and require tenant approval, and some require an owner to hold the unit for a period first. 26 units are listed for rent in the building right now, which shows leasing is possible; we read the current rules before you buy.
Are pets allowed at 501 First Residences?: Listings at 501 First Residences describe the pet policy as "Yes". Weight, breed and number limits are set by the association and can change, so we confirm the current rule for your pet before you offer or apply.
How do I see a unit at 501 First Residences?: Request a showing from any listing on this page, or ask a BreakThru agent to arrange a private tour of the units for sale or for rent at 501 First Residences. We also compare the building with similar Miami condominiums so you can see the choice side by side.