121 Florida Ave, Coral Gables, FL 33133

Classic Coral Gables Charm: A Value Opportunity in a Desirable Location!

Asking Price: $419,990

Seize a unique chance to own a piece of historic Coral Gables with this charming 3-bedroom, 1-bathroom single-family home at 121 Florida Ave, Coral Gables, FL 33133. Built in 1933, this 920 sqft residence offers an estimated refinance payment of $3,701/mo and sits on a 5,000 sqft lot (0.11 acres). While compact, its classic architecture and highly sought-after location present a compelling opportunity for a buyer seeking to invest in one of South Florida’s most prestigious cities.

Key Features:

• Historic Appeal & Potential: Built in 1933, this home embodies the classic architectural charm of Coral Gables. It presents a fantastic opportunity for renovation, allowing a buyer to modernize the interior while preserving its historic character and potentially adding significant value.
• Prime Coral Gables Location (33133 Zip Code): This property is nestled in a highly desirable area of Coral Gables, known for its beautiful tree-lined streets, Mediterranean Revival architecture, and lush landscapes.
  • Market Dynamics: A Buyer’s Market: Coral Gables, and specifically the 33133 zip code, is currently a Buyer’s Housing Market. This is a significant advantage for buyers, as there is more inventory than demand, leading to greater negotiation power.
    • The median listing home price in Coral Gables in May 2025 was $1.8M, flat year-over-year. However, the median sold price in 33133 was $1.6M, up 23.1% year-over-year. This seemingly contradictory data indicates a luxury market with high listing prices, but homes are selling for 5.49% to 6% below asking price on average in May 2025 across Coral Gables.
    • For 3-bedroom homes across Coral Gables, the median sold price was $1,400,000 as of February 2025. While this property’s price is significantly below this median, it’s important to note that many 3-bedroom homes in Coral Gables often feature multiple bathrooms and larger square footage. The listed price of $419,990 for a 3-bed, 1-bath home positions it as an exceptionally rare and affordable entry point into this high-demand city.
    • Homes in Coral Gables are selling after an average of 65-86 days on the market, which is up from last year, giving buyers more time to make informed decisions.
• Proximity to Urban Amenities & Natural Beauty:
  • Walkability/Bikeability: The property has a Walk Score of 46 (Car-Dependent) and a Bike Score of 57 (Bikeable), indicating some accessibility to amenities by non-vehicular means.
  • The “City Beautiful”: Coral Gables offers an unparalleled quality of life with attractions like:
    • Miracle Mile & Giralda Plaza: Premier destinations for dining, shopping, and entertainment.
    • Venetian Pool: A historic and unique freshwater pool with waterfalls and grottoes.
    • Fairchild Tropical Botanic Garden: World-renowned botanical garden.
    • Biltmore Hotel: Iconic historic hotel with golf, tennis, and fine dining.
    • Lowe Art Museum & Coral Gables Museum: Cultural institutions.
    • Parks & Green Spaces: Numerous parks, including Matheson Hammock Park & Marina.
  • Connectivity: Easy access to downtown Miami, Miami International Airport, and major roadways.
• Schools: Coral Gables boasts access to some of Miami-Dade County’s high-performing public schools, with most having A or B ratings.
  • Public Schools: Residents are served by Miami-Dade County Public Schools, including Coral Gables Senior High, George W. Carver Middle, and David Fairchild Elementary. Many schools in Coral Gables are known for strong academic programs and international studies.
  • Private Schools: A wide array of highly-regarded private schools are also available in the area, such as Gulliver Academy, Riviera Day School, and St. Theresa Catholic School.
• Investment Potential: Given the property’s very attractive price point relative to the highly exclusive Coral Gables market, it presents a compelling investment for a buyer willing to undertake renovations. The appreciation potential in this area is generally strong over the long term.

Important Considerations:

• Single Bathroom: The presence of only one bathroom for a 3-bedroom home might be a consideration for some buyers. This could also be an opportunity to add a second bathroom during renovation.
• Renovation Required: As a 1933 home at this price, it will undoubtedly require significant modernization and upgrades to systems and finishes. Buyers should budget accordingly for a comprehensive renovation.
• Cost of Living: While this home offers an affordable entry, the overall cost of living in Coral Gables is about 21% higher than the national average, primarily due to higher housing costs (despite this specific property being an exception).
• Flood Risk: Buyers in South Florida should always research flood zone designations for any property and consider flood insurance.

This charming historic home at 121 Florida Ave is a rare find in Coral Gables. It offers an unparalleled opportunity to live in a prestigious, amenity-rich city at an incredibly accessible price, for the buyer ready to embrace a renovation project and create their dream home.

Priced at $419,990 – step into the beauty and history of Coral Gables! Schedule your private showing today.