The Top 5 Reasons to Buy Real Estate in Cocoplum Coral Gables
The Investment Value of Cocoplum Coral Gables
I have memories of Cocoplum that date back as early as 10 years old. I was a Gables’ kid who had many friends that lived on the islands. We used to play basketball on those courts for hours and hours. I recently went to a brokers open at 145 Orquidea Ave and as I walked up the stairs to the front entrance, I could see straight into the courts. Reminiscing is always a fun exercise which led me into my next piece where I highlight the top 5 reasons to live in Cocoplum.
1. The Location of Cocoplum Coral Gables
Difficult to contend that Cocoplum is not the most perfectly situated community in Miami. It is tucked behind the Cartagena Circle or “Cocoplum Circle”, where Old Cutler Road, Sunset Drive and Le June Road meet. In less than 5 minutes you can be in: Downtown Coral Gables by means of Le June Rd North, South Miami eateries and shops through Sunset Dr. West or in the Village of Coconut Grove via Main Highway East.
In the course of the most recent years as the Miami real estate market has ascended back to promise, it has been clear that home purchasers have made buys in light of one vital component. “Where are my children going to school?” Cocoplum is minutes from the cities’ best private schools. This has been a major contributing factor to the attractive quality of South Gables, Coconut Grove and South Miami. Cocoplum offers the best location for dinning, entertainment, shopping, and schools.
2a. Cocoplum offers a waterfront location
The lavish section of Coral Gables sits in the center of Miami’s most desirable neighborhoods, right at the end of the South Gables waterways, where the canals meet the Biscayne Bay. As Miami continues to grow into a top 10 luxury market worldwide we are seeing a premium on homes that sit on the water. Indeed, even homes on the Gables waterways that are smaller and have considerably smaller lot sizes are selling at record breaking prices. In the most recent 6 months homes on the South Gables canals have sold at $695 per SF, these homes averaging around 4,000 SF in size.
Since a large portion of the homes in Cocoplum are on the water it is justifiable that this is the territory where those with deep pockets go looking. For boating enthusiasts there is no preferred prize over having your boat docked at home. Additionally, most Cocoplum homes on the water have 1 bridge to the bay and in some cases they have none. This is a positive factor and helps increase the value of properties. Many homes on the South Gables waterway have upwards of 3 bridges to the bay and could take up to 30-40 mins to get out to the open water.
2b. The Marina at Cocoplum Coral Gables
In the event that purchasing a home on the water in Cocoplum is not attainable then the consolation prize of owning an extensive extravagant dry lot home and keeping your vessel 90 seconds away at the Marina is not very shabby. Very few gated communities in Miami offer a marina on location.
The Cocoplum Yacht club is a members only marina that is on the East end of the Islands. There is a full administration and a dock master. The dock master, Captain Harry, has been at the Yacht club for more than 20 years. The associations charges that are paid by Phase 2 home owners are not contributed to the Marina. The yacht club is operated as a separate entity where owners of Phase 1 & 2 alike are welcomed to become members.
There are approx 200 slips at the Marina and they can accommodate vessels as large as 150 ft. For more info on the yacht club and marina: http://www.cocoplumyachtclub.com/
3. The Value of Cocoplum homes for sale
The secret is out and home buyers are catching on. With exquisite large homes between 2,800-11,500 SF on oversized lots that range from 12,000 to 50,000+ SF, Cocoplum has been under valued for a very long time. Over the last few years we have seen some high-end property flipping. Investors are buying low and remodeling, renovating or rebuilding to sell high. Considering all factors, if you have the vision and the budget to overhaul your house then you could take advantage of this upswing in values of Cocoplum homes.
As I recorded last week, older homes that have not been upgraded are being sold at a lower price per SF. You can at present exploit our current “buyers market” and strike a deal for a home with extraordinary potential. In the event that you buy a home anywhere from $475 per SF or less you can make modifications and repairs to improve this home. In the coming years, about 5 years from now, not far off, you will see a pleasant return in your investment.
Please see 140 Isla Dorada, this home was purchased in 2012. This waterfront property was bought for $520 per SF at $3.1M – in this market this house could be selling somewhere between $750-$850 per SF which is $4.4M – $5M. The picture here on the right is 140 Isla Dorada. Click on the link beneath the picture to see the before and after pics.
4. Amenities at Cocoplum Coral Gables
HOA charges are a feared cost for some property owners. Generally connected with an apartment building purchasers dependably ask, “where does this money go?” Short answer is mostly, “Maintenance and repairs“. Be that as it may, in Cocoplum it is anything but difficult to see what you get for your cash. The gated security is not extremely intimidating but the guards in Cocoplum are on watch. Cocoplum is not a private island as is Tahiti Beach, but the Phase 2 HOA assigned the security to monitor all visitors. The roads are calm and the area offers kids a protected neighborhood to play.
Among the amenities are: The clubhouse facilities that are situated by the pool and partitioned into 2 areas. Residents have admittance to a parlor at the bar and an outside porch or a more easy-going setting on the ground floor, where you will discover the wellness room and outside yard to the pool. Classes are offered for occupants at the wellness club. Swimming teachers at the pool are accessible for private lessons. Likewise, situated beside the clubhouse is a play area for kids and a full size basketball court and additionally 8 Hydro Clay Tennis Courts, of which 4 are lit for use at night time.
Cocoplum offers all the bells an whistles you can expect for a gated community
5. The Cocoplum Community
It is noticeable that for the better part of 2 decades the same people have been living in Cocoplum. Many are empty nesters who now are in the midst of downsizing. One of the things you will notice is that in the last 2 years the neighborhood dynamics are changing. There is an influx of younger families moving to the islands. There is a big generational shift happening and you are seeing more and more families with small children.
The community of homeowners in Cocoplum are a special group of business owners, doctors, lawyers, philanthropists and many other respectable callings.
- 85% of the homes are owner occupied households
- 89% of the population is married
- 77% are college educated
- $175,000 median income