A three-bedroom pool home on a 10,000-square-foot corner lot in South Gables has sold for $2.14 million, adding another multimillion-dollar residential transaction to the Coral Gables real estate market.
The property at 5111 Maggiore Street, Coral Gables, is located at the corner of Maggiore Street and Castania Avenue in the South Gables neighborhood. The Oscar Arellano Team represented both the buyer and seller in the transaction.
The 3-bedroom, 2-bathroom residence combines traditional Coral Gables character with a sizable lot and potential for future renovation or redevelopment. Features of the property include original hardwood floors, mostly impact windows, a two-car garage and a private swimming pool.
Mature oak trees frame the property and contribute to the established residential character of the surrounding neighborhood. The corner lot also provides substantial outdoor space around the existing residence and pool.
Location Adds to South Gables Appeal
Location was among the property’s notable attributes. The home sits just one street from the new Maggiore Park and is within convenient reach of South Miami, schools, shopping, restaurants and other Coral Gables amenities.
The surrounding area includes a mix of longtime Coral Gables residences, renovated properties and newly constructed homes. Several newer residences are being developed along Castania Avenue and nearby streets, reflecting continued investment in this section of South Gables.
Large lots have become an important component of the residential market in established Coral Gables neighborhoods, particularly when properties offer buyers the flexibility to renovate an existing home or consider future construction.
At 5111 Maggiore Street, the 10,000-square-foot parcel provided several possibilities. A buyer could retain and update the existing pool home, undertake a more extensive renovation or potentially explore construction of a new residence, subject to applicable city zoning, permitting and development requirements.
Buyer and Seller Represented by Same Team
The Oscar Arellano Team represented both sides of the $2.14 million sale, working with both the buyer and seller through the closing of the transaction.
The sale underscores the continued value attached to location and land in South Gables, where established neighborhoods, proximity to parks and access to both Coral Gables and South Miami continue to attract residential buyers.
Property at a Glance
5111 Maggiore Street, Coral Gables
Sale Price: $2,140,000
Bedrooms: 3
Bathrooms: 2
Lot: 10,000 square feet
Features: Swimming pool, two-car garage, corner lot
Representation: Oscar Arellano Team represented buyer and seller
