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Monarc at Met 3 – The good, the bad and the ugly

Monarc at Met 3

Monarc at Met 3 ist a downtown Miami rental apartment building.

Opened in April of 2016 it is located just North of Brickell Avenue allowing easy access to Brickell Ave to the South, Downtown Miami to the North, the Port of Miami and Miami Beach. It is also just a short Drive from Midtown, the Design District, Coconut Grove and Coral Gables meaning you have access to all the Arts, Entertainment & Shopping you can find anywhere in the Greater Miami area.

As promised in the title, I want to tell you about the good, the bad and the ugly of this building.

First, let me start with the ugly. This is not a huge deal, but really bugs me, as I always find that developers cut corners to save a few dollars and as a result of doing so, put a damper on an otherwise great product.

So what’s the UGLY?

Carpet ! Yes, you heard right. The most dreaded word in Miami real estate. Everybody hates it.

For some reasons, while putting tile flooring throughout the units, the developers decided to carpet all the bedrooms. I am not certain if this is the case for the studios, but all 1bedroom and 2bedroom units have carpeted bedrooms.

Now for the BAD.

The only bad I can find in the building, is that the prices are slightly higher than other comparable units in the area. Now with that being said, in order to compare apples to apples, one has to look at the whole picture, i.e. not only the units, but also the location and the amenities of the building. I think that the amenities are superior to most buildings in this area / price range. The certainly beat the rental buildings I’ve seen by a long shot.

Here’s a pic of the pool area as seen from one of the 2 bedroom units.

monarc-at-met-3-pool-area-view

monarc-at-met-3-pool-area-view

It features plenty of space for lounging as well as bbq areas that can be emjoyed by residents and their guests.

The GOOD !

As usual, we save the best for last. What’s the good, you may ask ?

Well for one, while the rents might be slightly on the high side, move in costs, which can be quite substantial these days are very low. At the time of this writing they require the following move in fees:

  • $150 application fee / person
  • $350 admin fee
  • $500 security deposit

Compared to the usual last month + one month security plus admin fees this adds up to significant savings. Let’s look at an example of a 2 bd unit rented for $3000 month.

Move in cost for 2 people at Monarc at Met 3: $4150 (incl. 1st month rent)

Move in cost  for 2 people in a typical are building: ~ $9500 (first, last & security + typical application fees and move in fees)

That’s translates to upfront savings of more than $5000. This is great for people that have the required income to afford the monthly rent, but are low on savings, or just prefer to keep their savings rather than hand them over to their landlord.

Aside from that, I really like the location of the building. The fact that Whole Foods Market is located on the ground floor is a big plus in my book as well. Even though I’m not a raving whole foods fan, it is a big plus to be able to grab a quick bite or pick up some items for dinner without having to get in your car.

Last, but not least, the amenities of the building really speak for themselves.

monarc-at-met-3-common-area-kitchen

Common Area kitchen

monarc-at-met-3-computer-room

Computer room with Macs and PCs

monarc-at-met-3-pool-table

Pool Table

These are just a few impressions. If you want to see it all for yourselves, please don’t hesitate to contact me.

1 bedroom / 1 bathroom units start at ~2000 / month

2 bedroom / 2 bathroom units start at ~2800 month

I will set up the appointment for you and make sure you get the best deal possible in this building and of course my services are free of charge for tenants.

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