Villaharbour Apartments

Common name: Villaharbour, also written Villa Harbour. The recorded condominium name is Villaharbour Apts Condo.

Building type: Bayfront condominium, concrete block construction

Floors: Two

Unit sizes: About 1,400 to 2,200 square feet, mostly three-bedroom.

Amenities: Pool, barbecue and picnic area, community boat dock, a small beach, guest parking.

Parking: One assigned space per residence, with guest parking and golf-cart parking

Source: The Roebling Research Desk.

The building has 17 residences, built in 1969, on a bay parcel with its own dock and pool. Residences run roughly 1,400 to 2,200 square feet.

The building is two floors, and its residences are low-rise, two-level homes; at least one, in the 4B line, is classed as a townhouse. Get the declaration, the floor count and the unit count from the association.

Key Biscayne is a barrier island village south of Virginia Key, reached by the Rickenbacker Causeway and Crandon Boulevard. Crandon Park and its beach take up much of the northern half of the island, and Bill Baggs Cape Florida State Park is at the southern tip. The Village Green and the main retail and dining streets are in the center of the island. Brickell and Downtown Miami are about 15 minutes by car, depending on traffic.

Harbor Drive runs along the bay side. Villaharbour has water frontage on the bay, a community dock and salt-water access; ask about restrictions on the dock and boat size. The property is in flood zone AE; get an insurance quote before pricing.

The building is concrete block construction from 1969. Published floor plans run from about 1,400 to 2,200 square feet, most with three bedrooms. Some residences are split-level, with the primary bedroom upstairs.

Check renovation, window and balcony work against association approvals.

Dues cover the building exterior, insurance, landscaping, pool service, recreation facilities, sewer and trash. There is no doorman or concierge.

Standard asks for any Florida condominium purchase: the current budget and financial statements, the structural integrity reserve study (SIRS) and reserve funding, and milestone inspection status. Florida's milestone inspection and structural integrity reserve study rules apply to condominium buildings of three or more stories; this building has two, so ask whether the building falls under the rules. Ask for any inspection report, any repairs it required, and any assessments. Ask for the master insurance policy, including windstorm and flood.

Policies, fees and applications, including pets, leasing, minimum lease terms, guest rules and any resale approval, are set by the association and should be confirmed at offer stage.

One recorded sale, June 2023, at $2.475 million. It is one sale, not a building price. The median assessed value is about $2.54 million and is an assessed value, not a market price. Compare size, floor, bay exposure and renovation.

Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.

Confirm the building facts first. Take the floor count, unit count and what the association owns from the declaration, not from listings.

Read the inspection and reserve documents. Request the milestone inspection report, SIRS, budget, financial statements and any pending assessments.

Price the flood zone. Ask for the master policy and the flood coverage.

Document renovations and approvals. Association approvals and permits document the work.

Have the inspection documents ready. Milestone, SIRS and budget shorten diligence.

• The Towers of Key Biscayne — a 1971 condominium of two buildings at 1111 and 1121 Crandon Boulevard.
• Oceana Key Biscayne — an oceanfront condominium on Ocean Drive.
• The Pyramids — a 1991 condominium at 50 Ocean Lane Drive.