1500 Ocean Bay DR C4, Key Largo, FL 33037
1500 Ocean Bay DR C4, Key Largo, FL 33037
1500 Ocean Bay DR C4, Key Largo, FL 33037
1500 Ocean Bay DR C4, Key Largo, FL 33037
1500 Ocean Bay DR C4, Key Largo, FL 33037
1500 Ocean Bay DR C4, Key Largo, FL 33037
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Ernesto Portuondo

Ernesto Portuondo

+1(305) 336-8874
Listed by Diana Valbuena Pedrin of Miami Realty, Inc.
$ 859,900
Est. payment | /mo

2 Beds

2 Baths

772 SqFt

Save
$ 859,900
Est. payment | /mo
Save

2 Beds

2 Baths

772 SqFt

Key Details

Property Type Townhouse

Sub Type Townhouse

Listing Status Active

Purchase Type For Sale

Square Footage 772 sqft

Price per Sqft $1,113

Subdivision Kawama Yacht Club (100.0)

MLS Listing ID 622025

Style Above Flood,Townhouse

Bedrooms 2

Full Baths 2

HOA Fees $854/mo

HOA Y/N Yes

Year Built 1975

Annual Tax Amount $4,210

Tax Year 2025

Lot Dimensions X

Property Sub-Type Townhouse

Land Area 772

Property Description

Owner is the listing agent. Fully remodeled 2 bed, 2 bath condo directly on the lagoon at Kawama Yacht Club in Key Largo, with great water views from the unit. Being sold turnkey, so the next owner can keep renting from day one without having to furnish, equip, or set up anything. This is an established short-term vacation rental with strong guest reviews and a proven income history: approximately $105,000 in rental revenue in 2024, $103,000 in 2025, and $90,000 so far in 2026. Future bookings are already paid and on the calendar, so income continues after closing. The consistent results over three years show this is not a one-season success but a property that performs year after year.

Location is a big part of what makes this unit work. Key Largo is the first stop in the Florida Keys and an easy drive from Miami, making it a popular getaway for South Florida visitors and travelers from out of state. Guests come for the water, diving, snorkeling, fishing, and boating, and John Pennekamp Coral Reef State Park is close by. Waterfront condos with this kind of track record are not easy to find in the Upper Keys.

The seller has been a Key Largo real estate investor for over 12 years and will personally help the buyer set up rental platforms and transition existing reservations so there is no gap in bookings. For a new investor, that guidance can save months of trial and error. For an experienced investor, it means a smooth handoff and immediate cash flow.

An ideal opportunity for an investor looking for a proven, income-producing property on the water, or a second-home buyer who wants to enjoy the Keys and let the rental help cover ownership costs. Income documentation available to qualified buyers upon request. Buyer to verify all rental regulations and association rules

Location

State FL

County Monroe

Community Community Dockage, Community Boat Ramp, Beach, Tennis Court(S), Pool

Area 27 - Key Largo Mm 97-107

Zoning SF - Single Family

Interior

Interior Features Walk-in Closet(s), Quartz Countertops, Smoke Alarms, Smart Thermostat

Heating Hot Water, Central

Cooling Central Air

Flooring Vinyl

Furnishings Furnished

Window Features Drapes/Blinds Incl,Casement,Double Hung Windows,Shutters

Appliance Dryer, Washer, Microwave, Oven, Wine Cooler, Stainless Steel Appliance(s), Refrigerator

Laundry Laundry Room

Exterior

Pool Heated

Community Features Community Dockage, Community Boat Ramp, Beach, Tennis Court(s), Pool

Utilities Available Cable Available

Waterfront Description Oceanfront

Roof Type Metal Roof

Porch Open Porch/Balcony, Deck, Screened

Garage No

Private Pool Yes

Building

Architectural Style Above Flood, Townhouse

Others

HOA Fee Include Cable TV

Tax ID 00090491-000304

Security Features Manned Gate,Patrolled Area

Acceptable Financing Cash

Listing Terms Cash

Pets Allowed Yes

Nearby Locations