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2 Beds
2 Baths
772 sqft

$859,900

1500 Ocean Bay Drive C4, Key Largo FL, 33037

Price per sqft$1,113.86
Built in1975
Property size772 sqft
Property typeTownhomes

Overview

Active

Listed Nov 10, 2026

Updated 33h ago

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

$5,721/mo

Est. mortgage payment based on a $859,900 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
622025

Interior Features

Bedrooms
2
Bathrooms
2
Cooling
Yes
Heating
Yes
Basement
No

Other Property Details

Taxes
$4,210
Tax Frequency
Annually
Association Fee Frequency
Monthly
Maintenance Expense
$385
View
Yes
Pets Allowed
Yes
Pool
Yes
MLS provider logo

Listed by Diana Valbuena with Pedrin of Miami Realty, Inc.
Listing Contact: 305-721-5775 

The IDX display contains information sourced from the Florida Keys Board of REALTORS® as of 11/11/2026. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

©2026 Florida Keys Board of REALTORS® all rights reserved.

Data last updated on 11/11/2026 at 3:23 AM UTC

 

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