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$1,200,000
Marathon, FL 33050
MLS# 621548
4 beds | 4 baths | 1888 sqft
1 / 54
Property Description
Duplex opportunity in the heart of Marathon with two legal addresses: 10881 7th Avenue Gulf and 10883 7th Avenue Gulf. This updated DUPLEX offers excellent flexibility for investors, owner occupants, or those looking to live in one unit and rent the other. The first floor residence features 3 bedrooms, 2.5 baths, a private entrance, its own patio area, separate laundry, and separate electric and water meters. It is currently rented for $3,700/month on a month to month basis, with the tenant open to a one year lease. The second floor unit offers 1 bedroom, 1 bath, its own private staircase and entrance, a dedicated outdoor sitting area, separate laundry, and separate utility meters. The upstairs unit is currently vacant and was most recently rented for $3,000/month, providing demonstrated combined rental potential of approximately $6,700/month or $80,400 annually. The property has been renovated and updated and offers exceptional parking for 5+ vehicles, with ample room for cars, boats, trailers and more. Adding even more value, approved plans convey with the sale for a substantial two-story garage and storage building at the rear of the property. The approved design includes approximately 2,768 sq. ft. of enclosed space, with a 1,440 sq. ft. shared garage on the first floor and additional dedicated and shared storage areas, two bathrooms, and mechanical space upstairs. A rare opportunity to combine strong rental income, separate living spaces, extensive parking, and future garage/storage potential, all offered at $1,200,000.
Details
Maps
Documents
Contract Information
Listing Board: Marathon/Lower Keys
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Species List: No
Current Price: $1,200,000
Listing Date: 2026-10-08
List Price: $1,200,000
Location, Tax & Legal
City: MARATHON
Off Shore Island: No
Mile Marker: 53
Marathon Neighborhood: Marathon East - Gulf (Airport to Vaca)
Senior Community YN: No
Side: Bay/Gulf
Alternate Key #: 1412830
Add'l Parcel #1: 00335170-000100
Parcel #: 0033517-0000000
Zoning: RM - Residential Medium
Deed Restrictions: Unknown
Legal: BK 3 LT 6 LESS THE NORTH 34.85 FT OF THE EAST 35 FT & LESS SECOND FLOOR UNIT KEY COLONY SUBD 4 PB4-23 KEY VACA
Taxes: 6356.06
Tax Year: 2025
Pub Sewer HkUp: Yes
Street #: 10881
Street Name: 7th Avenue Gulf
Key/Island: Marathon
State/Province: FL
Zip Code: 33050
County: Monroe
Subdivision: Key Colony Sub (53.0)
Area: 15 - Sombrero Bch Rd to Vaca Cut Gulfside
General Property Description
Realtor.COM Type: Multi-family
Waterfront: No
Control Depth: 0
Lot Size: X
Lot SqFt: 9613
Pool: No
Lot Sqft Source: Property Data Card
Total Units: 2
Acres: 0.22
SqFt Source: Property Data Card
Rentals Allowed: With Restrictions
Min Rental Days: 7
Style: Duplex
Year Built: 1973
Living Apx SqFt: 1888
Total Bedrooms: 4
Full Baths: 3
Half Baths: 1
Total Baths: 4
Remarks & Misc
Remarks – Consumer: Duplex opportunity in the heart of Marathon with two legal addresses: 10881 7th Avenue Gulf and 10883 7th Avenue Gulf. This updated DUPLEX offers excellent flexibility for investors, owner occupants, or those looking to live in one unit and rent the other. The first floor residence features 3 bedrooms, 2.5 baths, a private entrance, its own patio area, separate laundry, and separate electric and water meters. It is currently rented for $3,700/month on a month to month basis, with the tenant open to a one year lease. The second floor unit offers 1 bedroom, 1 bath, its own private staircase and entrance, a dedicated outdoor sitting area, separate laundry, and separate utility meters. The upstairs unit is currently vacant and was most recently rented for $3,000/month, providing demonstrated combined rental potential of approximately $6,700/month or $80,400 annually.
The property has been renovated and updated and offers exceptional parking for 5+ vehicles, with ample room for cars, boats, trailers and more.
Adding even more value, approved plans convey with the sale for a substantial two-story garage and storage building at the rear of the property. The approved design includes approximately 2,768 sq. ft. of enclosed space, with a 1,440 sq. ft. shared garage on the first floor and additional dedicated and shared storage areas, two bathrooms, and mechanical space upstairs.
A rare opportunity to combine strong rental income, separate living spaces, extensive parking, and future garage/storage potential, all offered at $1,200,000.
Directions: From US-1, turn onto 107th Street Gulf. Continue toward the Gulf, then turn onto 7th Avenue Gulf. Property is located at 10881 & 10883 7th Avenue Gulf.
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Association Fee $: 0
Fee Includes
None: 1
Dockage
None: 1
Tax Exemptions
None: 1
Appliances
Dishwasher: 1
Dryer: 1
Freezer: 1
Microwave: 1
Oven: 1
Range: 1
Refrigerator: 1
Washer: 1
Pets
Pets Allowed: 1
Cooling
Central Air: 1
Waterfront
None: 1
Waterview
Open Water View: 1
Floor
Vinyl: 1
Interior Features
Built-in Cabinets: 1
Storage: 1
Walk-in Closet(s): 1
Property Condition
Updated/Remodeled: 1
Building Style
Above Flood: Unknown
Vehicle Storage
Car(s): 4+
Off Street Parking: 1
Trailer Storage: 1
Construction
CBS: 1
Land Size
Less Than 1/4 Acre: 1
Furnished
Unfurnished: 1
Utilities
Buyer to Verify: 1
Cable Available: 1
Elect Separate Meter: 1
FKAA: 1
Municipal Sewer: 1
Water Separate Meter: 1
Title
Title Ins - Buyer: 1
Exterior Features
Storage: 1
Financial Status
Auction: No
Bank Owned: No
Potential Short Sale: No
Standard Sale: Yes
Status Change Info
Status: Active
Property Features
Fee Includes: None
Tax Exemptions: None
Waterfront: None
Waterview: Open Water View
Dockage: None
Property Condition: Updated/Remodeled
Vehicle Storage: Off Street Parking; Trailer Storage
Furnished: Unfurnished
Cooling: Central Air
Utilities: Buyer to Verify; Cable Available; Elect Separate Meter; FKAA; Municipal Sewer; Water Separate Meter
Interior Features: Built-in Cabinets; Storage; Walk-in Closet(s)
Appliances: Dishwasher; Dryer; Freezer; Microwave; Oven; Range; Refrigerator; Washer
Exterior Features: Storage
Construction: CBS
Floor: Vinyl
Pets: Pets Allowed
Land Size: Less Than 1/4 Acre
Title: Title Ins - Buyer
Survey 10881 & 10883 7th Avenue Gulf MTH 
Listing Office: Coldwell Banker Schmitt Real Estate Co.
Last Updated: October - 08 - 2026
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.