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$1,250,000
Plantation Key, FL 33070
MLS# 619562
4 beds | 2 baths | 1500 sqft
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Property Description
This could be the kind of peaceful waterfront Keys property that actually pays you back. Located in one of the Upper Keys' most beloved neighborhoods locally known as 'Indian Mound' this canal-front duplex blends Old Florida charm with solid construction and real future potential. Water access is a big deal in the Keys, and it's excellent here. With 32' of dockage on a 100' wide turning basin, you'll have quick, easy access to the bay. Tavernier Creek is just around the corner, making ocean runs simple. Built in 1959, the concrete two-unit home features terrazzo floors and unique accent walls that give it that classic Old Florida feel. Each unit offers 2 bedrooms and 1 bath. Both are leased month-to-month to long-term tenants. The home is protected by a 5V-crimp Galvalume metal roof and cooled by two 2019 A/C systems. It sits on an oversized 10,000 sq ft lot with mature trees and buried power lines. Recognized as a duplex by the Village of Islamorada, this property offers compelling redevelopment options. An owner could convert the duplex into a single-family home, creating a valuable market-rate waterfront Transferable Development Right (TDR) to sell. Or, continue operating the duplex as a solid income-producing property in a quiet, highly desirable neighborhood. Old Florida character, dependable income, and flexibility for the future - this is a smart fit for someone who values both lifestyle and return. Vacant 7,023 sq ft lot next door is available separately. *Buyers should confirm all redevelopment options with the Village of Islamorada Planning Department*
Details
Maps
Contract Information
Listing Board: Florida Keys
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Current Price: $1,250,000
Listing Date: 2026-04-18
List Price: $1,250,000
Location, Tax & Legal
City: ISLAMORADA
Mile Marker: 89
Marathon Neighborhood: N/A
Side: Bay/Gulf
Flood Zone: AE,AE
Alternate Key #: 1522414
Handicap Access: No
Parcel #: 00424390-000000
Zoning: R1 - Residential Single Family
Deed Restrictions: No
Legal: BK 6 LT 19 AND PT LT 18 INDIAN WATERWAYS PB4-29 PLANTATION KEY
Taxes: 8424.51
Tax Year: 2025
Pub Sewer HkUp: Yes
Street #: 230
Street Name: Apache
Street Suffix: Street
Key/Island: Plantation Key
State/Province: FL
Zip Code: 33070
County: Monroe
Subdivision: Indian Waterways (89.0)
Area: 25 - Plantation Key
General Property Description
Realtor.COM Type: Multi-family
Waterfront: Yes
Control Depth: 3
Lot Size: X
Lot SqFt: 10560
Pool: No
Lot Sqft Source: Survey
Total Units: 0
Acres: 0.24
SqFt Source: Tax Records
Rentals Allowed: With Restrictions
Min Rental Days: 28
Style: Duplex
Year Built: 1959
Living Apx SqFt: 1500
Total Bedrooms: 4
Full Baths: 2
Total Baths: 2
Remarks & Misc
Remarks – Consumer: This could be the kind of peaceful waterfront Keys property that actually pays you back. Located in one of the Upper Keys' most beloved neighborhoods locally known as 'Indian Mound' this canal-front duplex blends Old Florida charm with solid construction and real future potential. Water access is a big deal in the Keys, and it's excellent here. With 32' of dockage on a 100' wide turning basin, you'll have quick, easy access to the bay. Tavernier Creek is just around the corner, making ocean runs simple. Built in 1959, the concrete two-unit home features terrazzo floors and unique accent walls that give it that classic Old Florida feel. Each unit offers 2 bedrooms and 1 bath. Both are leased month-to-month to long-term tenants. The home is protected by a 5V-crimp Galvalume metal roof and cooled by two 2019 A/C systems. It sits on an oversized 10,000 sq ft lot with mature trees and buried power lines. Recognized as a duplex by the Village of Islamorada, this property offers compelling redevelopment options. An owner could convert the duplex into a single-family home, creating a valuable market-rate waterfront Transferable Development Right (TDR) to sell. Or, continue operating the duplex as a solid income-producing property in a quiet, highly desirable neighborhood. Old Florida character, dependable income, and flexibility for the future - this is a smart fit for someone who values both lifestyle and return. Vacant 7,023 sq ft lot next door is available separately. *Buyers should confirm all redevelopment options with the Village of Islamorada Planning Department*
Association Info
Mandatory Home Owners Asc: No
Voluntary Home Owners Asc: Yes
1st Right of Refusal: No
Association Fee $: 200
Assoc/Mnt Fee Per: Yearly
Fee Includes
Common Area Mnt: 1
Dockage
Dock Length: 32
Dock: Concrete
Seawall: Concrete
Tax Exemptions
None: 1
Appliances
Dryer: 1
Range: 1
Refrigerator: 1
Washer: 1
Pets
Pets Allowed: 1
Cooling
Central Air: 1
Heating
Central: 1
Waterfront
Canal Front: 1
Waterview
Canal View: 1
Floor
Terrazzo: 1
Neighborhood Feature
Community Boat Ramp: 1
Other Area Features: 1
Building Style
Above Flood: No
Windows/Doors
Aluminum Windows: 1
Impact Rstnce Doors: 1
Jalousie Windows: 1
Other Windows/Doors: 1
Vehicle Storage
Open Parking: 1
Off Street Parking: 1
Security
No Security: 1
Construction
CBS: 1
Concrete: 1
Land Size
Less Than 1/4 Acre: 1
Furnished
Unfurnished: 1
Utilities
FKAA: 1
Municipal Sewer: 1
Porch/Balcony
Patio: 1
Roof
Metal Roof: 1
Financial Status
Auction: No
Bank Owned: No
Potential Short Sale: No
Standard Sale: Yes
Shutters
Bahama: 1
Panel: 1
Status Change Info
Status: Active
Property Features
Fee Includes: Common Area Mnt
Tax Exemptions: None
Waterfront: Canal Front
Waterview: Canal View
Vehicle Storage: Off Street Parking; Open Parking
Furnished: Unfurnished
Cooling: Central Air
Heating: Central
Utilities: FKAA; Municipal Sewer
Appliances: Dryer; Range; Refrigerator; Washer
Construction: CBS; Concrete
Shutters: Bahama; Panel
Floor: Terrazzo
Roof: Metal Roof
Pets: Pets Allowed
Neighborhood Feature: Community Boat Ramp; Other Area Features
Security: No Security
Land Size: Less Than 1/4 Acre
Listing Office: Coldwell Banker Schmitt Islamorada
Last Updated: April - 19 - 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.