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$1,550,000
Marathon, FL 33050
MLS# 619018
5 beds | 3 baths | 2918 sqft
1 / 85
Open House (03/13/2026 - 10:00 am - 12:00 pm)
Property Description
Rare opportunity to own a legal duplex being sold as A Single Family Home in the heart of Key Colony Beach in the beautiful Florida Keys. Located just one street off the Atlantic Ocean, 340-350 E Ocean Drive offers exceptional space, boating access, and an amazing investment opportunity with flexibility at a competitive price designed to sell. With 5 bedrooms, 3 bathrooms, and over 2,900 sq ft of living space, this property provides the rare opportunity to own a large waterfront home while still benefiting from the layout of a legal duplex. Sold together as a single property, it offers incredible versatility for full-time living, vacation use, or income-producing investment. Boaters will appreciate 50 feet of dockage with dual docks, allowing space for multiple vessels and providing a quick, easy ride to the open Atlantic for world-class fishing and boating. The 340 E Ocean Drive side features towering ceilings and dramatic floor-to-ceiling windows, filling the home with natural light while showcasing beautiful canal views from multiple areas. This side includes 3 bedrooms, 2 bathrooms, and a private balcony to enjoy the coastal breeze. The 350 E Ocean Drive side offers 2 bedrooms and 1 bathroom, along with its own private balcony overlooking the canal, the perfect spot to enjoy a morning coffee or evening sunset. Enjoy both ocean and canal views from this prime location just steps from the Atlantic. With a proven rental history, this property offers outstanding flexibility. Owners have the flexibility to live in one side and rent the other or rent both for maximum income potential. Updates include; •Impact windows and doors (2021) •5V Metal Crimp Roof (2021) •AC ( 2021 & 2023) •New Dock Posts (2024) Competitively priced and offering size, dockage, and location, this is a standout opportunity to own a versatile waterfront property in Key Colony Beach. Call Today!
Details
Maps
Contract Information
Listing Board: Marathon/Lower Keys
Current Price: $1,550,000
Listing Date: 2026-03-11
List Price: $1,550,000
Location, Tax & Legal
City: MARATHON
Mile Marker: 53.5
Marathon Neighborhood: Marathon East - Gulf (Airport to Vaca)
Side: Ocean
Alternate Key #: 1077186
Zoning: RM-2 - Residential Medium - 2
Deed Restrictions: Unknown
Legal: BK 3 LT 45 KEY COLONY BEACH PB3-120 SHELTER KEY
Taxes: 9835.95
Tax Year: 2025
Pub Sewer HkUp: Yes
Street #: 340-350
Direction: E
Street Name: Ocean
Street Suffix: Drive
Key/Island: Marathon
State/Province: FL
Zip Code: 33050
County: Monroe
Subdivision: Key Colony Bch Yacht (53.5)
Area: 17 - Vaca Cut - Both Sides Holiday Inn/Key Colony
General Property Description
Realtor.COM Type: Residential - Single Family
Waterfront: Yes
Control Depth: 5
Lot SqFt: 5859
Pool: No
SqFt Source: Tax Records
Rentals Allowed: Yes
Min Rental Days: 7
Style: Single Family
Year Built: 1986
Living Apx SqFt: 2918
Total Bedrooms: 5
Full Baths: 3
Total Baths: 3
Remarks & Misc
Remarks – Consumer: Rare opportunity to own a legal duplex being sold as A Single Family Home in the heart of Key Colony Beach in the beautiful Florida Keys. Located just one street off the Atlantic Ocean, 340-350 E Ocean Drive offers exceptional space, boating access, and an amazing investment opportunity with flexibility at a competitive price designed to sell.
With 5 bedrooms, 3 bathrooms, and over 2,900 sq ft of living space, this property provides the rare opportunity to own a large waterfront home while still benefiting from the layout of a legal duplex. Sold together as a single property, it offers incredible versatility for full-time living, vacation use, or income-producing investment.
Boaters will appreciate 50 feet of dockage with dual docks, allowing space for multiple vessels and providing a quick, easy ride to the open Atlantic for world-class fishing and boating.
The 340 E Ocean Drive side features towering ceilings and dramatic floor-to-ceiling windows, filling the home with natural light while showcasing beautiful canal views from multiple areas. This side includes 3 bedrooms, 2 bathrooms, and a private balcony to enjoy the coastal breeze.
The 350 E Ocean Drive side offers 2 bedrooms and 1 bathroom, along with its own private balcony overlooking the canal, the perfect spot to enjoy a morning coffee or evening sunset.
Enjoy both ocean and canal views from this prime location just steps from the Atlantic. With a proven rental history, this property offers outstanding flexibility. Owners have the flexibility to live in one side and rent the other or rent both for maximum income potential.
Updates include;
•Impact windows and doors (2021)
•5V Metal Crimp Roof (2021)
•AC ( 2021 & 2023)
•New Dock Posts (2024)
Competitively priced and offering size, dockage, and location, this is a standout opportunity to own a versatile waterfront property in Key Colony Beach.
Call Today!
Directions: US 1 TO SADOWSKI CSWY TO EAST OCEAN DR
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Association Fee $: 0
Fee Includes
None: 1
Dockage
Dock Length: 50
Dock: Wood
Other Dockage: 1
Tax Exemptions
None: 1
Appliances
Dishwasher: 1
Dryer: 1
Microwave: 1
Oven: 1
Refrigerator: 1
Washer: 1
Pets
Pets Allowed: 1
Cooling
Central Air: 1
Heating
Forced Air: 1
Waterfront
Canal Front: 1
Waterview
Canal View: 1
Floor
Vinyl: 1
Neighborhood Feature
Beach: 1
Bike Paths: 1
Tennis Courts: 1
Interior Features
Built-in Cabinets: 1
Cathedral Ceilings: 1
Storage: 1
Window Treatments: 1
Specialty Rooms
Utility Room: 1
Building Style
Above Flood: Unknown
Stilt Column Height: Medium - 5Ft - 9Ft
Windows/Doors
Impact Rstnce Doors: 1
Impact Rstnce Window: 1
Vehicle Storage
Car(s): 4+
Open Parking: 1
Construction
Frame: 1
Land Size
Less Than 1/4 Acre: 1
Furnished
Furnished: 1
Terms
Cash: 1
Conventional: 1
Utilities
FKAA: 1
Sewer Available: 1
Porch/Balcony
Deck: 1
Open Porch/Balcony: 1
Title
Negotiable: 1
Exterior Features
Shed: 1
Storage: 1
Roof
Metal Roof: 1
Status Change Info
Status: Active
Property Features
Fee Includes: None
Tax Exemptions: None
Waterfront: Canal Front
Waterview: Canal View
Dockage: Other Dockage
Vehicle Storage: Open Parking
Furnished: Furnished
Cooling: Central Air
Heating: Forced Air
Utilities: FKAA; Sewer Available
Interior Features: Built-in Cabinets; Cathedral Ceilings; Storage; Window Treatments
Specialty Rooms: Utility Room
Appliances: Dishwasher; Dryer; Microwave; Oven; Refrigerator; Washer
Exterior Features: Shed; Storage
Construction: Frame
Floor: Vinyl
Roof: Metal Roof
Pets: Pets Allowed
Neighborhood Feature: Beach; Bike Paths; Tennis Courts
Land Size: Less Than 1/4 Acre
Terms: Cash; Conventional
Title: Negotiable
Listing Office: Coldwell Banker Schmitt Real Estate Co.
Last Updated: March - 12 - 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.