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$1,848,000
Key Colony, FL 33051
MLS# 615206
6 beds | 4 baths | 2528 sqft
1 / 71
Property Description
Capitalize on proven income and flexibility with this fully furnished, turnkey waterfront duplex generating approx. $100K/year in rental income! Built above flood for added peace of mind and potential insurance savings, this well-established (for 10+ years) vacation rental features two spacious 3BD/2BA units with private entrances and parking. Enjoy 60 ft. of deep-water dockage on a wide canal with immediate ocean access, plus two private waterfront outdoor living spaces framed by lush tropical landscaping and privacy fencing between. Whether you rent both units, live in one and rent the other or enjoy as a multi-family retreat, this property offers unmatched versatility at a price point well below comparable 6-bedroom waterfront single-family homes in Key Colony Beach. Just ¼ mile from the Cabana Club and close to beaches, dining, and shopping--ready for immediate use or continued rental success!
Details
Maps
Documents
Contract Information
Listing Board: Marathon/Lower Keys
As is Rght to Inspct: Yes
Species List: No
Current Price: $1,848,000
Listing Date: 2025-05-28
List Price: $1,848,000
Location, Tax & Legal
City: KEY COLONY
Off Shore Island: No
Mile Marker: 53.5
Marathon Neighborhood: Marathon East - Gulf (Airport to Vaca)
Side: Ocean
Flood Zone: AE
Alternate Key #: 1076902
Add'l Parcel #1: 00072850-000100
Parcel #: 00072850-000000
Zoning: R-2A - Key Colony Two Family
Deed Restrictions: Unknown
Legal: BK 3 S 1/2 LOT 19 KEY COLONY BEACH PB3-120 SHELTER KEY OR318-468/69 OR354-87/88 OR635-14/15 OR871-1174 OR913-985 OR1398
Taxes: 6941.18
Tax Year: 2024
Pub Sewer HkUp: Yes
Street #: 461 & 471
Street Name: 3rd
Street Suffix: Street
Key/Island: Key Colony
State/Province: FL
Zip Code: 33051
County: Monroe
Subdivision: Key Colony Beach (53.5)
Area: 17 - Vaca Cut - Both Sides Holiday Inn/Key Colony
General Property Description
Realtor.COM Type: Multi-family
Waterfront: Yes
Control Depth: 5
Lot SqFt: 6672
Pool: No
Lot Sqft Source: Property Data Card
Total Units: 2
Acres: 0.16
SqFt Source: Property Data Card
Rentals Allowed: Yes
Min Rental Days: 7
Style: Duplex
Year Built: 1997
Living Apx SqFt: 2528
Total Bedrooms: 6
Full Baths: 4
Total Baths: 4
Remarks & Misc
Remarks – Consumer: Capitalize on proven income and flexibility with this fully furnished, turnkey waterfront duplex generating approx. $100K/year in rental income! Built above flood for added peace of mind and potential insurance savings, this well-established (for 10+ years) vacation rental features two spacious 3BD/2BA units with private entrances and parking. Enjoy 60 ft. of deep-water dockage on a wide canal with immediate ocean access, plus two private waterfront outdoor living spaces framed by lush tropical landscaping and privacy fencing between. Whether you rent both units, live in one and rent the other or enjoy as a multi-family retreat, this property offers unmatched versatility at a price point well below comparable 6-bedroom waterfront single-family homes in Key Colony Beach. Just ¼ mile from the Cabana Club and close to beaches, dining, and shopping--ready for immediate use or continued rental success!
Directions: Take Sadowski Causeway, make a left onto E Ocean Dr. Turn left onto 3rd st. Home is on the left
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Association Fee $: 0
License Info
# of City License: 2
Fee Includes
None: 1
Dockage
Dock Length: 60
Dock: Concrete
Tax Exemptions
None: 1
Appliances
Dishwasher: 1
Dryer: 1
Microwave: 1
Oven: 1
Range: 1
Refrigerator: 1
Stainless Steel Appliance(s): 1
Washer: 1
Pets
Pets Allowed: 1
Cooling
Ceiling Fans(s): 1
Central Air: 1
Waterfront
Canal Front: 1
Waterview
Canal View: 1
Floor
Tile: 1
Neighborhood Feature
Beach: 1
Bike Paths: 1
Tennis Courts: 1
Interior Features
Drapes/Blinds Incl: 1
Smoke Alarms: 1
Storage: 1
Window Treatments: 1
Building Style
Above Flood: Yes
Windows/Doors
Single Hung Windows: 1
Sliding Glass Doors: 1
Vehicle Storage
Car(s): 4+
RV Parking Open: 1
Trailer Storage: 1
Security
Patrolled Area: 1
Construction
CBS: 1
Land Size
Less Than 1/4 Acre: 1
Furnished
Furnished: 1
Terms
Cash: 1
Conventional: 1
FHA: 1
VA: 1
Utilities
Cable Available: 1
Community Swr Plant: 1
Elect Separate Meter: 1
FKAA: 1
Municipal Sewer: 1
Water Separate Meter: 1
Title
Negotiable: 1
Exterior Features
Fencing: 1
Privacy Wall/Fence: 1
Pre-Wired
Cable: 1
Roof
Metal Roof: 1
Shutters
Panel: 1
Status Change Info
Status: Active
Property Features
Fee Includes: None
Tax Exemptions: None
Waterfront: Canal Front
Waterview: Canal View
Vehicle Storage: RV Parking Open; Trailer Storage
Furnished: Furnished
Cooling: Ceiling Fans(s); Central Air
Utilities: Cable Available; Community Swr Plant; Elect Separate Meter; FKAA; Municipal Sewer; Water Separate Meter
Interior Features: Drapes/Blinds Incl; Smoke Alarms; Storage; Window Treatments
Pre-Wired: Cable
Appliances: Dishwasher; Dryer; Microwave; Oven; Range; Refrigerator; Stainless Steel Appliance(s); Washer
Exterior Features: Fencing; Privacy Wall/Fence
Construction: CBS
Shutters: Panel
Floor: Tile
Roof: Metal Roof
Pets: Pets Allowed
Neighborhood Feature: Beach; Bike Paths; Tennis Courts
Security: Patrolled Area
Land Size: Less Than 1/4 Acre
Terms: Cash; Conventional; FHA; VA
Title: Negotiable
Vacation Rental Reviews 
Listing Office: Island Breeze Realty, LLC
Last Updated: April - 28 - 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.