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$1,599,000
Marathon, FL 33050
MLS# 609777
8 beds | 4 baths | 2780 sqft
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Property Description
A unique investment gem optimally positioned in the heart of the Florida Keys. This four-unit apartment building presents a fantastic opportunity for investors or business owners seeking employee housing solutions. Each of the four apartments in this building offers a comfortable living space with two bedrooms and one bathroom. Long-term tenants are currently in place. The separate metering of electricity for each unit is a thoughtful touch, allowing tenants to manage and pay for their own usage, which is a benefit for both the landlord and the tenants alike. Parking is often at a premium in the Keys, but not at this property. There is ample on-site parking available, ensuring that residents and their guests have convenient and secure places to park their vehicles. This is a significant advantage in the region and adds to the attractiveness of the property for prospective tenants. Additionally, the presence of a laundry room out back offers an added layer of convenience for residents. This shared facility means that tenants do not need to leave the comfort of their complex for laundry services, adding to the appeal of the apartments. For local business owners, this property represents a strategic investment in the future of their enterprise. With the challenge of securing affordable housing being a key factor in employee retention, owning this apartment building could be a decisive move to ensure the stability and longevity of your workforce. New owner can apply for affordable housing units and if awarded by the city would be able sell the 4 market rates off which are currently going for approx. 200k each. Inquire for details. By providing your employees with a comfortable and convenient place to live, you can foster loyalty and reduce the turnover that often plagues businesses in high-demand living areas. In summary this investment offers a rare blend of steady income potential and strategic benefits for business owners.
Details
Maps
Contract Information
Current Price: $1,599,000
Listing Date: 2024-04-24
Listing Board: Marathon/Lower Keys
List Price: $1,599,000
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Species List: No
Location, Tax & Legal
Street #: 500
Street Name: 22Nd Street Ocean
Unit #: 1-4
Key/Island: Marathon
State/Province: FL
Zip Code: 33050
County: Monroe
Subdivision: R & R Subdivision (48.5)
Mile Marker: 48.5
Area: 13 - 7 Mile Bridge to Sombrero Bch Rd E & W
Marathon Neighborhood: Old Town East (25th to Sombrero)
Side: Ocean
Flood Zone: AE-7
Alternate Key #: 1120014
Parcel #: 00102830-000100
Zoning: RH - Residential High
Deed Restrictions: Unknown
Legal: 9 66 32 KEY VACCA PT GOV LT 2 ADJ AND S OF LT 6 BLK B R AND R SUBD
Taxes: 8429.49
Tax Year: 2023
Pub Sewer HkUp: Yes
General Property Description
Realtor.COM Type: Multi-family
Style: Multi-Units
Waterfront: No
Pool: No
Year Built: 1973
Lot SqFt: 6002
Lot Sqft Source: Property Data Card
Acres: 0.14
Living Apx SqFt: 2780
SqFt Source: Property Data Card
Total Bedrooms: 8
Full Baths: 4
Total Baths: 4
Rentals Allowed: Yes
Min Rental Days: 7
Remarks & Misc
Remarks – Consumer: A unique investment gem optimally positioned in the heart of the Florida Keys. This four-unit apartment building presents a fantastic opportunity for investors or business owners seeking employee housing solutions. Each of the four apartments in this building offers a comfortable living space with two bedrooms and one bathroom. Long-term tenants are currently in place. The separate metering of electricity for each unit is a thoughtful touch, allowing tenants to manage and pay for their own usage, which is a benefit for both the landlord and the tenants alike. Parking is often at a premium in the Keys, but not at this property. There is ample on-site parking available, ensuring that residents and their guests have convenient and secure places to park their vehicles. This is a significant advantage in the region and adds to the attractiveness of the property for prospective tenants. Additionally, the presence of a laundry room out back offers an added layer of convenience for residents. This shared facility means that tenants do not need to leave the comfort of their complex for laundry services, adding to the appeal of the apartments. For local business owners, this property represents a strategic investment in the future of their enterprise. With the challenge of securing affordable housing being a key factor in employee retention, owning this apartment building could be a decisive move to ensure the stability and longevity of your workforce. New owner can apply for affordable housing units and if awarded by the city would be able sell the 4 market rates off which are currently going for approx. 200k each. Inquire for details. By providing your employees with a comfortable and convenient place to live, you can foster loyalty and reduce the turnover that often plagues businesses in high-demand living areas. In summary this investment offers a rare blend of steady income potential and strategic benefits for business owners.
Directions: Ocean Side, turn on 22nd Street. Apartment building is 3/4 of the way down the street on the left hand side.
Status Change Info
Status: Active
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Building Style
Above Flood: No
Stories: 2 Stories
Vehicle Storage
Car(s): 4+
Financial Status
Auction: No
Bank Owned: No
Potential Short Sale: No
Standard Sale: Yes
Property Features
Fee Includes: None
Tax Exemptions: None
Waterfront: None
Waterview: No Waterview
Dockage: None
Vehicle Storage: Off Street Parking; Open Parking
Furnished: Unfurnished
Cooling: Ceiling Fans(s); Wall/Window Unit(s)
Utilities: Elect Separate Meter; FKAA; Municipal Sewer
Specialty Rooms: Utility Room
Appliances: Microwave; Oven; Range; Refrigerator
Construction: CBS
Windows/Doors: Single Hung Windows
Shutters: Bahama; Panel
Roof: Combo Roof
Pets: Pets Allowed
Land Size: Less Than 1/4 Acre
Listing Office: Coldwell Banker Schmitt Real Estate Co.
Last Updated: April - 29 - 2024
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