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$1,995,000
Marathon, FL 33050
MLS# 607976
3 beds | 3 baths | 1600 sqft
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Property Description
This exceptional ocean front multi-family triplex boasts 60 feet of beach frontage with breathtaking open water views! The property consists of three legal units: a duplex and a single-family home, each offering a cozy 1 bedroom and 1 bathroom configuration. All units are currently rented, providing immediate income potential. The duplex operates as a successful Airbnb, while the single-family home is occupied by a long-term tenant. The single-family residence is a testament to modern construction, featuring brand new CBS (Concrete Block Structure) that stands on stilts. Its metal roof, impact doors, and windows are designed to withstand Florida's unique climate. Inside, the home dazzles with tasteful finishes including a kitchen adorned with granite countertops and stainless steel appliances. The duplex has been completely renovated, mirroring the resilience of the single-family home with CBS construction on stilts. Each side has been meticulously maintained and offers comfort and style to guests and residents alike. For those looking for an even larger investment, the adjacent duplex is also for sale (MLS#606424), potentially expanding your portfolio to five adjacent units. Additional features include an assumable flood policy (approximately $5,000 annually) for the duplex, which can offer significant savings. With its current use as a vacation rental, the property is self-managed, allowing for maximum control and profitability. Whether you envision creating an exclusive staff compound or converting the duplex into a single-family dwelling (and transferring one of the building rights to another property), the possibilities are as vast as the ocean views. Don't miss the chance to own this slice of paradise in Marathon, Florida!
Details
Maps
Contract Information
Current Price: $1,995,000
Listing Date: 2023-12-29
Listing Board: Marathon/Lower Keys
List Price: $1,995,000
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Species List: No
Location, Tax & Legal
Street #: 58090
Street Name: Overseas
Street Suffix: Highway
Key/Island: Marathon
State/Province: FL
Zip Code: 33050
Off Shore Island: No
County: Monroe
Subdivision: Grassy Key (58.9)
Mile Marker: 58.9
Area: 19 - Crawl Key & Grassy Key
Marathon Neighborhood: Grassy Key
Side: Ocean
Flood Zone: VE-13
Alternate Key #: 1454133
Parcel #: 00371040-000000
Zoning: RM - Residential Medium
Deed Restrictions: Unknown
Legal: BK 36 LT 11 CRAINS SUBD OF GRASSY KEY PB 1-51 PT SEC S24-25-26 TWP 65S R 33E
Taxes: 10131.6
Tax Year: 2023
Pub Sewer HkUp: No
General Property Description
Realtor.COM Type: Multi-family
Style: Multi-Units
Waterfront: Yes
Control Depth: 2
Pool: No
Year Built: 1979
Lot SqFt: 10800
Lot Sqft Source: Property Data Card
Acres: 0.07
Living Apx SqFt: 1600
SqFt Source: Property Data Card
Total Bedrooms: 3
Full Baths: 3
Total Baths: 3
Rentals Allowed: With Restrictions
Remarks & Misc
Remarks – Consumer: This exceptional ocean front multi-family triplex boasts 60 feet of beach frontage with breathtaking open water views! The property consists of three legal units: a duplex and a single-family home, each offering a cozy 1 bedroom and 1 bathroom configuration. All units are currently rented, providing immediate income potential. The duplex operates as a successful Airbnb, while the single-family home is occupied by a long-term tenant. The single-family residence is a testament to modern construction, featuring brand new CBS (Concrete Block Structure) that stands on stilts. Its metal roof, impact doors, and windows are designed to withstand Florida's unique climate. Inside, the home dazzles with tasteful finishes including a kitchen adorned with granite countertops and stainless steel appliances. The duplex has been completely renovated, mirroring the resilience of the single-family home with CBS construction on stilts. Each side has been meticulously maintained and offers comfort and style to guests and residents alike. For those looking for an even larger investment, the adjacent duplex is also for sale (MLS#606424), potentially expanding your portfolio to five adjacent units. Additional features include an assumable flood policy (approximately $5,000 annually) for the duplex, which can offer significant savings. With its current use as a vacation rental, the property is self-managed, allowing for maximum control and profitability. Whether you envision creating an exclusive staff compound or converting the duplex into a single-family dwelling (and transferring one of the building rights to another property), the possibilities are as vast as the ocean views. Don't miss the chance to own this slice of paradise in Marathon, Florida!
Directions: Property is on US 1 in Grassy Key just north of MM 58 Ocean side
Status Change Info
Status: Active
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Building Style
Above Flood: Yes
Stilt Column Height: Medium - 5Ft - 9Ft
Stories: 2 Stories
Financial Status
Auction: No
Bank Owned: No
Potential Short Sale: No
Standard Sale: Yes
Property Features
Fee Includes: None
Tax Exemptions: None
Waterfront: Oceanfront
Waterview: Ocean View
Dockage: None
Vehicle Storage: Covered Parking; Guest Parking; Off Street Parking
Cooling: Wall/Window Unit(s)
Utilities: Elect Separate Meter; FKAA; Municipal Sewer; Water Separate Meter
Specialty Rooms: Laundry Room
Appliances: Oven; Range; Refrigerator
Exterior Features: Detached Guest Qtrs; Sandy Beach; Storage
Construction: CBS
Windows/Doors: Other Windows/Doors
Shutters: Other
Floor: Tile
Roof: Tar/Gravel Roof
Neighborhood Feature: Beach
Land Size: 1/4 - 1/2 Acre
Listing Office: Coldwell Banker Schmitt Real Estate Co.
Last Updated: April - 04 - 2024
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