1500 Ocean Bay Drive S3, Key Largo, FL 33037

$555,000
Property Type: Residential Bedrooms: 3 Baths: 3 Square Footage: 925 Status: Closed
Current Price: $555,000 List Date: 7/26/2021 Last Modified: 11/04/2025

Description

Are you ready to enjoy some relaxation & fun in the beautiful Keys? This home has a fabulous vacation rental history (Jan 1, 2021 thru future rentals as of 7/23/21=$88,442!!) & is a real cash flow machine or just make it your home! Or both, enjoy it yourselves & rental income when you are not using it. Being offered fully furnished, turn-key, & with many future vacation rental reservations with deposits in place! This island home is located in the heart of Key Largo, backing up to John Pennekamp Coral Reef State Park & Molasses Reef. This is a spacious & well laid out 3-story townhouse in the beautiful private gated resort like community of Kawama, located on the ocean side of the island about mile marker 100. Once you are on the property, experience a beautiful saltwater swimming lagoon with beach, 2 beautiful swimming pools, tennis courts, and a long jetty right into the ocean. This townhouse is very tastefully decorated in a coastal style with comfortable furniture and coastal colors. 3 Floors of family living. Hurricane Impact windows & doors. Great entry and family hangout also beautifully decorated. There is a Bedroom on the lower level and a full bath. Main living area has lovely kitchen with Corian counter tops, a full bathroom, with open dining and living area looking onto a porch, which has shaded area from the outside trees and give a picturesque view of the entire area. There's 2 more roomy bedrooms on the top floor, with a full bath. This is truly a home for the whole family and friends. A weekend place or a spot to call home fulltime. The complex features 2 pools, tennis courts, guarded gate, an attached marina and lots of activities to keep you busy. The downstairs recreation room is designed for kids (and also kids at heart), with an arcade game and Wii for the family to enjoy! The arcade game has 1600+ games including Atari, Sega and Nintendo games.

More Information MLS# 597043

Contract Information

Listing Board: Marathon/Lower Keys As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No Species List: No Current Price: $555,000 Listing Date: 2021-07-26 Sold Price: $555,000

Location, Tax & Legal

Unit #: S3 City: KEY LARGO Off Shore Island: No Mile Marker: 100 Marathon Neighborhood: N/A Side: Ocean Flood Zone: AE,AE Alternate Key #: 8630085 Parcel #: 00090493-005500 Bldg Nbr: S Zoning: UR - Urban Residential Distrit Deed Restrictions: Yes Legal: TOWNHOUSES OF KAWAMA A CONDOMINIUM BLDG S UNIT 3 OR878-1206 OR930-1937 OR962-2184 OR991-1887C OR1010-985 OR1015-367 OR10 Taxes: 1196.37 Tax Year: 2020 Pub Sewer HkUp: Yes Street #: 1500 Street Name: Ocean Bay Street Suffix: Drive Key/Island: Key Largo State/Province: FL Zip Code: 33037 County: Monroe Subdivision: Kawama (100.0) Area: 27 - Key Largo MM 97-107

General Property Description

Realtor.COM Type: Residential - Condo/Townhouse Waterfront: No Control Depth: 4 Lot SqFt: 0 Pool: Yes Total Units: 67 SqFt Source: Property Data Card Rentals Allowed: With Restrictions Min Rental Days: 7 Style: Townhouse Year Built: 1983 Living Apx SqFt: 925 Total Bedrooms: 3 Full Baths: 3 Total Baths: 3

Remarks & Misc

Remarks – Consumer: Are you ready to enjoy some relaxation & fun in the beautiful Keys? This home has a fabulous vacation rental history (Jan 1, 2021 thru future rentals as of 7/23/21=$88,442!!) & is a real cash flow machine or just make it your home! Or both, enjoy it yourselves & rental income when you are not using it. Being offered fully furnished, turn-key, & with many future vacation rental reservations with deposits in place! This island home is located in the heart of Key Largo, backing up to John Pennekamp Coral Reef State Park & Molasses Reef. This is a spacious & well laid out 3-story townhouse in the beautiful private gated resort like community of Kawama, located on the ocean side of the island about mile marker 100. Once you are on the property, experience a beautiful saltwater swimming lagoon with beach, 2 beautiful swimming pools, tennis courts, and a long jetty right into the ocean. This townhouse is very tastefully decorated in a coastal style with comfortable furniture and coastal colors. 3 Floors of family living. Hurricane Impact windows & doors. Great entry and family hangout also beautifully decorated. There is a Bedroom on the lower level and a full bath. Main living area has lovely kitchen with Corian counter tops, a full bathroom, with open dining and living area looking onto a porch, which has shaded area from the outside trees and give a picturesque view of the entire area. There's 2 more roomy bedrooms on the top floor, with a full bath. This is truly a home for the whole family and friends. A weekend place or a spot to call home fulltime. The complex features 2 pools, tennis courts, guarded gate, an attached marina and lots of activities to keep you busy. The downstairs recreation room is designed for kids (and also kids at heart), with an arcade game and Wii for the family to enjoy! The arcade game has 1600+ games including Atari, Sega and Nintendo games. Directions: Turn oceanside at light at MM 100, take Ocean Bay Blvd. to end and turn right into Kawama Yacht Club. From Gate, follow on left to unit

Association Info

Mandatory Home Owners Asc: Yes 1st Right of Refusal: No Condo Doc's: Yes Association Fee $: 625 Maintenance Fee $: 280 Assoc/Mnt Fee Per: Monthly

License Info

# of County License: 1

Fee Includes

Bldg Exterior Mnt: 1 Building Insurance: 1 Cable: 1 Common Area Mnt: 1 Security: 1 Sewer: 1

Dockage

Other Dockage: 1

Tax Exemptions

None: 1

Appliances

Dishwasher: 1 Disposal: 1 Dryer: 1 Microwave: 1 Oven: 1 Range: 1 Refrigerator: 1 Washer: 1

Cooling

Ceiling Fans(s): 1 Central Air: 1 Ductless: 1 Heat: 1 Heat Pump: 1

Waterfront

Oceanfront: 1 None: 1

Waterview

Lake View: 1 Ocean View: 1

Floor

Tile: 1

Neighborhood Feature

Community Boat Ramp: 1 Community Dockage: 1 Community Pool: 1 Tennis Courts: 1

Interior Features

Drapes/Blinds Incl: 1 Smoke Alarms: 1 Window Treatments: 1

Property Condition

Updated/Remodeled: 1

Specialty Rooms

Laundry Room: 1

Building Style

Above Flood: Unknown Townhouse: 1

Windows/Doors

Impact Rstnce Doors: 1 Impact Rstnce Window: 1

Vehicle Storage

Guest Parking: 1 Open Parking: 1

Security

Manned Gate: 1

Construction

CBS: 1

Land Size

Less Than 1/4 Acre: 1

Furnished

Furnished: 1

Terms

Cash: 1 Conventional: 1 FHA: 1 No Seller Finance: 1 VA: 1

Utilities

Cable Available: 1 Elect Separate Meter: 1 Municipal Sewer: 1

Porch/Balcony

Screened P/B: 1 Windowed P/B: 1

Exterior Features

Tennis Court(s): 1

Pool Info

In Ground: 1 Decked: 1

Pre-Wired

Cable: 1

Roof

Metal Roof: 1

Financial Status

Bank Owned: No Potential Short Sale: No Standard Sale: Yes

Status Change Info

Sold Date: 2021-09-29 Sold Price: $555,000 Status: Closed

Property Features

Fee Includes: Bldg Exterior Mnt; Building Insurance; Cable; Common Area Mnt; Security; Sewer Tax Exemptions: None Waterfront: Oceanfront; None Waterview: Lake View; Ocean View Dockage: Other Dockage Property Condition: Updated/Remodeled Building Style: Townhouse Vehicle Storage: Guest Parking; Open Parking Furnished: Furnished Cooling: Ceiling Fans(s); Central Air; Ductless; Heat; Heat Pump Utilities: Cable Available; Elect Separate Meter; Municipal Sewer Interior Features: Drapes/Blinds Incl; Smoke Alarms; Window Treatments Pre-Wired: Cable Specialty Rooms: Laundry Room Appliances: Dishwasher; Disposal; Dryer; Microwave; Oven; Range; Refrigerator; Washer Exterior Features: Tennis Court(s) Pool Info: In Ground; Decked Construction: CBS Floor: Tile Roof: Metal Roof Neighborhood Feature: Community Boat Ramp; Community Dockage; Community Pool; Tennis Courts Security: Manned Gate Land Size: Less Than 1/4 Acre Terms: Cash; Conventional; FHA; No Seller Finance; VA
Listing Office: Robert Slack LLC
Last Updated: November - 04 - 2025
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.