1530 Ocean Bay Drive 508, Key Largo, FL 33037 (MLS# 615672)

1530 Ocean Bay Drive 508, Key Largo, FL 33037

$672,000

Property Type: Residential Bedrooms: 2 Baths: 2 Square Footage: 1,188 Lot Size (sq. ft.): 1,322 Status: Closed

Current Price: $672,000 List Date: 8/29/2025 Last Modified: 12/10/2025

Description

Turnkey investment opportunity in the heart of Key Largo! This property qualifies for special financing where personal income verification is not required. Approval is based solely on the property's proven or projected rental income, making it an ideal opportunity for investors seeking a high-return vacation rental or short-term rental property. Property has potential to generate over $100,000 per year in rental income. This updated 2BR/2BA condo at Kawama Yacht Club Tower (Unit 508) is being sold as a potentially high-performance short-term rental. Rare legal daily rental zoning ideal for maximizing occupancy and cash flow. Fully furnished, impact windows, beautifully maintained, and ready to generate revenue from day one. Resort amenities include marina, pools, beach, tennis, pickleball and 24/7 gated security. Excellent ROI in one of the most desirable waterfront communities in the Florida Keys.

More Information MLS# 615672

Contract Information

Listing Board: Florida Keys As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No Species List: No Current Price: $672,000 Listing Date: 2025-07-03 Sold Price: $672,000

Location, Tax & Legal

Unit #: 508 City: KEY LARGO Mile Marker: 100 Marathon Neighborhood: N/A Side: Ocean Flood Zone: AE,AE Alternate Key #: 8843747 Handicap Access: No Parcel #: 00090495-000508 Zoning: MI - Maritime Industries District Deed Restrictions: No Legal: UNIT 508 KAWAMA TOWER A CONDOMINIUM OR1374-1421/22 OR2632-1343 Taxes: 4719.29 Tax Year: 2024 Pub Sewer HkUp: Yes Street #: 1530 Street Name: Ocean Bay Street Suffix: Drive Key/Island: Key Largo State/Province: FL Zip Code: 33037 County: Monroe Subdivision: Kawama Tower (100.0) Area: 27 - Key Largo MM 97-107

General Property Description

Realtor.COM Type: Residential - Condo/Townhouse Waterfront: Yes Control Depth: 6 Lot SqFt: 1322 Unit/Complex: Unit Pool: Yes Lot Sqft Source: Tax Records Total Units: 48 SqFt Source: Tax Records Rentals Allowed: Yes Min Rental Days: 1 Style: Condo Year Built: 1993 Living Apx SqFt: 1188 Total Bedrooms: 2 Full Baths: 2 Total Baths: 2

Remarks & Misc

Remarks – Consumer: Turnkey investment opportunity in the heart of Key Largo! This property qualifies for special financing where personal income verification is not required. Approval is based solely on the property's proven or projected rental income, making it an ideal opportunity for investors seeking a high-return vacation rental or short-term rental property. Property has potential to generate over $100,000 per year in rental income. This updated 2BR/2BA condo at Kawama Yacht Club Tower (Unit 508) is being sold as a potentially high-performance short-term rental. Rare legal daily rental zoning ideal for maximizing occupancy and cash flow. Fully furnished, impact windows, beautifully maintained, and ready to generate revenue from day one. Resort amenities include marina, pools, beach, tennis, pickleball and 24/7 gated security. Excellent ROI in one of the most desirable waterfront communities in the Florida Keys.

Association Info

Mandatory Home Owners Asc: Yes 1st Right of Refusal: No Association Fee $: 1055 Maintenance Fee $: 385 Assoc/Mnt Fee Per: Monthly

Fee Includes

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

Dockage

Boat Ramp: 1

Tax Exemptions

None: 1

Appliances

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

Pets

Pets Allowed: 1

Cooling

Ceiling Fans(s): 1

Heating

Hot Water: 1

Waterfront

Oceanfront: 1

Waterview

Ocean View: 1

Floor

Laminate: 1

Interior Features

Built-in Cabinets: 1 Drapes/Blinds Incl: 1 Elevator: 1 Granite Counter Top: 1 Smoke Alarms: 1 Walk-in Closet(s): 1 Window Treatments: 1

Building Style

Above Flood: Yes Stories: 5 Stories

Windows/Doors

Impact Rstnce Doors: 1 Impact Rstnce Window: 1

Vehicle Storage

Open Parking: 1

Construction

CBS: 1 Stucco: 1

Land Size

10 or more Acres: 1

Furnished

Furnished: 1

Terms

Cash: 1 Conventional: 1

Utilities

Cable Available: 1

Porch/Balcony

Open Porch/Balcony: 1

Title

Title Ins - Buyer: 1

Exterior Features

Tennis Court(s): 1

Pool Info

In Ground: 1 Heated: Yes

Pre-Wired

Cable: 1

Financial Status

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

GF-Interior Features

Programmable Thermst: 1

Status Change Info

Sold Date: 2025-12-08 Sold Price: $672,000 Status: Closed

Property Features

Fee Includes: Bldg Exterior Mnt; Building Insurance; Cable; Common Area Mnt; Exterminating; Security; Sewer Tax Exemptions: None Waterfront: Oceanfront Waterview: Ocean View Dockage: Boat Ramp Vehicle Storage: Open Parking Furnished: Furnished Cooling: Ceiling Fans(s) Heating: Hot Water Utilities: Cable Available Interior Features: Built-in Cabinets; Drapes/Blinds Incl; Elevator; Granite Counter Top; Smoke Alarms; Walk-in Closet(s); Window Treatments Pre-Wired: Cable Appliances: Dishwasher; Disposal; Dryer; Microwave; Oven; Range; Refrigerator; Washer Exterior Features: Tennis Court(s) Pool Info: In Ground Construction: CBS; Stucco Floor: Laminate Pets: Pets Allowed Land Size: 10 or more Acres Terms: Cash; Conventional Title: Title Ins - Buyer GF-Interior Features: Programmable Thermst

Listing Office: Pedrin of Miami Realty, Inc.

Last Updated: December - 10 - 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.