1530 Ocean Bay Drive 509, Key Largo, FL 33037

$786,000
Property Type: Residential Bedrooms: 2 Baths: 2 Square Footage: 1,188 Status: Closed
Current Price: $786,000 List Date: 6/18/2025 Last Modified: 8/26/2025

Description

Top-Floor Oceanfront Condo | STR Rentals Approved | Income-Producing Investor alert! This stunning top-floor 2BD/2BA condo in Kawama Tower offers breathtaking panoramic ocean views and is fully approved for short-term rentals—making it a rare and highly desirable income-producing property in Key Largo. Turn-key and rental-ready, the unit features impact windows and doors, an updated kitchen, new flooring, stylish bathrooms, and a spacious split-bedroom layout ideal for hosting guests. Balcony overlooking the ocean view. Maximize returns with high nightly rental rates, year-round demand, and a proven STR market in this sought-after location. Set in a gated, resort-style community with a private beach, deep-water marina to rent a slip, boat ramp, pool, tennis pickle ball courts, and 24/7 security, this property offers strong appreciation potential and immediate cash flow. Whether you're looking to expand your portfolio, complete a 1031 exchange, or own a piece of paradise—this property ticks all the boxes. It offers an excellent balance of lifestyle, convenience, and income potential. Unit 509 is a premium pick in Kawama Tower - Act now to secure your own slice of Key Largo paradise! Exceptional location, stunning views, and impressive amenities and rental income —your dream Island and oceanfront lifestyle awaits!

More Information MLS# 614754

Contract Information

Listing Board: Florida Keys As is Rght to Inspct: Yes Current Price: $786,000 Listing Date: 2025-04-23 Sold Price: $786,000

Location, Tax & Legal

Unit #: 509 City: KEY LARGO Off Shore Island: No Mile Marker: 99.5 Marathon Neighborhood: N/A Side: Ocean Flood Zone: AE,AE Alternate Key #: 8843755 Parcel #: 00090495-000509 Zoning: SR - Sub Urban Residential District Deed Restrictions: Unknown Legal: UNIT 509 KAWAMA TOWER A CONDOMINIUM OR1376-116/17 OR1668-2470/71 OR1810-353AFF OR2180-807 OR2383-449 OR2566-833/34 OR25 Taxes: 6290.71 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: 0 Unit/Complex: Unit Pool: Yes Total Units: 0 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: Top-Floor Oceanfront Condo | STR Rentals Approved | Income-Producing Investor alert! This stunning top-floor 2BD/2BA condo in Kawama Tower offers breathtaking panoramic ocean views and is fully approved for short-term rentals—making it a rare and highly desirable income-producing property in Key Largo. Turn-key and rental-ready, the unit features impact windows and doors, an updated kitchen, new flooring, stylish bathrooms, and a spacious split-bedroom layout ideal for hosting guests. Balcony overlooking the ocean view. Maximize returns with high nightly rental rates, year-round demand, and a proven STR market in this sought-after location. Set in a gated, resort-style community with a private beach, deep-water marina to rent a slip, boat ramp, pool, tennis pickle ball courts, and 24/7 security, this property offers strong appreciation potential and immediate cash flow. Whether you're looking to expand your portfolio, complete a 1031 exchange, or own a piece of paradise—this property ticks all the boxes. It offers an excellent balance of lifestyle, convenience, and income potential. Unit 509 is a premium pick in Kawama Tower - Act now to secure your own slice of Key Largo paradise! Exceptional location, stunning views, and impressive amenities and rental income —your dream Island and oceanfront lifestyle awaits! Directions: At mm 100 turn onto Ocean Bay Drive, all the way to the end turn right into Kawama Yacht Club. Go through the manned gate and make an immediate left. Follow until you see the Tower.

Association Info

Mandatory Home Owners Asc: Yes 1st Right of Refusal: No Association Fee $: 1350 Assoc/Mnt Fee Per: Monthly

Fee Includes

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

Dockage

Boat Ramp: 1

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

Central Air: 1

Waterfront

Oceanfront: 1 Open Water: 1

Waterview

Ocean View: 1 Open Water View: 1

Floor

Tile: 1

Neighborhood Feature

Beach: 1 Bike Paths: 1 Community Boat Ramp: 1 Community Pool: 1 Tennis Courts: 1

Interior Features

Granite Counter Top: 1 Quartz Countertops: 1 Split Bedroom: 1 Storage: 1

Property Condition

Updated/Remodeled: 1

Specialty Rooms

Laundry Room: 1

Building Style

Above Flood: Yes Stories: 5 Stories

Windows/Doors

Impact Rstnce Doors: 1 Impact Rstnce Window: 1

Vehicle Storage

Guest Parking: 1 Assigned Parking: 1 Trailer Storage: 1

Security

Manned Gate: 1

Construction

CBS: 1 Concrete: 1

Land Size

10 or more Acres: 1

Furnished

Furnished: 1

Terms

Cash: 1 Conventional: 1

Utilities

FKAA: 1 Municipal Sewer: 1

Porch/Balcony

Open Porch/Balcony: 1

Title

Title Ins - Buyer: 1

Exterior Features

Sandy Beach: 1 Tennis Court(s): 1

Pool Info

In Ground: 1 Heated: Yes Concrete: 1

Roof

Concrete Roof: 1

Status Change Info

Sold Date: 2025-08-25 Sold Price: $786,000 Status: Closed

Property Features

Fee Includes: Bldg Exterior Mnt; Building Insurance; Common Area Mnt; Security Tax Exemptions: None Waterfront: Oceanfront; Open Water Waterview: Ocean View; Open Water View Dockage: Boat Ramp Property Condition: Updated/Remodeled Vehicle Storage: Assigned Parking; Guest Parking; Trailer Storage Furnished: Furnished Cooling: Central Air Utilities: FKAA; Municipal Sewer Interior Features: Granite Counter Top; Quartz Countertops; Split Bedroom; Storage Specialty Rooms: Laundry Room Appliances: Dishwasher; Dryer; Microwave; Oven; Range; Refrigerator; Stainless Steel Appliance(s); Washer Exterior Features: Sandy Beach; Tennis Court(s) Pool Info: In Ground; Concrete Construction: CBS; Concrete Floor: Tile Roof: Concrete Roof Pets: Pets Allowed Neighborhood Feature: Beach; Bike Paths; Community Boat Ramp; Community Pool; Tennis Courts Security: Manned Gate Land Size: 10 or more Acres Terms: Cash; Conventional Title: Title Ins - Buyer

Documents

Listing Office: American Caribbean Real Estate, Christie's International Real Estate
Last Updated: August - 26 - 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.