500 22nd Street, Marathon, FL 33050

$1,250,000
Property Type: Residential Bedrooms: 8 Baths: 4 Square Footage: 2,780 Lot Size (sq. ft.): 6,002 Status: Closed
Current Price: $1,250,000 List Date: 1/14/2022 Last Modified: 12/03/2025

Description

Fantastic opportunity for an investor or local business for employee housing! This two story, four unit apartment building is a rarity in Marathon. Offering apartments that are all two bedroom, one bathroom units. They are all currently rented with long-term tenants in place; current rents range from $1,715 - $2,000 per unit. The current market rate rent on these units should be $2,400 + monthly. Separately metered electric for each unit, which tenants pay. There is plenty of parking on-site and a laundry room out back (owner pays utilities for laundry room). If you own a local business and worry about employee retention due to housing, this may be the investment you need to make to secure your longevity.

More Information MLS# 599200

Contract Information

Listing Board: Marathon/Lower Keys As is Rght to Inspct: Yes Species List: No Current Price: $1,250,000 Listing Date: 2022-01-12 Sold Price: $1,250,000

Location, Tax & Legal

City: MARATHON Off Shore Island: No Mile Marker: 48.5 Marathon Neighborhood: Old Town East (25th to Sombrero) Side: Ocean Flood Zone: AE Alternate Key #: 1120014 Parcel #: 00102830-000100 Zoning: RH - Residential High Deed Restrictions: No Legal: 9 66 32 KEY VACCA PT GOV LT 2 ADJ AND S OF LT 6 BLK B R AND R SUBD OR176-45 OR476-195 OR476-197 OR552-255C OR586-291 OR6 Taxes: 6039.6 Tax Year: 2021 Pub Sewer HkUp: Yes Street #: 500 Street Name: 22nd Street Suffix: Street Key/Island: Marathon State/Province: FL Zip Code: 33050 County: Monroe Subdivision: R & R Subdivision (48.5) Area: 13 - 7 Mile Bridge to Sombrero Bch Rd E & W

General Property Description

Realtor.COM Type: Multi-family Waterfront: No Control Depth: 0 Lot SqFt: 6002 Pool: No Total Units: 4 Acres: 0.14 SqFt Source: Property Data Card Rentals Allowed: Yes Min Rental Days: 7 Style: Multi-Units Year Built: 1973 Living Apx SqFt: 2780 Total Bedrooms: 8 Full Baths: 4 Total Baths: 4

Remarks & Misc

Remarks – Consumer: Fantastic opportunity for an investor or local business for employee housing! This two story, four unit apartment building is a rarity in Marathon. Offering apartments that are all two bedroom, one bathroom units. They are all currently rented with long-term tenants in place; current rents range from $1,715 - $2,000 per unit. The current market rate rent on these units should be $2,400 + monthly. Separately metered electric for each unit, which tenants pay. There is plenty of parking on-site and a laundry room out back (owner pays utilities for laundry room). If you own a local business and worry about employee retention due to housing, this may be the investment you need to make to secure your longevity. 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

Sold Comments: Thank you David! Glad you got to sell this twice! Sold Date: 2022-05-17 Sold Price: $1,250,000 Status: Closed

Association Info

Mandatory Home Owners Asc: No 1st Right of Refusal: No Association Fee $: 0

Fee Includes

None: 1

Dockage

None: 1

Tax Exemptions

None: 1

Appliances

Dryer: 1 Oven: 1 Range: 1 Washer: 1

Pets

Pets Allowed: 1

Cooling

Ceiling Fans(s): 1 Wall/Window Unit(s): 1

Waterfront

None: 1

Waterview

No Waterview: 1

Floor

Tile: 1

Specialty Rooms

Utility Room: 1

Building Style

Above Flood: Unknown Stories: 2 Stories

Vehicle Storage

Off Street Parking: 1

Security

Patrolled Area: 1

Construction

Concrete: 1

Land Size

Less Than 1/4 Acre: 1

Furnished

Unfurnished: 1

Terms

Cash: 1 Conventional: 1 No Seller Finance: 1

Utilities

Elect Separate Meter: 1 FKAA: 1

Title

Negotiable: 1

Pre-Wired

Cable: 1

Financial Status

Standard Sale: Yes

Accessibility Feat

None: 1

Property Features

Fee Includes: None Tax Exemptions: None Waterfront: None Waterview: No Waterview Dockage: None Vehicle Storage: Off Street Parking Furnished: Unfurnished Cooling: Ceiling Fans(s); Wall/Window Unit(s) Utilities: Elect Separate Meter; FKAA Pre-Wired: Cable Specialty Rooms: Utility Room Appliances: Dryer; Oven; Range; Washer Accessibility Feat: None Construction: Concrete Floor: Tile Pets: Pets Allowed Security: Patrolled Area Land Size: Less Than 1/4 Acre Terms: Cash; Conventional; No Seller Finance Title: Negotiable
Listing Office: Ocean Sotheby's International
Last Updated: December - 03 - 2025
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