58234 Overseas Highway, Marathon, FL 33050 (MLS# 612603)

58234 Overseas Highway, Marathon, FL 33050

$1,400,000

Property Type: Residential Bedrooms: 7 Baths: 7 Square Footage: 3,026 Lot Size (sq. ft.): 18,000 Status: Closed

Current Price: $1,400,000 List Date: 12/08/2024 Last Modified: 8/06/2025

Description

Unique 18,000 sq ft ocean front parcel with 5 units. Remember how the Key used to be? Parcel shares a boat ramp with adjacent parcel, owned bay bottom and 5 units recognized by the City of Marathon. The property contains a Triplex consisting of a 2/2 apt and two 1/1 apartments: a small cottage studio with 1 bath and a mobile home with 2 beds/1.5 baths. Triplex building sits directly on the Ocean and is currently undergoing spalling repairs. The property has been a vacation rental, but the vacation rental license is currently stopped while repairs are under way. Potential buyers have several options. The current density on RM zoning allows for two units should a prospective buyer wish to demolish the existing units, rebuild two units, and sell or retain the remaining 3 Transferable Building Rights. Letter of Determination is under the Documents Tab.

More Information MLS# 612603

Contract Information

Listing Board: Marathon/Lower Keys As is Rght to Inspct: Yes Species List: No Current Price: $1,400,000 Listing Date: 2024-12-07 Sold Price: $1,400,000

Location, Tax & Legal

City: MARATHON Off Shore Island: No Mile Marker: 58 Marathon Neighborhood: Grassy Key Side: Ocean Flood Zone: VE,AE,AE,VE Alternate Key #: 1451657 Parcel #: 00368470-000000 Zoning: RM - Residential Medium Deed Restrictions: Unknown Legal: BK 18 LT 20 CRAINS SUBD OF GRASSY KEY PB 1-51 AND ADJ PORTION OF FLAGLER STREET Taxes: 12299.03 Tax Year: 2023 Pub Sewer HkUp: Yes Street #: 58234 Street Name: Overseas Street Suffix: Highway Key/Island: Marathon State/Province: FL Zip Code: 33050 County: Monroe Subdivision: Crains Sub (58.0) Area: 19 - Crawl Key & Grassy Key

General Property Description

Realtor.COM Type: Multi-family Waterfront: Yes Control Depth: 1 Lot SqFt: 18000 Pool: No Total Units: 5 Acres: 0.18 SqFt Source: Property Data Card Rentals Allowed: With Restrictions Min Rental Days: 7 Style: Multi-Units Year Built: 1975 Living Apx SqFt: 3026 Total Bedrooms: 7 Full Baths: 6 Half Baths: 1 Total Baths: 7

Remarks & Misc

Remarks – Consumer: Unique 18,000 sq ft ocean front parcel with 5 units. Remember how the Key used to be? Parcel shares a boat ramp with adjacent parcel, owned bay bottom and 5 units recognized by the City of Marathon. The property contains a Triplex consisting of a 2/2 apt and two 1/1 apartments: a small cottage studio with 1 bath and a mobile home with 2 beds/1.5 baths. Triplex building sits directly on the Ocean and is currently undergoing spalling repairs. The property has been a vacation rental, but the vacation rental license is currently stopped while repairs are under way. Potential buyers have several options. The current density on RM zoning allows for two units should a prospective buyer wish to demolish the existing units, rebuild two units, and sell or retain the remaining 3 Transferable Building Rights. Letter of Determination is under the Documents Tab. Directions: US 1 to 58234 Overseas Highway.

Status Change Info

Sold Comments: Property being renovated & included 5 TBRs Sold Date: 2025-08-06 Sold Price: $1,400,000 Status: Closed

Association Info

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

License Info

# of City License: 1

Fee Includes

None: 1

Dockage

Boat Ramp: 1

Tax Exemptions

None: 1

Appliances

Other: varied/multiple

Pets

Pets Allowed: 1

Cooling

Wall/Window Unit(s): 1

Waterfront

Oceanfront: 1 Open Water: 1

Waterview

Ocean View: 1 Open Water View: 1

Property Condition

Under Construction: 1

Building Style

Above Flood: No Stories: 2 Stories Other Bldg Style: 1

Vehicle Storage

Off Street Parking: 1

Construction

CBS: 1 Manufactured: 1

Land Size

1/4 - 1/2 Acre: 1

Furnished

Unfurnished: 1

Utilities

Buyer to Verify: 1 Elect Separate Meter: 1 FKAA: 1 Municipal Sewer: 1

Porch/Balcony

Open Porch/Balcony: 1 Patio: 1

Title

Negotiable: 1

Property Features

Fee Includes: None Tax Exemptions: None Waterfront: Oceanfront; Open Water Waterview: Ocean View; Open Water View Dockage: Boat Ramp Property Condition: Under Construction Building Style: Other Bldg Style Vehicle Storage: Off Street Parking Furnished: Unfurnished Cooling: Wall/Window Unit(s) Utilities: Buyer to Verify; Elect Separate Meter; FKAA; Municipal Sewer Construction: CBS; Manufactured Pets: Pets Allowed Land Size: 1/4 - 1/2 Acre Title: Negotiable

Documents

TBR Determination Letter ›

Listing Office: Coldwell Banker Schmitt Real Estate Co.

Last Updated: August - 06 - 2025

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