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  • 1500 Ocean Bay Drive S3, Key Largo, FL 33037 (MLS# 597043)

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

Overview

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 col ...

Listing Details MLS# 597043

Location, Tax & Legal

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
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

Contract Information

Listing Board
Marathon/Lower Keys
As is Rght to Inspct
Yes
Potential Short Sale
No
Bank Owned
No
Species List
No

General Property Description

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

Status Change Info

Under Contract Date
2021-09-13
Sold Date
2021-09-29

Association Info

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

License Info

# of County License
Yes

More Information

Building Style

Above Flood
Unknown
Townhouse
Yes

Financial Status

Bank Owned
No
Potential Short Sale
No
Standard Sale
Yes

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

Fee Includes

Bldg Exterior Mnt
Yes
Building Insurance
Yes
Cable
Yes
Common Area Mnt
Yes
Security
Yes
Sewer
Yes

Dockage

Other Dockage
Yes

Tax Exemptions

None
Yes

Appliances

Dishwasher
Yes
Disposal
Yes
Dryer
Yes
Microwave
Yes
Oven
Yes
Range
Yes
Refrigerator
Yes
Washer
Yes

Cooling

Ceiling Fans(s)
Yes
Central Air
Yes
Ductless
Yes
Heat
Yes
Heat Pump
Yes

Waterfront

Oceanfront
Yes
None
Yes

Waterview

Lake View
Yes
Ocean View
Yes

Floor

Tile
Yes

Neighborhood Feature

Community Boat Ramp
Yes
Community Dockage
Yes
Community Pool
Yes
Tennis Courts
Yes

Interior Features

Drapes/Blinds Incl
Yes
Smoke Alarms
Yes
Window Treatments
Yes

Property Condition

Updated/Remodeled
Yes

Specialty Rooms

Laundry Room
Yes

Windows/Doors

Impact Rstnce Doors
Yes
Impact Rstnce Window
Yes

Vehicle Storage

Guest Parking
Yes
Open Parking
Yes

Security

Manned Gate
Yes

Construction

CBS
Yes

Land Size

Less Than 1/4 Acre
Yes

Furnished

Furnished
Yes

Terms

Cash
Yes
Conventional
Yes
FHA
Yes
No Seller Finance
Yes
VA
Yes

Utilities

Cable Available
Yes
Elect Separate Meter
Yes
Municipal Sewer
Yes

Porch/Balcony

Screened P/B
Yes
Windowed P/B
Yes

Exterior Features

Tennis Court(s)
Yes

Pool Info

In Ground
Yes
Decked
Yes

Pre-Wired

Cable
Yes

Roof

Metal Roof
Yes

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.

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