• Home
  • 1530 Ocean Bay Drive 304, Key Largo, FL 33070 (MLS# 619532)

1530 Ocean Bay Drive 304, Key Largo, FL 33070

New Listing
$859,900
Property Type: Residential Bedrooms: 2 Baths: 2 Square Footage: 1,188 Status: Active
Current Price: $859,900 List Date: 4/16/2026 Last Modified: 4/16/2026

Description

Agent is also the owner. Welcome to Kawama Tower, one of the very few communities in Key Largo that legally allows short-term daily rentals, making this an exceptional investment opportunity with strong passive-income potential. This property has generated over $110,000 per year in rental income for the last 3 years . Kawama Tower is approved for DSCR loans that are based solely on potential rental income. Contact Listing agent/ Owner for details. This beautifully updated 2-bedroom, 2-bath condo with a great view has been fully remodeled by a professional interior designer, offering a modern coastal aesthetic, turnkey furnishings, and a spacious layout ideal for both personal enjoyment and rental guests. Located in an oceanfront, gated resort community, this unit offers marina views and access to premium amenities including a private sandy beach, saltwater lagoon, heated pools, tennis courts, playground, boat ramp, on-site security, and more. Highlights: Fully renovated 2/2 with designer finishes Oceanfront community with marina views One of the few Key Largo neighborhoods permitting short-term rentals Turnkey and ready for immediate occupancy or rental Resort amenities: pools, lagoon, beach, tennis, boat ramp, 24/7 security Gated community at MM 100, close to Pennekamp, dining, and shopping This is a rare opportunity to own a high-performing, short-term rental in one of the most desirable oceanfront communities in the Upper Keys.

More Information MLS# 619532

Contract Information

Listing Board: Florida Keys As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No Species List: No Current Price: $859,900 Listing Date: 2026-04-16 List Price: $859,900

Location, Tax & Legal

Unit #: 304 City: KEY LARGO Off Shore Island: No Mile Marker: 100 Marathon Neighborhood: N/A Senior Community YN: No Side: Ocean Flood Zone: AE Alternate Key #: 8843461 Handicap Access: No Parcel #: 00090495-000304 Zoning: UR - Urban Residential Distrit Deed Restrictions: No Legal: UNIT 304 KAWAMA TOWER A CONDOMINIUM OR1335-1009 OR2029-2439/40 OR2627-523/25 OR2870-1241/42 Taxes: 5027.61 Tax Year: 2025 Pub Sewer HkUp: Yes Street #: 1530 Street Name: Ocean Bay Street Suffix: Drive Key/Island: Key Largo State/Province: FL Zip Code: 33070 County: Monroe Subdivision: Kawama Tower (100.0) Area: 27 - Key Largo MM 97-107

General Property Description

Realtor.COM Type: Residential - Condo/Townhouse Waterfront: No Control Depth: 0 Lot Size: X Lot SqFt: 0 Pool: Yes Total Units: 1 SqFt Source: Appraisal Rentals Allowed: Yes Min Rental Days: 1 Floor Number: 3 Style: Condo Year Built: 1993 Living Apx SqFt: 1188 Total Bedrooms: 2 Full Baths: 2 Total Baths: 2

Remarks & Misc

Remarks – Consumer: Agent is also the owner. Welcome to Kawama Tower, one of the very few communities in Key Largo that legally allows short-term daily rentals, making this an exceptional investment opportunity with strong passive-income potential. This property has generated over $110,000 per year in rental income for the last 3 years . Kawama Tower is approved for DSCR loans that are based solely on potential rental income. Contact Listing agent/ Owner for details. This beautifully updated 2-bedroom, 2-bath condo with a great view has been fully remodeled by a professional interior designer, offering a modern coastal aesthetic, turnkey furnishings, and a spacious layout ideal for both personal enjoyment and rental guests. Located in an oceanfront, gated resort community, this unit offers marina views and access to premium amenities including a private sandy beach, saltwater lagoon, heated pools, tennis courts, playground, boat ramp, on-site security, and more. Highlights: Fully renovated 2/2 with designer finishes Oceanfront community with marina views One of the few Key Largo neighborhoods permitting short-term rentals Turnkey and ready for immediate occupancy or rental Resort amenities: pools, lagoon, beach, tennis, boat ramp, 24/7 security Gated community at MM 100, close to Pennekamp, dining, and shopping This is a rare opportunity to own a high-performing, short-term rental in one of the most desirable oceanfront communities in the Upper Keys.

Association Info

Mandatory Home Owners Asc: Yes 1st Right of Refusal: No Association Fee $: 1440

License Info

Transient Rntl Licns: Yes

Fee Includes

Cable: 1

Dockage

First Come Dock: 1

Tax Exemptions

None: 1

Appliances

Dishwasher: 1 Dryer: 1 Freezer: 1 Microwave: 1 Oven: 1 Range: 1 Refrigerator: 1 Stainless Steel Appliance(s): 1 Washer: 1

Pets

Pets Allowed: 1

Cooling

Ceiling Fans(s): 1 Central Air: 1

Heating

Hot Water: 1

Waterfront

Oceanfront: 1

Waterview

No Waterview: 1

Floor

Vinyl: 1

Neighborhood Feature

Tennis Courts: 1

Interior Features

Built-in Cabinets: 1 Drapes/Blinds Incl: 1 Elevator: 1 Fire Sprinkler: 1 Quartz Countertops: 1 Smoke Alarms: 1 Split Bedroom: 1 Window Treatments: 1

Specialty Rooms

Laundry Room: 1

Building Style

Above Flood: Yes

Windows/Doors

Single Hung Windows: 1

Vehicle Storage

Open Parking: 1

Security

Manned Gate: 1

Construction

CBS: 1

Land Size

5 Less Than 10 Acres: 1

Furnished

Furnished: 1

Terms

Cash: 1 Conventional: 1

Utilities

Cable Available: 1 Municipal Sewer: 1

Porch/Balcony

Open Porch/Balcony: 1

Title

Title Ins - Buyer: 1

Exterior Features

Built-in Grill: 1 Chickee Hut: 1 Tennis Court(s): 1

Pool Info

In Ground: 1

Pre-Wired

Cable: 1

Roof

Concrete Roof: 1

Financial Status

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

Accessibility Feat

Parking: 1

Status Change Info

Status: Active

Property Features

Fee Includes: Cable Tax Exemptions: None Waterfront: Oceanfront Waterview: No Waterview Dockage: First Come Dock Vehicle Storage: Open Parking Furnished: Furnished Cooling: Ceiling Fans(s); Central Air Heating: Hot Water Utilities: Cable Available; Municipal Sewer Interior Features: Built-in Cabinets; Drapes/Blinds Incl; Elevator; Fire Sprinkler; Quartz Countertops; Smoke Alarms; Split Bedroom; Window Treatments Pre-Wired: Cable Specialty Rooms: Laundry Room Appliances: Dishwasher; Dryer; Freezer; Microwave; Oven; Range; Refrigerator; Stainless Steel Appliance(s); Washer Exterior Features: Built-in Grill; Chickee Hut; Tennis Court(s) Accessibility Feat: Parking Pool Info: In Ground Construction: CBS Floor: Vinyl Roof: Concrete Roof Pets: Pets Allowed Neighborhood Feature: Tennis Courts Security: Manned Gate Land Size: 5 Less Than 10 Acres Terms: Cash; Conventional Title: Title Ins - Buyer
Listing Office: Pedrin of Miami Realty, Inc.
Last Updated: April - 16 - 2026
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.

Let’s Connect

      Sign Up for Listing Alerts