461 & 471 3rd Street, Key Colony, FL 33051

$1,680,000

Property Type: Residential Bedrooms: 6 Baths: 4 Square Footage: 2,528 Lot Size (sq. ft.): 6,672 Status: Closed

Current Price: $1,680,000 List Date: 5/28/2025 Last Modified: 8/08/2026

Overview

Description

Capitalize on proven income and flexibility with this fully furnished, turnkey waterfront duplex generating approx. $100K/year in rental income! Built above flood for added peace of mind and potential insurance savings, this well-established (for 10+ years) vacation rental features two spacious 3BD/2BA units with private entrances and parking. Enjoy 60 ft. of deep-water dockage on a wide canal with immediate ocean access, plus two private waterfront outdoor living spaces framed by lush tropical landscaping and privacy fencing between. Whether you rent both units, live in one and rent the other or enjoy as a multi-family retreat, this property offers unmatched versatility at a price point well below comparable 6-bedroom waterfront single-family homes in Key Colony Beach. Just ¼ mile from the Cabana Club and close to beaches, dining, and shopping--ready for immediate use or continued rental success!

Listing Details MLS# 615206

Location, Tax & Legal

Street #: 461 & 471
Street Name: 3rd
Street Suffix: Street
Key/Island: Key Colony
State/Province: FL
Zip Code: 33051
County: Monroe
Subdivision: Key Colony Beach (53.5)
Area: 17 - Vaca Cut - Both Sides Holiday Inn/Key Colony
City: KEY COLONY
Off Shore Island: No
Mile Marker: 53.5
Marathon Neighborhood: Marathon East - Gulf (Airport to Vaca)
Side: Ocean
Flood Zone: AE
Alternate Key #: 1076902
Add'l Parcel #1: 00072850-000100
Parcel #: 00072850-000000
Zoning: R-2A - Key Colony Two Family
Deed Restrictions: Unknown
Legal: BK 3 S 1/2 LOT 19 KEY COLONY BEACH PB3-120 SHELTER KEY OR318-468/69 OR354-87/88 OR635-14/15 OR871-1174 OR913-985 OR1398
Taxes: 6941.18
Tax Year: 2024
Pub Sewer HkUp: Yes

Contract Information

Listing Board: Marathon/Lower Keys
As is Rght to Inspct: Yes
Species List: No

General Property Description

Realtor.COM Type: Multi-family
Style: Duplex
Waterfront: Yes
Control Depth: 5
Pool: No
Year Built: 1997
Total Units: 2
Lot SqFt: 6672
Lot Sqft Source: Property Data Card
Acres: 0.16
Living Apx SqFt: 2528
SqFt Source: Property Data Card
Total Bedrooms: 6
Full Baths: 4
Total Baths: 4
Rentals Allowed: Yes
Min Rental Days: 7

Status Change Info

Under Contract Date: 2026-07-03
Sold Date: 2026-08-07

Association Info

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

License Info

# of City License: 2

More Information

Dockage

Dock Length: 60
Dock: Concrete

Building Style

Above Flood: Yes

Vehicle Storage

Car(s): 4+
RV Parking Open: Yes
Trailer Storage: Yes

Remarks & Misc

Remarks – Consumer: Capitalize on proven income and flexibility with this fully furnished, turnkey waterfront duplex generating approx. $100K/year in rental income! Built above flood for added peace of mind and potential insurance savings, this well-established (for 10+ years) vacation rental features two spacious 3BD/2BA units with private entrances and parking. Enjoy 60 ft. of deep-water dockage on a wide canal with immediate ocean access, plus two private waterfront outdoor living spaces framed by lush tropical landscaping and privacy fencing between. Whether you rent both units, live in one and rent the other or enjoy as a multi-family retreat, this property offers unmatched versatility at a price point well below comparable 6-bedroom waterfront single-family homes in Key Colony Beach. Just ¼ mile from the Cabana Club and close to beaches, dining, and shopping--ready for immediate use or continued rental success!
Directions: Take Sadowski Causeway, make a left onto E Ocean Dr. Turn left onto 3rd st. Home is on the left

Fee Includes

None: Yes

Tax Exemptions

None: Yes

Appliances

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

Pets

Pets Allowed: Yes

Cooling

Ceiling Fans(s): Yes
Central Air: Yes

Waterfront

Canal Front: Yes

Waterview

Canal View: Yes

Floor

Tile: Yes

Neighborhood Feature

Beach: Yes
Bike Paths: Yes
Tennis Courts: Yes

Interior Features

Drapes/Blinds Incl: Yes
Smoke Alarms: Yes
Storage: Yes
Window Treatments: Yes

Windows/Doors

Single Hung Windows: Yes
Sliding Glass Doors: Yes

Security

Patrolled Area: Yes

Construction

CBS: Yes

Land Size

Less Than 1/4 Acre: Yes

Furnished

Furnished: Yes

Terms

Cash: Yes
Conventional: Yes
FHA: Yes
VA: Yes

Utilities

Cable Available: Yes
Community Swr Plant: Yes
Elect Separate Meter: Yes
FKAA: Yes
Municipal Sewer: Yes
Water Separate Meter: Yes

Title

Negotiable: Yes

Exterior Features

Fencing: Yes
Privacy Wall/Fence: Yes

Pre-Wired

Cable: Yes

Roof

Metal Roof: Yes

Shutters

Panel: Yes

Property Features

Fee Includes: None Tax Exemptions: None Waterfront: Canal Front Waterview: Canal View Vehicle Storage: RV Parking Open; Trailer Storage Furnished: Furnished Cooling: Ceiling Fans(s); Central Air Utilities: Cable Available; Community Swr Plant; Elect Separate Meter; FKAA; Municipal Sewer; Water Separate Meter Interior Features: Drapes/Blinds Incl; Smoke Alarms; Storage; Window Treatments Pre-Wired: Cable Appliances: Dishwasher; Dryer; Microwave; Oven; Range; Refrigerator; Stainless Steel Appliance(s); Washer Exterior Features: Fencing; Privacy Wall/Fence Construction: CBS Shutters: Panel Floor: Tile Roof: Metal Roof Pets: Pets Allowed Neighborhood Feature: Beach; Bike Paths; Tennis Courts Security: Patrolled Area Land Size: Less Than 1/4 Acre Terms: Cash; Conventional; FHA; VA Title: Negotiable

Documents

Vacation Rental Reviews ›

Listing Office: Island Breeze Realty, LLC

Last Updated: August - 08 - 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.

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