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127 & 121 Monroe Drive 1-3, Plantation Key, FL 33070

$2,899,000
Property Type: Residential Bedrooms: 4 Baths: 4 Square Footage: 2,409 Lot Size (sq. ft.): 15,000 Status: Active
Current Price: $2,899,000 List Date: 6/15/2026 Last Modified: 8/18/2026

Overview

Description

Exceptional investment and lifestyle opportunity in the heart of Plantation Key. This offering includes a triplex income property together with the adjacent multifamily lot, giving you both immediate rental income and room to grow. In the Village of Islamorada, it is rare to find side-by-side multifamily parcels in such a convenient, desirable Upper Keys neighborhood. 127 Monroe Drive is a concrete triplex of roughly 2,400 sq ft on a 7,500 sq ft lot, with 3 rental units (1/1, 1/1, 2/2), full kitchens and baths, abundant on-site parking, and comfortable outdoor living areas. Units 1 and 3 were renovated with fresh finishes and updated interiors that attract solid tenants and keep maintenance in check. In 2025, the dock electric was upgraded with a dedicated meter for the dock power, one on each property. Next door, 121 Monroe Drive is an additional multifamily parcel of about 7,500 sq ft, now vacant and ready for your next phase of development. Consider adding more units, a pool, ...

Listing Details MLS# 620278

Location, Tax & Legal

Street #
127 & 121
Street Name
Monroe
Street Suffix
Drive
Key/Island
Plantation Key
State/Province
FL
Zip Code
33070
County
Monroe
Subdivision
Vacation Village - AMD (89.0)
Area
25 - Plantation Key

Contract Information

Listing Board
Florida Keys
Potential Short Sale
No
Bank Owned
No
Species List
No

General Property Description

Realtor.COM Type
Multi-family
Style
Multi-Units
Waterfront
Yes
Control Depth
5
Pool
No
Year Built
1972
Total Units
3
Lot SqFt
15000
Lot Sqft Source
Property Data Card
Acres
0.34
Living Apx SqFt
2409
SqFt Source
Property Data Card
Total Bedrooms
4
Full Baths
4
Total Baths
4
Rentals Allowed
With Restrictions
Min Rental Days
28

Association Info

Mandatory Home Owners Asc
No
1st Right of Refusal
No

Dockage

Dock Length
120
Dock
Concrete

More Information

Building Style

Above Flood
Unknown
# Stories
2 Stories

Vehicle Storage

Car(s)
4+

Financial Status

Bank Owned
No
Potential Short Sale
No
Standard Sale
Yes

Property Features

Fee Includes: None Tax Exemptions: None Waterfront: Canal Front Waterview: Canal View Vehicle Storage: Guest Parking; Off Street Parking; Open Parking; RV Parking Open; Trailer Storage Furnished: Unfurnished Cooling: Ductless Heating: Ductless Utilities: Cable Available; Elect Separate Meter; FKAA; Municipal Sewer Interior Features: Drapes/Blinds Incl Appliances: Dishwasher; Dryer; Microwave; Oven; Refrigerator; Stainless Steel Appliance(s); Washer Exterior Features: Chickee Hut Construction: CBS Shutters: Accordion Floor: Laminate; Tile Roof: Concrete Roof Pets: Pets Allowed Neighborhood Feature: Beach; Bike Paths; Clubhouse; Community Boat Ramp; Community Pool; Tennis Courts Land Size: 1/4 - 1/2 Acre Terms: Cash; Conventional; FHA; No Seller Finance; VA Title: Negotiable

Documents

Listing Office: LoKation Real Estate - Pompano Beach
Last Updated: August - 18 - 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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