127 & 121 Monroe Drive 1-3, Plantation Key, FL 33070
$2,399,000
Property Type:
Residential
Bedrooms:
4
Baths:
4
Square Footage:
2,409
Lot Size (sq. ft.):
15,000
Status:
Active
Current Price:
$2,399,000
List Date:
6/15/2026
Last Modified:
6/15/2026
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
- Unit #
- 1-3
- City
- Tavernier
- Mile Marker
- 89
- Marathon Neighborhood
- N/A
- Side
- Bay/Gulf
- Flood Zone
- AE
- Alternate Key #
- 1513661
- Add'l Parcel #1
- 00417500-000000
- Parcel #
- 00417500-000100
- Zoning
- MF - Multi-Family Attached
- Deed Restrictions
- Unknown
- Legal
- BK 1 W 1/2 LOT 4 VACATION VILLAGE AMND AND EXTENDED PB5-69 PLANTATION KEY OR528-881 OR1316-2492 OR2973-641 OR2973-642 OR
- Taxes
- 21307.86
- Tax Year
- 2025
- Pub Sewer HkUp
- Yes
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
- Association Fee $
- 0
Dockage
- Dock Length
- 120
- Dock
- Concrete
More Information
Building Style
- Above Flood
- Unknown
- Stories
- 2 Stories
Vehicle Storage
- Car(s)
- 4+
- Guest Parking
- Yes
- Open Parking
- Yes
- RV Parking Open
- Yes
- Off Street Parking
- Yes
- Trailer Storage
- Yes
Financial Status
- Bank Owned
- No
- Potential Short Sale
- No
- Standard Sale
- Yes
Remarks & Misc
- Remarks – Consumer
- 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, covered parking with storage, or enhanced outdoor spaces to create a cohesive compound and boost rental revenue. Multifamily waterfront land in Islamorada is limited, and demand for quality rentals remains strong. With recent upgrades already completed and easy access to the mainland, this combined offering is a great opportunity for investors, 1031 buyers, or owner-operators who want a flexible Keys property with income today and room for future build-out and long-term appreciation. Free access to Founders Park, with sandy beach, swimming pool, boat ramp, playground, tennis, pickleball, walking paths, sports fields, dog park and daily fun activities and regular events.
Fee Includes
- None
- Yes
Tax Exemptions
- None
- Yes
Appliances
- Dishwasher
- Yes
- Dryer
- Yes
- Microwave
- Yes
- Oven
- Yes
- Refrigerator
- Yes
- Stainless Steel Appliance(s)
- Yes
- Washer
- Yes
Pets
- Pets Allowed
- Yes
Cooling
- Ductless
- Yes
Heating
- Ductless
- Yes
Waterfront
- Canal Front
- Yes
Waterview
- Canal View
- Yes
Floor
- Laminate
- Yes
- Tile
- Yes
Neighborhood Feature
- Beach
- Yes
- Bike Paths
- Yes
- Clubhouse
- Yes
- Community Boat Ramp
- Yes
- Community Pool
- Yes
- Tennis Courts
- Yes
Interior Features
- Drapes/Blinds Incl
- Yes
Windows/Doors
- Impact Rstnce Window
- Yes
- Other Windows/Doors
- Yes
Construction
- CBS
- Yes
Land Size
- 1/4 - 1/2 Acre
- Yes
Furnished
- Unfurnished
- Yes
Terms
- Cash
- Yes
- Conventional
- Yes
- FHA
- Yes
- No Seller Finance
- Yes
- VA
- Yes
Utilities
- Cable Available
- Yes
- Elect Separate Meter
- Yes
- FKAA
- Yes
- Municipal Sewer
- Yes
Porch/Balcony
- Screened P/B
- Yes
- Screened Patio
- Yes
Title
- Negotiable
- Yes
Exterior Features
- Chickee Hut
- Yes
Roof
- Concrete Roof
- Yes
Shutters
- Accordion
- 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
Building Right Letter ›
Listing Office:
LoKation Real Estate - Pompano Beach
Last Updated: June - 15 - 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.