1500 Ocean Bay Drive B3, Key Largo, FL 33037 (MLS# 617764)

1500 Ocean Bay Drive B3, Key Largo, FL 33037

$819,900

060525 Valbuena Kawama Unit B3 SIZED dfp

Property Type: Residential Bedrooms: 2 Baths: 2 Square Footage: 748 Status: Active

Current Price: $819,900 List Date: 12/19/2025 Last Modified: 3/31/2026

Overview

Description

One of the very few properties in Key Largo that allows daily rentals, making it a highly desirable business opportunity for passive income. The property has the ability to generate over $100,000 annually. Ideally located directly in front of the pool, it offers a beautiful view of the saltwater lagoon and resort-style pool, enhancing both guest appeal and rental demand.

Listing Details MLS# 617764

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 Yacht Club (100.0)
Area: 27 - Key Largo MM 97-107
Unit #: B3
City: KEY LARGO
Off Shore Island: No
Mile Marker: 100
Marathon Neighborhood: N/A
Side: Ocean
Flood Zone: AE
Alternate Key #: 1102644
Handicap Access: No
Parcel #: 00090491-000203
Zoning: UR - Urban Residential Distrit
Deed Restrictions: No
Legal: UNIT 3 KAWAMA YACHT CLUB OF KEY LARGO PHASE ONE SEC ONE BLDG B OR686-798 OR1984-1033 OR2558-1019 OR2940-0643 OR3288-1338
Taxes: 5701.85
Tax Year: 2025
Pub Sewer HkUp: Yes

Contract Information

Listing Board: Florida 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
Pool: Yes
Year Built: 1975
Living Apx SqFt: 748
SqFt Source: Tax Records
Total Bedrooms: 2
Full Baths: 2
Total Baths: 2
Rentals Allowed: Yes
Min Rental Days: Yes
Control Depth: 0
Lot SqFt: 0
Total Units: 0

Association Info

Mandatory Home Owners Asc: Yes
1st Right of Refusal: No
Association Fee $: 850
Maintenance Fee $: 385
Assoc/Mnt Fee Per: Monthly

License Info

# of City License: Yes
# of County License: Yes
Transient Rntl Licns: Yes

More Information

Building Style

Above Flood: Yes
A-Frame: Yes
Townhouse: Yes

Financial Status

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

Remarks & Misc

Remarks – Consumer: One of the very few properties in Key Largo that allows daily rentals, making it a highly desirable business opportunity for passive income. The property has the ability to generate over $100,000 annually. Ideally located directly in front of the pool, it offers a beautiful view of the saltwater lagoon and resort-style pool, enhancing both guest appeal and rental demand.

Fee Includes

Building Insurance: Yes
Cable: Yes
Common Area Mnt: Yes
Sewer: Yes

Dockage

First Come Dock: Yes

Tax Exemptions

None: Yes

Appliances

Dishwasher: Yes
Dryer: Yes
Ice Machine: Yes
Microwave: Yes
Oven: Yes
Range: Yes
Stainless Steel Appliance(s): Yes
Trash Compactor: Yes
Washer: Yes

Pets

Pets Allowed: Yes

Cooling

Ceiling Fans(s): Yes
Central Air: Yes

Waterfront

Lake Front: Yes

Waterview

Lake View: Yes

Floor

Tile: Yes

Neighborhood Feature

Beach: Yes
Community Boat Ramp: Yes
Community Dockage: Yes
Community Pool: Yes
Manager on Premises: Yes
Tennis Courts: Yes

Interior Features

Built-in Cabinets: Yes
Drapes/Blinds Incl: Yes
Quartz Countertops: Yes
Smoke Alarms: Yes
Window Treatments: Yes

Windows/Doors

Impact Rstnce Doors: Yes
Impact Rstnce Window: Yes

Vehicle Storage

Open Parking: Yes
Off Street 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
Other Specify: Yes

Utilities

Cable Available: Yes
Municipal Sewer: Yes

Porch/Balcony

Open Porch/Balcony: Yes
Patio: Yes
Screened P/B: Yes

Title

Title Ins - Buyer: Yes

Exterior Features

Built-in Grill: Yes
Chickee Hut: Yes
Gazebo: Yes
Lighting: Yes
Outdoor Kitchen: Yes
Rain Gutters: Yes
Sandy Beach: Yes
Tennis Court(s): Yes

Pool Info

In Ground: Yes

Pre-Wired

Cable: Yes

Roof

Metal Roof: Yes

Accessibility Feat

None: Yes

GF-Interior Features

Dual Flush: Yes
Programmable Thermst: Yes
Tankless Hot Wtr Htr: Yes

Property Features

Fee Includes: Building Insurance; Cable; Common Area Mnt; Sewer Tax Exemptions: None Waterfront: Lake Front Waterview: Lake View Dockage: First Come Dock Building Style: A-Frame; Townhouse Vehicle Storage: Off Street Parking; Open Parking Furnished: Furnished Cooling: Ceiling Fans(s); Central Air Utilities: Cable Available; Municipal Sewer Interior Features: Built-in Cabinets; Drapes/Blinds Incl; Quartz Countertops; Smoke Alarms; Window Treatments Pre-Wired: Cable Appliances: Dishwasher; Dryer; Ice Machine; Microwave; Oven; Range; Stainless Steel Appliance(s); Trash Compactor; Washer Exterior Features: Built-in Grill; Chickee Hut; Gazebo; Lighting; Outdoor Kitchen; Rain Gutters; Sandy Beach; Tennis Court(s) Accessibility Feat: None Pool Info: In Ground Construction: CBS Floor: Tile Roof: Metal Roof Pets: Pets Allowed Neighborhood Feature: Beach; Community Boat Ramp; Community Dockage; Community Pool; Manager on Premises; Tennis Courts Security: Manned Gate Land Size: Less Than 1/4 Acre Terms: Cash; Conventional; Other Specify Title: Title Ins - Buyer GF-Interior Features: Dual Flush; Programmable Thermst; Tankless Hot Wtr Htr

Listing Office: Pedrin of Miami Realty, Inc.

Last Updated: March - 31 - 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.