1530 Ocean Bay Drive 207, Key Largo, FL 33037
$849,900
Property Type:
Residential
Bedrooms:
2
Baths:
2
Square Footage:
1,188
Status:
Active
Current Price:
$849,900
List Date:
11/27/2025
Last Modified:
12/11/2025
Description
Agent is also the owner. Welcome to Kawama Tower, one of the very few communities in Key Largo that legally allows short-term rentals, making this an exceptional investment opportunity with strong passive-income potential. This property has the potential to generate $80,000-$100,00 in rental income annually. 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# 617490
Contract Information
Listing Board: Florida Keys
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Species List: No
Current Price: $849,900
Listing Date: 2025-11-27
List Price: $849,900
Location, Tax & Legal
Unit #: 207
City: KEY LARGO
Off Shore Island: No
Mile Marker: 100
Marathon Neighborhood: N/A
Side: Bay/Gulf
Flood Zone: AE,AE
Alternate Key #: 8843372
Handicap Access: No
Parcel #: 00090495-000207
Zoning: UR - Urban Residential Distrit
Deed Restrictions: Unknown
Legal: UNIT 207 KAWAMA TOWER A CONDOMINIUM OR1297-769 OR1411-2129/30 OR1411-2131AFF OR1765-1200/01 OR2000-818 OR2314-1297/98 O
Taxes: 3622.07
Tax Year: 2024
Pub Sewer HkUp: No
Street #: 1530
Street Name: Ocean Bay
Street Suffix: Drive
Key/Island: Key Largo
State/Province: FL
Zip Code: 33037
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: 2
Lot SqFt: 0
Pool: Yes
Total Units: 1
SqFt Source: Tax Records
Rentals Allowed: Yes
Min Rental Days: 1
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 rentals, making this an exceptional investment opportunity with strong passive-income potential. This property has the potential to generate $80,000-$100,00 in rental income annually. 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
Fee Includes
Cable: 1
Dockage
None: 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
Central Air: 1
Heating
Central: 1
Hot Water: 1
Waterfront
None: 1
Waterview
Salt Ponds: 1
No Waterview: 1
Floor
Vinyl: 1
Neighborhood Feature
Tennis Courts: 1
Interior Features
Built-in Cabinets: 1
Drapes/Blinds Incl: 1
Elevator: 1
Quartz Countertops: 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
Other Specify: 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
Heated: Yes
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: None
Waterview: Salt Ponds; No Waterview
Dockage: None
Vehicle Storage: Open Parking
Furnished: Furnished
Cooling: Central Air
Heating: Central; Hot Water
Utilities: Cable Available; Municipal Sewer
Interior Features: Built-in Cabinets; Drapes/Blinds Incl; Elevator; Quartz Countertops; 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; Other Specify
Title: Title Ins - Buyer
Listing Office:
Pedrin of Miami Realty, Inc.
Last Updated: December - 11 - 2025
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.
