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571 8th Street, Key Colony, FL 33051

$1,995,000
Property Type: Residential Bedrooms: 5 Baths: 4 Square Footage: 2,333 Lot Size (sq. ft.): 8,250 Status: Active
Current Price: $1,995,000 List Date: 8/25/2025 Last Modified: 12/08/2025

Description

Embrace the laid back charm of the Florida Keys with this beautifully renovated full duplex in the highly sought after community of Key Colony Beach. This turnkey property features five bedrooms, four bathrooms, and is licensed for 7-night weekly rentals, making it ideal for both personal use and income generation. Fully updated from top to bottom, each unit boasts modern kitchens with new appliances, renovated bathrooms, impact-rated windows and doors, stylish finishes, in-unit laundry, and separate electric meters. The upstairs unit features two bedrooms and two bathrooms, accompanied by a covered porch that offers scenic views of the water. The downstairs unit, on the other hand, boasts three bedrooms and two bathrooms, along with a screened-in patio perfect for relaxing outdoors. Outside, enjoy 75 feet of waterfront with a concrete seawall, davits, a fish cleaning station, and direct ocean and bay access via nearby Vaca Cut. The expansive lot features a private salt water pool with a newly installed heater/chiller, outdoor shower, tiki hut, spacious outdoor gathering area, fenced yard, one-car garage, and ample parking for vehicles, trailers, or even an RV. Just steps from biking/walking paths, Sunset Park, tennis and pickleball courts, a golf course, and popular restaurants, this exceptional property offers versatile potential. Live in one unit and rent out the other, co-own with family or friends, or capitalize on the vacation rental investment potential. Don't miss this true Keys gem in one of the most desirable locations in the Middle Keys.

More Information MLS# 616263

Contract Information

Listing Board: Marathon/Lower Keys Species List: No Current Price: $1,995,000 Listing Date: 2025-08-21 List Price: $1,995,000

Location, Tax & Legal

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 #: 1080489 Parcel #: 00075020-000000 Zoning: R-2A - Key Colony Two Family Deed Restrictions: No Legal: BK 9 LT 24 KEY COLONY BEACH FIRST ADDN AMD PLAT PB4-11 SHELTER KEY OR531-482 OR936-699D/C/AFF OR1224-991 OR1280-979M/T O Taxes: 12690.62 Tax Year: 2024 Pub Sewer HkUp: Yes Street #: 571 Street Name: 8th Street Suffix: Street Key/Island: Key Colony State/Province: FL Zip Code: 33051 County: Monroe Subdivision: Key Colony Bch 1st Addn Amd Plat (53.5) Area: 17 - Vaca Cut - Both Sides Holiday Inn/Key Colony

General Property Description

Realtor.COM Type: Multi-family Waterfront: Yes Control Depth: 4 Lot SqFt: 8250 Pool: Yes Lot Sqft Source: Property Data Card Total Units: 0 Acres: 0.19 SqFt Source: Property Data Card Rentals Allowed: With Restrictions Min Rental Days: 7 Style: Duplex Year Built: 1970 Living Apx SqFt: 2333 Total Bedrooms: 5 Full Baths: 4 Total Baths: 4

Remarks & Misc

Remarks – Consumer: Embrace the laid back charm of the Florida Keys with this beautifully renovated full duplex in the highly sought after community of Key Colony Beach. This turnkey property features five bedrooms, four bathrooms, and is licensed for 7-night weekly rentals, making it ideal for both personal use and income generation. Fully updated from top to bottom, each unit boasts modern kitchens with new appliances, renovated bathrooms, impact-rated windows and doors, stylish finishes, in-unit laundry, and separate electric meters. The upstairs unit features two bedrooms and two bathrooms, accompanied by a covered porch that offers scenic views of the water. The downstairs unit, on the other hand, boasts three bedrooms and two bathrooms, along with a screened-in patio perfect for relaxing outdoors. Outside, enjoy 75 feet of waterfront with a concrete seawall, davits, a fish cleaning station, and direct ocean and bay access via nearby Vaca Cut. The expansive lot features a private salt water pool with a newly installed heater/chiller, outdoor shower, tiki hut, spacious outdoor gathering area, fenced yard, one-car garage, and ample parking for vehicles, trailers, or even an RV. Just steps from biking/walking paths, Sunset Park, tennis and pickleball courts, a golf course, and popular restaurants, this exceptional property offers versatile potential. Live in one unit and rent out the other, co-own with family or friends, or capitalize on the vacation rental investment potential. Don't miss this true Keys gem in one of the most desirable locations in the Middle Keys. Directions: Turn off US 1 onto the Key Colony Beach Causeway. Turn right on Ocean Drive. Turn right on 8th Street. The property is three-fourths of the way down on the left.

Association Info

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

Fee Includes

None: 1

Dockage

Dock Length: 75 Dock: Concrete Boat Lift: 1 Davits: 1 Seawall: Concrete

Tax Exemptions

None: 1

Appliances

Dishwasher: 1 Dryer: 1 Freezer: 1 Microwave: 1 Oven: 1 Refrigerator: 1 Washer: 1

Pets

Pets Allowed: 1

Cooling

Ceiling Fans(s): 1 Central Air: 1

Heating

Forced Air: 1

Waterfront

Canal Front: 1

Waterview

Canal View: 1

Property Condition

Updated/Remodeled: 1

Building Style

Above Flood: Unknown Stories: 2 Stories

Windows/Doors

Impact Rstnce Doors: 1 Impact Rstnce Window: 1

Vehicle Storage

Garage: 1 Guest Parking: 1 Open Parking: 1 RV Parking Open: 1 Detached: 1 Off Street Parking: 1 Trailer Storage: 1

Construction

CBS: 1

Land Size

Less Than 1/4 Acre: 1

Furnished

Negotiable: 1

Utilities

Buyer to Verify: 1

Porch/Balcony

Deck: 1 Open Porch/Balcony: 1 Screened Patio: 1

Exterior Features

Chickee Hut: 1 Fencing: 1 Lighting: 1 Outdoor Shower: 1

Pool Info

In Ground: 1 Heated: Yes

Status Change Info

Status: Active

Property Features

Fee Includes: None Tax Exemptions: None Waterfront: Canal Front Waterview: Canal View Dockage: Boat Lift; Davits Property Condition: Updated/Remodeled Vehicle Storage: Garage; Detached; Guest Parking; Off Street Parking; Open Parking; RV Parking Open; Trailer Storage Furnished: Negotiable Cooling: Ceiling Fans(s); Central Air Heating: Forced Air Utilities: Buyer to Verify Appliances: Dishwasher; Dryer; Freezer; Microwave; Oven; Refrigerator; Washer Exterior Features: Chickee Hut; Fencing; Lighting; Outdoor Shower Pool Info: In Ground Construction: CBS Pets: Pets Allowed Land Size: Less Than 1/4 Acre
Listing Office: Ocean Sotheby's International
Last Updated: December - 08 - 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.