1530 Ocean Bay Drive Unit 508
Key Largo, FL 33037
Map
- 2 beds
- 2 baths
- 1,188 sqft
- 1,322 sqft lot
- $690 per sqft
- 1993 build
- – on site
Turnkey investment opportunity in the heart of Key Largo! This property qualifies for special financing where personal income verification is not required. Approval is based solely on the property's proven or projected rental income, making it an ideal opportunity for investors seeking a high-return vacation rental or short-term rental property. Property has potential to generate over $100,000 per year in rental income. This updated 2BR/2BA condo at Kawama Yacht Club Tower (Unit 508) is being sold as a potentially high-performance short-term rental. Rare legal daily rental zoning ideal for maximizing occupancy and cash flow. Fully furnished, impact windows, beautifully maintained, and ready to generate revenue from day one. Resort amenities include marina, pools, beach, tennis, pickleball and 24/7 gated security. Excellent ROI in one of the most desirable waterfront communities in the Florida Keys.
Last checked:
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Last updated Jul 4, 2025
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MLS# 615672 —
The Building
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Year Built:1993
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Construction:CBS, Stucco
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Style:Condo
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Unit #:508
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Exterior Features:Tennis Court(s)
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Windows/Doors:Impact Rstnce Window, Impact Rstnce Doors
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Porch/Balcony:Open Porch/Balcony
Interior
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Furnished:Furnished
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Interior Features:Drapes/Blinds Incl, Built-in Cabinets, Window Treatments, Walk-in Closet(s), Smoke Alarms, Elevator, Granite Counter Top
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Floor:Laminate
Financial & Terms
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Terms:Cash, Conventional
The Property
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Parcel #:00090495-000508
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Total Lots:48.00
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Lot SqFt:1322.00
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Land Size:10 or more Acres
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Waterfront:Oceanfront
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Zoning:MI - Maritime Industries District
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Waterfront:Yes
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Waterview:Ocean View
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Flood Zone:AE,AE
Listing Agent
- Contact info:
- Agent phone:
- (305) 721-5775
- Office phone:
- (305) 200-1125
Taxes
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Tax Year:2024
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Taxes:4719.29
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Tax Exemptions:None
Beds
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Total Bedrooms:2
Baths
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Total Baths:2.00
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Full Baths:2
The Listing
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Bank Owned:No
Heating & Cooling
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Heating:Hot Water
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Cooling:Ceiling Fans(s)
Utilities
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Utilities:Cable Available
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Pre-Wired:Cable
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Pub Sewer HkUp:Yes
Appliances
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Appliances:Washer, Disposal, Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
The Community
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Subdivision:Kawama Tower (100.0)
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Pool Info:In Ground
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Pool Info: Heated:Yes
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Dockage:Boat Ramp
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Pets:Pets Allowed
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Fee Includes:Cable, Security, Common Area Mnt, Building Insurance, Bldg Exterior Mnt, Exterminating, Sewer
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Association Info: Association Fee $:1055.00
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Association Info: Maintenance Fee $:385.00
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Association Info: Mandatory Home Owners Asc:Yes
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Association Info: Assoc/Mnt Fee Per:Monthly
Parking
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Vehicle Storage:Open Parking
Monthly cost estimate
Asking price
$819,900
| Expense | Monthly cost |
|---|---|
|
Mortgage
This calculator is intended for planning and education purposes only. It relies on assumptions and information provided by you regarding your goals, expectations and financial situation, and should not be used as your sole source of information. The output of the tool is not a loan offer or solicitation, nor is it financial or legal advice. |
$4,390
|
| Taxes | $393 |
| Insurance | $225 |
| Utilities | $122 See report |
| Total | $5,130/mo.* |
| *This is an estimate |
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Air Pollution Index
Provided by ClearlyEnergy
The air pollution index is calculated by county or urban area using the past three years data. The index ranks the county or urban area on a scale of 0 (best) - 100 (worst) across the United Sates.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
7/3/25
Jul 3, 2025
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Listed / Active | FLKMLS | $819,900 | 205.9% (17.0% / YR) |
|
5/23/13
May 23, 2013
|
FLKMLS | $268,000 |
