Discover an exceptional unique investment opportunity in the heart of Marathon. This sprawling 8,292-square-foot property showcases six income-generating residential 1 bed / 1 bath apartments and two 2 very tall and spacious (3,000+ sq. ft) warehouse/storage buildings (former airplane hangars) w/ half baths in each. The annual rent roll is currently $118,200 with occupancy rates consistently near 100% across many years (and without ever increasing rent rates to our loyal long-term tenants). Based on the appraisal (included in the listing), the market will support a rent roll of $153,286. The property's versatile layout presents numerous possibilities for generating rental income, with separate living spaces that can accommodate long-term tenants or short-term rentals. A distinctive feature of this property is its industrial capabilities, including warehouse space (airplane hangars), offering unique potential for both residential and commercial ventures.Perfectly positioned in the Middle Keys, this property provides easy access to local amenities including the Marathon International Airport, numerous bars and restaurants, shopping, public transportation, and the renowned Sombrero Beach area. The lack of reasonable housing in the Keys ensures that this property is always in high demand to potential renters, and we see very little turnover for our long-term tenants. This property conveys with 2 Affordable Building Rights with an option to take over 4 additional in the queue for approval. Located in a certified Opportunity Zone, there are significant tax benefits to the potential buyer. Whether you're seeking a lucrative investment property, a unique residential compound with additional warehouse/storage capabilities, or an income-generating property with the potential to create the most impressive man cave in the Keys, this versatile property delivers exceptional value in one of Florida's most desirable locations.

Listing courtesy of FLKMLS / Keystime Vacation Rentals

Last checked: Checking… • Last updated Apr 23, 2025 • Source: FLKMLS

MLS# 614155 — Report a problem