CBS Triplex with Waterfront
For Sale
$2,899,000
127 & 121 Monroe Dr. 1-3, Islamorada, FL 33070
MULTI_FAMILY - Islamorada, FL
Property Size2,409 SF
Price / SF$1,203
Days on Market12
Property Features for 127 & 121 Monroe Dr. 1-3
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
MF - Multi-Family At
Bedrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 4, Bathroom 3, Bedroom 4, Bathroom 2
Parking
10
Subdivision
Vacation Village-AMD (89)
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
00417500000100
Size
2,409 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
BK 1 W 1/2 LOT 4 VACATION VILLAGE AMND AND EXTENDED PB5-69 PLANTATION KEY OR528-881 OR1316-2492 OR2973-641 OR2973-642 OR
Tax Annual Amount
21308
Legal Description
BK 1 W 1/2 LOT 4 VACATION VILLAGE AMND AND EXTENDED PB5-69 PLANTATION KEY OR528-881 OR1316-2492 OR2973-641 OR2973-642 OR
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Ceiling Fan(s), Wall/Window Unit(s), Window Unit(s)
Water front features
Canal Access, Ocean Access
Water front
1
Building Details
Year built
1972
Floors in Building
2
Flooring type
Tile, Laminate
Building materials
Block
Roof type
Concrete
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Ewa Schwarz · License #3354704
(305) 781-5704
Added: Jul 31
Changed: Aug 11
Last Checked: Aug 11 at 10:06PM
MLS# A12061389
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This CBS triplex income property includes 3 rental units with full kitchens and baths: two 1-bedroom/1-bath units and one 2-bedroom/2-bath unit. The building was constructed in 1972 and features laminate and tile flooring, along with window unit and ceiling fan cooling plus wall/window unit(s). The property totals 2,409 square feet on a 7,500 square foot lot, with outdoor living areas and abundant on-site parking.
Units 1 and 3 were renovated with updated interiors. In 2025, the dock electric was upgraded with a dedicated meter for dock power, with one meter on each property. The offering also includes the adjacent multifamily lot at 121 Monroe Drive, described as about 7,500 square feet and ready for development.
Additional context includes waterfront access noted as canal access and ocean access. Cable is available and sewer is public sewer, with a concrete roof. Free access to Founders Park is also mentioned, including a sandy beach, swimming pool, boat ramp, playground, tennis, pickleball, walking paths, sports fields, and a dog park.
Units 1 and 3 were renovated with updated interiors. In 2025, the dock electric was upgraded with a dedicated meter for dock power, with one meter on each property. The offering also includes the adjacent multifamily lot at 121 Monroe Drive, described as about 7,500 square feet and ready for development.
Additional context includes waterfront access noted as canal access and ocean access. Cable is available and sewer is public sewer, with a concrete roof. Free access to Founders Park is also mentioned, including a sandy beach, swimming pool, boat ramp, playground, tennis, pickleball, walking paths, sports fields, and a dog park.
Key Highlights
- 2,409 sq ft CBS triplex on a 7,500 sq ft lot with canal access and ocean access
- Three rental units: 1/1, 1/1, and 2/2 with full kitchens and baths
- Units 1 and 3 renovated with updated interiors
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
Business Placement
Demographics for 33070, FL
6,220
Population
4,366
Households
1.4
Avg Household Size
52
Median Age
35%
College-Educated
93%
High-School Grad
4.2 sq mi
ZIP Area
1,481
Density / Sq Mi
$77,228
Median Household Income
$40,511
Median Earnings
$1,866
Median Rent
$695,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - CBS triplex with three rental units, canal and ocean access, and abundant on-site parking in Islamorada.
Where is this triplex located?
The property is located at 127 & 121 Monroe Dr. 1-3 Islamorada, FL.
What is the asking price?
The asking price for this property is $2,899,000.
What are key features of this property?
This property features: 2,409 sq ft CBS triplex on a 7,500 sq ft lot with canal access and ocean access; Three rental units: 1/1, 1/1, and 2/2 with full kitchens and baths; Units 1 and 3 renovated with updated interiors
