Renovated Three-Unit
New
For Sale
$979,000
10833 2nd Avenue Gulf, Marathon, FL 33050
MULTI_FAMILY - Marathon, FL
Property Size2,111 SF
Lot Size0.10 Acres
Price / SF$463.76
Days on Market2
Property Features for 10833 2nd Avenue Gulf
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM - Residential Medium
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 5
Pets allowed
Yes
Appliances
Washer, Dryer, Dishwasher, Refrigerator, Oven, Microwave
Subdivision
Key Colony Sub (53.0)
View
Water
Standard status
Active
APN
00333710-000000
Size
2,111 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LT 5 KEY COLONY SUBDIVISION NO 1 KEY VACA PB3-107 OR48-199 OR174-200 OR950-389 OR2650-1282 OR2810-827
Tax Annual Amount
6478
Legal Description
LT 5 KEY COLONY SUBDIVISION NO 1 KEY VACA PB3-107 OR48-199 OR174-200 OR950-389 OR2650-1282 OR2810-827
Utilities
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1959
Building materials
Concrete
Roof type
Other
Listing Agency:
Coldwell Banker Schmitt Islamorada
(305) 664-4470
Listed By:
Kristin Herold · License #3578801
(310) 421-5543
Added: Aug 3
Last Checked: Aug 4 at 12:06PM
MLS# 620847
Copyright © 2026 Florida Keys Board of 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 2,111-square-foot triplex includes two two-bedroom, one-bath units and a separate efficiency with a kitchenette. Each residence has been updated, and all three units are occupied under month-to-month leases. The property was built in 1959 on a 0.1-acre lot, with concrete construction and window or wall/window unit cooling. Appliances include washers, dryers, dishwashers, refrigerators, ovens, and microwaves.
Located in Marathon, the property offers access to nearby shops and restaurants within the Middle Keys. RM - Residential Medium zoning applies, and a Letter of Determination with 3 rights is available. On-site parking supports the existing three-unit configuration.
Located in Marathon, the property offers access to nearby shops and restaurants within the Middle Keys. RM - Residential Medium zoning applies, and a Letter of Determination with 3 rights is available. On-site parking supports the existing three-unit configuration.
Key Highlights
- Three‑unit property with two 2BR/1BA residences and one efficiency unit
- 2,111 square feet on a 0.1‑acre lot
- All three units currently leased on month‑to‑month terms
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.0k | $25.56 |
| − Vacancy | −$3.4k | −$1.63 |
| EGI | $50.5k | $23.93 |
| − OpEx | −$15.2k | −$7.18 |
| NOI | $35.4k | $16.75 |
2,111 SF · lease $25.56/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$505.2K
$442.1K – $589.4K
NOI $35,364 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$468.0K
$409.5K – $546.0K
NOI $32,758 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$849.1K
$743.0K – $990.7K
NOI $59,439 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
Business Placement
Demographics for 33050, FL
10,479
Population
7,314
Households
1.4
Avg Household Size
50
Median Age
34%
College-Educated
90%
High-School Grad
9.1 sq mi
ZIP Area
1,152
Density / Sq Mi
$83,243
Median Household Income
$40,006
Median Earnings
$1,611
Median Rent
$705,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three leased units combine flexible month-to-month occupancy with updated interiors and on-site parking.
Where is this triplex located?
The property is located at 10833 2nd Avenue Gulf Marathon, FL.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: Three‑unit property with two 2BR/1BA residences and one efficiency unit; 2,111 square feet on a 0.1‑acre lot; All three units currently leased on month‑to‑month terms
