Triplex with Three Documented
For Sale
$898,000
10833 2nd Avenue Gulf, Marathon, FL 33050
Residential, Marathon, FL
Property Size2,111 SF
Lot Size0.10 Acres
Price / SF$425.39
Days on Market83
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 5, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 4
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
Additional Details
Tenant in Place
Yes
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
Buildings
1
Listing Agency:
Coldwell Banker Schmitt Islamorada
(305) 664-4470
Listed By:
Kristin Herold · License #3578801
(310) 421-5543
Added: Aug 3
Changed: Oct 24
Last Checked: Oct 24 at 4:06PM
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.
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Investment Insights
Based on property information with market context.
This 2,111-square-foot concrete triplex contains three renovated units: two 2-bedroom, 1-bathroom residences and one efficiency with a kitchenette. All are currently leased on month-to-month terms. The property also has on-site parking and a Letter of Determination confirming three building rights. RM - Residential Medium zoning applies.
Set in Marathon, the property is minutes from shops and restaurants. The 0.1-acre site was built in 1959 and includes washer, dryer, dishwasher, refrigerator, oven, and microwave appliances.
Set in Marathon, the property is minutes from shops and restaurants. The 0.1-acre site was built in 1959 and includes washer, dryer, dishwasher, refrigerator, oven, and microwave appliances.
Key Highlights
- Letter of Determination confirms 3 building rights
- 2,111‑square‑foot triplex on a 0.1‑acre site
- Three renovated units: two 2BR/1BA residences and one efficiency
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,364
Cap Rate
3.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,280
$707.3K
Cap Rate 7%
$505,200
$505.2K
Cap Rate 9%
$392,933
$392.9K
Market Conditions
NOI Build-Up for 2,111 SF
Gross rent
$54.0K $25.56/SF
− Vacancy
−$3.4K −$1.63/SF
EGI
$50.5K $23.93/SF
− OpEx
−$15.2K −$7.18/SF
NOI
$35.4K $16.75/SF
Area
Monroe County, FL
Vacancy
6.37%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,280
Cap Rate 7%
$505,200
Cap Rate 9%
$392,933
Alternative Uses
Best Use
Multifamily LT 5
$505.2K
$442.1K – $589.4K
NOI $35,364 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$468.0K
$409.5K – $546.0K
NOI $32,758 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$849.1K
$743.0K – $990.7K
NOI $59,439 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
547
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three leased residences combine two two-bedroom layouts with a separate efficiency.
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 $898,000.
What are key features of this property?
This property features: Letter of Determination confirms 3 building rights; 2,111‑square‑foot triplex on a 0.1‑acre site; Three renovated units: two 2BR/1BA residences and one efficiency
