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Waterfront Duplex: Income and Flexibility

461 & 471 3rd Street, Key Colony Beach, FL 33051

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For Sale

Under Contract

$1,848,000

MULTI_FAMILY - Key Colony, FL

Property size:

2,528 SF

Lot size:

0.16 Acres

Price / SF:

$731/SF

HighLights

Duplex built in 1997 with two 3BD/2BA units, each with private entrances and parking
Waterfront deep‑water dockage with 60 ft of dock and immediate ocean access
Approx. $100K/year rental income from a vacation rental established for 10+ years
Furnished for immediate use, with washer/dryer, dishwasher, refrigerator, range/oven, and microwave included
Built above flood with CBS construction and a metal roof
Central air, tile flooring, storage, plus RV parking and privacy fencing/privacy wall

We can help!

Listing Contact

David N. Grego

For Sale

Under Contract

$1,848,000

MULTI_FAMILY - Key Colony, FL

Property size:

2,528 SF

Lot size:

0.16 Acres

Price / SF:

$731/SF

Added:: May 28, 2025
Days on Market:: 386
Last Refresh:: Jun 17 at 1:06 am

Property Features for 461 & 471 3rd Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Zoning: R-2A - Key Colony Two Fam
Bedrooms: 6
Bathrooms: 4
Rooms: Bathroom 2, Bedroom 1, Bathroom 4, Bedroom 5, Bedroom 6, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 2
Parking features: RV
Pets allowed: Yes
Interior features: Storage
Exterior features: Fencing, Privacy Wall/Fence
Fencing: Fenced, Privacy
Appliances: Washer, Dryer, Dishwasher, Refrigerator, Range, Oven, Microwave, Stainless Steel Appliance(s)
Standard status: Active Under Contract
APN: 00072850-000000
Size: 2,528 SF
Lot size: 0.16 Acres

Taxes and HOA fees

Tax Year: 2024
Tax Description: BK 3 S 1/2 LOT 19 KEY COLONY BEACH PB3-120 SHELTER KEY OR318-468/69 OR354-87/88 OR635-14/15 OR871-1174 OR913-985 OR1398
Tax Annual Amount: 6941

Utilities

Utilities: Cable Available
Cooling system: Central Air
Water front: 1

Building Details

Year built: 1997
Number of units: 2
Flooring type: Tile
Building materials: CBS
Roof type: Metal
Additional Structures: Storage

We can help!

Listing Contact

David N. Grego

Listing agent David N. Grego License #3107004

Listing office Island Breeze Realty, LLC 12220 OVERSEAS HIGHWAY, Marathon, FL

Listing date May 28, 2025

MLS# 615206 Listing URL

Copyright © 2026 Marathon and Lower Keys Association 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.

HighLights

Duplex built in 1997 with two 3BD/2BA units, each with private entrances and parking
Waterfront deep‑water dockage with 60 ft of dock and immediate ocean access
Approx. $100K/year rental income from a vacation rental established for 10+ years
Furnished for immediate use, with washer/dryer, dishwasher, refrigerator, range/oven, and microwave included
Built above flood with CBS construction and a metal roof
Central air, tile flooring, storage, plus RV parking and privacy fencing/privacy wall

Overview

This fully furnished, turnkey waterfront duplex offers income potential and flexibility. The property, generating approximately $100,000 per year in rental income, has been a vacation rental for over 10 years. Constructed above flood level, the duplex features two spacious 3-bedroom, 2-bathroom units, each with private entrances and parking. The property includes 60 feet of deep-water dockage on a wide canal, providing immediate ocean access. Two private waterfront outdoor living spaces are enhanced by tropical landscaping and privacy fencing. The property is suitable for renting both units, living in one and renting the other, or use as a multi-family retreat. The location is approximately 1/4 mile from the Cabana Club and close to beaches, dining, and shopping. The lot size is 0.16 acres and the property size is 2528 square feet. The property is located in Key Colony, FL.

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Map

City: Key Colony Beach
County: Monroe
State: Florida
Longitude: -81.015419
Latitude: 24.72435

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For sale
Duplexes
FL
Key Colony Beach
33051
461 & 471 3rd Street

What type of property is this?

Duplex - Turnkey waterfront duplex generating approximately $100K/year in rental income.

Where is this duplex located?

The property is located at 461 & 471 3rd Street Key Colony Beach, FL.

What is the asking price?

The asking price for this property is $1,848,000.

What are key features of this property?

This property features: Duplex built in 1997 with two 3BD/2BA units, each with private entrances and parking; Waterfront deep‑water dockage with 60 ft of dock and immediate ocean access; Approx. $100K/year rental income from a vacation rental established for 10+ years

461 & 471 3rd Street, Key Colony Beach, FL 33051

MULTI_FAMILY - Key Colony, FL

Property Features for 461 & 471 3rd Street

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Map

Nearby Similar for Sale

Waterfront Duplex with Rental Potential

Canal-Front Duplex with Rental History

Profitable Business Opportunity in Florida

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