Turnkey Waterfront Duplex Income
For Sale
Under Contract
$1,848,000
461 & 471 3rd Street, Key Colony Beach, FL 33051
MULTI_FAMILY - Key Colony, FL
Property Size2,528 SF
Lot Size0.16 Acres
Price / SF$731.01
Days on Market431
Property Features for 461 & 471 3rd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2A - Key Colony Two Fam
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 6, Bathroom 1, Bathroom 2, Bathroom 4, Bathroom 3, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 3
Parking features
RV
Pets allowed
Yes
Interior features
Storage
Exterior features
Fencing, Privacy Wall/Fence
Fencing
Privacy, Fenced
Appliances
Washer, Dryer, Dishwasher, Refrigerator, Range, Oven, Microwave, Stainless Steel Appliance(s)
Subdivision
Key Colony Beach (53.5)
Directions
Take Sadowski Causeway, make a left onto E Ocean Dr. Turn left onto 3rd st. Home is on the left
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
Legal 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
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
Listing Agency:
Island Breeze Realty, LLC
(305) 289-8855
Listed By:
David N. Grego · License #3107004
(305) 481-1296
Added: May 28, 2025
Changed: Jul 24
Last Checked: Aug 1 at 7:06AM
MLS# 615206
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.
Investment Insights
Based on property information with market context.
This turnkey waterfront duplex is fully furnished and set up for flexible use with two separate residential units. Each unit offers a spacious 3-bedroom, 2-bath layout with a private entrance and parking, along with private waterfront outdoor living spaces and privacy fencing between the units. The property includes 60 feet of deep-water dockage on a wide canal with immediate ocean access, and it was built above flood.
The duplex is located at 461 & 471 3rd Street in Key Colony, Monroe County, Florida, and is described as about 1/4 mile from the Cabana Club. It is also positioned close to beaches, dining, and shopping, supporting ready-to-use operation or continued rental activity.
The duplex is located at 461 & 471 3rd Street in Key Colony, Monroe County, Florida, and is described as about 1/4 mile from the Cabana Club. It is also positioned close to beaches, dining, and shopping, supporting ready-to-use operation or continued rental activity.
Key Highlights
- Duplex built in 1997 with CBS construction and metal roof, offering two 3BD/2BA units with private entrances and parking
- Approx. $100K/year rental income; established vacation rental history for 10+ years
- 60 ft of deep‑water dockage on a wide canal with immediate ocean access
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Explore this area
Business Placement
Demographics for 33051, FL
790
Population
1,132
Households
0.7
Avg Household Size
63
Median Age
48%
College-Educated
95%
High-School Grad
0.4 sq mi
ZIP Area
1,975
Density / Sq Mi
$94,531
Median Household Income
$38,860
Median Earnings
$1,849
Median Rent
$834,800
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?
Duplex - Fully furnished duplex with two private 3BD/2BA units, parking, and 60 ft of deep-water dockage on a wide canal.
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 CBS construction and metal roof, offering two 3BD/2BA units with private entrances and parking; Approx. $100K/year rental income; established vacation rental history for 10+ years; 60 ft of deep‑water dockage on a wide canal with immediate ocean access
