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    101 11Th Street Ocean Marathon, FL 33050

    For Sale
    $629,000

    Luxury 2-bed, 1.5-bath vacation rental.

    Property size:
    1,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional oceanfront property in Marathon, Florida, presents a unique investment opportunity. Boasting 1,000 square feet of living space, this 2021-built, two-story home sits on a 100,754 sq ft lot and offers stunning ocean and sunset views. The property is a single-unit, Class A multifamily investment, currently operating as a successful vacation rental with a 30-day minimum stay. The asking price is $629,000, representing a compelling $629 per square foot and a 15.83% cap rate with a $99,600 NOI. High-quality modular construction ensures durability, meeting 185 mph wind resistance standards, and includes a transferable 10-year warranty. The ground lease carries a monthly cost of $1,500-$1,600, encompassing amenities like a community lounge, fire pits, sun deck, outdoor kitchen, pool, and landscaping. Importantly, there are no property taxes or HOA fees. The property is conveniently located near the Seven Mile Bridge, local restaurants, and beaches. A carport is included, with an optional private marina boat slip available. This turnkey investment is perfect for those seeking passive income or a luxurious vacation home, and is well-suited for 1031 exchange opportunities. The property is zoned RM. Scheduled appointments are required for viewings.

    Property Features for 101 11Th Street Ocean

    General Information

    Property type
    Multifamily properties
    Square Feet
    1,000 SF
    Class
    A

    Building Details

    Year Built
    2021
    Units
    1

    HighLights

    • Ground lease with $1,500-$1,600 monthly rent, encompassing amenities and landscaping; no property taxes or HOA fees.
    • High‑quality modular construction (January 2021), featuring 185 mph wind resistance.
    • Transferable 10‑year warranty included.
    • Exceptional entry point into a highly competitive market.
    • Oceanfront location in Marathon, Florida, offering sunrise/sunset views; 2‑bedroom, 1.5‑bathroom, 1,000 sq ft home built in 2021.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ocean Breeze Marathon Property Management Company 35 Ocean Breeze ... Holiday Home

    Suggested Use

    Restaurant Law Firm Realty agency Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Marathon
    County
    Monroe
    State
    Florida
    Longitude
    -81.113768650625
    Latitude
    24.707556309677

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    FAQs

    What type of property is this?
    Multifamily property - Luxury 2-bed, 1.5-bath vacation rental.
    Where is this multifamily property located?
    The property is located at 101 11Th Street Ocean Marathon, FL.
    What is the asking price?
    The asking price for this property is $629,000.
    What are key features of this property?
    This property features: Ground lease with $1,500-$1,600 monthly rent, encompassing amenities and landscaping; no property taxes or HOA fees.; High-quality modular construction (January 2021), featuring 185 mph wind resistance.; Transferable 10-year warranty included.
    (407) 404-1846
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    101 11Th Street Ocean Marathon, FL 33050
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    101 11Th Street Ocean Marathon, FL 33050
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