101 11Th Street Ocean Marathon, FL 33050
- Residential income homes
- 1,000 SF
Current Use by Public Records
- Ocean Breeze Marathon / Property Management Company / Resort Hotel
- 35 Ocean Breeze Marathon / Holiday Home
Property Details for 101 11Th Street Ocean
- Year built
- 2021
- Property size
- 1,000 SF
- Property type
- Residential income homes
Description
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.
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Location Insight
- Map
- Local Demand
- City
- Marathon
- County
- Monroe
- State
- Florida
- Longitude
- -81.1138
- Latitude
- 24.7076
