10833 2nd Avenue Gulf Avenue, Marathon, FL 33050

$898,000
Property Type: Residential Bedrooms: 5 Baths: 3 Square Footage: 2,111 Lot Size (sq. ft.): 4,428 Status: Active
Current Price: $898,000 List Date: 8/03/2026 Last Modified: 9/28/2026

Description

LETTER OF DETERMINATION WITH 3 RIGHTS | SELLER FINANCING | INCOME-PRODUCING TRIPLEX IN MARATHON Building rights are the scarcest asset in the Florida Keys, and this property comes with a Letter of Determination confirming 3 rights. That makes it an opportunity to hold, improve, or reposition a triplex in the Middle Keys with the entitlements already documented. Seller financing is available: $500,000 down over a 5-year term at a competitive rate, a real advantage in today's rate environment. The Property: Three fully renovated units, all currently leased: Unit 1: 2BR/1BA, spacious layout, modern open-concept interior Unit 2: 2BR/1BA, fully renovated Unit 3: Efficiency with a well-equipped kitchenette, ideal for a single tenant or short-term renter Tenants are on flexible month-to-month leases, which gives a buyer immediate cash flow and room to change course later. Ample on-site parking keeps the property easy to manage. Location: In the heart of Marathon, minutes from shops, restaurants, and everything the Middle Keys lifestyle offers. Who It's For: Investors building a rental portfolio, or an owner-occupant who wants to live in one unit and let the other two help cover the cost of ownership. Schedule your private showing today. Properties with documented building rights and owner financing don't come along often in Marathon.

More Information MLS# 620847

Contract Information

Current Price: $898,000 Listing Date: 2026-08-03 Listing Board: Florida Keys List Price: $898,000 As is Rght to Inspct: Yes Species List: No

Location Tax Legal

Street #: 10833 Street Name: 2nd Avenue Gulf Street Suffix: Avenue Key/Island: Marathon State/Province: FL Zip Code: 33050 County: Monroe Subdivision: Key Colony Sub (53.0) Area: 15 - Sombrero Bch Rd to Vaca Cut Gulfside

General Property Description

Realtor.COM Type: Multi-family Style: Multi-Units Waterfront: No Pool: No Year Built: 1959 Lot Size: X Lot SqFt: 4428 Lot Sqft Source: Property Data Card Acres: 0.1 Living Apx SqFt: 2111 SqFt Source: Property Data Card Total Bedrooms: 5 Full Baths: 3 Total Baths: 3 Rentals Allowed: Yes Min Rental Days: 7

Status Change Info

Status: Active

Association Info

Mandatory Home Owners Asc: No 1st Right of Refusal: No

Building Style

Above Flood: Yes

Property Features

Fee Includes: None Tax Exemptions: None Waterfront: None Waterview: No Waterview Dockage: None Cooling: Ceiling Fans(s); Wall/Window Unit(s) Utilities: FKAA Appliances: Dishwasher; Dryer; Microwave; Oven; Refrigerator; Washer Accessibility Feat: Parking Construction: Concrete Roof: Other Roof Pets: Pets Allowed Land Size: Less Than 1/4 Acre Terms: Seller Finance Psble
Listing Office: Coldwell Banker Schmitt Islamorada
Last Updated: September - 28 - 2026
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