1530 Ocean Bay Drive 207, Key Largo, FL 33037

$849,900
Property Type: Residential Bedrooms: 2 Baths: 2 Square Footage: 1,188 Status: Active
Current Price: $849,900 List Date: 11/27/2025 Last Modified: 1/27/2026

Description

Agent is also the owner. Welcome to Kawama Tower, one of the very few communities in Key Largo that legally allows short-term daily rentals, making this an exceptional investment opportunity with strong passive-income potential. This property has the potential to generate $80,000-$100,00 in rental income annually. Kawama Tower is approved for DSCR loans that are based solely on potential rental income. Contact Listing agent/ Owner for details. This beautifully updated 2-bedroom, 2-bath condo with a great view has been fully remodeled by a professional interior designer, offering a modern coastal aesthetic, turnkey furnishings, and a spacious layout ideal for both personal enjoyment and rental guests. Located in an oceanfront, gated resort community, this unit offers marina views and access to premium amenities including a private sandy beach, saltwater lagoon, heated pools, tennis courts, playground, boat ramp, on-site security, and more. Highlights: Fully renovated 2/2 with designer finishes Oceanfront community with marina views One of the few Key Largo neighborhoods permitting short-term rentals Turnkey and ready for immediate occupancy or rental Resort amenities: pools, lagoon, beach, tennis, boat ramp, 24/7 security Gated community at MM 100, close to Pennekamp, dining, and shopping This is a rare opportunity to own a high-performing, short-term rental in one of the most desirable oceanfront communities in the Upper Keys.

More Information MLS# 617490

Contract Information

Current Price: $849,900 Listing Date: 2025-11-27 Listing Board: Florida Keys List Price: $849,900 As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No Species List: No

Location Tax Legal

Street #: 1530 Street Name: Ocean Bay Street Suffix: Drive Key/Island: Key Largo State/Province: FL Zip Code: 33037 County: Monroe Subdivision: Kawama Tower (100.0) Area: 27 - Key Largo MM 97-107

General Property Description

Realtor.COM Type: Residential - Condo/Townhouse Style: Condo Waterfront: No Control Depth: 2 Pool: Yes Year Built: 1993 Total Units: 1 Living Apx SqFt: 1188 SqFt Source: Tax Records Total Bedrooms: 2 Full Baths: 2 Total Baths: 2 Rentals Allowed: Yes Min Rental Days: 1

Status Change Info

Status: Active

Association Info

Mandatory Home Owners Asc: Yes 1st Right of Refusal: No Association Fee $: 1440

Building Style

Above Flood: Yes

Pool Info

Heated: Yes

Financial Status

Auction: No Bank Owned: No Potential Short Sale: No Standard Sale: Yes

Property Features

Fee Includes: Cable Tax Exemptions: None Waterfront: None Waterview: Salt Ponds; No Waterview Dockage: None Vehicle Storage: Open Parking Furnished: Furnished Cooling: Central Air Heating: Central; Hot Water Utilities: Cable Available; Municipal Sewer Interior Features: Built-in Cabinets; Drapes/Blinds Incl; Elevator; Quartz Countertops; Split Bedroom; Window Treatments Pre-Wired: Cable Specialty Rooms: Laundry Room Appliances: Dishwasher; Dryer; Freezer; Microwave; Oven; Range; Refrigerator; Stainless Steel Appliance(s); Washer Exterior Features: Built-in Grill; Chickee Hut; Tennis Court(s) Accessibility Feat: Parking Pool Info: In Ground Construction: CBS Floor: Vinyl Roof: Concrete Roof Pets: Pets Allowed Neighborhood Feature: Tennis Courts Security: Manned Gate Land Size: 5 Less Than 10 Acres Terms: Cash; Conventional; Other Specify Title: Title Ins - Buyer
Listing Office: Pedrin of Miami Realty, Inc.
Last Updated: January - 27 - 2026
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