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1530 Ocean Bay Drive 509, Key Largo, FL 33037
$786,000
Property Type:
Residential
Bedrooms:
2
Baths:
2
Square Footage:
1,188
Status:
Closed
Current Price:
$786,000
List Date:
6/18/2025
Last Modified:
8/26/2025
Description
Top-Floor Oceanfront Condo | STR Rentals Approved | Income-Producing
Investor alert! This stunning top-floor 2BD/2BA condo in Kawama Tower offers breathtaking panoramic ocean views and is fully approved for short-term rentals—making it a rare and highly desirable income-producing property in Key Largo.
Turn-key and rental-ready, the unit features impact windows and doors, an updated kitchen, new flooring, stylish bathrooms, and a spacious split-bedroom layout ideal for hosting guests. Balcony overlooking the ocean view. Maximize returns with high nightly rental rates, year-round demand, and a proven STR market in this sought-after location.
Set in a gated, resort-style community with a private beach, deep-water marina to rent a slip, boat ramp, pool, tennis pickle ball courts, and 24/7 security, this property offers strong appreciation potential and immediate cash flow.
Whether you're looking to expand your portfolio, complete a 1031 exchange, or own a piece of paradise—this property ticks all the boxes.
It offers an excellent balance of lifestyle, convenience, and income potential. Unit 509 is a premium pick in Kawama Tower - Act now to secure your own slice of Key Largo paradise! Exceptional location, stunning views, and impressive amenities and rental income —your dream Island and oceanfront lifestyle awaits!
More Information MLS# 614754
Contract Information
Current Price: $786,000
Listing Date: 2025-04-23
Listing Board: Florida Keys
Sold Price: $786,000
As is Rght to Inspct: Yes
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: Yes
Control Depth: 6
Unit/Complex: Unit
Pool: Yes
Year Built: 1993
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
Sold Date: 2025-08-25
Sold Price: $786,000
Status: Closed
Association Info
Mandatory Home Owners Asc: Yes
1st Right of Refusal: No
Association Fee $: 1350
Assoc/Mnt Fee Per: Monthly
Building Style
Above Flood: Yes
Stories: 5 Stories
Pool Info
Heated: Yes
Property Features
Fee Includes: Bldg Exterior Mnt; Building Insurance; Common Area Mnt; Security
Tax Exemptions: None
Waterfront: Oceanfront; Open Water
Waterview: Ocean View; Open Water View
Dockage: Boat Ramp
Property Condition: Updated/Remodeled
Vehicle Storage: Assigned Parking; Guest Parking; Trailer Storage
Furnished: Furnished
Cooling: Central Air
Utilities: FKAA; Municipal Sewer
Interior Features: Granite Counter Top; Quartz Countertops; Split Bedroom; Storage
Specialty Rooms: Laundry Room
Appliances: Dishwasher; Dryer; Microwave; Oven; Range; Refrigerator; Stainless Steel Appliance(s); Washer
Exterior Features: Sandy Beach; Tennis Court(s)
Pool Info: In Ground; Concrete
Construction: CBS; Concrete
Floor: Tile
Roof: Concrete Roof
Pets: Pets Allowed
Neighborhood Feature: Beach; Bike Paths; Community Boat Ramp; Community Pool; Tennis Courts
Security: Manned Gate
Land Size: 10 or more Acres
Terms: Cash; Conventional
Title: Title Ins - Buyer
Documents
Listing Office: American Caribbean Real Estate, Christie's International Real Estate
Last Updated: August - 26 - 2025
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.

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