500 22nd Street, Marathon, FL 33050

$1,250,000
Property Type: Residential Bedrooms: 8 Baths: 4 Square Footage: 2,780 Lot Size (sq. ft.): 6,002 Status: Closed
Current Price: $1,250,000 List Date: 1/14/2022 Last Modified: 12/03/2025

Description

Fantastic opportunity for an investor or local business for employee housing! This two story, four unit apartment building is a rarity in Marathon. Offering apartments that are all two bedroom, one bathroom units. They are all currently rented with long-term tenants in place; current rents range from $1,715 - $2,000 per unit. The current market rate rent on these units should be $2,400 + monthly. Separately metered electric for each unit, which tenants pay. There is plenty of parking on-site and a laundry room out back (owner pays utilities for laundry room). If you own a local business and worry about employee retention due to housing, this may be the investment you need to make to secure your longevity.

More Information MLS# 599200

Contract Information

Current Price: $1,250,000 Listing Date: 2022-01-12 Listing Board: Marathon/Lower Keys Sold Price: $1,250,000 As is Rght to Inspct: Yes Species List: No

Location Tax Legal

Street #: 500 Street Name: 22nd Street Suffix: Street Key/Island: Marathon State/Province: FL Zip Code: 33050 County: Monroe Subdivision: R & R Subdivision (48.5) Area: 13 - 7 Mile Bridge to Sombrero Bch Rd E & W

General Property Description

Realtor.COM Type: Multi-family Style: Multi-Units Waterfront: No Pool: No Year Built: 1973 Total Units: 4 Lot SqFt: 6002 Acres: 0.14 Living Apx SqFt: 2780 SqFt Source: Property Data Card Total Bedrooms: 8 Full Baths: 4 Total Baths: 4 Rentals Allowed: Yes Min Rental Days: 7

Status Change Info

Sold Date: 2022-05-17 Sold Price: $1,250,000 Sold Comments: Thank you David! Glad you got to sell this twice! Status: Closed

Association Info

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

Building Style

Above Flood: Unknown Stories: 2 Stories

Financial Status

Standard Sale: Yes

Property Features

Fee Includes: None Tax Exemptions: None Waterfront: None Waterview: No Waterview Dockage: None Vehicle Storage: Off Street Parking Furnished: Unfurnished Cooling: Ceiling Fans(s); Wall/Window Unit(s) Utilities: Elect Separate Meter; FKAA Pre-Wired: Cable Specialty Rooms: Utility Room Appliances: Dryer; Oven; Range; Washer Accessibility Feat: None Construction: Concrete Floor: Tile Pets: Pets Allowed Security: Patrolled Area Land Size: Less Than 1/4 Acre Terms: Cash; Conventional; No Seller Finance Title: Negotiable
Listing Office: Ocean Sotheby's International Realty
Last Updated: December - 03 - 2025
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