About 58234 Overseas Highway
Very unique property in the old Keys Style. 5 Building Rights on this 18,000 sq ft Oceanfront parcel on Grassy Key, with Bay Bottom and a boat ramp (shared with adjoining parcel) City of Marathon has approved a Letter of Determination for five (5) building rights (TBR's) upon the property, however Letter is currently in review period by Florida Department of Commerce (Formerly DEO) with an appeal date of 4/25/24. Property currently contains a Triplex with a 2/2 apt and two 1 bed/1 bath apts; a small studio with 1 bath, and a mobile home with 2 beds/1.5 baths. Triplex was inspected and found to be unsafe structure. It CAN NOT be occupied. Seller has been advised he could possibly repair the building within the guidelines of the City's Substantial Improvement ordinance but Buyer needs to verify this. Should a Buyer decide to demolish the triplex density requirements would limit the number of units that could be rebuilt. Current zoning and density should allow for two units to be built on the property. A buyer might choose to demolish the triplex and leave mobile home and studio unit in place...and keep the remaining three (3) TBRs.
Features of 58234 Overseas Highway
| MLS® # | 609161 |
|---|---|
| Price | $1,800,000 |
| Bedrooms | 7 |
| Bathrooms | 7.00 |
| Full Baths | 6 |
| Half Baths | 1 |
| Square Footage | 2,190 |
| Land Size | 7,841 |
| Year Built | 1975 |
| Type | Residential |
| Sub-Type | Multi-Units |
| Style | Single Wide |
| Status | Active |
Community Information
| Address | 58234 Overseas Highway |
|---|---|
| Area | 19 - Crawl Key & Grassy Key |
| Subdivision | Crains Sub (58.0) |
| City | MARATHON |
| County | Monroe |
| State | FL |
| Zip Code | 33050 |
Amenities
| Utilities | Elect Separate Meter, Municipal Sewer, FKAA |
|---|---|
| Parking | Off Street Parking |
| View | Ocean View, Open Water View |
| Is Waterfront | Yes |
| Waterfront | Oceanfront, Open Water |
| Has Pool | No |
Interior
| Cooling | Window/Wall Unit |
|---|---|
| Fireplace | No |
| Stories | 2 Stories |
Exterior
| Lot Description | 1/4 - 1/2 Acre |
|---|---|
| Construction | CBS, Manufactured |
Additional Information
| Date Listed | March 12th, 2024 |
|---|---|
| Days on Market | 64 |
| Zoning | RM - Residential Medium |
| Short Sale | No |
| RE / Bank Owned | No |
| HOA Fees | 0.00 |
Listing Details
| Agent | Joshua Mothner |
|---|---|
| Office | Coldwell Banker Schmitt Real Estate Co. |