About 1530 Ocean Bay Drive 508
Turnkey investment opportunity in the heart of Key Largo! This property qualifies for special financing where personal income verification is not required. Approval is based solely on the property's proven or projected rental income, making it an ideal opportunity for investors seeking a high-return vacation rental or short-term rental property. Property has potential to generate over $100,000 per year in rental income. This updated 2BR/2BA condo at Kawama Yacht Club Tower (Unit 508) is being sold as a potentially high-performance short-term rental. Rare legal daily rental zoning ideal for maximizing occupancy and cash flow. Fully furnished, impact windows, beautifully maintained, and ready to generate revenue from day one. Resort amenities include marina, pools, beach, tennis, pickleball and 24/7 gated security. Excellent ROI in one of the most desirable waterfront communities in the Florida Keys.
Features of 1530 Ocean Bay Drive 508
| MLS® # | 615672 |
|---|---|
| Price | $729,900 |
| Bedrooms | 2 |
| Bathrooms | 2.00 |
| Full Baths | 2 |
| Square Footage | 1,188 |
| Year Built | 1993 |
| Type | Residential |
| Sub-Type | Condo |
| Status | Active |
Community Information
| Address | 1530 Ocean Bay Drive 508 |
|---|---|
| Area | 27 - Key Largo MM 97-107 |
| Subdivision | Kawama Tower (100.0) |
| City | KEY LARGO |
| County | Monroe |
| State | FL |
| Zip Code | 33037 |
Amenities
| Utilities | Cable Available |
|---|---|
| Parking | Open Parking |
| View | Ocean View |
| Is Waterfront | Yes |
| Waterfront | Oceanfront |
| Has Pool | Yes |
| Pool | In Ground |
Interior
| Interior Features | Drapes/Blinds Incl, Built-in Cabinets, Window Treatments, Walk-in Closet(s), Smoke Alarms, Elevator, Granite Counter Top |
|---|---|
| Appliances | Washer, Disposal, Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer |
| Heating | Hot Water |
| Cooling | Ceiling Fans(s) |
| Fireplace | No |
| Stories | 5 Stories |
Exterior
| Exterior Features | Tennis Court(s) |
|---|---|
| Lot Description | 10 or more Acres |
| Windows | Impact Rstnce Window, Impact Rstnce Doors |
| Construction | CBS, Stucco |
Additional Information
| Date Listed | July 3rd, 2025 |
|---|---|
| Days on Market | 58 |
| Zoning | MI - Maritime Industries District |
| Short Sale | No |
| RE / Bank Owned | No |
| HOA Fees | 1055.00 |
| HOA Fees Freq. | Monthly |
Listing Details
| Agent | Diana Valbuena |
|---|---|
| Office | Pedrin of Miami Realty, Inc. |