LETTER OF DETERMINATION WITH 3 RIGHTS | SELLER FINANCING | INCOME-PRODUCING TRIPLEX IN MARATHON
Building rights are the scarcest asset in the Florida Keys, and this property comes with a Letter of Determination confirming 3 rights. That makes it an opportunity to hold, improve, or reposition a triplex in the Middle Keys with the entitlements already documented.
Seller financing is available: $500,000 down over a 5-year term at a competitive rate, a real advantage in today's rate environment.
The Property:
Three fully renovated units, all currently leased:
Unit 1: 2BR/1BA, spacious layout, modern open-concept interior
Unit 2: 2BR/1BA, fully renovated
Unit 3: Efficiency with a well-equipped kitchenette, ideal for a single tenant or short-term renter
Tenants are on flexible month-to-month leases, which gives a buyer immediate cash flow and room to change course later. Ample on-site parking keeps the property easy to manage.
Location:
In the heart of Marathon, minutes from shops, restaurants, and everything the Middle Keys lifestyle offers.
Who It's For:
Investors building a rental portfolio, or an owner-occupant who wants to live in one unit and let the other two help cover the cost of ownership.
Schedule your private showing today. Properties with documented building rights and owner financing don't come along often in Marathon.
For sale
Price cut: $81K (9/28)
$898,000
10833 2nd Ave, Marathon, FL 33050
5beds
2,111sqft
Multi Family
Built in 1959
-- sqft lot
$856,900 Zestimate®
$425/sqft
$-- HOA
What's special
Modern open-concept interiorFully renovated unitsAmple on-site parkingWell-equipped kitchenetteSpacious layout
- 71 days
- 247
- 21
Zillow last checked:
Listing updated:
Listed by:
Kristin Herold 310-421-5543,
Coldwell Banker Schmitt Islamorada
Source: FLKMLS,MLS#: 620847
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 3
- Full bathrooms: 3
Cooling
- Wall/Window Unit(s), Ceiling Fans(s)
Appliances
- Included: Washer, Dryer, Dishwasher, Refrigerator, Oven, Microwave
Interior area
- Total structure area: 2,111
- Total interior livable area: 2,111 sqft
Property
Accessibility
- Accessibility features: Parking
Lot
- Size: 4,356 Square Feet
Details
- Parcel number: 00333710000000
- Zoning: RM - Residential Medium
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Concrete
Condition
- Year built: 1959
Community & HOA
Community
- Subdivision: Key Colony Sub (53.0)
HOA
- Has HOA: No
- Services included: None
Location
- Region: Marathon
Financial & listing details
- Price per square foot: $425/sqft
- Tax assessed value: $578,648
- Annual tax amount: $6,477
- Date on market: 8/3/2026
- Listing terms: Seller Finance Psble
Estimated market value
$856,900
$814,000 - $900,000
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 9/28/2026 | Price change | $898,000-8.3%$425/sqft |
Source: | ||
| 8/3/2026 | Listed for sale | $979,000+15.2%$464/sqft |
Source: | ||
| 1/14/2024 | Listing removed | -- |
Source: | ||
| 10/11/2023 | Listed for sale | $850,000$403/sqft |
Source: | ||
| 9/13/2023 | Contingent | $850,000$403/sqft |
Source: | ||
| 7/17/2023 | Listed for sale | $850,000+277.9%$403/sqft |
Source: | ||
| 8/11/2016 | Sold | $224,900$107/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $6,478 +7.5% | $487,604 +21% |
| 2023 | $6,026 +11.5% | $402,978 +10% |
| 2022 | $5,407 +14.7% | $366,344 +10% |
| 2021 | $4,713 +1.5% | $333,040 +0.7% |
| 2020 | $4,643 | $330,736 -3.3% |
| 2019 | $4,643 +4.2% | $342,106 -0.9% |
| 2018 | $4,456 +6.8% | $345,242 +38.9% |
| 2017 | $4,171 +13.4% | $248,487 +39.7% |
| 2016 | $3,678 +19.9% | $177,898 -15% |
| 2015 | $3,069 | $209,395 |
Find assessor info on the county website
Monthly payment
Est. payment





