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For sale
  • $795,000

    1500 Ocean Bay Dr APT E5, Key Largo, FL 33037

    2beds
    766sqft
    : 
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    Condominium, Residential - Condo/Townhouse, Townhouse
    Built in 1975
    -- sqft lot
    $760,100 Zestimate®
    $1,038/sqft
    $850/mo HOA

    What's special

    Oceanfront beachesPlantation shuttersExtensively renovated beautiful kitchenStainless steel appliancesTile backsplashCustom cabinets and lightingJetty with a gazebo
    KAWAMA YACHT CLUB BEAUTIFULLY RENOVATED 2 Bedrooms - 2 Full Bathrooms Unit E5, CBS Block Townhome located on a beautiful Saltwater Lagoon in an Oceanfront Manned Gated Community, in the heart of Key Largo. EXCELLENT RENTAL INCOME, one of the few Florida Keys properties that can be rented DAILY-NIGHTLY, the majority of the Keys rental properties can only be rented every 28 days. CURRENTLY GENERATING RENTAL INCOME of $98,980 yearly. Being offered Turnkey, this lovely Townhome is ready for you to use or rent day one. Extensively renovated, beautiful Kitchen featuring Stainless Steel Appliances, Custom Cabinets and Lighting, Tile Backsplash, and Plantation Shutters. Newer Daikin AC unit with an 8 year warranty. Spacious Living-Dinning aera, beautiful Water Vistas of the Saltwater Lagoon. Screened-In Patio with lovely Water Vistas of the Saltwater Lagoon. Beautiful Wood-Laminate Flooring throughout the lower floor and patio area. Spacious and Beautiful Master Bedroom featuring a Private Tiled Screened-In Balcony overlooking the Saltwater Lagoon below. The Master Bedroom also has a Wall Mounted TV, Ceiling Fan-Light, Beautiful Tile Flooring, and 2 Spacious Closets. The Second Bedroom features Tile Flooring, Ceiling Fan-Light, Plantation Shutters, Ceiling Mounted TV, and a Spacious Closet. Large Open Covered Patio at the entrance to the Townhome, great place to Barbecue and entertain family and guest. Community Boat Storage and Marina Boat Ramp, launch your boat on the Ocean side, World Class Fishing and Diving. This lovely community has 2 Sparkling Heated Pools, one has a wonderful Beach that leads into the Saltwater Lagoon, great for Kayaking, Paddle Boarding, and Rafting. The other Pool has a Large Tiki Hut, great for gatherings and events. Tennis and Pickle Ball Courts. Jetty with a Gazebo, Oceanfront Beaches, Tiki Huts and Bar-B-Q Grills. Excellent location to local shopping and restaurants. Miami Airport is only a 90 minute drive. Kawama Keys Paradise Awaits!
    5 days
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    335
    |
    12
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    Zillow last checked:

    Listing updated:

    Listed by:

    Dan Cloud 305-396-7844,

    Water Vista Realty, Inc.

    Source: FLKMLS,MLS#: 620527MLS LogoOriginating MLS: Florida Keys

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      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 2
      • Bathrooms: 2
      • Full bathrooms: 2
      Heating
      • Central
      Cooling
      • Central Air, Ceiling Fans(s)
      Appliances
      • Included: Washer, Stainless Steel Appliance(s), Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
      • Laundry: Laundry Room
      Features
      • Storage
      • Flooring: Tile, Laminate
      • Doors: Sliding Glass Doors
      • Windows: Drapes/Blinds Incl, Single Hung Windows
      • Furnished: Yes
      Interior area
      • Total interior livable area: 766 sqft

      Property

      Parking
      • Parking features: Open, Trailer Storage, Guest
      • Has uncovered spaces: Yes
      Features
      • Patio & porch: Open Porch/Balcony, Screened P/B
      • Has private pool: Yes
      • Pool features: Heated, In Ground
      • Has view: Yes
      • View description: Salt Ponds
      • Has water view: Yes
      • Water view: Salt Ponds
      • Waterfront features: Oceanfront, Salt Ponds, Waterfront, Dockage: Boat Ramp, Other Dockage
      Lot
      • Features: Less Than 1/4 Acre
      Details
      • Parcel number: 00090491000505
      • Zoning: MF
      • Zoning description: Multi-Family Attached
      • Special conditions: Standard

      Construction

      Type & style
      • Home type: Condo
      • Architectural style: Townhouse
      • Property subtype: Condominium, Residential - Condo/Townhouse, Townhouse
      Materials
      • CBS, Concrete
      • Roof: Metal
      Condition
      • Updated/Remodeled
      • New construction: No
      • Year built: 1975

      Utilities & green energy

      • Sewer: Municipal Sewer, Public Sewer
      • Utilities for property: FKAA, Cable Available, Buyer to Verify

      Community & HOA

      Community
      • Features: Pool, Beach, Manager on Premises, Tennis Court(s), Community Boat Ramp, Community Dockage
      • Security: Smoke Detector(s), Electric Gate, Patrolled Area, Gated with Guard
      • Subdivision: Kawama Yacht Club (100.0)
      HOA
      • Has HOA: Yes
      • Services included: Cable TV, Security, Maintenance Grounds, Building Insurance, Maintenance Structure, Pest Control
      • HOA fee: $850 monthly
      Location
      • Region: Key Largo

      Financial & listing details

      • Price per square foot: $1,038/sqft
      • Tax assessed value: $618,807
      • Annual tax amount: $5,224
      • Date on market: 7/4/2026
      • Listing terms: Cash,Conventional

        Estimated market value

        $760,100

        $722,000 - $798,000

        $2,523/mo

        Price history

        DateEventPrice
        7/4/2026Listed for sale$795,000-2.2%$1,038/sqft
        Source: Key West AOR #620527 Report a problem
        7/4/2026Listing removed$813,000$1,061/sqft
        Source: FLKMLS #619402 Report a problem
        6/2/2026Price change$813,000-3.1%$1,061/sqft
        Source: FLKMLS #619402 Report a problem
        5/4/2026Price change$839,000-1.3%$1,095/sqft
        Source: FLKMLS #619402 Report a problem
        4/8/2026Listed for sale$849,900+88.9%$1,110/sqft
        Source: FLKMLS #619402 Report a problem
        9/9/2021Sold$450,000$587/sqft
        Source: Public Record Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$5,225 +13.5%$521,070 +10%
        2024$4,604 +7.7%$473,700 +10%
        2023$4,273 +18%$430,636 +10%
        2022$3,622 +48.9%$391,487 +80.1%
        2021$2,433 +10%$217,390 +10%
        2020$2,212 $197,627 +2.6%
        2019$2,212 +1.8%$192,624 -1.1%
        2018$2,174 +0.1%$194,842 -4.3%
        2017$2,171 +2.9%$203,665 +7.6%
        2016$2,109 +3.3%$189,265
        2015$2,041 $189,265

        Find assessor info on the county website

        Monthly payment

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        Payment breakdown

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        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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        Climate risks

        Neighborhood: 33037

        Getting around

        16 / 100
        Car-Dependent
        29 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating

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