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For sale
$795,000

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

2beds
766sqft
: 
$6,022/mo
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Condominium
Built in 1975
-- sqft lot
$754,900 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!
97 days
202
8

Zillow last checked:

Listing updated:

Listed by:

Dan Cloud 305-396-7844,

Water Vista Realty, Inc.

Source: FLKMLS,MLS#: 620527MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 2
    • Bathrooms: 3
    • Full bathrooms: 2
    • 1/2 bathrooms: 1
    Heating
    • Has Heating (Unspecified Type)
    Cooling
    • Central Air, Ceiling Fans(s)
    Appliances
    • Included: Washer, Dryer, Dishwasher, Refrigerator, Range, Oven, Microwave, Stainless Steel Appliance(s)
    • Laundry: Laundry Room
    Features
    • Storage
    • Flooring: Tile, Laminate
    • Furnished: Yes
    Interior area
    • Total structure area: 766
    • Total interior livable area: 766 sqft
    Video & virtual tour

    Property

    Parking
    • Parking features: Open, Storage
    • Has uncovered spaces: Yes
    Features
    • Patio & porch: Open Porch/Balcony
    • Has private pool: Yes
    • Pool features: In Ground
    • On waterfront: Yes
    Details
    • Parcel number: 00090491000505
    • Zoning: MF - Multi-Family Attached

    Construction

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

    Utilities & green energy

    • Utilities for property: Cable Available

    Community & HOA

    Community
    • Features: Community Dockage, Community Boat Ramp, Manager on Premises, Beach
    • Security: Security Gate, Gated with Guard, Security Guard
    • Subdivision: Kawama Yacht Club (100.0)
    HOA
    • Has HOA: Yes
    • Services included: Cable TV, Pest Control, Maintenance Structure, Insurance, Common Area Mnt, Security
    • 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

      $754,900

      $717,000 - $793,000

      $2,498/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

      Est. payment

      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.
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      Climate risks

      Neighborhood: 33037

      Getting around

      15 / 100
      Car-Dependent
      29 / 100
      Somewhat Bikeable

      Nearby schools

      GreatSchools rating

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