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.
Sold for $672,000
$672,000
1530 Ocean Bay Dr APT 508, Key Largo, FL 33037
2beds
1,188sqft
Condominium, Residential - Condo/Townhouse
Built in 1993
-- sqft lot
$767,400 Zestimate®
$566/sqft
$3,223 Estimated rent
Home value
$767,400
$698,000 - $844,000
$3,223/mo
Zestimate® history
Owner options
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$3,223/mo
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$3,223/mo
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$5,108/mo
Est. payment
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$5,108/mo
Est. payment
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Impact windows
Zillow last checked:
Listing updated:
Listed by:
Diana Valbuena 305-721-5775,
Pedrin of Miami Realty, Inc.
Bought with:
Diana Valbuena, 3311963
Pedrin of Miami Realty, Inc.
Source: FLKMLS,MLS#: 615672
Originating MLS: Florida Keys
Originating MLS: Florida KeysFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Hot Water
Cooling
- Ceiling Fans(s)
Appliances
- Included: Washer, Disposal, Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
Features
- Built-in Cabinets, Walk-In Closet(s), Elevator, Granite Counters
- Flooring: Laminate
- Doors: Impact Rstnce Doors
- Windows: Drapes/Blinds Incl, Window Treatments, Impact Rstnce Window
- Furnished: Yes
Interior area
- Total interior livable area: 1,188 sqft
Property
Parking
- Parking features: Open
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: No
Features
- Levels: 5 Stories
- Stories: 5
- Patio & porch: Open Porch/Balcony
- Exterior features: Tennis Court(s)
- Has private pool: Yes
- Pool features: Heated, In Ground
- Has view: Yes
- View description: Ocean
- Has water view: Yes
- Water view: Ocean
- Waterfront features: Oceanfront, Waterfront, Dockage: Boat Ramp
Lot
- Size: 1,322 sqft
- Features: 10 or more Acres
Details
- Parcel number: 00090495000508
- Zoning: MI
- Zoning description: Maritime Industries District
- Special conditions: Standard
Construction
Type & style
- Home type: Condo
- Property subtype: Condominium, Residential - Condo/Townhouse
Materials
- CBS, Stucco
Condition
- Year built: 1993
Utilities & green energy
- Sewer: Public Sewer
- Utilities for property: Cable Available, Cable Connected
Green energy
- Energy efficient items: Thermostat
Community & neighborhood
Security
- Security features: Smoke Detector(s)
Location
- Region: Key Largo
- Subdivision: Kawama Tower (100.0)
HOA & financial
HOA
- Has HOA: Yes
- HOA fee: $1,055 monthly
- Services included: Cable TV, Security, Maintenance Grounds, Building Insurance, Maintenance Structure, Pest Control, Sewer
- Second HOA fee: $385 monthly
Other
Other facts
- Listing terms: Cash,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 12/8/2025 | Sold | $672,000-7.9%$566/sqft |
Source:  FLKMLS #615672 Report a problem | ||
| 10/30/2025 | Pending sale | $729,900$614/sqft |
Source: FLKMLS #615672 Report a problem | ||
| 10/6/2025 | Price change | $729,900-3.9%$614/sqft |
Source: FLKMLS #615672 Report a problem | ||
| 9/15/2025 | Price change | $759,900-7.3%$640/sqft |
Source:  Key West AOR #615672 Report a problem | ||
| 8/29/2025 | Listed for sale | $819,900$690/sqft |
Source: Key West AOR #615672 Report a problem | ||
| 7/29/2025 | Pending sale | $819,900$690/sqft |
Source: FLKMLS #615672 Report a problem | ||
| 7/3/2025 | Listed for sale | $819,900+205.9%$690/sqft |
Source: FLKMLS #615672 Report a problem | ||
| 5/23/2013 | Sold | $268,000-3.9%$226/sqft |
Source: FLKMLS #555605 Report a problem | ||
| 4/4/2013 | Pending sale | $279,000$235/sqft |
Source: CENTURY 21 Schwartz Realty #555605 Report a problem | ||
| 1/11/2013 | Price change | $279,000-6.7%$235/sqft |
Source: CENTURY 21 Schwartz Realty #555605 Report a problem | ||
| 8/15/2012 | Price change | $299,000-7.7%$252/sqft |
Source: CENTURY 21 Schwartz Realty #555605 Report a problem | ||
| 7/22/2012 | Price change | $324,000-7.2%$273/sqft |
Source: CENTURY 21 Schwartz Realty #555605 Report a problem | ||
| 6/28/2012 | Price change | $349,000-11.6%$294/sqft |
Source: CENTURY 21 Schwartz Realty #555605 Report a problem | ||
| 2/6/2011 | Listed for sale | $395,000$332/sqft |
Source: CENTURY 21 Keysearch Realty #542354 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,053 +7.1% | $503,040 +10% |
| 2024 | $4,719 +7.1% | $457,309 +10% |
| 2023 | $4,407 +21.9% | $415,735 +10% |
| 2022 | $3,615 +6.7% | $377,941 +10% |
| 2021 | $3,387 +1.4% | $343,583 +2.3% |
| 2020 | $3,341 | $335,731 +5.4% |
| 2019 | $3,341 +4.3% | $318,448 |
| 2018 | $3,204 +0.9% | $318,448 +14.6% |
| 2017 | $3,175 +9.8% | $277,858 +4.2% |
| 2016 | $2,892 +2.8% | $266,534 +17.2% |
| 2015 | $2,814 | $227,384 |
Find assessor info on the county website
Neighborhood: 33037
Nearby schools
GreatSchools rating
- 8/10Key Largo SchoolGrades: PK-8Distance: 6.3 mi
- 5/10Coral Shores High SchoolGrades: 9-12Distance: 8.3 mi
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Estimated market value
$767,400
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$767,400
- Florida
- Monroe County
- Key Largo
- 33037
- 1530 Ocean Bay Dr Apartment 508
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