Top-Floor Oceanfront Condo | STR Rentals Approved | Income-ProducingInvestor alert! This stunning top-floor 2BD/2BA condo in Kawama Tower offers breathtaking panoramic ocean views and is fully approved for short-term rentals--making it a rare and highly desirable income-producing property in Key Largo.Turn-key and rental-ready, the unit features impact windows and doors, an updated kitchen, new flooring, stylish bathrooms, and a spacious split-bedroom layout ideal for hosting guests. Balcony overlooking the ocean view. Maximize returns with high nightly rental rates, year-round demand, and a proven STR market in this sought-after location.Set in a gated, resort-style community with a private beach, deep-water marina to rent a slip, boat ramp, pool, tennis pickle ball courts, and 24/7 security, this property offers strong appreciation potential and immediate cash flow.Whether you're looking to expand your portfolio, complete a 1031 exchange, or own a piece of paradise--this property ticks all the boxes.It offers an excellent balance of lifestyle, convenience, and income potential. Unit 509 is a premium pick in Kawama Tower - Act now to secure your own slice of Key Largo paradise! Exceptional location, stunning views, and impressive amenities and rental income --your dream Island and oceanfront lifestyle awaits!
Sold for $786,000
$786,000
1530 Ocean Bay Dr APT 509, Key Largo, FL 33037
2beds
1,188sqft
Condominium, Residential - Condo/Townhouse
Built in 1993
-- sqft lot
$988,400 Zestimate®
$662/sqft
$3,223 Estimated rent
Home value
$988,400
$899,000 - $1.09M
$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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$6,090/mo
Est. payment
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$6,090/mo
Est. payment
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List your homeWhat's special
Beach accessTennis courtsOpen and airy condoDirect panoramic ocean viewsPlenty of natural lightSpacious split-bedroom layoutUpdated kitchen
Zillow last checked:
Listing updated:
Listed by:
Terry Canto,Top Producer 305-394-3037,
American Caribbean Real Estate, Christie's International Real Estate
Bought with:
Terry Canto,Top Producer, 626852
American Caribbean Real Estate, Christie's International Real Estate
Source: FLKMLS,MLS#: 614754
Originating MLS: Florida Keys
Originating MLS: Florida KeysFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
Cooling
- Central Air
Appliances
- Included: Washer, Stainless Steel Appliance(s), Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
- Laundry: Laundry Room
Features
- Split Bedroom, Quartz Countertops, Storage, Granite Counters
- Flooring: Tile
- Doors: Impact Rstnce Doors
- Windows: Impact Rstnce Window
- Furnished: Yes
Interior area
- Total interior livable area: 1,188 sqft
Property
Parking
- Parking features: Assigned, Trailer Storage, Guest
Features
- Levels: 5 Stories
- Stories: 5
- Patio & porch: Open Porch/Balcony
- Exterior features: Sandy Beach, Tennis Court(s)
- Has private pool: Yes
- Pool features: Heated, In Ground, Concrete
- Has view: Yes
- View description: Ocean, Water
- Has water view: Yes
- Water view: Ocean,Water
- Waterfront features: Oceanfront, Open Water, Waterfront, Sandy Beach, Dockage: Boat Ramp
Lot
- Features: 10 or more Acres
Details
- Parcel number: 00090495000509
- Zoning: SR
- Zoning description: Sub Urban Residential District
Construction
Type & style
- Home type: Condo
- Property subtype: Condominium, Residential - Condo/Townhouse
Materials
- CBS, Concrete
- Roof: Concrete
Condition
- Updated/Remodeled
- New construction: No
- Year built: 1993
Utilities & green energy
- Sewer: Municipal Sewer, Public Sewer
- Utilities for property: FKAA
Community & neighborhood
Security
- Security features: Gated with Guard
Community
- Community features: Pool, Bike Paths, Beach, Tennis Court(s), Community Boat Ramp
Location
- Region: Key Largo
- Subdivision: Kawama Tower (100.0)
HOA & financial
HOA
- Has HOA: Yes
- HOA fee: $1,350 monthly
- Services included: Maintenance Structure, Security, Maintenance Grounds, Building Insurance
Other
Other facts
- Listing terms: Cash,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 8/25/2025 | Sold | $786,000-4.7%$662/sqft |
Source:  FLKMLS #614754 Report a problem | ||
| 8/21/2025 | Pending sale | $825,000$694/sqft |
Source: FLKMLS #614754 Report a problem | ||
| 8/2/2025 | Contingent | $825,000$694/sqft |
Source:  Key West AOR #614754 Report a problem | ||
| 7/4/2025 | Price change | $825,000-2.4%$694/sqft |
Source: Key West AOR #614754 Report a problem | ||
| 6/18/2025 | Listed for sale | $845,000$711/sqft |
Source: FLKMLS #614754 Report a problem | ||
| 6/2/2025 | Contingent | $845,000$711/sqft |
Source: FLKMLS #614754 Report a problem | ||
| 4/23/2025 | Listed for sale | $845,000+81.7%$711/sqft |
Source: FLKMLS #614754 Report a problem | ||
| 6/1/2015 | Sold | $465,000-6.1%$391/sqft |
Source: FLKMLS #567192 Report a problem | ||
| 5/1/2015 | Pending sale | $495,000$417/sqft |
Source: Shoreline Properties #567192 Report a problem | ||
| 5/1/2015 | Listed for sale | $495,000$417/sqft |
Source: Shoreline Properties #567192 Report a problem | ||
| 3/31/2015 | Listing removed | $495,000$417/sqft |
Source: Shoreline Properties #565371 Report a problem | ||
| 3/23/2014 | Listed for sale | $495,000+80%$417/sqft |
Source: Shoreline Properties #563850 Report a problem | ||
| 6/5/2012 | Sold | $275,000$231/sqft |
Source: Public Record Report a problem | ||
| 5/6/2012 | Listed for sale | $275,000$231/sqft |
Source: Default Realty Services Inc #557957 Report a problem | ||
| 3/21/2012 | Listing removed | $275,000$231/sqft |
Source: Default Realty Services Inc #557581 Report a problem | ||
| 3/17/2012 | Listed for sale | $275,000-54.7%$231/sqft |
Source: Default Realty Services Inc #557581 Report a problem | ||
| 1/18/2006 | Sold | $607,500$511/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $6,763 +7.5% | $721,895 +10% |
| 2024 | $6,291 +7.1% | $656,268 +10% |
| 2023 | $5,876 +24.1% | $596,607 +10% |
| 2022 | $4,735 +7.3% | $542,370 +10% |
| 2021 | $4,414 +1.7% | $493,064 +2.5% |
| 2020 | $4,338 | $481,246 +5.5% |
| 2019 | $4,338 +4.9% | $456,360 |
| 2018 | $4,136 -1.7% | $456,360 +8.8% |
| 2017 | $4,206 +8.3% | $419,342 +6.1% |
| 2016 | $3,884 +2.1% | $395,185 +73.8% |
| 2015 | $3,806 | $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
$988,400
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Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$988,400
- Florida
- Monroe County
- Key Largo
- 33037
- 1530 Ocean Bay Dr Apartment 509
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