Unique 18,000 sq ft ocean front parcel with 5 units. Remember how the Key used to be? Parcel shares a boat ramp with adjacent parcel, owned bay bottom and 5 units recognized by the City of Marathon. The property contains a Triplex consisting of a 2/2 apt and two 1/1 apartments: a small cottage studio with 1 bath and a mobile home with 2 beds/1.5 baths. Triplex building sits directly on the Ocean and is currently undergoing spalling repairs. The property has been a vacation rental, but the vacation rental license is currently stopped while repairs are under way. Potential buyers have several options. The current density on RM zoning allows for two units should a prospective buyer wish to demolish the existing units, rebuild two units, and sell or retain the remaining 3 Transferable Building Rights. Letter of Determination is under the Documents Tab.
Sold for $1,400,000
$1,400,000
58234 Overseas Hwy, Grassy Key, FL 33050
7beds
3,026sqft
Multi Family
Built in 1975
-- sqft lot
$1,406,100 Zestimate®
$463/sqft
$3,269 Estimated rent
Home value
$1,406,100
$1.22M - $1.62M
$3,269/mo
Zestimate® history
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$8,603/mo
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Zillow last checked:
Listing updated:
Listed by:
Joshua James Mothner 305-942-9519,
Coldwell Banker Schmitt Real Estate Co.,
Teri Hiller 305-481-0361,
Coldwell Banker Schmitt Real Estate Co.
Bought with:
Samuel Davis Williams, 3186658
Coldwell Banker Schmitt Real Estate Co.
Source: FLKMLS,MLS#: 612603
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 7
- Full bathrooms: 6
- 1/2 bathrooms: 1
Cooling
- Wall/Window Unit(s)
Interior area
- Total structure area: 3,026
- Total interior livable area: 3,026 sqft
Property
Features
- Patio & porch: Open Porch/Balcony, Patio
- On waterfront: Yes
Lot
- Size: 7,840 Square Feet
Details
- Parcel number: 00368470000000
- Zoning: RM - Residential Medium
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Other
- Property subtype: Multi Family
Materials
- CBS, Manufactured
Condition
- Under Construction
- New construction: No
- Year built: 1975
Utilities & green energy
- Utilities for property: Elect Separate Meter
Community & HOA
Community
- Subdivision: Crains Sub (58.0)
HOA
- Has HOA: No
- Services included: None
Location
- Region: Grassy Key
Financial & listing details
- Price per square foot: $463/sqft
- Tax assessed value: $1,003,401
- Annual tax amount: $12,299
- Date on market: 12/8/2024
Price history
| Date | Event | Price |
|---|---|---|
| 8/6/2025 | Sold | $1,400,000-6.7%$463/sqft |
Source:  FLKMLS #612603 Report a problem | ||
| 3/20/2025 | Contingent | $1,500,000$496/sqft |
Source: FLKMLS #612603 Report a problem | ||
| 1/20/2025 | Price change | $1,500,000-23.1%$496/sqft |
Source:  Key West AOR #612603 Report a problem | ||
| 12/8/2024 | Listed for sale | $1,950,000-30.4%$644/sqft |
Source: FLKMLS #612603 Report a problem | ||
| 7/10/2024 | Listing removed | $2,800,000$925/sqft |
Source:  MLKAR #609161 Report a problem | ||
| 7/10/2024 | Price change | $2,800,000+55.6%$925/sqft |
Source: Key West AOR #609161 Report a problem | ||
| 3/12/2024 | Listed for sale | $1,800,000$595/sqft |
Source: Key West AOR #609161 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $10,146 -9.9% | $907,763 +10% |
| 2024 | $11,261 +4% | $825,239 +10% |
| 2023 | $10,828 +18.7% | $750,217 +10% |
| 2022 | $9,125 +14% | $682,015 +10% |
| 2021 | $8,001 +7.9% | $620,014 +8.6% |
| 2020 | $7,417 | $570,961 -0.7% |
| 2019 | $7,417 -0.5% | $574,885 +4.2% |
| 2018 | $7,453 +6.3% | $551,692 +2.5% |
| 2017 | $7,013 +3.5% | $538,445 +13.7% |
| 2016 | $6,779 +5.6% | $473,514 -33.9% |
| 2015 | $6,421 | $716,325 |
Find assessor info on the county website
Neighborhood: 33050
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Nearby schools
GreatSchools rating
- 5/10Stanley Switlik Elementary SchoolGrades: PK-5Distance: 9.5 mi
- 5/10Marathon SchoolGrades: 6-12Distance: 8.8 mi
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Estimated market value
$1,406,100
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
$1,406,100
- Florida
- Monroe County
- Marathon
- 33050
- 58234 Overseas Hwy
Nearby cities
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