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2264 Overseas Hwy #1-8, Marathon, FL 33050

$8,650,000
Property Type: Residential Bedrooms: 32 Baths: 24 Square Footage: 11,804 Status: Closed
Current Price: $8,650,000 List Date: 12/07/2020 Last Modified: 3/04/2022

Description

Built in 2018, turnkey waterfront vacation rental development comprised of eight single family houses, each with four bedrooms and three full bathrooms built to current windstorm standards. Each home is designed for guests to enjoy their own private pool, laundry, outdoor grill area, covered parking and balconies. Excellent rental history and future bookings with tremendous growth opportunity. This vacation rental compound was built to maximize income and minimize overhead. Guests can enjoy the community beach, docks, tiki hut, fish cleaning station, plus nearby amenities including tons of dining options such as Florida Keys Steak and Lobster House, major food and home shopping chains, two major marinas and Marathon Airport.

Supplements: Monthly rental rates average $12,400/mo for units 1-5 and $16,500/mo for units 6-8. Marathon is a 10-mile-long island community conveniently situated in the middle of the Keys island chain, comprised mainly of Vaca Key, Fat Deer Key and Grassy Key. Residents, snowbirds and visitors enjoy Marathon's fishing heritage, an old-Keys lifestyle and seafaring traditions, a theme celebrated in the area's accommodations, such as private waterfront vacation homes, small hotels, beachside inns and tropical, family-style resorts; and annual seafood festivals and waterside restaurants that harvest fresh fish, lobster and stone crab claws from local waters. Marathon is one of the Keys' most marine-friendly cities with nearly 1,200 wet slips, 1,200 dry slips and major facilities to accommodate transient cruisers.Marathon City Marina, considered the Keys' jewel for cruisers, administers 226 mooring balls and has limited dockage. Both mooring balls and dockage are available by the day, week or month.There are also special mooring and managed anchorage fields in Boot Key Harbor as part of a statewide environmental protection pilot program. Boats on a mooring ball do pay a fee.Other features include two dinghy docks, storage, private showers and bathroom facilities, social center, coin-operated laundry and parking.Florida Keys Marathon International Airport busily accommodates a full range of services for general aviation enthusiasts and corporate jet operators. Two full-service FBO's offer fuel, maintenance, tie-down, pilot and passenger facilities. Ground transportation options are available including an airport shuttle, car rental agencies and taxi service.Marathon offers spectacular sailing, fishing, world-class wreck and reef diving and snorkeling, in addition to the island's impeccably maintained beaches, eco-attractions and marine-based educational programs.Iconic learning centers with educational focus where visitors can enjoy unique interactive experiences include The Turtle Hospital, which was the world's first licensed veterinary hospital dedicated to the treatment of sea turtles, and Dolphin Research Center, a not-for-profit education and research facility since 1984.Florida Keys Aquarium Encounters features a coral reef exhibit and a predatory fish habitat housed in a 200,000-gallon interconnected saltwater aquarium.Visitors can enjoy an immersive, interactive experience where they can touch, feel and feed reef fish, invertebrates, stingrays and even sharks.At Crane Point Museum, Nature Center & Historic Site, visitors can hike through a wondrously preserved tropical hardwood grove and visit the home of an early 20th-century settler family.Visitors to the five-acre Pigeon Key venture back in time to experience a tiny island that once served as a home base for workers building the Florida Keys Over-Sea Railroad.A federally protected section of the United States' only living coral barrier reef lies just a few miles offshore, at teeming formations such as Delta Shoals, Coffin Patch and Sombrero Reef, shallow sites popular for students learning to scuba dive.In the deeper blue waters of the Florida Straits lie artificial reefs and the purposely-sunk wreck of the Thunderbolt.On the north side of the island lie the calm waters of the Gulf of Mexico, Florida Bay and the Keys backcountry.

More Information MLS# RX-10676029

Contract Information

Go Active Date: 2020-12-07 Auction: No List Price/SqFt: 845.05 Listing Date: 2020-12-04 Status: Closed Original List Price: 9875000 Sold Price: $8,650,000 Current Price: $8,650,000

General Property Description

Governing Bodies: None Main Level Bedrooms: 32 Main Level Bathrooms: 24 Property Condition: Resale Builder Model: Vacation Rentals SqFt - Total: 23680 Waterfront: Yes SqFt Source: Appraisal Waterfrontage: 110 Gated Community: No Covered Spaces: 16 Development Name: Keys Cove Homeowners Assoc: None Pets Allowed: Yes Pets on Premises: No Bldg #: 1-8 Front Exp: South Open Parking Spaces: 16 Year Roof Installed: 2018 Association Deposit: No Directions: Located next to the newly constructed Courtyard by Marriott in Marathon, FL at mile marker 48.2 in the Florida Keys. Dock: 8 Total Units in Bldg: 1 Membership Fee Required: No Ttl Units in Complex: 8 Private Pool: Yes Type: Single Family Detached Total Bedrooms: 32 Baths - Full: 24 Baths - Total: 24 Year Built: 2018 SqFt - Living: 11804 Subdivision: Keys Cove Legal Desc: 9 66 32 KEY VACCAS PT LOT 1 AND ADJ PT R-O-W OR71-43 OR73-462 OR499-151/52 OR499-154/55 OR570-338E OR775-977 OR944-192QC Lot SqFt: 60306 Total Floors/Stories: 2

Location, Tax & Legal

Geo Area: PB07 State/Province: FL HOPA: No Hopa Short Sale: No Tax Year: 2020 Zoning: MU Short Sale A/U: N/A Short Sale Addendum: No Taxes: 33878.1 Special Assessment: No REO: No Area: 5940 County: Monroe Parcel ID: 00102290000000 Street #: 2264 Street Name: Overseas Hwy #1-8 Zip Code: 33050 Geo Lat: 24.710454 Geo Lon: -81.102534

Office/Member Info

DXORIGMLNO: RX-10676029 DXORIGMLSID: RML

Status Change Info

Terms of Sale: Trade or Exchange Sold Price/SqFt: 732.8 Under Contract Date: 2022-01-31 Sold Date: 2022-03-04 Sold Price: $8,650,000

Lease Info

Min Days to Lease: 7 Lease Times p/Year: 52

Design

Key West: 1

Construction

Concrete: 1 Modular: 1

Master Bedroom/Bath

Dual Sinks: 1

View

Ocean: 1

Rooms

Family: 1 Laundry-Inside: 1

Waterfront Details

Navigable: 1 No Fixed Bridges: 1 Ocean Access: 1 Oceanfront: 1 Seawall: 1

Lot Description

1 to < 2 Acres: 1

Equip/Appl Included

Dishwasher: 1 Dryer: 1 Microwave: 1 Range - Electric: 1 Refrigerator: 1 Washer: 1 Water Heater - Elec: 1

Private Pool Description

Pool Size (W x L): 8 Pools 20x12

Cooling

Ceiling Fan: 1 Central: 1

Heating

Central: 1

Exterior Features

Covered Patio: 1 Deck: 1 Open Balcony: 1

Furnished

Furnished: 1

Interior Features

Stack Bedrooms: 1

Flooring

Tile: 1

Porch/Patio/Balcony

Balcony: 1 Patio: 1

Utilities

Cable: 1 Electric: 1 Public Sewer: 1 Public Water: 1

Parking

2+ Spaces: 1 Carport - Attached: 1 Driveway: 1

Restrict

None: 1

Roof

Metal: 1

Subdiv. Amenities

Boating: 1 Cabana: 1 Picnic Area: 1 Private Beach Pvln: 1

Boat Services

Common Dock: 1 Private Dock: 1 Up to 40 Ft Boat: 1 Up to 50 Ft Boat: 1 Up to 60 Ft Boat: 1

Terms Considered

Cash: 1 Conventional: 1 Lease Option: 1 Lease Purchase: 1 Seller Financing: 1

Possession

Funding: 1

Membership

No Membership Avail: 1

Window Treatments

Impact Glass: 1

Storm Protection

Impact Glass: Complete

Dining Area

Dining/Kitchen: 1 Eat-In Kitchen: 1 Snack Bar: 1

Taxes

City/County: 1 New Construction: 1

Contingencies

None: 1

Concessions

Seller Concessions: No

Contributions

Buyer Contributions: Yes Closing Costs: 1

Property Features

Design: Key West Construction: Concrete; Modular View: Ocean Waterfront Details: Navigable; No Fixed Bridges; Ocean Access; Oceanfront; Seawall Lot Description: 1 to < 2 Acres Exterior Features: Covered Patio; Deck; Open Balcony Interior Features: Stack Bedrooms Furnished: Furnished Rooms: Family; Laundry-Inside Parking: 2+ Spaces; Carport - Attached; Driveway Restrict: None Membership: No Membership Avail Flooring: Tile Heating: Central Cooling: Ceiling Fan; Central Dining Area: Dining/Kitchen; Eat-In Kitchen; Snack Bar Roof: Metal Boat Services: Private Dock; Common Dock; Up to 40 Ft Boat; Up to 50 Ft Boat; Up to 60 Ft Boat Terms Considered: Cash; Conventional; Lease Option; Lease Purchase; Seller Financing Utilities: Cable; Electric; Public Sewer; Public Water Window Treatments: Impact Glass Taxes: City/County; New Construction Possession: Funding Contingencies: None Contributions: Closing Costs

Room Information

Living Room Length: 18.00 Width: 12.00 Length: 18.00 Level: Main Width: 12.00 Kitchen Length: 12.00 Width: 10.00 Length: 12.00 Level: Main Width: 10.00 Master Bedroom Length: 16.00 Width: 12.00 Length: 16.00 Level: Main Width: 12.00
Listing Office: Compass Florida LLC
IDX
Last Updated: March - 04 - 2022
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