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$849,900 Just Listed

  • For Sale
  • Active
  • Condo
  • 2 Beds
  • 2 Full Baths
  • 766 Sq. Ft.
  • Updated 2 days ago
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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 $100,000 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. Spacious Living Room - Dinning Room with excellent Water Vistas of the Saltwater Lagoon. Walk on out to the 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. There is also a 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, Paradise Awaits!

Full Property Details for 1500 Ocean Bay Dr #E5

General

  • Price: $849,900
  • HOA FEE: $850/month
  • Taxes: $5,224 (2025)
  • Status: Active
  • Type: Condo
  • Source: 927
  • MLS ID: 619402
  • Updated: 4/8/2026
  • Added to Site: 3 day(s) ago

Interior

  • Rooms/Areas: Laundry Room
  • Interior Features: Drapes/Blinds Incl, Smoke Alarms, Storage
  • Appliances: Washer, Stainless Steel Appliance(s), Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
  • Furnished: Yes
  • Furnishings: Furnished
  • Flooring: Tile, Laminate

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Full Bathrooms: 2

Bedrooms

  • Total Bedrooms: 2

Additional Information

  • Shared Amenities: Community Pool, Beach, Manager on Premises, Tennis Courts, Community Boat Ramp, Community Dockage
  • Pool: Yes
  • Pool Description: In Ground
  • Security/Safety: Electric Gate, Patrolled Area, Manned Gate

Exterior

  • Deck/Patio: Open Porch/Balcony, Screened P/B

Parking

  • Parking: Open Parking, Trailer Storage, Guest Parking

Location

  • Area: 27 - Key Largo MM 97-107
  • County: Monroe
  • Subdivision: Kawama Yacht Club (100.0)

Community

  • Assoc. Fees Include: Cable, Security, Common Area Mnt, Building Insurance, Bldg Exterior Mnt, Exterminating
  • Pets Allowed: Yes

Heating & Cooling

  • Cooling Type: Central Air, Ceiling Fans(s)
  • Heating Type: Central

Utilities

  • Water: Salt Ponds
  • Utility Description: FKAA, Cable Available, Buyer to Verify, Municipal Sewer

Structural Information

  • Architectural Style: Condo
  • Construction Status: Updated/Remodeled
  • Construction: CBS, Concrete
  • Roof: Metal Roof
  • Windows/Doors: Single Hung Windows, Sliding Glass Doors
  • Square Feet: 766
  • Sq. Ft. Source: Tax Records
  • Year Built: 1975
  • Property Condition: Updated/Remodeled

Unit Information

  • Unit Type: Complex

Lot Features

  • Lot Dimensions: x
  • Zoning: MF - Multi-Family Attached

Water Features

  • Water Front: Yes
  • Water View: Yes
  • Water Front Type: Oceanfront, Salt Ponds
  • Dock Description: Boat Ramp, Other Dockage

Financial Considerations

  • Association Fee: Yes
  • Association Fee: $850
  • Assoc Fee Freq.: Monthly
  • Tax Amount: $5,224
  • Tax Year: 2025
  • Terms: Cash, Conventional

Disclosures and Reports

  • Legal Description: UNIT 5 KAWAMA YACHT CLUB OF KEY LARGO PHASE ONE SEC ONE BLDG E OR686-815 OR777-526 OR811-46 OR1184-392 OR1220-218 OR1451
  • Restrictions: Yes
  • Flood Zone: AE
  • Rentals Allowed: Yes
  • APN: 00090491-000505

Listed by Water Vista Realty, Inc., Dan Cloud (305) 396-7844

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Listing agent

— 1500 Ocean Bay Dr #E5 —

  • Dan Cloud

    Water Vista Realty, Inc.

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Price & Sales History for 1500 Ocean Bay Dr #E5 Get Price Alerts and Save Property

Date
Details
Price
Change
Source
4/08/2026
Listed
$849,900
88.87%
MLS
8/13/2021
Sold
$450,000
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 1500 Ocean Bay Dr #E5

Year
Property Taxes
Change
Tax Assessment
Change
2024
$4,604
—
$618,807
18%
2024
$4,604
8%
$525,836
4%
2023
$4,273
76%
$507,242
112%
2021
$2,433
-33%
$238,862
-39%
2022
$3,622
49%
$391,487
98%
2021
$2,433
12%
$197,627
3%
2019
$2,174
—
$192,624
4%
2018
$2,171
3%
$184,879
-9%
2017
$2,109
3%
$203,665
8%
2016
$2,041
1%
$189,265
36%
2015
$2,013
13%
$138,903
10%
2014
$1,786
4%
$126,276
10%
2013
$1,714
—
$114,797
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Water Vista Realty, Inc., Dan Cloud (305) 396-7844

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1500 Ocean Bay Drive #E5, Key Largo, FL 33037 (MLS# 619402) is a Condo property with 2 bedrooms and 2 full bathrooms. 1500 Ocean Bay Drive #E5 is currently listed for $849,900 and was received on April 08, 2026. Want to learn more about 1500 Ocean Bay Drive #E5? Do you have questions about finding other Condo real estate for sale in Key Largo? You can browse all Key Largo real estate or contact a Coldwell Banker agent to request more information.

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