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$672,000

  • Sold
  • Closed
  • Condo
  • 2 Beds
  • 2 Full Baths
  • 1,188 Sq. Ft.
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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.

Full Property Details for 1530 Ocean Bay Dr #508

General

  • Sold For: $672,000
  • HOA FEE: $1,055/month
  • Taxes: $4,719 (2024)
  • Status: Closed
  • Type: Condo
  • Source: 927
  • MLS ID: 615672
  • Added to Site: 231 day(s) ago

Interior

  • Interior Features: Drapes/Blinds Incl, Built-in Cabinets, Window Treatments, Walk-in Closet(s), Smoke Alarms, Elevator, Granite Counter Top
  • Appliances: Washer, Disposal, Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
  • Furnished: Yes
  • Furnishings: Furnished
  • Flooring: Laminate

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Full Bathrooms: 2

Bedrooms

  • Total Bedrooms: 2

Additional Information

  • Pool: Yes
  • Pool Description: In Ground

Exterior

  • Exterior Features: Tennis Court(s)
  • Deck/Patio: Open Porch/Balcony

Parking

  • Parking: Open Parking

Location

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

Community

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

Heating & Cooling

  • Cooling Type: Ceiling Fans(s)
  • Heating Type: Hot Water

Utilities

  • Water: Ocean View
  • Utility Description: Cable Available

Structural Information

  • Architectural Style: Condo
  • Construction: CBS, Stucco
  • Windows/Doors: Impact Rstnce Window, Impact Rstnce Doors
  • Wiring: Cable
  • Stories/Levels: 5 Stories
  • Square Feet: 1,188
  • Sq. Ft. Source: Tax Records
  • Year Built: 1993

Unit Information

  • Unit Type: Unit

Lot Features

  • Lot Size (Sq. Ft.): 1,322
  • Zoning: MI - Maritime Industries District

Water Features

  • Water Front: Yes
  • Water View: Yes
  • Water Front Type: Oceanfront
  • Dock Description: Boat Ramp

Financial Considerations

  • Association Fee: Yes
  • Association Fee: $1,055
  • Assoc Fee Freq.: Monthly
  • Maint. Fee: $385
  • Tax Amount: $4,719
  • Tax Year: 2024
  • Terms: Cash, Conventional

Disclosures and Reports

  • Legal Description: UNIT 508 KAWAMA TOWER A CONDOMINIUM OR1374-1421/22 OR2632-1343
  • Flood Zone: AE, AE
  • Rentals Allowed: Yes
  • APN: 00090495-000508

Listed and Sold by Pedrin of Miami Realty, Inc., Diana Valbuena (305) 721-5775

Listing agent

— 1530 Ocean Bay Dr #508 —

  • Diana Valbuena

    Pedrin of Miami Realty, Inc.

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 1530 Ocean Bay Dr #508

School District:Monroe County School District, Middle Torch Key, FL
NameGradesDistance
Key Largo School
104801 Overseas Highway, Key Largo, FL 33037
PK-86.4 mi
Key West High School
2100 Flagler Avenue, Key West, FL 33040
9-1291.1 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1530 Ocean Bay Dr #508

Date
Details
Price
Change
Source
12/08/2025
Sold
$672,000
-7.93%
MLS
10/06/2025
Price Reduced
$729,900
-3.95%
MLS
9/15/2025
Price Reduced
$759,900
-7.32%
MLS
7/03/2025
Listed
$819,900
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed and Sold by Pedrin of Miami Realty, Inc., Diana Valbuena (305) 721-5775

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1530 Ocean Bay Drive #508, Key Largo, FL 33037 (MLS# 615672) is a Condo property that was sold at $672,000 on December 08, 2025. Want to learn more about 1530 Ocean Bay Drive #508? 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.