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$786,000

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

Full Property Details for 1530 Ocean Bay Dr #509

General

  • Sold For: $786,000
  • HOA FEE: $1,350/month
  • Taxes: $6,290 (2024)
  • Status: Closed
  • Type: Condo
  • Source: 927
  • MLS ID: 614754
  • Added to Site: 269 day(s) ago

Interior

  • Rooms/Areas: Laundry Room
  • Interior Features: Split Bedroom, Quartz Countertops, Storage, Granite Counter Top
  • Appliances: Washer, Stainless Steel Appliance(s), Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
  • Furnished: Yes
  • Furnishings: Furnished
  • Flooring: Tile

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Full Bathrooms: 2

Bedrooms

  • Total Bedrooms: 2

Additional Information

  • Shared Amenities: Community Pool, Bike Paths, Beach, Tennis Courts, Community Boat Ramp
  • Pool: Yes
  • Pool Description: In Ground, Concrete
  • Security/Safety: Manned Gate

Exterior

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

Parking

  • Parking: Assigned Parking, Trailer Storage, Guest Parking

Location

  • Area: 27 - Key Largo MM 97-107
  • County: Monroe
  • Subdivision: Kawama Tower (100.0)
  • Driving Directions: At mm 100 turn onto Ocean Bay Drive, all the way to the end turn right into Kawama Yacht Club. Go through the manned gate and make an immediate left. Follow until you see the Tower.

Community

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

Heating & Cooling

  • Cooling Type: Central Air

Utilities

  • Water: Ocean View, Open Water View
  • Utility Description: FKAA, Municipal Sewer

Structural Information

  • Architectural Style: Condo
  • Construction Status: Updated/Remodeled
  • Construction: CBS, Concrete
  • Roof: Concrete Roof
  • Windows/Doors: Impact Rstnce Window, Impact Rstnce Doors
  • Stories/Levels: 5 Stories
  • Square Feet: 1,188
  • Sq. Ft. Source: Tax Records
  • Year Built: 1993
  • Property Condition: Updated/Remodeled

Unit Information

  • Unit Type: Unit

Lot Features

  • Zoning: SR - Sub Urban Residential District

Water Features

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

Financial Considerations

  • Association Fee: Yes
  • Association Fee: $1,350
  • Assoc Fee Freq.: Monthly
  • Tax Amount: $6,290
  • Tax Year: 2024
  • Terms: Cash, Conventional

Disclosures and Reports

  • Legal Description: UNIT 509 KAWAMA TOWER A CONDOMINIUM OR1376-116/17 OR1668-2470/71 OR1810-353AFF OR2180-807 OR2383-449 OR2566-833/34 OR25
  • Flood Zone: AE, AE
  • Rentals Allowed: Yes
  • APN: 00090495-000509

Listed and Sold by American Caribbean Real Estate, Christie's International Real Estate, Terry Canto,Top Producer (305) 394-3037

Listing agent

— 1530 Ocean Bay Dr #509 —

  • Terry Canto,Top Producer

    American Caribbean Real Estate, Christie's International Real Estate

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 #509

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 #509

Date
Details
Price
Change
Source
8/25/2025
Sold
$786,000
-4.73%
MLS
7/04/2025
Price Reduced
$825,000
-2.37%
MLS
4/23/2025
Listed
$845,000
—
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 American Caribbean Real Estate, Christie's International Real Estate, Terry Canto,Top Producer (305) 394-3037

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1530 Ocean Bay Drive #509, Key Largo, FL 33037 (MLS# 614754) is a Condo property that was sold at $786,000 on August 25, 2025. Want to learn more about 1530 Ocean Bay Drive #509? 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.