231 E Shore Drive #Unit 3, Key West, FL 33040 - Photo 1

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$4,375,000

For Sale
Active
Single Family
5 Beds
5 Full Baths
1 Partial Bath
4,103 Sq. Ft.
Updated 4 days ago

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Property Description

Introducing Seven Palms Cove, a one-of-a-kind new construction community that redefines luxury island living. With only seven exclusive residences available-each starting at $4 million-this private enclave offers a rare opportunity to own a slice of paradise just minutes from the heart of Key West. Each state-of-the-art home spans over 4,000 square feet and features 5 spacious bedrooms, 5.5 elegantly designed bathrooms, open balconies, and your own private rooftop terrace with sweeping water views. Built with impact glass throughout and outfitted with top-of-the-line appliances and finishes, these homes offer modern sophistication at every turn. Step outside to your own sparkling infinity-edge pool positioned right on the water, and enjoy direct access to the sea from your assigned dock space in a private boat basinperfect for boating enthusiasts. This gated, oceanfront community is ideally located just a block from a private airport that accommodates small aircraft, adding a level of convenience few properties can match. You'll also enjoy resort-style amenities, including on-site pickleball courts and a serene waterfront atmosphereall while being just a short drive to the shops, restaurants, and attractions of Key West. For investors, Seven Palms Cove is an absolute dream. There are no rental restrictions, and similar properties just across the street are bringing in over $300,000 in annual income. Whether you're looking for a luxury vacation home or a high-performing investment property with incredible short-term rental potential, this community offers unmatched flexibility and return potential. Whether you're searching for a forever home, a tropical getaway, or a high-yield asset in the Keys, Seven Palms Cove delivers the perfect blend of comfort, exclusivity, and opportunity. Call us today for pricing details and to schedule your private tour of this exceptional waterfront retreat.

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Full Property Details

Full Property Details for 231 E Shore Dr #Unit 3

General

Price: $4,375,000
HOA FEE: $1,391/month
Taxes: $19,000 (2024)
Status: Active
Type: Single Family
Source: Regional
MLS ID: R11113457
Updated: 2/25/2026
Added to Site: 208 day(s) ago

Interior

Number of Rooms: 4
Interior Features: Built-in Features, Dual Sinks, Entrance Foyer, Elevator, Pantry, Tub Shower, Upper Level Primary, Walk-In Closet(s)
Appliances: Dryer, Dishwasher, Disposal, Microwave, Refrigerator, Washer
Furnishings: Unfurnished
Flooring: Other, Wood

Rooms

Bathrooms

Total Bathrooms: 6
Full Bathrooms: 5
Half Bathrooms: 1
Main Floor Baths: 1

Bedrooms

Total Bedrooms: 5
Bedrooms Main: 1

Other Rooms

Laundry: Inside, Laundry Closet

Additional Information

Shared Amenities: Bike Storage, Boating, Elevator(s), Pickleball
Pool: Yes
Private Pool: Yes
Pool Description: In Ground
Security/Safety: Gated Community, Smoke Detector(s)

Exterior

Exterior Features: Balcony, Outdoor Living Area
Porch/Patio/Deck: Deck, Open, Porch, Balcony

Parking

Carports: Yes
Carport Spaces: 2
Covered Spaces: 2
Parking Features: Attached Carport, Covered

Location

County: Monroe
Subdivision: The Seven Palms - A Key West Oasis
Driving Directions: Turn Oceanside onto E Shore Dr (SR-942) at Mile Marker 25. The destination is ahead on the left.
Direction Faces: East

School Information

Elementary School: Sugarloaf
Middle School: Sugarloaf
High School: Key West

Community

Community Name: 5940 - Other Florida County
Association: Yes
Units Assoc/Comm: 7
Pets Allowed: Yes

Heating & Cooling

Central air: Yes
Air Conditioning: Yes
Cooling Type: Central Air, Ceiling Fan(s)
Heating Type: Central, Natural Gas, Other

Utilities

Sewer: Public Sewer
Water: Public
Utility Description: Sewer Available, Water Available

Structural Information

Architectural Style: Other
Construction: Block
Roof: Metal
Stories/Levels: 2
Building Size: 6514
Square Feet: 4,103
Living Area: 4,103 Sq. Ft.
Year Built: 2025
Property Condition: New Construction

Lot Features

Property View: Ocean
Lot Size (Acres): 3.34
Lot Size (Sq. Ft.): 145,490.4
Street Lights: Yes
Lot Features: 2-3 Acres
Zoning: SR

Water Features

Water Front: Yes
Water Front Desc.: Ocean Access
Water Front View: Ocean Access
Boat Dock Slip: Yes

Financial Considerations

Association Fee: $1,391
Assoc Fee Freq.: Monthly
Tax Amount: $19,000
Tax Year: 2024
Terms: Cash, Conventional

Disclosures and Reports

Legal Description: LT 17 SUMMERLAND ESTATES SUMMERLAND KEY PB2-167 OR365-904 OR367-388 OR774-400 OR774-1530 OR2018-597 OR2071-1193 OR20711
Property ID: 200610000000

Listed by Serhant

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Price & Sales History for 231 E Shore Dr #Unit 3 Get Price Alerts and Save Property

Date

Details

Price

Change

Source

1/27/2026

Price Increased

$4,375,000

6.06%

MLS

8/06/2025

Listed

$4,125,000

—

MLS

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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.

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Listed by Coldwell Banker Schmitt Islamorada, Lauren Hoefert Dunn and Coldwell Banker Schmitt Real Estate Co. (KW), Sarah Eckert

231 E Shore Drive #Unit 3, Key West, FL 33040 (MLS# R11113457) is a Single Family property with 5 bedrooms, 5 full bathrooms and 1 partial bathroom. 231 E Shore Drive #Unit 3 is currently listed for $4,375,000 and was received on August 06, 2025. Want to learn more about 231 E Shore Drive #Unit 3? Do you have questions about finding other Single Family real estate for sale in Key West? You can browse all Key West real estate or contact a Coldwell Banker agent to request more information.

231 E Shore Dr #Unit 3 Key West, FL 33040