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About This Home

This 2-bedroom, 2-bathroom condo at 1500 Ocean Bay Drive in Key Largo, FL is listed for $839,000 ($1,095 per sqft). Built in 1975, the home offers 766 sqft of living space on a N/A lot.

Agent Description

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 $98,980 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!

Key Features

  • Built in 1975
  • Private pool
  • Waterfront

Property Details

2 full
#E5
1975

Amenities

PoolWaterfrontA/C

Monthly Cost Estimate

$5,337/mo

20% down · 6.5% · 30 years

Principal$607
Interest$3,636
Insurance$245
HOA$850

Estimates only. Actual payments may vary.

Location

1500 Ocean Bay Drive

Key Largo, FL 33037

Kawama Yacht Club (100.0)

Features & Amenities

Interior Features

Storage

Property Details

Flooring

TileLaminate

Construction

CBS Concrete

Pool Features

Porch

Parking

Open

Heating

Central

Cooling

Central Air

Appliances

WasherDryerDishwasherRefrigeratorRangeOvenMicrowaveStainless Steel Appliance(s)

Questions & Answers

This 2-bedroom, 2-bathroom condo at 1500 Ocean Bay Drive is listed at $839,000 ($1,095/sqft). The estimated monthly payment is $4,486 based on 20% down at 6.5% interest.

HOA fees are $850/month.

Key features include: Built in 1975, Private pool, Waterfront. Interior Features: Storage.

This property is listed by Dan Cloud and can be reached at 3053967844 or dancloudwvr@gmail.com.

DC

Dan Cloud

Agent at Water Vista Realty, Inc.

(305) 396-7844

Listed by Water Vista Realty, Inc. · View on Broker Site

MLS# 619402· Source: listhub· Updated 54 days ago

Copyright © 2026 Florida Keys Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

1500 Ocean Bay Drive, Key Largo, FL 33037

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