# 1530 Ocean Bay Drive, Key Largo, FL 33070

> **TL;DR:** 2bd/2ba condo, $859,900 ($724/sqft), built 1993, 1,188 sqft.
> Pool, Waterfront, View, A/C. Est. $5,166/mo. Listed 46 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $859,900 |
| Price/sqft | $724 |
| Bedrooms | 2 |
| Bathrooms | 2 full |
| Square Feet | 1,188 |
| Year Built | 1993 |
| Property Type | Condo (Condominium) |
| Status | For Sale |
| Days on Market | 46 |

## Why This Home Stands Out

- **Pool** - Porch
- **Waterfront** - Direct water access
- **Views** - Water

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $3,726 |
| HOA | $1,440 |
| **Total** | **$5,166** |

## Key Amenities

- Pool
- Waterfront
- View
- A/C

## Property Highlights

- Built in 1993
- Private pool
- Waterfront

## Description

### Agent Description
Agent is also the owner. This property is being sold with over 100 5 STAR reviews on VRBO. This many reviews take years to attain. Kawama Tower is one of the very few communities in Key Largo that legally allows short-term daily rentals, making this an exceptional investment opportunity with strong passive-income potential. This property has generated over $110,000 per year in rental income for the last 3 years . Kawama Tower is approved for DSCR loans that are based solely on potential rental income. Contact Listing agent/ Owner for details. This beautifully updated 2-bedroom, 2-bath condo with a great view has been fully remodeled by a professional interior designer, offering a modern coastal aesthetic, turnkey furnishings, and a spacious layout ideal for both personal enjoyment and rental guests. Located in an oceanfront, gated resort community, this unit offers marina views and access to premium amenities including a private sandy beach, saltwater lagoon, heated pools, tennis courts, playground, boat ramp, on-site security, and more. Highlights: Fully renovated 2/2 with designer finishes Oceanfront community with marina views One of the few Key Largo neighborhoods permitting short-term rentals Turnkey and ready for immediate occupancy or rental Resort amenities: pools, lagoon, beach, tennis, boat ramp, 24/7 security Gated community at MM 100, close to Pennekamp, dining, and shopping This is a rare opportunity to own a high-performing, short-term rental in one of the most desirable oceanfront communities in the Upper Keys.

## Location

- **Address:** 1530 Ocean Bay Drive, Key Largo, FL 33070
- **County:** Monroe
- **Neighborhood:** Kawama Tower (100.0)
- **Coordinates:** 25.078395, -80.443254
- **Google Maps:** https://www.google.com/maps?q=25.078395,-80.443254

## Listing Agent

- **Name:** Diana Valbuena
- **Brokerage:** Pedrin of Miami Realty, Inc.
- **Phone:** 3057215775
- **Email:** valbuenapartners@gmail.com

## Primary Photo

![1530 Ocean Bay Drive - Primary Photo](http://lh.rdcpix.com/b9fd253d1a5f0a01824ee34d9b1cf4ebl-f3813718935r.jpg)

*70 total photos available on [listing page](https://www.propertysimple.com/listing/1530-ocean-bay-drive-key-largo-fl-33070-l619532)*

---

**MLS#:** 619532 | **Updated:** 2026-06-18
**Source:** listhub

*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.*

[View on PropertySimple](https://www.propertysimple.com/listing/1530-ocean-bay-drive-key-largo-fl-33070-l619532)

---

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