1500 Ocean Bay Dr Unit C4, Key Largo, FL 33037

Property Description

Owner is the listing agent. Fully remodeled 2 bed, 2 bath condo directly on the lagoon at Kawama Yacht Club in Key Largo, with great water views from the unit. Being sold turnkey, so the next owner can keep renting from day one without having to furnish, equip, or set up anything. This is an established short-term vacation rental with strong guest reviews and a proven income history: approximately $105,000 in rental revenue in 2024, $103,000 in 2025, and $90,000 so far in 2026. Future bookings are already paid and on the calendar, so income continues after closing. The consistent results over three years show this is not a one-season success but a property that performs year after year. Location is a big part of what makes this unit work. Key Largo is the first stop in the Florida Keys and an easy drive from Miami, making it a popular getaway for South Florida visitors and travelers from out of state. Guests come for the water, diving, snorkeling, fishing, and boating, and John Pennekamp Coral Reef State Park is close by. Waterfront condos with this kind of track record are not easy to find in the Upper Keys. The seller has been a Key Largo real estate investor for over 12 years and will personally help the buyer set up rental platforms and transition existing reservations so there is no gap in bookings. For a new investor, that guidance can save months of trial and error. For an experienced investor, it means a smooth handoff and immediate cash flow. An ideal opportunity for an investor looking for a proven, income-producing property on the water, or a second-home buyer who wants to enjoy the Keys and let the rental help cover ownership costs. Income documentation available to qualified buyers upon request. Buyer to verify all rental regulations and association rules