E 340350 Ocean DR, Key Colony, FL 33051
E 340350 Ocean DR, Key Colony, FL 33051
E 340350 Ocean DR, Key Colony, FL 33051
E 340350 Ocean DR, Key Colony, FL 33051
E 340350 Ocean DR, Key Colony, FL 33051
E 340350 Ocean DR, Key Colony, FL 33051
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Listed by Jennifer Hamill Coldwell Banker Schmitt Real Estate Co.
$ 1,550,000
Est. payment | /mo

5 Beds

3 Baths

2,918 SqFt


Save
$ 1,550,000
Est. payment | /mo
Save

5 Beds

3 Baths

2,918 SqFt

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,918 sqft

Price per Sqft $531

Subdivision Key Colony Bch Yacht (53.5)

MLS Listing ID 619018

Style Above Flood

Bedrooms 5

Full Baths 3

HOA Y/N No

Year Built 1986

Annual Tax Amount $9,835

Tax Year 2025

Lot Size 5,859 Sqft

Acres 0.13

Property Sub-Type Duplex

Land Area 2918

Property Description

Investors! Full Duplex! Own both sides! This is rare opportunity to own a legal duplex being sold in the heart of Key Colony Beach in the beautiful Florida Keys. Located just one street off the Atlantic Ocean, 340-350 E Ocean Drive offers exceptional space, boating access, and an amazing investment opportunity with flexibility at a competitive price designed to sell.
With 5 bedrooms, 3 bathrooms, and over 2,900 sq ft of living space, this property provides the rare opportunity to own a large waterfront home while still benefiting from the layout of a legal duplex. Sold together as a single property, it offers incredible versatility for full-time living, vacation use, or income-producing investment.
Boaters will appreciate 50 feet of dockage with dual docks, allowing space for multiple vessels and providing a quick, easy ride to the open Atlantic for world-class fishing and boating.
The 340 E Ocean Drive side features towering ceilings and dramatic floor-to-ceiling windows, filling the home with natural light while showcasing beautiful canal views from multiple areas. This side includes 3 bedrooms, 2 bathrooms, and a private balcony to enjoy the coastal breeze.
The 350 E Ocean Drive side offers 2 bedrooms and 1 bathroom, along with its own private balcony overlooking the canal, the perfect spot to enjoy a morning coffee or evening sunset.
Head over to the Cabana Club which is just steps away, for some fun in the sun!
Enjoy both ocean and canal views from this prime location just steps from the Atlantic. With a proven rental history, this property offers outstanding flexibility. Owners have the flexibility to live in one side and rent the other or rent both for maximum income potential.
Updates include;
•Impact windows and doors (2021)
•5V Metal Crimp Roof (2021)
•AC ( 2021 & 2023)
•New Dock Posts (2024)

Competitively priced and offering size, dockage, and location, this is a standout opportunity to own a versatile waterfront property in Key Colony

Location

State FL

County Monroe

Community Bike Paths, Beach, Tennis Court(S)

Area 17 - Vaca Cut - Both Sides Holiday Inn/Key Colony

Zoning R-2A - Key Colony Two Family

Direction US 1 TO SADOWSKI CSWY TO EAST OCEAN DR

Interior

Interior Features Utility Room, Built-in Cabinets, Cathedral Ceilings, Storage, Window Treatments

Heating Forced Air

Cooling Central Air

Flooring Vinyl

Furnishings Furnished

Window Features Impact Rstnce Doors,Impact Rstnce Window

Appliance Dryer, Washer, Dishwasher, Microwave, Oven, Refrigerator

Exterior

Exterior Feature Storage, Shed

Parking Features Open

Community Features Bike Paths, Beach, Tennis Court(s)

Utilities Available FKAA, Sewer Available

Waterfront Description Canal Front

Roof Type Metal Roof

Porch Open Porch/Balcony, Deck

Garage No

Building

Architectural Style Above Flood

Others

HOA Fee Include None

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Pets Allowed Yes

Nearby Locations

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E 340350 Ocean DR