$9,975,000
2264 Overseas Hwy #1-8
Marathon, FL 33050
MLS# RX-10676029
Status: Closed
32 beds  |  24 baths  |  11804 sqft


2264 Overseas Hwy #1-8, Marathon, FL 33050
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Property Description
Built in 2018, turnkey waterfront vacation rental development comprised of eight single family houses, each with four bedrooms and three full bathrooms built to current windstorm standards. Each home is designed for guests to enjoy their own private pool, laundry, outdoor grill area, covered parking and balconies. Excellent rental history and future bookings with tremendous growth opportunity. This vacation rental compound was built to maximize income and minimize overhead. Guests can enjoy the community beach, docks, tiki hut, fish cleaning station, plus nearby amenities including tons of dining options such as Florida Keys Steak and Lobster House, major food and home shopping chains, two major marinas and Marathon Airport.

Details
Maps
Contract Information
Listing Date: 2020-12-04
Status: Closed
Go Active Date: 2020-12-07
Original List Price: 9875000
Auction: No
List Price: $9,975,000
Current Price: $8,650,000
List Price/SqFt: 845.05
General Property Description
Type: Single Family Detached
Governing Bodies: None
Main Level Bedrooms: 32
Total Bedrooms: 32
Main Level Bathrooms: 24
Baths - Full: 24
Baths - Total: 24
Property Condition: Resale
Year Built: 2018
Builder Model: Vacation Rentals
SqFt - Total: 23680
SqFt - Living: 11804
SqFt Source: Appraisal
Gated Community: No
Covered Spaces: 16
Open Parking Spaces: 16
Year Roof Installed: 2018
Homeowners Assoc: None
Association Deposit: No
Membership Fee Required: No
Directions: Located next to the newly constructed Courtyard by Marriott in Marathon, FL at mile marker 48.2 in the Florida Keys.
Subdivision: Keys Cove
Development Name: Keys Cove
Legal Desc: 9 66 32 KEY VACCAS PT LOT 1 AND ADJ PT R-O-W OR71-43 OR73-462 OR499-151/52 OR499-154/55 OR570-338E OR775-977 OR944-192QC
Lot SqFt: 60306
Waterfront: Yes
Waterfrontage: 110
Dock: 8
Front Exp: South
Private Pool: Yes
Bldg #: 1-8
Pets Allowed: Yes
Pets on Premises: No
Total Floors/Stories: 2
Total Units in Bldg: 1
Ttl Units in Complex: 8
Location Tax Legal
Area: 5940
County: Monroe
Parcel ID: 00102290000000
Street #: 2264
Street Name: Overseas Hwy #1-8
Zip Code: 33050
Geo Lat: 24.710454
Geo Lon: -81.102534
Status Change Info
Under Contract Date: 2022-01-31
Sold Date: 2022-03-04
Sold Price: 8650000
Terms of Sale: Trade or Exchange
Sold Price/SqFt: 732.8
Lease Info
Min Days to Lease: 7
Lease Times p/Year: 52
Private Pool Description
Pool Size (W x L): 8 Pools 20x12
Storm Protection
Impact Glass: Complete
Concessions
Seller Concessions: No
Contributions
Buyer Contributions: Yes
Property Features
Design: Key West
Construction: Concrete; Modular
View: Ocean
Waterfront Details: Navigable; No Fixed Bridges; Ocean Access; Oceanfront; Seawall
Lot Description: 1 to < 2 Acres
Exterior Features: Covered Patio; Deck; Open Balcony
Interior Features: Stack Bedrooms
Furnished: Furnished
Rooms: Family; Laundry-Inside
Parking: 2+ Spaces; Carport - Attached; Driveway
Restrict: None
Membership: No Membership Avail
Flooring: Tile
Heating: Central
Cooling: Ceiling Fan; Central
Dining Area: Dining/Kitchen; Eat-In Kitchen; Snack Bar
Roof: Metal
Boat Services: Private Dock; Common Dock; Up to 40 Ft Boat; Up to 50 Ft Boat; Up to 60 Ft Boat
Terms Considered: Cash; Conventional; Lease Option; Lease Purchase; Seller Financing
Utilities: Cable; Electric; Public Sewer; Public Water
Window Treatments: Impact Glass
Taxes: City/County; New Construction
Possession: Funding
Contingencies: None
Contributions: Closing Costs
Supplements
Monthly rental rates average $12,400/mo for units 1-5 and $16,500/mo for units 6-8. Marathon is a 10-mile-long island community conveniently situated in the middle of the Keys island chain, comprised mainly of Vaca Key, Fat Deer Key and Grassy Key. Residents, snowbirds and visitors enjoy Marathon's fishing heritage, an old-Keys lifestyle and seafaring traditions, a theme celebrated in the area's accommodations, such as private waterfront vacation homes, small hotels, beachside inns and tropical, family-style resorts; and annual seafood festivals and waterside restaurants that harvest fresh fish, lobster and stone crab claws from local waters. Marathon is one of the Keys' most marine-friendly cities with nearly 1,200 wet slips, 1,200 dry slips and major facilities to accommodate transient cruisers.Marathon City Marina, considered the Keys' jewel for cruisers, administers 226 mooring balls and has limited dockage. Both mooring balls and dockage are available by the day, week or month.There are also special mooring and managed anchorage fields in Boot Key Harbor as part of a statewide environmental protection pilot program. Boats on a mooring ball do pay a fee.Other features include two dinghy docks, storage, private showers and bathroom facilities, social center, coin-operated laundry and parking.Florida Keys Marathon International Airport busily accommodates a full range of services for general aviation enthusiasts and corporate jet operators. Two full-service FBO's offer fuel, maintenance, tie-down, pilot and passenger facilities. Ground transportation options are available including an airport shuttle, car rental agencies and taxi service.Marathon offers spectacular sailing, fishing, world-class wreck and reef diving and snorkeling, in addition to the island's impeccably maintained beaches, eco-attractions and marine-based educational programs.Iconic learning centers with educational focus where visitors can enjoy unique interactive experiences include The Turtle Hospital, which was the world's first licensed veterinary hospital dedicated to the treatment of sea turtles, and Dolphin Research Center, a not-for-profit education and research facility since 1984.Florida Keys Aquarium Encounters features a coral reef exhibit and a predatory fish habitat housed in a 200,000-gallon interconnected saltwater aquarium.Visitors can enjoy an immersive, interactive experience where they can touch, feel and feed reef fish, invertebrates, stingrays and even sharks.At Crane Point Museum, Nature Center & Historic Site, visitors can hike through a wondrously preserved tropical hardwood grove and visit the home of an early 20th-century settler family.Visitors to the five-acre Pigeon Key venture back in time to experience a tiny island that once served as a home base for workers building the Florida Keys Over-Sea Railroad.A federally protected section of the United States' only living coral barrier reef lies just a few miles offshore, at teeming formations such as Delta Shoals, Coffin Patch and Sombrero Reef, shallow sites popular for students learning to scuba dive.In the deeper blue waters of the Florida Straits lie artificial reefs and the purposely-sunk wreck of the Thunderbolt.On the north side of the island lie the calm waters of the Gulf of Mexico, Florida Bay and the Keys backcountry.
Room Information
Room Name Length Width Length Level Width
Living Room18.0012.0018.00Main12.00
Kitchen12.0010.0012.00Main10.00
Master Bedroom16.0012.0016.00Main12.00

Listing Office: Compass Florida LLC

Last Updated: March - 04 - 2022

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