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Joy Martin

joy@joycmartin.com +1(305) 394-7866

Listed by Jesus Parra Coldwell Banker Schmitt Real Estate Co.

$ 1,200,000

Est. payment | -/mo

4 Beds

4 Baths

1,888 SqFt

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$ 1,200,000

Est. payment | -/mo

Save Virtual Tour

4 Beds

4 Baths

1,888 SqFt

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 1,888 sqft

Price per Sqft $635

Subdivision Key Colony Sub (53.0)

MLS Listing ID 621548

Style Above Flood

Bedrooms 4

Full Baths 3

Half Baths 1

HOA Y/N No

Year Built 1973

Annual Tax Amount $6,356

Tax Year 2025

Lot Size 9,613 Sqft

Acres 0.22

Lot Dimensions X

Property Sub-Type Duplex

Land Area 1888

Property Description

Duplex opportunity in the heart of Marathon with two legal addresses: 10881 7th Avenue Gulf and 10883 7th Avenue Gulf. This updated DUPLEX offers excellent flexibility for investors, owner occupants, or those looking to live in one unit and rent the other. The first floor residence features 3 bedrooms, 2.5 baths, a private entrance, its own patio area, separate laundry, and separate electric and water meters. It is currently rented for $3,700/month on a month to month basis, with the tenant open to a one year lease. The second floor unit offers 1 bedroom, 1 bath, its own private staircase and entrance, a dedicated outdoor sitting area, separate laundry, and separate utility meters. The upstairs unit is currently vacant and was most recently rented for $3,000/month, providing demonstrated combined rental potential of approximately $6,700/month or $80,400 annually.

The property has been renovated and updated and offers exceptional parking for 5+ vehicles, with ample room for cars, boats, trailers and more.

Adding even more value, approved plans convey with the sale for a substantial two-story garage and storage building at the rear of the property. The approved design includes approximately 2,768 sq. ft. of enclosed space, with a 1,440 sq. ft. shared garage on the first floor and additional dedicated and shared storage areas, two bathrooms, and mechanical space upstairs.

A rare opportunity to combine strong rental income, separate living spaces, extensive parking, and future garage/storage potential, all offered at $1,200,000.

Location

State FL

County Monroe

Area 15 - Sombrero Bch Rd To Vaca Cut Gulfside

Zoning RM - Residential Medium

Direction From US-1, turn onto 107th Street Gulf. Continue toward the Gulf, then turn onto 7th Avenue Gulf. Property is located at 10881 & 10883 7th Avenue Gulf.

Interior

Interior Features Walk-in Closet(s), Built-in Cabinets, Storage

Cooling Central Air

Flooring Vinyl

Furnishings Unfurnished

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

Exterior

Exterior Feature Storage

Parking Features Off Street

Utilities Available Electric Separate Meter, Cable Available, FKAA, Municipal Sewer, Water Separate Meter, Buyer To Verify

Waterfront Description None

Garage No

Private Pool No

Building

Architectural Style Above Flood

New Construction No

Others

HOA Fee Include None

Senior Community No

Tax ID 0033517-0000000

Pets Allowed Yes

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10881 7th Avenue Gulf Marathon, FL 33050

Joy Martin

Key Details

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Interior

Exterior

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10881 7th Avenue Gulf