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1500 Ocean Bay Drive E5, Key Largo, FL 33037

New Listing
$849,900
Property Type: Residential Bedrooms: 2 Baths: 2 Square Footage: 766 Status: Active
Current Price: $849,900 List Date: 4/08/2026 Last Modified: 4/08/2026

Description

KAWAMA YACHT CLUB BEAUTIFULLY RENOVATED 2 Bedrooms - 2 Full Bathrooms Unit E5, CBS Block Townhome located on a beautiful Saltwater Lagoon in an Oceanfront Manned Gated Community, in the heart of Key Largo. EXCELLENT RENTAL INCOME, one of the few Florida Keys properties that can be rented DAILY-NIGHTLY, the majority of the Keys rental properties can only be rented every 28 days. CURRENTLY GENERATING RENTAL INCOME of $100,000 yearly. Being offered Turnkey, this lovely Townhome is ready for you to use or rent day one. Extensively renovated, beautiful Kitchen featuring Stainless Steel Appliances, Custom Cabinets and Lighting, Tile Backsplash, and Plantation Shutters. Spacious Living Room - Dinning Room with excellent Water Vistas of the Saltwater Lagoon. Walk on out to the Screened-In Patio with lovely Water Vistas of the Saltwater Lagoon. Beautiful Wood-Laminate Flooring throughout the lower floor and patio area. Spacious and Beautiful Master Bedroom featuring a Private Tiled Screened-In Balcony overlooking the Saltwater Lagoon below. The Master Bedroom also has a Wall Mounted TV, Ceiling Fan-Light, Beautiful Tile Flooring, and 2 Spacious Closets. The Second Bedroom features Tile Flooring, Ceiling Fan-Light, Plantation Shutters, Ceiling Mounted TV, and a Spacious Closet. There is also a Large Open Covered Patio at the entrance to the Townhome, great place to Barbecue and entertain family and guest. Community Boat Storage and Marina Boat Ramp, launch your boat on the Ocean side, World Class Fishing and Diving. This lovely community has 2 Sparkling Heated Pools, one has a wonderful Beach that leads into the Saltwater Lagoon, great for Kayaking, Paddle Boarding, and Rafting. The other Pool has a Large Tiki Hut, great for gatherings and events. Tennis and Pickle Ball Courts. Jetty with a Gazebo, Oceanfront Beaches, Tiki Huts and Bar-B-Q Grills. Excellent location to local shopping and restaurants. Miami Airport is only a 90 minute drive. Kawama, Paradise Awaits!

More Information MLS# 619402

Contract Information

Current Price: $849,900 Listing Date: 2026-04-08 Listing Board: Florida Keys List Price: $849,900

Location Tax Legal

Street #: 1500 Street Name: Ocean Bay Street Suffix: Drive Key/Island: Key Largo State/Province: FL Zip Code: 33037 County: Monroe Subdivision: Kawama Yacht Club (100.0) Area: 27 - Key Largo MM 97-107

General Property Description

Realtor.COM Type: Residential - Condo/Townhouse Style: Condo Waterfront: Yes Control Depth: 4 Unit/Complex: Complex Pool: Yes Year Built: 1975 Lot Size: X Living Apx SqFt: 766 SqFt Source: Tax Records Total Bedrooms: 2 Full Baths: 2 Total Baths: 2 Rentals Allowed: Yes Min Rental Days: 1

Status Change Info

Status: Active

Association Info

Mandatory Home Owners Asc: Yes 1st Right of Refusal: No Association Fee $: 850 Assoc/Mnt Fee Per: Monthly

Building Style

Above Flood: Unknown

Pool Info

Heated: Yes

Financial Status

Standard Sale: Yes

Property Features

Fee Includes: Bldg Exterior Mnt; Building Insurance; Cable; Common Area Mnt; Exterminating; Security Tax Exemptions: None Waterfront: Oceanfront; Salt Ponds Waterview: Salt Ponds Dockage: Boat Ramp; Other Dockage Property Condition: Updated/Remodeled Building Style: Townhouse Vehicle Storage: Guest Parking; Open Parking; Trailer Storage Furnished: Furnished Cooling: Ceiling Fans(s); Central Air Heating: Central Utilities: Buyer to Verify; Cable Available; FKAA; Municipal Sewer Interior Features: Drapes/Blinds Incl; Smoke Alarms; Storage Specialty Rooms: Laundry Room Appliances: Dishwasher; Dryer; Microwave; Oven; Range; Refrigerator; Stainless Steel Appliance(s); Washer Pool Info: In Ground Construction: CBS; Concrete Floor: Laminate; Tile Roof: Metal Roof Pets: Pets Allowed Neighborhood Feature: Beach; Community Boat Ramp; Community Dockage; Community Pool; Manager on Premises; Tennis Courts Security: Electric Gate; Manned Gate; Patrolled Area Land Size: Less Than 1/4 Acre Terms: Cash; Conventional Title: Title Ins - Buyer
Listing Office: Water Vista Realty, Inc.
Last Updated: April - 08 - 2026
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.

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