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Monica Cataluña, CCIM, ALC

monica@koresrealty.com +1(954) 812-1831

$2,899,000

Est. payment - /mo

2,409 SqFt

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Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,409 sqft

Price per Sqft $1,203

Subdivision Vacation Village-Amd (89)

MLS Listing ID A12061389

HOA Y/N No

Year Built 1972

Annual Tax Amount $21,308

Tax Year 2025

Property Sub-Type Triplex

Property Description

Exceptional investment and lifestyle opportunity in the heart of Plantation Key. This offering includes a triplex income property together with the adjacent multifamily lot, giving you both immediate rental income and room to grow. In Islamorada, it's rare to find side-by-side multifamily parcels in such a convenient, desirable neighborhood. This CBS triplex is 2,409 sq ft on a 7,500 sq ft lot, with 3 rental units (1/1, 1/1, 2/2), full kitchens and baths, abundant on-site parking, and great outdoor living areas. Units 1 and 3 were renovated with updated interiors that attract solid tenants. In 2025, the dock electric was upgraded with a dedicated meter for dock power, one on each property. Next door, 121 Monroe Drive is an additional multifamily parcel of about 7,500 sq ft, ready for development. Add more units, a pool, covered parking with storage, or enhance outdoor spaces to create a cohesive compound and boost rental revenue. Multifamily waterfront land in Islamorada is limited, and demand for quality rentals remains strong. With recent upgrades and easy access to the mainland, this combined offering is a great opportunity for investors, 1031 buyers, or owner-operators who want a flexible Keys property with income today and room for future build-out and long-term appreciation. Free access to Founders Park, with sandy beach, swimming pool, boat ramp, playground, tennis, pickleball, walking paths, sports fields, dog park and daily fun activities and regular events.

Location

State FL

County Monroe

Community Vacation Village-Amd (89)

Area 98 Florida Keys

Zoning MF - Multi-Family At

Interior

Heating Heat Strip

Cooling Ceiling Fan(s), Wall/Window Unit(s)

Flooring Laminate, Tile

Exterior

Pool None

Utilities Available Cable Available

Waterfront Description Canal Access,Canal Front,Ocean Access

Roof Type Concrete

Total Parking Spaces 10

Private Pool No

Building

Lot Description 1/4 to 1/2 Acre Lot

Story 2

Sewer Public Sewer

Level or Stories Two

Structure Type Block

Others

Tax ID 00417500000100

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

Virtual Tour https://www.propertypanorama.com/instaview/mia/A12061389

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Miami Association of Realtors (SEFMIAMI MLS)

Listed by LoKation

"We recognize that real estate ventures involve more than just transactions; they’re intricate puzzles that demand strategic thinking and a keen understanding of the numbers. With years of experience in the industry, we bring a wealth of knowledge and expertise to the table, ensuring that every client receives tailored solutions to meet their unique needs."

+1(954) 812-1831

monica@koresrealty.com

2665 Executive Park Drive, Suite 1 Weston, FL 33331

127 & 121 Monroe Dr. 1-3 Islamorada, FL 33070

Monica Cataluña, CCIM, ALC

Key Details

Location

Interior

Exterior

Building

Others

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127 & 121 Monroe Dr. 1-3