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500 22nd St Ocean #1-4, Marathon, FL 33050

Local realty services provided by:CENTURY 21 Circle
500 22nd St Ocean #1-4,Marathon, FL 33050
$1,249,000
  • 8 Beds
  • 4 Baths
  • 2,780 sq. ft.
  • Multi-family
  • Active
Listed by: samuel davis williams
Office: coldwell banker schmitt real estate co.
MLS#:618043
Source:FL_FKBOR

Price summary

  • Price:$1,249,000
  • Price per sq. ft.:$449.28

About this home

Attention investors and business owners: This four-unit apartment building presents a compelling opportunity in the heart of the Florida Keys, offering immediate income with long-term strategic value. Each of the four units features a comfortable two-bedroom, one-bath layout, with long-term tenants currently in place, providing stable cash flow from day one. Each apartment is separately metered for electricity, allowing tenants to manage their own usagean added benefit for ownership efficiency. The property also offers ample on-site parking, a valuable amenity in the Keys, along with a shared laundry facility located at the rear of the property, enhancing convenience for residents. The property is currently operating at an approximate 5.87% cap rate, with clear room for growth. Rents are presently below market, creating a realistic path for increased returns, with projections indicating the potential to achieve a 7.4%+ cap rate over time as adjustments are made in accordance with

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Home facts

  • Year built:1973
  • Listing ID #:618043
  • Added:1 day(s) ago
  • Updated:January 11, 2026 at 03:37 PM

Rooms and interior

  • Bedrooms:8
  • Total bathrooms:4
  • Full bathrooms:4
  • Living area:2,780 sq. ft.

Structure and exterior

  • Roof:Combo Roof
  • Year built:1973
  • Building area:2,780 sq. ft.
  • Lot area:0.14 Acres

Utilities

  • Water:Water Separate Meter

Finances and disclosures

  • Price:$1,249,000
  • Price per sq. ft.:$449.28
  • Tax amount:$7,700 (2025)

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