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

Marathon
Local realty services provided by:CENTURY 21 Circle
500 22nd St Ocean #1-4,Marathon, FL 33050
$1,175,000
  • 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:$1,175,000
  • Price per sq. ft.:$422.66

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 usage--an 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...

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Home facts

  • Year built:1973
  • Subdivision & Development:R & R Subdivision (48.5)
  • Listing ID #:618043
  • Added:291 day(s) ago
  • Updated:October 28, 2026 at 03:34 PM

Rooms and interior

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

Heating and cooling

  • Cooling:Ceiling Fans(s), Central Air

Structure and exterior

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

Finances and disclosures

  • Price:$1,175,000
  • Price per sq. ft.:$422.66
  • Tax amount:$7,699

Parking

  • Parking description:Off Street, Open

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