127 & 121 Monroe Drive #1-3, Plantation Key, FL 33070
Local realty services provided by:CENTURY 21 Circle
Listed by: peter schwarz-top producer, ewa schwarz
Office: lokation real estate - pompano beach
MLS#:620278
Source:FL_FKBOR
Price summary
- Price:$2,899,000
- Price per sq. ft.:$1,203.4
About this home
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 the Village of Islamorada, it is rare to find side-by-side multifamily parcels in such a convenient, desirable Upper Keys neighborhood.
127 Monroe Drive is a concrete triplex of roughly 2,400 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 comfortable outdoor living areas. Units 1 and 3 were renovated with fresh finishes and updated interiors that attract solid tenants and keep maintenance in check. In 2025, the dock electric was upgraded with a dedicated meter for the dock power, one on each property.
Next door, 121 Monroe Drive is an additional multifamily parcel of about 7,500 sq ft, now vacant and ready for your next phase of development. Consider adding more units, a pool, covered parking with storage, or enhanced 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 already completed 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....
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Home facts
- Year built:1972
- Subdivision & Development:Vacation Village - AMD (89.0)
- Listing ID #:620278
- Added:91 day(s) ago
- Updated:September 14, 2026 at 03:17 PM
Rooms and interior
- Bedrooms:4
- Total bathrooms:4
- Living area:2,409 sq. ft.
Heating and cooling
- Cooling:Ductless
- Heating:Ductless
Structure and exterior
- Year built:1972
- Building area:2,409 sq. ft.
- Lot area:0.34 Acres
- Exterior Features:Chickee Hut
Finances and disclosures
- Price:$2,899,000
- Price per sq. ft.:$1,203.4
- Tax amount:$21,307
Features and amenities
- Amenities:Drapes Included
Parking
- Parking description:Guest, Off Street, Open
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