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Ryan Steets

ryan@steetsrealty.com +1(561) 568-7545

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127 & 121 Monroe DR #13 Islamorada, FL 33070

2,409 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,409 sqft

Subdivision Vacation Village-Amd (89)

MLS Listing ID A12061389

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

Interior

Heating Heat Strip, Separate Meters

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

Flooring Laminate, Tile

Exterior

Utilities Available Cable Available

Waterfront Description Canal Front,No Fixed Bridges,Ocean Access

Roof Type Concrete

Building

Lot Description 1/4 to 1/2 Acre Lot

Story 2

Sewer Public Sewer

New Construction No

Schools

Elementary Schools Plantation Key

Middle Schools Plantation Key

High Schools Coral Shores

Others

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

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

Listed by Ewa Schwarz LoKation

NEARBY SCHOOLS & PROPERTIES

Ryan Steets

Agent License ID: SL3463758

+1(561) 568-7545

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Ryan Steets

127 & 121 Monroe DR #13 Islamorada, FL 33070

Key Details

Location

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOLS & PROPERTIES

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127 & 121 Monroe DR #13

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