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58234 Overseas Highway

Marathon, FL 33050
  • $1,800,000
  • STATUS: Active
  • ON SITE: 34 Days
  • MLS #: 609161
$1,800,000
  • 7
    BEDS
  • 0.18
    ACRES
  • 6
    BATHS
  • 1
    1/2 BATHS
  • 2,190
    SQFT
  • $822
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1975
County:

School Ratings & Info

Description

Very unique property in the old Keys Style. 5 Building Rights on this 18,000 sq ft Oceanfront parcel on Grassy Key, with Bay Bottom and a boat ramp (shared with adjoining parcel) City of Marathon has approved a Letter of Determination for five (5) building rights (TBR's) upon the property, however Letter is currently in review period by Florida Department of Commerce (Formerly DEO) with an appeal date of 4/25/24. Property currently contains a Triplex with a 2/2 apt and two 1 bed/1 bath apts; a small studio with 1 bath, and a mobile home with 2 beds/1.5 baths. Triplex was inspected and found to be unsafe structure. It CAN NOT be occupied. Seller has been advised he could possibly repair the building within the guidelines of the City's Substantial Improvement ordinance but Buyer needs to verify this. Should a Buyer decide to demolish the triplex density requirements would limit the number of units that could be rebuilt. Current zoning and density should allow for two units to be built on the property. A buyer might choose to demolish the triplex and leave mobile home and studio unit in place...and keep the remaining three (3) TBRs.

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The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Florida Keys MLS, Inc. Real estate listings held by brokerage firms other than Keys Island Group | COMPASS are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.
www.sellingislandlife.com/homes/148504475
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58234 Overseas Highway Marathon, FL 33050

  • Price: $1,800,000
  • Status: Active
  • On Site: 34 Days
  • MLS #: 609161
7
Beds
6
Baths
1
½ Baths
0.18
Acres
2,190
SQFT
$822
$/SQFT
1975
Built
Neighborhood:
Crains Sub (58.0)
County:
Monroe
Area:
19 - Crawl Key & Grassy Key
Property Description
Very unique property in the old Keys Style. 5 Building Rights on this 18,000 sq ft Oceanfront parcel on Grassy Key, with Bay Bottom and a boat ramp (shared with adjoining parcel) City of Marathon has approved a Letter of Determination for five (5) building rights (TBR's) upon the property, however Letter is currently in review period by Florida Department of Commerce (Formerly DEO) with an appeal date of 4/25/24. Property currently contains a Triplex with a 2/2 apt and two 1 bed/1 bath apts; a small studio with 1 bath, and a mobile home with 2 beds/1.5 baths. Triplex was inspected and found to be unsafe structure. It CAN NOT be occupied. Seller has been advised he could possibly repair the building within the guidelines of the City's Substantial Improvement ordinance but Buyer needs to verify this. Should a Buyer decide to demolish the triplex density requirements would limit the number of units that could be rebuilt. Current zoning and density should allow for two units to be built on the property. A buyer might choose to demolish the triplex and leave mobile home and studio unit in place...and keep the remaining three (3) TBRs.
Exterior Features

Above Flood Unknown Building Style Single Wide Construction CBSManufactured Dockage None Land Size 1/4 - 1/2 Acre Pool YN No Side Ocean Stories 2 Stories Style Multi-Units Vehicle Storage Off Street Parking Waterfront OceanfrontOpen Water Waterfront YN Yes Waterview Ocean ViewOpen Water View

Interior Features

Appliances Other Buyer to Verify Cooling Heating Wall/Window Unit(s)

Property Features

Assoc Fee 0.00 Assoc Hoa YN No Assoc Right Of Refusal No City MARATHON Control Depth 1 Deed Restrictions Unknown Fee Includes None Flood Zone VEAEAEVE Listing Board Marathon/Lower Keys Mile Marker 58.00 Min Rental Days 7.00 Pets Pets Allowed Public Sewer Hookup Yes Rentals Allowed With Restrictions Species List No Sq Ft Source Property Data Card Tax Exemptions Homestead Tax Year 2023 Taxes 12299.03 Terms CashConventional Utilities Elect Separate MeterMunicipal SewerFKAA Zoning RM - Residential Medium

Listing courtesy of Joshua Mothner of Coldwell Banker Schmitt Real Estate Co.: (305) 743-5181.


The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Florida Keys MLS, Inc. Real estate listings held by brokerage firms other than Keys Island Group | COMPASS are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.
 
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Keys Island Group | COMPASS
Key West FL, 33040