$786,000
SOLD AUG 25, 2025

1530 Ocean Bay Dr Unit 509 Key Largo, FL 33037

2 Beds
2 Baths
1,188 Sq Ft
$1,350/mo HOA Fee

Recently Sold

$662 Per Sq Ft

7% Below List Price

95 Days on Market

Highlights

  • Ocean Front
  • Boat Ramp
  • Sandy Beach
  • Coral Shores High School Rated A
  • Beach
  • 1-minute walk to Schwingggg

About This Home

As of August 2025

Top-Floor Oceanfront Condo | STR Rentals Approved | Income-ProducingInvestor alert! This stunning top-floor 2BD/2BA condo in Kawama Tower offers breathtaking panoramic ocean views and is fully approved for short-term rentals--making it a rare and highly desirable income-producing property in Key Largo.Turn-key and rental-ready, the unit features impact windows and doors, an updated kitchen, new flooring, stylish bathrooms, and a spacious split-bedroom layout ideal for hosting guests. Balcony overlooking the ocean view. Maximize returns with high nightly rental rates, year-round demand, and a proven STR market in this sought-after location.Set in a gated, resort-style community with a private beach, deep-water marina to rent a slip, boat ramp, pool, tennis pickle ball courts, and 24/7 security, this property offers strong appreciation potential and immediate cash flow.Whether you're looking to expand your portfolio, complete a 1031 exchange, or own a piece of paradise--this property ticks all the boxes.It offers an excellent balance of lifestyle, convenience, and income potential. Unit 509 is a premium pick in Kawama Tower - Act now to secure your own slice of Key Largo paradise! Exceptional location, stunning views, and impressive amenities and rental income --your dream Island and oceanfront lifestyle awaits!

Last Agent to Sell the Property

Terry Canto

American Caribbean Real Estate, Christie's International Real Estate License #626852 Listed on: 04/23/2025

Last Buyer's Agent

Terry Canto

American Caribbean Real Estate, Christie's International Real Estate License #626852 Listed on: 04/23/2025

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $6,291

Year Built

  • Built in 1993 | Remodeled

Lot Details

  • Ocean Front
  • Sandy Beach

HOA Fees

  • $1,350 Monthly HOA Fees

Home Design

  • Concrete Roof
  • Pre-Cast Concrete Construction

Interior Spaces

  • 1,188 Sq Ft Home
  • 5-Story Property
  • Furnished
  • Storage
  • Tile Flooring
  • Ocean Views

Kitchen

  • Oven
  • Range
  • Microwave
  • Dishwasher
  • Stainless Steel Appliances
  • Granite Countertops
  • Quartz Countertops

Bedrooms and Bathrooms

  • 2 Bedrooms
  • Split Bedroom Floorplan
  • 2 Full Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Home Security

Parking

  • Guest Parking
  • Assigned Parking

Pool

  • Concrete Pool
  • Heated In Ground Pool

Outdoor Features

  • Boat Ramp
  • Balcony

Utilities

  • Central Air
  • Public Hookup Available For Sewer

Listing and Financial Details

  • Minimum Rental Period: 1
  • Assessor Parcel Number 00090495-000509

Community Details

Overview

  • Association fees include bldg exterior mnt, security, common area mnt, building insurance
  • Kawama Tower Subdivision

Recreation

  • Boat Ramp
  • Beach
  • Tennis Courts
  • Community Pool
  • Bike Trail

Pet Policy

  • Pets Allowed

Security

  • Gated with Attendant
  • Impact Glass

Property Details

Home Type

Condominium

Est. Annual Taxes

$6,291

Year Built

Built in 1993 | Remodeled

Lot Details

0

HOA Fees

$1,350 per month

Listing Details

  • Property Type: Residential
  • Style: Condo
  • As Is Right To Inspect: Yes
  • First Right of Refusal: No
  • Association Fee: 1350.00
  • Mandatory HOA: Yes
  • Control Depth: 6
  • Document Count: 1
  • Fee Includes: Bldg Exterior Mnt, Security, Common Area Mnt, Building Insurance
  • Key Island: Key Largo
  • Limited Representation: No
  • Marathon Neighborhood: N/A
  • Mile Marker: 99.50
  • Min Rental Days: 1.00
  • M L S Identifier: 20060123165453488875000000
  • Neighborhood Feature: Community Pool, Bike Paths, Beach, Tennis Courts, Community Boat Ramp
  • Off Shore Island: No
  • Pets: Pets Allowed
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Cash
  • Side: Ocean
  • State Province: FL
  • Taxes: 6290.71
  • Title: Title Ins - Buyer
  • Vehicle Storage: Assigned Parking, Trailer Storage, Guest Parking
  • Year Built: 1993
  • Alternate Key Number: 8843755
  • Cooling Heating: Central Air
  • Pool Info: In Ground, Concrete
  • Pool Info Heated: Yes
  • Porch Balcony: Open Porch/Balcony
  • Association Maintenance Fee Per: Monthly
  • Tax Exemptions: None
  • Building Style Above Flood: Yes
  • Building Style Stories: 5 Stories
  • Estimated Living Sq Ft: 1188.00
  • Property Condition: Updated/Remodeled
  • Sewer Hook Up: Yes
  • Unit Complex: Unit
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 5

Interior Features

  • Interior Amenities: Split Bedroom, Quartz Countertops, Storage, Granite Counter Top
  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Appliances: Washer, Stainless Steel Appliance(s), Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
  • Floor: Tile
  • Specialty Rooms: Laundry Room
  • Windows/Doors: Impact Rstnce Window, Impact Rstnce Doors
  • Total Bedrooms: 2

Exterior Features

  • Dockage: Boat Ramp
  • Waterfront: Oceanfront, Open Water
  • Waterfront: Yes
  • Construction: CBS, Concrete
  • Exterior Features: Sandy Beach, Tennis Court(s)
  • Roof: Concrete Roof
  • Waterview: Ocean View, Open Water View
  • Pool: Yes

Utilities

  • Security: Manned Gate
  • Utilities: FKAA, Municipal Sewer

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: AE,AE
  • Parcel Number: 00090495-000509
  • Land Size: 10 or more Acres

Rental Info

  • Rentals Allowed: Yes
  • Furnished: Furnished

Tax Info

  • Tax Year: 2024

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 23, 2025
Closed on
Aug 25, 2025
Sold by
Laue Hans and Laue Laura B
Bought by
Kawama 509 Llc
Seller's Agent
Terry Canto
American Caribbean Real Estate, Christie's International Real Estate
Buyer's Agent
Terry Canto
American Caribbean Real Estate, Christie's International Real Estate
List Price
$845,000
Sold Price
$786,000
Premium/Discount to List
-$59,000
-6.98%
Views
130

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
216.79%

Purchase Details

Closed on
Sep 23, 2024
Sold by
Laue Hans and Laue Laura B
Bought by
Laue Family Trust and Laue

Purchase Details

Listed on
Apr 10, 2015
Closed on
May 1, 2015
Sold by
Graf David R and Graf Erin J
Bought by
Laue Hans and Laue Laura B
Seller's Agent
Karol Marsden
Berkshire Hathaway HomeServices Keys Real Estate - Islamorada
Buyer's Agent
Terry Canto,Top Producer
American Caribbean Real Estate, Christie's International Real Estate
List Price
$495,000
Sold Price
$465,000
Premium/Discount to List
-$30,000
-6.06%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.16%
Original Mortgage
$275,000
Interest Rate
3.77%
Mortgage Type
New Conventional

Purchase Details

Listed on
May 4, 2012
Closed on
May 18, 2012
Sold by
Bankunited Na
Bought by
Graf David R and Graf Erin J
Seller's Agent
Debrah Bennett
Default Realty Services, Inc.
Buyer's Agent
Karol Marsden
Freewheeler Realty, Inc.
List Price
$275,000
Sold Price
$275,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
19.07%

Purchase Details

Listed on
May 4, 2012
Closed on
Apr 12, 2012
Sold by
Conrad Charles Parker and Conrad Charles
Bought by
Bankunited
Seller's Agent
Debrah Bennett
Default Realty Services, Inc.
Buyer's Agent
Karol Marsden
Freewheeler Realty, Inc.
List Price
$275,000
Sold Price
$275,000

Purchase Details

Listed on
May 4, 2012
Closed on
Apr 11, 2012
Sold by
Conrad Lori
Bought by
Bankunited
Seller's Agent
Debrah Bennett
Default Realty Services, Inc.
Buyer's Agent
Karol Marsden
Freewheeler Realty, Inc.
List Price
$275,000
Sold Price
$275,000

Purchase Details

Closed on
Sep 19, 2008
Sold by
Conrad Lori D
Bought by
Conrad Charles Parker

Purchase Details

Closed on
Jan 6, 2006
Sold by
Martinez Jorge L
Bought by
Conrad Charles and Conrad Lori

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$486,000
Interest Rate
0.95%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Nov 26, 2003
Sold by
Martinez Elvira
Bought by
Martinez Jorge L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
5.98%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 2, 2001
Sold by
Martinez Jorge L and Martinez Maria
Bought by
Martinez Jorge L

Purchase Details

Closed on
Oct 1, 1995
Bought by
Laue Hans and Laue Laura B
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Deed $786,000 Temple Title Llc
Quit Claim Deed -- None Listed On Document
Warranty Deed $465,000 Coral Reef Title Company
Special Warranty Deed $275,000 Attorney
Deed In Lieu Of Foreclosure $531,400 Attorney
Quit Claim Deed -- Attorney
Special Warranty Deed -- None Available
Warranty Deed $607,500 Turnkey Title Corporation
Interfamily Deed Transfer -- Titles Unlimited Inc
Quit Claim Deed $35,000 --
Warranty Deed $106,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $275,000 New Conventional
Previous Owner $486,000 Fannie Mae Freddie Mac
Previous Owner $100,000 New Conventional
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/25/2025 08/25/25 Sold $786,000 -4.7% $662 / Sq Ft
07/27/2025 07/27/25 Pending -- -- --
07/04/2025 07/04/25 Price Changed $825,000 -2.4% $694 / Sq Ft
04/23/2025 04/23/25 For Sale $845,000 +81.7% $711 / Sq Ft
06/01/2015 06/01/15 Sold $465,000 -6.1% $352 / Sq Ft
04/16/2015 04/16/15 Pending -- -- --
04/10/2015 04/10/15 For Sale $495,000 +80.0% $374 / Sq Ft
05/29/2012 05/29/12 Sold $275,000 0.0% $206 / Sq Ft
05/17/2012 05/17/12 Pending -- -- --
05/04/2012 05/04/12 For Sale $275,000 -- $206 / Sq Ft
Source: Florida Keys Board of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $5,876 $854,771 -- $854,771
2023 $5,876 $832,637 $0 $832,637
2022 $4,735 $589,164 $0 $589,164
2021 $4,414 $493,064 $0 $493,064
2020 $4,338 $481,246 $0 $481,246
2019 $4,136 $456,360 $0 $456,360
2018 $4,206 $456,360 $0 $0
2017 $3,884 $419,342 $0 $0
2016 $3,806 $395,185 $0 $0
2015 $2,394 $227,384 $0 $0
2014 -- $227,384 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Terry Canto

    Seller's Agent in 2025

    Terry Canto

    American Caribbean Real Estate, Christie's International Real Estate

    (305) 394-3037

    184 in this area

    240 Total Sales

    Terry Canto
    Section Image
  • Karol Marsden

    Seller's Agent in 2015

    Karol Marsden

    Berkshire Hathaway HomeServices Keys Real Estate - Islamorada

    (305) 395-1975

    6 in this area

    25 Total Sales

    Karol Marsden
    Section Image

  • T

    Buyer's Agent in 2015

    Terry Canto,Top Producer

    American Caribbean Real Estate, Christie's International Real Estate

  • D

    Seller's Agent in 2012

    Debrah Bennett

    Default Realty Services, Inc.

See All Agents

Map

Source: Florida Keys Board of REALTORS®

MLS Number: 614754

Florida Keys Board of REALTORS®

APN: 00090495-000509

Florida Monroe County Key Largo 33037

1530 Ocean Bay Dr Unit 509, Key Largo, FL

This home is located at 1530 Ocean Bay Dr Unit 509, Key Largo, FL 33037 and is currently priced at $786,000, approximately $661 per square foot. This property was built in 1993. 1530 Ocean Bay Dr Unit 509 is a home located in Monroe County with nearby schools including Key Largo School, Coral Shores High School, and Dolphin Montessori Children's House.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Florida Keys Board of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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