NOT LISTED FOR SALE

500 22nd St Marathon, FL 33050

Estimated Value: $1,264,000 - $1,466,000

8 Beds
4 Baths
2,780 Sq Ft
$488/Sq Ft Est. Value

Last Sold May 17, 2022

Last sale price $1,250,000 $450 Per Sq Ft

Est. 9% increase in value since last sale

Current estimated payment $7,736/month

16 Days on Market

Highlights

  • No HOA
  • Tile Flooring
  • Utility Room
  • Coral Shores High School Rated A
  • Ceiling Fan

About This Home

As of May 2022

Fantastic opportunity for an investor or local business for employee housing! This two story, four unit apartment building is a rarity in Marathon. Offering apartments that are all two bedroom, one bathroom units. They are all currently rented with long-term tenants in place; current rents range from $1,715 - $2,000 per unit. The current market rate rent on these units should be $2,400 + monthly. Separately metered electric for each unit, which tenants pay. There is plenty of parking on-site and a laundry room out back (owner pays utilities for laundry room). If you own a local business and worry about employee retention due to housing, this may be the investment you need to make to secure your longevity.

Last Agent to Sell the Property

Mallory Pinto

Keys Ocean Realty Inc. License #BK3373799 Listed on: 01/12/2022

Keys Ocean Realty Inc.

Last Buyer's Agent

David Grego

Island Breeze Realty, LLC License #3107004

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,040

Year Built

  • Built in 1973

Lot Details

  • 6,002 Sq Ft Lot

Parking

  • Off-Street Parking

Home Design

  • Pre-Cast Concrete Construction

Interior Spaces

  • 2,780 Sq Ft Home
  • Ceiling Fan
  • Utility Room
  • Tile Flooring
  • Monitored

Kitchen

  • Oven
  • Range

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Full Bathrooms

Laundry

  • Dryer
  • Washer

Utilities

  • Cooling System Mounted To A Wall/Window
  • Separate Meters
  • Public Hookup Available For Sewer
  • Cable TV Available

Listing and Financial Details

  • Minimum Rental Period: 7
  • Assessor Parcel Number 00102830-000100

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • R & R Subdivision

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,040

Year Built

Built in 1973

Lot Details

6,002 Sq Ft Lot

Listing Details

  • Property Type: Residential
  • Style: Multi-Units
  • As Is Right To Inspect: Yes
  • First Right of Refusal: No
  • Mandatory HOA: No
  • Fee Includes: None
  • Key Island: Marathon
  • Limited Representation: No
  • Marathon Neighborhood: Old Town East (25th to Sombrero)
  • Mile Marker: 48.50
  • Min Rental Days: 7.00
  • M L S Identifier: 20060123165453488875000000
  • Off Shore Island: No
  • Pets: Pets Allowed
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Cash
  • Side: Ocean
  • State Province: FL
  • Taxes: 6039.60
  • Title: Negotiable
  • Vehicle Storage: Off Street Parking
  • Year Built: 1973
  • Alternate Key Number: 1120014
  • Cooling Heating: Wall/Window Unit(s), Ceiling Fans(s)
  • Lot Sq Ft: 6002.00
  • Species List: No
  • Tax Exemptions: None
  • Building Style Above Flood: Unknown
  • Building Style Stories: 2 Stories
  • Estimated Living Sq Ft: 2780.00
  • Pre Wired: Cable
  • Financial Status Standard Sale: Yes
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Total Bathrooms: 4.00
  • Full Bathrooms: 4
  • Appliances: Washer, Oven, Range, Dryer
  • Floor: Tile
  • Specialty Rooms: Utility Room
  • Total Bedrooms: 8
  • Accessibility Features: None

Exterior Features

  • Dockage: None
  • Waterfront: None
  • Waterfront: No
  • Construction: Concrete
  • Waterview: No Waterview
  • Pool: No

Utilities

  • Security: Patrolled Area
  • Utilities: FKAA, Elect Separate Meter

Lot Info

  • Deed Restrictions: No
  • Flood Zone: AE
  • Parcel Number: 00102830-000100
  • Land Size: Less Than 1/4 Acre
  • Acres: 0.14

Rental Info

  • Rentals Allowed: Yes
  • Furnished: Unfurnished

Tax Info

  • Tax Year: 2021

Multi Family

  • Total Units: 4.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 4, 2025
Sold by
Republic Fourplex Llc
Bought by
Marathon Tru Holdings Llc
Current Estimated Value
$1,357,036

Purchase Details

Closed on
Jun 3, 2025
Sold by
Republic Fourplex Llc
Bought by
Marathon Tru Holdings Llc

Purchase Details

Listed on
Jan 12, 2022
Closed on
May 17, 2022
Sold by
Coldiron Michelle A
Bought by
Republic Fourplex Llc
Seller's Agent
Mallory Pinto
Keys Ocean Realty Inc.
Buyer's Agent
David Grego
Island Breeze Realty, LLC
List Price
$1,295,000
Sold Price
$1,250,000
Premium/Discount to List
-$45,000
-3.47%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.17%

Purchase Details

Closed on
Oct 14, 2011
Sold by
Woolard Cassie O
Bought by
Coldrion Gregory A

Purchase Details

Closed on
Oct 9, 2003
Sold by
Young Dean M
Bought by
Woolard T Wayne and Woolard Cassie O

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$400,000
Interest Rate
5.75%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 16, 2000
Sold by
Fujimo Inc
Bought by
Young Dean M and White Martha J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$190,000
Interest Rate
8.63%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Jul 6, 2000
Sold by
Ethridge W D
Bought by
Sombrero Reef Properties Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$190,000
Interest Rate
8.63%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Jan 1, 1990
Bought by
Coldiron Gregory A

Purchase Details

Closed on
Apr 1, 1988
Bought by
Coldiron Gregory A

Purchase Details

Closed on
Oct 1, 1983
Bought by
Coldiron Gregory A

Purchase Details

Closed on
Feb 1, 1975
Bought by
Coldiron Gregory A
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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 Buyer Sale Price Title Company
Marathon Tru Holdings Llc -- None Listed On Document
Marathon Tru Holdings Llc -- None Listed On Document
Republic Fourplex Llc $1,250,000 Cunningham Miller Rhyne Pa
Coldrion Gregory A $289,000 Attorney
Woolard T Wayne $500,000 --
Young Dean M $175,000 --
Sombrero Reef Properties Inc $235,000 --
Coldiron Gregory A $173,000 --
Coldiron Gregory A $135,000 --
Coldiron Gregory A $108,000 --
Coldiron Gregory A $67,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Woolard T Wayne $400,000
Previous Owner Sombrero Reef Properties Inc $350,000
Previous Owner Sombrero Reef Properties Inc $190,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/17/2022 05/17/22 Sold $1,250,000 -3.5% $450 / Sq Ft
01/12/2022 01/12/22 For Sale $1,295,000 -- $466 / Sq Ft
Source: Marathon and Lower Keys Association of REALTORS®

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
2025 $8,105 $581,523 $181,485 $400,038
2024 $8,429 $607,128 $206,692 $400,436
2023 $8,429 $663,346 $252,063 $411,283
2022 $6,698 $576,891 $160,060 $416,831
2021 $6,040 $419,334 $108,387 $310,947
2020 $5,744 $397,989 $86,962 $311,027
2019 $5,745 $399,613 $79,970 $319,643
2018 $5,630 $406,082 $79,970 $326,112
2017 $5,488 $403,224 $0 $0
2016 $5,240 $360,237 $0 $0
2015 $4,959 $320,522 $0 $0
2014 $4,986 $323,328 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Mallory Pinto

    Seller's Agent in 2022

    Mallory Pinto

    Keys Ocean Realty Inc.

    (305) 735-4095

    20 in this area

    25 Total Sales

    Mallory Pinto
    Section Image
  • David Grego

    Buyer's Agent in 2022

    David Grego

    Island Breeze Realty, LLC

    (305) 481-1296

    124 in this area

    185 Total Sales

    David Grego
    Section Image
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Map

Source: Marathon and Lower Keys Association of REALTORS®

MLS Number: 599200

APN: 00102830-000100

Florida Monroe County Marathon 33050

500 22nd St, Marathon, FL

Not Listed for Sale

MultiFamily

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