NOT LISTED FOR SALE

501 E Ocean Dr Unit 22 Key Colony Beach, FL 33051

Estimated Value: $554,000 - $807,000

2 Beds
2 Baths
1,001 Sq Ft
$1,333/mo HOA Fee

Last Sold January 26, 2024

Last sale price $800,000 $799 Per Sq Ft

Est. 11% decrease in value since last sale

Current estimated payment $5,175/month

194 Days on Market

Highlights

  • Airstrip
  • Ocean Front
  • New Construction
  • Coral Shores High School Rated A
  • Beach
  • Concrete Pool

About This Home

As of January 2024

SELLER FINANCING now offered on your dream coastal retreat, #22 Key Colony Bch Club! Nestled in picturesque Key Colony Beach, this spacious and airy 2 Bedroom/2 Bath is ready to offer you an unparalleled waterfront living experience. Be the first to call this stunning top floor residence home and embrace a lifestyle of luxury, relaxation and breathtaking ocean views. Open concept living, abundant natural light and expansive private balcony overlooking the Atlantic Ocean, landscaped courtyard and sparkling pool. Brand new construction, never lived in; built to meet all of today's building codes, including the ability to withstand a Cat 5+ hurricane. Low HOA fees of only $1,000 month includes building insurance! Weekly vacation rentals permitted. Elevator building, two dedicated/covered parking spaces and private storage. Don't miss out on this incredible opportunity to own a brand new, never been lived in, oceanfront condo in Key Colony Beach.

Last Agent to Sell the Property

Karen Raspe, PA

Ocean Sotheby's International License #3226605 Listed on: 07/05/2023

Ocean Sotheby's International

Co-Listed By

Tracy Chacksfield

Berkshire Hathaway HomeServices Keys Real Estate License #SL3510758

Last Buyer's Agent

Melanie Horowitz

Better Homes and Gardens Real Estate Destinations License #3131414

Better Homes and Gardens Real Estate Destinations

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $892

Year Built

  • Built in 2023 | New Construction

Lot Details

  • Ocean Front

HOA Fees

  • $1,333 Monthly HOA Fees

Home Design

  • Pre-Cast Concrete Construction

Interior Spaces

  • 1,001 Sq Ft Home
  • Ceiling Fan
  • Laminate Flooring
  • Ocean Views

Kitchen

  • Range
  • Microwave
  • Dishwasher
  • Quartz Countertops
  • Disposal

Bedrooms and Bathrooms

  • 2 Bedrooms
  • Walk-In Closet
  • 2 Full Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Home Security

Parking

  • 2 Parking Spaces
  • Covered Parking
  • Off-Street Parking
  • Assigned Parking

Pool

  • Concrete Pool
  • In Ground Pool

Outdoor Features

  • Airstrip
  • Balcony
  • Shed

Utilities

  • Central Air
  • Separate Meters
  • Public Hookup Available For Sewer
  • Cable TV Available

Listing and Financial Details

  • Minimum Rental Period: 7
  • Assessor Parcel Number 00073990-002200

Community Details

Overview

  • Association fees include cable, common area mnt, building insurance, bldg exterior mnt, water, sewer
  • 32 Units
  • Key Colony Bch Club Subdivision

Recreation

  • Beach
  • Bike Trail

Pet Policy

  • Pet Restriction: Owners Only

Security

  • Resident Manager or Management On Site
  • Impact Glass
  • Fire and Smoke Detector
  • Fire Sprinkler System

Property Details

Home Type

Condominium

Est. Annual Taxes

$892

Year Built

Built in 2023 | New Construction

Lot Details

0

HOA Fees

$1,333 per month

Listing Details

  • Property Type: Residential
  • Style: Condo
  • As Is Right To Inspect: Yes
  • First Right of Refusal: No
  • Association Fee: 4000.00
  • Mandatory HOA: Yes
  • Fee Includes: Cable, Common Area Mnt, Building Insurance, Bldg Exterior Mnt, Water, Sewer
  • Key Island: Key Colony
  • Limited Representation: No
  • Marathon Neighborhood: Marathon East - Gulf (Airport to Vaca)
  • Mile Marker: 53.50
  • Min Rental Days: 7.00
  • M L S Identifier: 20060123165453488875000000
  • Neighborhood Feature: Manager on Premises, Bike Paths, Airstrip, Beach, Fire Hydrant
  • Off Shore Island: No
  • Pets W Restrictions: Owners Only
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Seller Finance
  • Side: Ocean
  • State Province: FL
  • Taxes: 892.10
  • Vehicle Storage: Assigned Parking, Covered Parking, Off Street Parking
  • Vehicle Storage Cars: 2
  • Year Built: 2023
  • Alternate Key Number: 8555903
  • Building Style Stilt Column Height: Tall - 10Ft & Over
  • Cooling Heating: Central Air, Ceiling Fans(s)
  • Pool Info: In Ground, Concrete
  • Porch Balcony: Open Porch/Balcony
  • Association Maintenance Fee Per: Quarterly
  • Species List: No
  • Tax Exemptions: None
  • Building Style Above Flood: Yes
  • Estimated Living Sq Ft: 1001.00
  • Pre Wired: Cable
  • Property Condition: New Construction
  • Sewer Hook Up: Yes
  • Unit Complex: Complex
  • Statistical Purposes Only: No
  • Special Features: NewHome
  • Property Sub Type: Condos

Interior Features

  • Interior Amenities: Fire Sprinkler, Quartz Countertops, Walk-in Closet(s), Smoke Alarms
  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Appliances: Washer, Disposal, Microwave, Range, Refrigerator, Dishwasher, Dryer
  • Floor: Laminate
  • Specialty Rooms: Laundry Room
  • Windows/Doors: Impact Rstnce Window, Impact Rstnce Doors
  • Total Bedrooms: 2

Exterior Features

  • Dockage: None
  • Waterfront: Oceanfront
  • Waterfront: Yes
  • Construction: Concrete
  • Exterior Features: Shed
  • Waterview: Ocean View
  • Pool: Yes

Utilities

  • Security: No Security
  • Utilities: Buyer to Verify, Elect Separate Meter

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: AE,AE,VE,VE,AE
  • Parcel Number: 00073990-002200
  • Land Size: Less Than 1/4 Acre

Rental Info

  • Rentals Allowed: Yes
  • Furnished: Unfurnished

Tax Info

  • Tax Year: 2022

Multi Family

  • Total Units: 32.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 5, 2023
Closed on
Mar 12, 2024
Sold by
Cortes Celia
Bought by
Kcbc 22 Llc
Seller's Agent
Karen Raspe, PA
Ocean Sotheby's International
Buyer's Agent
Melanie Horowitz
Better Homes and Gardens Real Estate Destinations
List Price
$879,000
Sold Price
$800,000
Premium/Discount to List
-$79,000
-8.99%
Views
87
Current Estimated Value
$713,247

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$86,753
Avg. Annual Appreciation
-6.72%
Original Mortgage
$560,000
Interest Rate
6.61%
Mortgage Type
Seller Take Back

Purchase Details

Listed on
Jul 5, 2023
Closed on
Jan 29, 2024
Sold by
Carlson David A and Carlson Nancy E
Bought by
Cortes Celia
Seller's Agent
Karen Raspe, PA
Ocean Sotheby's International
Buyer's Agent
Melanie Horowitz
Better Homes and Gardens Real Estate Destinations
List Price
$879,000
Sold Price
$800,000
Premium/Discount to List
-$79,000
-8.99%
Views
87

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$560,000
Interest Rate
6.61%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Apr 10, 2015
Bought by
Carlson David A and Carlson Nancy E
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Kcbc 22 Llc -- Home Title
Kcbc 22 Llc -- Home Title
Cortes Celia $800,000 Home Title
Carlson David A $232,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Cortes Celia $560,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/26/2024 01/26/24 Sold $800,000 -5.8% $799 / Sq Ft
09/30/2023 09/30/23 Price Changed $849,000 -3.4% $848 / Sq Ft
07/05/2023 07/05/23 For Sale $879,000 -- $878 / Sq Ft
Source: Marathon and Lower Keys Association 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 $899 $611,706 -- $611,706
2023 $899 $86,670 $0 $86,670
2022 $892 $86,670 $0 $86,670
2021 $931 $86,670 $0 $86,670
2020 $901 $86,670 $0 $86,670
2019 $902 $86,670 $0 $86,670
2018 $2,301 $198,414 $0 $0
2017 $2,426 $218,037 $0 $0
2016 $2,513 $218,037 $0 $0
2015 $1,917 $157,081 $0 $0
2014 $1,959 $157,081 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Karen Raspe, PA

    Seller's Agent in 2024

    Karen Raspe, PA

    Ocean Sotheby's International

    (305) 393-9010

    151 in this area

    216 Total Sales

    Karen Raspe, PA
    Section Image

  • T

    Seller Co-Listing Agent in 2024

    Tracy Chacksfield

    Berkshire Hathaway HomeServices Keys Real Estate

    (312) 350-4601

    43 in this area

    71 Total Sales

    Tracy Chacksfield
    Section Image

  • M

    Buyer's Agent in 2024

    Melanie Horowitz

    Better Homes and Gardens Real Estate Destinations

    Section Image
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Map

Source: Marathon and Lower Keys Association of REALTORS®

MLS Number: 605910

APN: 00073990-002200

Florida Monroe County Key Colony Beach 33051

501 E Ocean Dr Unit 22, Key Colony Beach, FL

This home is located at 501 E Ocean Dr Unit 22, Key Colony Beach, FL 33051 since 05 July 2023 and is currently estimated at $713,247, approximately $712 per square foot. This property was built in 2023. 501 E Ocean Dr Unit 22 is a home located in Monroe County with nearby schools including Stanley Switlik Elementary School, Marathon Middle High School, and Coral Shores High School.

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