NOT LISTED FOR SALE

501 E Ocean Dr Unit 32 Key Colony Beach, FL 33051

Estimated Value: $569,000 - $824,940

2 Beds
2 Baths
1,001 Sq Ft
$1,000/mo HOA Fee

Last Sold September 18, 2023

Last sale price $890,000 $889 Per Sq Ft

Est. 16% decrease in value since last sale

Current estimated payment $5,274/month

25 Days on Market

Highlights

  • Airstrip
  • Ocean Front
  • Beach
  • Coral Shores High School Rated A
  • Boat Ramp
  • Sandy Beach

About This Home

As of September 2023

Dreams do come true and this is the unit you have been waiting for! You will fall in love... with the unobstructed OPEN WATER views and the sounds of the waves at this one-of-a-kind, 2 bed/2 bath, brand NEW OCEAN FRONT PENTHOUSE. The construction is nearing completion and is ready to call your new island retreat! You will notice ocean views from every angle & will truly appreciate the OPEN CONCEPT living, dining & kitchen complete with impact resistant windows & doors! An expansive direct ocean front balcony awaits you, with plenty of room for soaking in the sun & sea breezes along with 9 ft tall ceilings to allow for plenty of light to pour in. Notable features of this unit include; one of only two, ocean front penthouses at the complex, new modern kitchen with stainless steel appliances and quartz counter tops, new luxury vinyl plank flooring thought-out. 2 coastal modern ensuite tiled walk-in showers with vanities & mirrors. Washer & Dryer conveniently located in the guest suite and central Air with new ceiling fans. The unit is just steps to the white sandy beach ... & gorgeous blue water and close to the heart of Key Colony Beach. Weekly vacation rentals are allowed. Elevator located in the building. The unit comes with two assigned & covered parking spaces with a private owner's storage. Call us today, the location of this unit is highly sought after and will not last long! This is your opportunity to be the first to make this NEW Ocean Front Penthouse yours! *Pool and courtyard landscaping anticipated completion Sept 2023. Condo association will be finalized by end of August. Key Colony Beach Club is located in a very safe and family friendly neighborhood with plenty of outdoor activities and local restaurants to enjoy. Other notable feature include, Par 3 golf course, tennis courts, sunset park, bike & walking paths. Non member agents must call the listing agent for commission % prior to showing.

Last Agent to Sell the Property

Monica Barrett

Coldwell Banker Schmitt Real Estate Co. License #SL3345718 Listed on: 07/13/2023

Coldwell Banker Schmitt Real Estate Co.

Co-Listed By

Rick Servais

Coldwell Banker Schmitt Real Estate Co. License #3238499

Last Buyer's Agent

Lisa Ferringo

Coldwell Banker Schmitt Lower Keys (KW) License #605677

Coldwell Banker Schmitt Lower Keys (KW)

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $1,037

Year Built

  • Built in 2023 | New Construction

Lot Details

  • Ocean Front
  • Sandy Beach

HOA Fees

  • $1,000 Monthly HOA Fees

Home Design

  • Frame Construction

Interior Spaces

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

Kitchen

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

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Full Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Parking

  • 2 Parking Spaces
  • Carport
  • Guest Parking
  • Assigned Parking

Pool

  • Concrete Pool
  • In Ground Pool

Outdoor Features

  • Airstrip
  • Balcony
  • Deck
  • Outdoor Storage

Utilities

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

Listing and Financial Details

  • Minimum Rental Period: 7
  • Assessor Parcel Number 00073990-003200

Community Details

Overview

  • Association fees include cable, common area mnt, building insurance, bldg exterior mnt, water, sewer
  • 32 Units
  • Key Colony Bch Club Subdivision
  • The community has rules related to deed restrictions

Recreation

  • Boat Ramp
  • Beach
  • Community Pool
  • Bike Trail

Pet Policy

  • Pet Restriction: YES

Security

  • Resident Manager or Management On Site
  • Impact Glass

Property Details

Home Type

Condominium

Est. Annual Taxes

$1,037

Year Built

Built in 2023 | New Construction

Lot Details

0

HOA Fees

$1,000 per month

Listing Details

  • Property Type: Residential
  • Style: Condo
  • As Is Right To Inspect: Yes
  • First Right of Refusal: No
  • Association Fee: 3000.00
  • Mandatory HOA: Yes
  • Document Count: 3
  • 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: Community Pool, Bike Paths, Airstrip, Other Area Features, Beach, Manager on Premises, Community Boat Ramp
  • Off Shore Island: No
  • Pets W Restrictions: YES
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Cash
  • Side: Ocean
  • State Province: FL
  • Taxes: 1036.97
  • Title: Title Ins - Buyer
  • Vehicle Storage: Carport, Guest Parking, Assigned Parking
  • Vehicle Storage Cars: 2
  • Year Built: 2023
  • Alternate Key Number: 8556004
  • 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, Deck
  • Association Maintenance Fee Per: Quarterly
  • Species List: Yes
  • Tax Exemptions: None
  • Building Style Above Flood: Yes
  • Building Style Stories: 2 Stories
  • Estimated Living Sq Ft: 1001.00
  • Pre Wired: Cable
  • Property Condition: New Construction
  • Sewer Hook Up: Yes
  • Unit Complex: Unit
  • Statistical Purposes Only: No
  • Special Features: NewHome
  • Property Sub Type: Condos
  • Stories: 2

Interior Features

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

Exterior Features

  • Dockage: None
  • Waterfront: Oceanfront, Open Water
  • Waterfront: Yes
  • Construction: CBS, Combo Construction, Frame
  • Exterior Features: Sandy Beach, Storage
  • Waterview: Ocean View, Open Water View
  • Pool: Yes

Utilities

  • Security: Patrolled Area
  • Utilities: FKAA, Elect Separate Meter, Buyer to Verify

Lot Info

  • Deed Restrictions: Yes
  • Flood Zone: AE,AE,VE,VE,AE
  • Parcel Number: 00073990-003200
  • 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 13, 2023
Closed on
Sep 18, 2023
Sold by
Key Colony Beach Llc
Bought by
Ndj Partners Llc
Seller's Agent
Monica Barrett
Coldwell Banker Schmitt Real Estate Co.
Buyer's Agent
Lisa Ferringo
Coldwell Banker Schmitt Lower Keys (KW)
List Price
$965,000
Sold Price
$890,000
Premium/Discount to List
-$75,000
-7.77%
Views
79
Current Estimated Value
$751,235

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$138,765
Avg. Annual Appreciation
-5.58%

Purchase Details

Listed on
Jul 13, 2023
Closed on
Sep 8, 2023
Sold by
Juliann F Kohl Trust
Bought by
Key Colony Beach Llc
Seller's Agent
Monica Barrett
Coldwell Banker Schmitt Real Estate Co.
Buyer's Agent
Lisa Ferringo
Coldwell Banker Schmitt Lower Keys (KW)
List Price
$965,000
Sold Price
$890,000
Premium/Discount to List
-$75,000
-7.77%
Views
79

Purchase Details

Closed on
Dec 1, 1983
Bought by
Key Colony Beach Club Inc
Source: Public Records

Range of Values:

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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
Ndj Partners Llc $890,000 None Listed On Document
Key Colony Beach Llc $101,000 None Listed On Document
Key Colony Beach Club Inc -- --
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/18/2023 09/18/23 Sold $890,000 -7.8% $889 / Sq Ft
08/07/2023 08/07/23 Pending -- -- --
07/13/2023 07/13/23 For Sale $965,000 -- $964 / 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 $1,502 $726,911 -- $726,911
2023 $1,502 $101,851 $0 $101,851
2022 $1,037 $101,851 $0 $101,851
2021 $1,083 $101,851 $0 $101,851
2020 $1,039 $101,851 $0 $101,851
2019 $983 $101,851 $0 $101,851
2018 $1,404 $101,851 $0 $0
2017 $2,394 $256,230 $0 $0
2016 $2,376 $256,230 $0 $0
2015 $1,917 $157,081 $0 $0
2014 $1,959 $157,081 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2023

    Monica Barrett

    Coldwell Banker Schmitt Real Estate Co.

    (305) 289-6554

    241 Total Sales

    Monica Barrett
    Section Image
  • Rick Servais

    Seller Co-Listing Agent in 2023

    Rick Servais

    Coldwell Banker Schmitt Real Estate Co.

    (305) 433-0349

    228 Total Sales

    Rick Servais
    Section Image
  • Lisa Ferringo

    Buyer's Agent in 2023

    Lisa Ferringo

    Coldwell Banker Schmitt Lower Keys (KW)

    (305) 797-1221

    640 Total Sales

    Lisa Ferringo
    Section Image
See All Agents

Map

Source: Marathon and Lower Keys Association of REALTORS®

MLS Number: 605953

APN: 00073990-003200

Florida Monroe County Key Colony Beach 33051

501 E Ocean Dr Unit 32, Key Colony Beach, FL

This home is located at 501 E Ocean Dr Unit 32, Key Colony Beach, FL 33051 since 13 July 2023 and is currently estimated at $751,235, approximately $750 per square foot. This property was built in 2023. 501 E Ocean Dr Unit 32 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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