2264 Overseas Hwy #1-8, Marathon, FL 33050

$8,650,000
Property Type: Residential Bedrooms: 32 Baths: 24 Square Footage: 23,680 Lot Size (sq. ft.): 60,113 Status: Closed
Current Price: $8,650,000 List Date: 11/03/2021 Last Modified: 1/13/2026

Description

Built in 2018, turnkey waterfront vacation rental development comprised of eight single family houses, each with four bedrooms and three full bathrooms built to current windstorm standards. Each home is designed for guests to enjoy their own private pool, laundry, outdoor grill area, covered parking and balconies. Excellent rental history and future bookings with tremendous growth opportunity. This vacation rental compound was built to maximize income and minimize overhead. Guests can enjoy the community beach, docks, tiki hut, fish cleaning station, plus nearby amenities including tons of dining options such as Florida Keys Steak and Lobster House, major food and home shopping chains, two major marinas and Marathon Airport.

Supplements: Monthly rental rates average $12,400/mo for units 1-5 and $16,500/mo for units 6-8. Marathon is a 10-mile-long island community conveniently situated in the middle of the Keys island chain, comprised mainly of Vaca Key, Fat Deer Key and Grassy Key. Residents, snowbirds and visitors enjoy Marathon's fishing heritage, an old-Keys lifestyle and seafaring traditions, a theme celebrated in the area's accommodations, such as private waterfront vacation homes, small hotels, beachside inns and tropical, family-style resorts; and annual seafood festivals and waterside restaurants that harvest fresh fish, lobster and stone crab claws from local waters. Marathon is one of the Keys' most marine-friendly cities with nearly 1,200 wet slips, 1,200 dry slips and major facilities to accommodate transient cruisers.Marathon City Marina, considered the Keys' jewel for cruisers, administers 226 mooring balls and has limited dockage. Both mooring balls and dockage are available by the day, week or month.There are also special mooring and managed anchorage fields in Boot Key Harbor as part of a statewide environmental protection pilot program. Boats on a mooring ball do pay a fee.Other features include two dinghy docks, storage, private showers and bathroom facilities, social center, coin-operated laundry and parking.Florida Keys Marathon International Airport busily accommodates a full range of services for general aviation enthusiasts and corporate jet operators. Two full-service FBO's offer fuel, maintenance, tie-down, pilot and passenger facilities. Ground transportation options are available including an airport shuttle, car rental agencies and taxi service.Marathon offers spectacular sailing, fishing, world-class wreck and reef diving and snorkeling, in addition to the island's impeccably maintained beaches, eco-attractions and marine-based educational programs.Iconic learning centers with educational focus where visitors can enjoy unique interactive experiences include The Turtle Hospital, which was the world's first licensed veterinary hospital dedicated to the treatment of sea turtles, and Dolphin Research Center, a not-for-profit education and research facility since 1984.Florida Keys Aquarium Encounters features a coral reef exhibit and a predatory fish habitat housed in a 200,000-gallon interconnected saltwater aquarium.Visitors can enjoy an immersive, interactive experience where they can touch, feel and feed reef fish, invertebrates, stingrays and even sharks.At Crane Point Museum, Nature Center & Historic Site, visitors can hike through a wondrously preserved tropical hardwood grove and visit the home of an early 20th-century settler family.Visitors to the five-acre Pigeon Key venture back in time to experience a tiny island that once served as a home base for workers building the Florida Keys Over-Sea Railroad.A federally protected section of the United States' only living coral barrier reef lies just a few miles offshore, at teeming formations such as Delta Shoals, Coffin Patch and Sombrero Reef, shallow sites popular for students learning to scuba dive.In the deeper blue waters of the Florida Straits lie artificial reefs and the purposely-sunk wreck of the Thunderbolt.On the north side of the island lie the calm waters of the Gulf of Mexico, Florida Bay and the Keys backcountry.

More Information MLS# R10676029

Contract Information

Comp Sale YN: No Listing Contract Date: 2020-12-04 Status: Closed Original List Price: 9875000 Sold Price: $8,650,000 Current Price: $8,650,000

Location and Legal

County Or Parish: Monroe County Parish Name: Monroe City Name: Marathon Postal Zip: 33050 Development Name: Keys Cove Special Assessment YN: No Building Name: 1-8 Street Number: 2264 Street Name: Overseas Hwy #1-8 State Or Province: FL Postal Code: 33050 Subdivision Name: Keys Cove Area: 5940 - Other Florida County Parcel Number: 00102290000000 Zoning: MU Directions: Located next to the newly constructed Courtyard by Marriott in Marathon, FL at mile marker 48.2 in the Florida Keys.

General Property Information

Number Of Units In Community: 8 Total Units In Building: 1 Living Area Main: 11804 Attached Carport YN: Yes Gated Community YN: No Lot Size Area: 60306 Senior Community YN: No Outdoor Living Spaces YN: Yes Furnished: Furnished Stories Total: 2 Stories: 2 Pool Private YN: Yes Year Roof Installed: 2018 Property Sub Type: Single Family Residence Bedrooms Total: 32 Bathrooms Total: 24 Bathrooms Full: 24 Building Area Main: 23680 Building Area Source: Appraiser Year Built: 2018 Carport YN: 1 Carport Spaces: 16 Covered Spaces: 16 Lot Size Acres: 1.38 Frontage Length: 110 Waterfront YN: 1 Direction Faces: South Builder Model: Vacation Rentals

Financial Information

Association Deposit YN: No Membership Fee Required YN: No Tax Annual Amount: 33878.1 Tax Year: 2020 Tax Legal Description: 9 66 32 KEY VACCAS PT LOT 1 AND ADJ PT R-O-W OR71-43 OR73-462 OR499-151/52 OR499-154/55 OR570-338E OR775-977 OR944-192QC

Office/Member Information

DXORIGMLSID: RML

Status Change Information

Buyer Financing: Trade Major Change Timestamp: 2022-03-04T13:55:11Z Major Change Type: Status Change Price Change Timestamp: 2021-09-14T20:59:37Z Status Change Date: 2022-03-04 Under Contract Date: 2022-01-31 Close Date: 2022-03-04 Close Price: 8650000

Amenities

Boating: 1 Cabana: 1 Picnic Area: 1 Private Beach Pavilion: 1

Dining Area

Eat-In Kitchen: 1 Kitchen Dining: 1 Snack Bar/Counter: 1

Electric

Three Phase: 1

Parking Features

Attached Carport: 1

Parking Information

Open Parking Spaces: 16

Property Condition

Resale: 1

Short Sale Details

Short Sale Addendum: No

Possession

Negotiable: 1

Sewer

Public Sewer: 1

Utilities

Cable Available: 1 Sewer Available: 1 Water Available: 1

Heating

Central: 1

Leasing Restrictions

Leasing - Max Times Per Year: 52 Leasing - Minimum Number of Days: 7

Water Access

No Fixed Bridge: 1 Ocean Access: 1

Water View

Ocean: 1

Appliances

Dishwasher: 1 Dryer: 1 Electric Range: 1 Microwave: 1 Refrigerator: 1 Washer: 1 Water Heater: 1

Construction Materials

Concrete: 1

Interior Features

Bedroom Layout - Stacked: 1

Laundry Features

Inside: 1

Listing Terms

Cash: 1 Conventional: 1 Lease Option: 1 Lease Purchase: 1 Owner Will Carry: 1

Roof

Metal: 1

Water Source

Public: 1

Waterfront Features

Navigable Water: 1 Ocean Front: 1 Seawall: 1 No Fixed Bridges: 1

Water Heater Details

Electric Water Heater: 1

Architectural Style

Key West: 1

Boat and Dock Information

Dock: Yes Boat Max Length: 60 Dock Details: 8, Boat Services: Y Boat Dock Accommodates: Up to 60 Ft Boat

Boat and Dock Features

Private Dock: 1

Cooling

Ceiling Fan(s): 1 Central Air: 1

Showing Requirements

24 Hour Notice: 1 Appointment Only: 1 Occupied: 1

Main Level Rooms

Main Level Bathrooms: 24 Main Level Bedrooms: 32

Master Bedroom/Bath

Dual Sinks: 1

Membership

No Membership Available: 1

Pets Allowed YN

Yes: 1

Pool Size Details

Pool Size (WxL): 8 Pools 20x12

Restrictions

No Restrictions: 1

Storm Protection

Impact Glass: Complete

Tax Information

City/County: 1 New Construction: 1

Occupant Details

Tenant Occupied: 1

Showing Details

Pet(s) on Premises: No

Outdoor Living Spaces

Balcony: 1 Deck: 1 Patio: 1

Balcony Details

Balcony - Open: 1

Patio Details

Patio - Covered: 1

Contingencies

None: 1

Room Types

Family Room: 1 Kitchen: 1 Kitchen Level: Main Laundry: 1 Living Room: 1 Living Room Level: Main Master Bedroom: 1 Master Bedroom Level: Main

Concessions

Seller Concessions: No

Contributions

Buyer Contributions: Yes

Contributions Detail

Closing Costs: 1

Price Calculations

Current Price To SqFt: 732.8 Original List Price To Close Price: 1.14

Acreage Description

1 To Less Than 2 Acre Lot: 1

Originating Details

Originating System Key: 20201204224530450543000000 Originating System ID: M00000170

Property Features

Dining Area: Eat-In Kitchen; Kitchen Dining; Snack Bar/Counter Electric: Three Phase Parking Features: Attached Carport Property Condition: Resale Appliances: Dishwasher; Dryer; Electric Range; Microwave; Refrigerator; Washer; Water Heater Water Heater Details: Electric Water Heater Architectural Style: Key West Boat and Dock Features: Private Dock Construction Materials: Concrete Cooling: Ceiling Fan(s); Central Air Heating: Central Interior Features: Bedroom Layout - Stacked Laundry Features: Inside Listing Terms: Cash; Conventional; Lease Option; Lease Purchase; Owner Will Carry Membership: No Membership Available Pets Allowed YN: Yes Possession: Negotiable Restrictions: No Restrictions Roof: Metal Sewer: Public Sewer Tax Information: City/County; New Construction Utilities: Cable Available; Sewer Available; Water Available Water Access: No Fixed Bridge; Ocean Access Water Source: Public Water View: Ocean Waterfront Features: Navigable Water; Ocean Front; Seawall; No Fixed Bridges Showing Requirements: 24 Hour Notice; Appointment Only; Occupied Occupant Details: Tenant Occupied Outdoor Living Spaces: Balcony; Deck; Patio Balcony Details: Balcony - Open Patio Details: Patio - Covered Contingencies: None Contributions Detail: Closing Costs Room Types: Family Room; Kitchen; Laundry; Living Room; Master Bedroom Acreage Description: 1 To Less Than 2 Acre Lot

Room Information

Living Room Length: 18.00 Length: 18.00 Width: 12.00 Width: 12.00 Level: Main Kitchen Length: 12.00 Length: 12.00 Width: 10.00 Width: 10.00 Level: Main Master Bedroom Length: 16.00 Length: 16.00 Width: 12.00 Width: 12.00 Level: Main Family Room Laundry
Listing Office: Compass Florida LLC
IDX
Last Updated: January - 13 - 2026
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2026 Beaches Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.