USAFLPlantation KeyVacation Village - Amd (89.0)1-3-127 & 121 Monroe Drive

1-3-127 & 121 Monroe Drive, Plantation Key, FL

Name: 1-3 - 127 & 121 Monroe Drive, For Sale in Plantation Key - Zoocasa
Brand: LoKation Real Estate - Pompano Beach
SKU: 620278
Price: 2399000 USD

Real Estate

For Sale

Listed price in listed location currency (USD).

$2,399,000

440

MLS® 620278

Overview

Key Facts

Type Multi Family

Levels Residential

Size -

Garage No

Taxes $21,308

Days Active 11

Lot Size 0.3400000035762787 Acres

Approx. Age 1972

MLS® Number 620278

Property Address: 1-3-127 & 121 Monroe Drive, Plantation Key, FL, 33070

Average square foot calculated using Size range provided by listing agent.

Description

Exceptional investment and lifestyle opportunity in the heart of Plantation Key. This offering includes a triplex income property together with the adjacent multifamily lot, giving you both immediate rental income and room to grow. In the Village of Islamorada, it is rare to find side-by-side multifamily parcels in such a convenient, desirable Upper Keys neighborhood. 127 Monroe Drive is a concrete triplex of roughly 2, 400 sq ft on a 7, 500 sq ft lot, with 3 rental units (1/1, 1/1, 2/2), full kitchens and baths, abundant on-site parking, and comfortable outdoor living areas. Units 1 and 3 were renovated with fresh finishes and updated interiors that attract solid tenants and keep maintenance in check. In 2025, the dock electric was upgraded with a dedicated meter for the dock power, one on each property. Next door, 121 Monroe Drive is an additional multifamily parcel of about 7, 500 sq ft, now vacant and ready for your next phase of development. Consider adding more units, a pool, covered parking with storage, or enhanced outdoor spaces to create a cohesive compound and boost rental revenue. Multifamily waterfront land in Islamorada is limited, and demand for quality rentals remains strong. With recent upgrades already completed and easy access to the mainland, this combined offering is a great opportunity for investors, 1031 buyers, or owner-operators who want a flexible Keys property with income today and room for future build-out and long-term appreciation. Free access to Founders Park, with sandy beach, swimming pool, boat ramp, playground, tennis, pickleball, walking paths, sports fields, dog park and daily fun activities and regular events.

MLS® Number620278

Laundry Level

Central VacNo

FireplaceNo

Acreage0.34

Exterior

GarageNo

Approx. Age1972

Basement

DrivewayOpen, RV Access/Parking, Storage

Garage Spaces

HeatDuctless

A/CDuctless

Extras

Map

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