58234 Overseas Highway, MARATHON, FL

$1,800,000

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7

Beds

7

Baths

2,190

Square feet

0.18

Acres

About 58234 Overseas Highway

Very unique property in the old Keys Style. 5 Building Rights on this 18,000 sq ft Oceanfront parcel on Grassy Key, with Bay Bottom and a boat ramp (shared with adjoining parcel) City of Marathon has approved a Letter of Determination for five (5) building rights (TBR's) upon the property, however Letter is currently in review period by Florida Department of Commerce (Formerly DEO) with an appeal date of 4/25/24. Property currently contains a Triplex with a 2/2 apt and two 1 bed/1 bath apts; a small studio with 1 bath, and a mobile home with 2 beds/1.5 baths. Triplex was inspected and found to be unsafe structure. It CAN NOT be occupied. Seller has been advised he could possibly repair the building within the guidelines of the City's Substantial Improvement ordinance but Buyer needs to verify this. Should a Buyer decide to demolish the triplex density requirements would limit the number of units that could be rebuilt. Current zoning and density should allow for two units to be built on the property. A buyer might choose to demolish the triplex and leave mobile home and studio unit in place...and keep the remaining three (3) TBRs.

Features of 58234 Overseas Highway

MLS® # 609161
Price $1,800,000
Bedrooms 7
Bathrooms 7.00
Full Baths 6
Half Baths 1
Square Footage 2,190
Acres 0.18
Year Built 1975
Type Residential
Sub-Type Multi-Units
Style Single Wide
Status Active

Community Information

Address 58234 Overseas Highway
Area 19 - Crawl Key & Grassy Key
Subdivision Crains Sub (58.0)
City MARATHON
County Monroe
State FL
Zip Code 33050

Amenities

Utilities Elect Separate Meter, Municipal Sewer, FKAA
Parking Off Street Parking
View Ocean View, Open Water View
Is Waterfront Yes
Waterfront Oceanfront, Open Water
Has Pool No

Interior

Cooling Window/Wall Unit
Fireplace No
Stories 2 Stories

Exterior

Lot Description 1/4 - 1/2 Acre
Construction CBS, Manufactured

Additional Information

Date Listed March 12th, 2024
Days on Market 32
Zoning RM - Residential Medium
Short Sale No
RE / Bank Owned No
HOA Fees 0.00

Listing Details

AgentJoshua Mothner
OfficeColdwell Banker Schmitt Real Estate Co.

Listing Map

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