Top-Floor Oceanfront Condo | STR Rentals Approved | Income-ProducingInvestor alert! This stunning top-floor 2BD/2BA condo in Kawama Tower offers breathtaking panoramic ocean views and is fully approved for short-term rentals--making it a rare and highly desirable income-producing property in Key Largo.Turn-key and rental-ready, the unit features impact windows and doors, an updated kitchen, new flooring, stylish bathrooms, and a spacious split-bedroom layout ideal for hosting guests. Balcony overlooking the ocean view. Maximize returns with high nightly rental rates, year-round demand, and a proven STR market in this sought-after location.Set in a gated, resort-style community with a private beach, deep-water marina to rent a slip, boat ramp, pool, tennis pickle ball courts, and 24/7 security, this property offers strong appreciation potential and immediate cash flow.Whether you're looking to expand your portfolio, complete a 1031 exchange, or own a piece of paradise--this property ticks all the boxes.It offers an excellent balance of lifestyle, convenience, and income potential. Unit 509 is a premium pick in Kawama Tower - Act now to secure your own slice of Key Largo paradise! Exceptional location, stunning views, and impressive amenities and rental income --your dream Island and oceanfront lifestyle awaits!
Sold for $786,000 on 08/25/25
$786,000
1530 Ocean Bay Dr APT 509, Key Largo, FL 33037
2beds
1,188sqft
Condominium, Residential - Condo/Townhouse
Built in 1993
-- sqft lot
$786,500 Zestimate®
$662/sqft
$4,617 Estimated rent
Owner options
What's special
Zillow last checked: 7 hours ago
Listing updated: August 26, 2025 at 03:03am
Listed by:
Terry Canto,Top Producer 305-394-3037,
American Caribbean Real Estate, Christie's International Real Estate
Bought with:
Terry Canto,Top Producer, 626852
American Caribbean Real Estate, Christie's International Real Estate
Source: FLKMLS,MLS#: 614754
Originating MLS: Florida Keys

Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
Cooling
- Central Air
Appliances
- Included: Washer, Stainless Steel Appliance(s), Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
- Laundry: Laundry Room
Features
- Split Bedroom, Quartz Countertops, Storage, Granite Counters
- Flooring: Tile
- Doors: Impact Rstnce Doors
- Windows: Impact Rstnce Window
- Furnished: Yes
Interior area
- Total interior livable area: 1,188 sqft
Property
Parking
- Parking features: Assigned, Trailer Storage, Guest
Features
- Levels: 5 Stories
- Stories: 5
- Patio & porch: Open Porch/Balcony
- Exterior features: Sandy Beach, Tennis Court(s)
- Has private pool: Yes
- Pool features: Heated, In Ground, Concrete
- Has view: Yes
- View description: Ocean, Water
- Has water view: Yes
- Water view: Ocean,Water
- Waterfront features: Oceanfront, Open Water, Waterfront, Sandy Beach, Dockage: Boat Ramp
Lot
- Features: 10 or more Acres
Details
- Parcel number: 00090495000509
- Zoning: SR
- Zoning description: Sub Urban Residential District
Construction
Type & style
- Home type: Condo
- Property subtype: Condominium, Residential - Condo/Townhouse
Materials
- CBS, Concrete
- Roof: Concrete
Condition
- Updated/Remodeled
- New construction: No
- Year built: 1993
Utilities & green energy
- Sewer: Municipal Sewer, Public Sewer
- Utilities for property: FKAA
Community & neighborhood
Security
- Security features: Gated with Guard
Community
- Community features: Pool, Bike Paths, Beach, Tennis Court(s), Community Boat Ramp
Location
- Region: Key Largo
- Subdivision: Kawama Tower (100.0)
HOA & financial
HOA
- Has HOA: Yes
- HOA fee: $1,350 monthly
- Services included: Maintenance Structure, Security, Maintenance Grounds, Building Insurance
Other
Other facts
- Listing terms: Cash,Conventional