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340-350 E Ocean Drive DRIVE

KEY COLONY, FL 33051
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Bed 5

Bed

Bath 3

Bath

SqFt2,918

Sqft

Investors! Full Duplex! Own both sides! This is rare opportunity to own a legal duplex being sold in the heart of Key Colony Beach in the beautiful Florida Keys. Located just one street off the Atlantic Ocean, 340-350 E Ocean Drive offers exceptional space, boating access, and an amazing investment opportunity with flexibility at a competitive price designed to sell.With 5 bedrooms, 3 bathrooms, and over 2,900 sq ft of living space, this property provides the rare opportunity to own a large waterfront home while still benefiting from the layout of a legal duplex. Sold together as a single property, it offers incredible versatility for full-time living, vacation use, or income-producing investment.Boaters will appreciate 50 feet of dockage with dual docks, allowing space for multiple vessel s and providing a quick, easy ride to the open Atlantic for world-class fishing and boating.The 340 E Ocean Drive side features towering ceilings and dramatic floor-to-ceiling windows, filling the home with natural light while showcasing beautiful canal views from multiple areas. This side includes 3 bedrooms, 2 bathrooms, and a private balcony to enjoy the coastal breeze.The 350 E Ocean Drive side offers 2 bedrooms and 1 bathroom, along with its own private balcony overlooking the canal, the perfect spot to enjoy a morning coffee or evening sunset.Head over to the Cabana Club which is just steps away, for some fun in the sun!Enjoy both ocean and canal views from this prime location just steps from the Atlantic. With a proven rental history, this property offers outstanding flexibility. Owners have the flexibility to live in one side and rent the other or rent both for maximum income potential.Updates include; Impact windows and doors (2021) 5V Metal Crimp Roof (2021) AC ( 2021 & 2023) New Dock Posts (2024)Competitively priced and offering size, dockage, and location, this is a standout opportunity to own a versatile waterfront property in Key Colony

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Detail Ic Property Details

Property Type : Residential - Single Family

Price : $1,550,000

AD Id : 76062756

MLS Id : 619018

Beds : 5

Living Area Size : 2,918

Year Built : 1986

County : Monroe

Subdivision: West Dade Land

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Feature Features

  • Bedroom Information

    Total Bedrooms: 5 Utility Room

    Bathroom Information

    Total Baths: 3 Full Baths: 3
  • Interior Features

    Cathedral Ceilings,Window Treatments,Storage,Built-in Cabinets Appliances: Washer,Microwave,Oven,Refrigerator,Dishwasher,Dryer
  • Roofing Information

    Metal Roof

    Flooring Information

    Vinyl

    Heating & Cooling

    Cooling: Central Air Heating: Forced Air Water Front: Yes Canal Front Canal View

    Window Information

    Window Treatments: Impact Rstnce Window,Impact Rstnce Doors

  • Building Information

    Year Built: 1986 Floor Location: 5859 Construction: Frame Roof: Metal Roof
  • Exterior Features

    Shed,Storage

  • Lot Information

    Lot SqFt: 5,859 BK 3 LT 45 KEY COLONY BEACH PB3-120 SHELTER KEY
  • Property Information

    SQ ft (Living Area): 2,918 View: Canal View Subdivision: Key Colony Bch Yacht (53.5)

  • Listing Price Information

    List Price: $1,550,000
  • Listing Information

    Cash,Conventional

  • Tax Information

    Taxes: $9,836 Tax Year: 2025 Tax Exemptions: None

  • Multi-Unit Information

    Pets Allowed: Pets Allowed
  • Homeowners Association Information

    Mandatory Home Owners Asc: No 1st Right of Refusal: No Association Fee: $0.00

  • Utility Information

    FKAA,Sewer Available
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
151 10th St, Marathon, FL, 33051 $849,000 2 2 952 952 SqFt

ByOwner last updated this listing 06/06/2026 @ 05:30

MLS: 619018 LISTED BY: Jennifer Hamill , Coldwell Banker Schmitt Real Estate Co. 305-743-5181 SOURCE: Florida Keys MLS, Inc.

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