1500 Ocean Bay Dr

Key Largo, FL 33037

$750,000

$758/ft²

2Beds

2.5Baths

990Sq ft

1975Year built

TownhouseType

About this home

Welcome to your Florida Keys retreat at the desirable Kawama Yacht Club in Key Largo! One of the few properties in Key Largo that allows Nightly Rentals. This beautifully maintained 2-bedroom, 2-bath townhouse-style condominium offers the perfect blend of comfort, investment potential, and resort-style living. Enjoy spacious living areas, ceramic tile flooring, abundant natural light, and screened patios ideal for relaxing after a day on the water. The community is surrounded by lush tropical landscaping and offers exceptional amenities including a waterfront pool, tennis courts, marina, ocean access, playground, walking paths, and 24-hour gated security. Conveniently located just minutes from world-class fishing, diving, boating, waterfront dining, John Pennekamp Coral Reef State Park, and all that the Florida Keys lifestyle has to offer. Whether you're searching for a full-time residence, vacation getaway, or income-producing investment, this property offers endless possibilities in one of Key Largo's most sought-after communities. Condominium fee is $422/month, with an additional HOA fee of $850/quarter. Don't miss this opportunity to own your piece of paradise in the Florida Keys!

Property details

Listing

MLS #: A12063168
Status: For sale
Listed on: Jul 31, 2026
Days on market: 9 days
Listing data updated: Aug 8, 2026

Interior

Beds: 2
Baths: 2.5
Living area: 990 ft²
Price per ft²: $758/ft²
Unit: A1

Building & community

Type: Townhouse
Year built: 1975
HOA fee: $427/mo
County: Monroe

Days on market, price per ft² and the monthly HOA amount are calculated by this site from the MLS data shown; the association fee is normalized to a monthly figure.

True monthly cost

Mortgage (principal & interest): $3,792
Property taxes (est.): $688
Home insurance (est.): $433
Flood insurance (est.): —
HOA fee: $427

Estimated total$5,340*/mo

* Some cost lines aren't available yet for this listing; the total shown is incomplete.

Based on 20% down, a 6.5% rate and a 30-year loan, plus this home's estimated Florida carrying costs. All figures are illustrative estimates — not quotes, not financial or insurance advice.

Sources: flood zone — FEMA National Flood Hazard Layer; mortgage, taxes and insurance figures — this site's own estimates; HOA / CDD — as reported for this listing.

What will this home really cost you?