500 22nd St, Unit 14

Marathon, FL 33050

$1,249,000
Price
8
Beds
2,780 Sq. Ft.
$449 / Sq. Ft.
2,780
Sq. Ft.
$449
per Sq. Ft.
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Description

Seller Financing Available! Attention investors and business owners: This four-unit apartment building presents a compelling opportunity in the heart of the Florida Keys, offering immediate income with long-term strategic value. Each of the four units features a comfortable two-bedroom, one-bath layout, with long-term tenants currently in place, providing stable cash flow from day one. Each apartment is separately metered for electricity, allowing tenants to manage their own usage--an added benefit...Seller Financing Available! Attention investors and business owners: This four-unit apartment building presents a compelling opportunity in the heart of the Florida Keys, offering immediate income with long-term strategic value. Each of the four units features a comfortable two-bedroom, one-bath layout, with long-term tenants currently in place, providing stable cash flow from day one. Each apartment is separately metered for electricity, allowing tenants to manage their own usage--an added benefit for ownership efficiency. The property also offers ample on-site parking, a valuable amenity in the Keys, along with a shared laundry facility located at the rear of the property, enhancing convenience for residents. The property is currently operating at an approximate 5.87% cap rate, with clear room for growth. Rents are presently below market, creating a realistic path for increased returns, with projections indicating the potential to achieve a 7.4%+ cap rate over time as adjustments are made in accordance with applicable guidelines. Toward the long-term, this property is deed-restricted affordable housing, making it particularly attractive for local employers seeking workforce housing solutions and investors focused on sustainable, community-oriented assets. Ownership may support employee retention while maintaining consistent demand in a high-need market. This offering represents a rare blend of steady income, upside potential, and long-term stability in one of the most sought-after areas of the Florida Keys.
  1. Listed by Samuel Davis Williams • Coldwell Banker Schmitt Real Estate Co.

Property Details for 500 22nd Street, Unit 14

Waterfront
None
Waterfront
No
Zoning
RH - Residential High
Subdivision
R & R Subdivision (48.5)
Directions
Ocean Side, turn on 22nd Street. Apartment building is 3/4 of the way down the street on the left hand side.
Vehicle Storage
Open Parking, Off Street Parking
Pets
Pets Allowed
LISTING UPDATED: 02/02/2026 11:59 AM

Property Details for 500 22nd Street, Unit 14

StatusActive
MLS #618043
Days on Market30
Taxes$7,700 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential / Multi-Units
Year Built1973
Lot Size0.14 AC / 6,002 SF
CountyMonroe County

Location

Listing Courtesy of Coldwell Banker Schmitt Real Estate Co.
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Building Information for 500 22nd Street, Unit 14

Stories2Residences4Year Built1973Building Size-Lot Size0.14 AC / 6,002 SF

Payment Calculator

$6,729 per month

30 year fixed, 6.15% Interest

Principal and Interest

$6,087

Property Taxes

$642

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 500 22nd Street, Unit 14

Summary
Location and General Information
  • Waterview: No Waterview
  • Area: 13 - 7 Mile Bridge to Sombrero Bch Rd E & W
  • Absolute Longitude: 81.102742
  • Control Depth: 0
  • Off Shore Island: No
  • Listing Board: Marathon/Lower Keys
  • Side: Ocean
  • Mile Marker: 48.5
  • Marathon Neighborhood: Old Town East (25th to Sombrero)
  • Key/Island: Marathon
Taxes and HOA Information
  • Association Info: Mandatory Home Owners Asc: No
  • Association Info: 1st Right of Refusal: No
  • Fee Includes: None
  • Furnished: Unfurnished
  • Tax Year: 2025
  • Tax Exemptions: None
Property
Lot Information
  • Acres: 0.14
  • Parcel #: 00102830-000100
  • Land Size: Less Than 1/4 Acre
Property and Assessments
  • Legal: 9 66 32 KEY VACCA PT GOV LT 2 ADJ AND S OF LT 6 BLK B R AND R SUBD
  • MLS Approved: Y
  • Bank Owned: No
  • SqFt Source: Property Data Card
  • Flood Zone: AE-7
  • Rentals Allowed: Yes
  • Deed Restrictions: Unknown
  • Picture Count: 11
  • Document Count: 0
  • Building Style: Above Flood: No
Utilities
  • Utilities: FKAA, Elect Separate Meter, Water Separate Meter
  • Pub Sewer HkUp: Yes
  • Species List: No
  • Pool: No
Interior and Exterior Features
Interior Features
  • Appliances: Refrigerator, Microwave, Oven, Range
Exterior Features
  • Roof: Combo Roof
  • Shutters: Bahama, Panel
  • Construction: CBS
  • Dockage: None
  • Windows/Doors: Single Hung Windows
Room Information
  • Specialty Rooms: Utility Room

Property History for 500 22nd Street, Unit 14

DateEvent & SourcePriceAppreciation
Jan 9, 2026

Listed (Active)

FKMLS #618043

$1,249,000—
Jul 11, 2025

Expired

FKMLS #609777

—
Dec 3, 2024

Listed (Active)

FKMLS #609777

—
Nov 30, 2024

Expired

FKMLS #609777

—
Apr 24, 2024

Price Change

FKMLS #609777

$1,899,000—
Apr 24, 2024

Listed (Active)

FKMLS #609777

$1,599,000—
DateEvent & SourcePrice
01/09/2026

Listed (Active)

FKMLS #618043

$1,249,000
07/11/2025

Expired

FKMLS #609777

—
12/03/2024

Listed (Active)

FKMLS #609777

—
11/30/2024

Expired

FKMLS #609777

—
04/24/2024

Price Change

FKMLS #609777

$1,899,000
04/24/2024

Listed (Active)

FKMLS #609777

$1,599,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 500 22nd Street, Unit 14

Taxable ValueLand$252,063Additions$411,283Total$663,346
Tax Record2023$8,429 ($702 / month)
Home Facts
Baths4Total Finished SqFt2,780 SqFtAbove Grade Finished SqFt2,780 SqFtStories2Lot Size6,001 SqFtStyleMulti-Family Dwelling (2-4)Year Built1973Year Renovated2003CountyMONROEAPN00102830-000100

Schools near 500 22nd Street, Unit 14

This home is within Monroe.
Rating
School
Type
Grades
Distance
Stanley Switlik Elementary School
Public - PK to 5
Marathon School
Public - 6 to 12
Coral Shores High School
Public - 9 to 12
Big Pine Academy
Charter - PK to 5
Rating
School
Distance
Stanley Switlik Elementary School
PublicPK to 5

Marathon School
Public6 to 12

Coral Shores High School
Public9 to 12

Big Pine Academy
CharterPK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 500 22nd Street, Unit 14, Marathon, FL 33050

500 22nd Street, Unit 14 is a multi-family home for sale in Marathon, FL 33050. This property was listed for sale on January 9, 2026 by Coldwell Banker Schmitt Real Estate Co., it's currently listed at $1,249,000. This listing's school district is Monroe. Nearby schools include Stanley Switlik Elementary School, Marathon School and Coral Shores High School. 500 22nd Street, Unit 14 is a 8-bed, 4-bath, 2,780 sqft multi-family home built in 1973.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Schmitt Real Estate Co.

Based on information from one of the following Multiple Listing Services: Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.