58234 Overseas Highway

Marathon, FL 33050

$1,800,000
Price
7
Beds
6
Baths
1
1/2 Bath
2,190 Sq. Ft.
$822 / Sq. Ft.
2,190
Sq. Ft.
$822
per Sq. Ft.

Description

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...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.
  1. Listed by Joshua Mothner • Coldwell Banker Schmitt Real Estate Co.
  2. Listed by Teri Hiller • Coldwell Banker Schmitt Real Estate Co.

Property Details for 58234 Overseas Highway

Waterfront
Oceanfront, Open Water
Waterfront
Yes
Zoning
RM - Residential Medium
Subdivision
Crains Sub (58.0)
Directions
US 1 to 58234 Overseas Highway.
Building Style
Single Wide
Vehicle Storage
Off Street Parking
Pets
Pets Allowed

Location

Listing Courtesy of Coldwell Banker Schmitt Real Estate Co.
Add your commute
LISTING UPDATED: 03/12/2024 02:33 PM

Property Details for 58234 Overseas Highway

StatusActive
MLS #609161
Days on Market51
Taxes$12,299 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential / Multi-Units
Year Built1975
Lot Size0.41 AC / 18,000 SF
CountyMonroe County

Location

Listing Courtesy of Coldwell Banker Schmitt Real Estate Co.
Add your commute

Building Information for 58234 Overseas Highway

Stories2Residences5Year Built1975Building Size-Lot Size0.41 AC / 18,000 SF

Payment Calculator

$10,848 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,823

Property Taxes

$1,025

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 58234 Overseas Highway

Summary
Location and General Information
  • Waterview: Ocean View, Open Water View
  • Area: 19 - Crawl Key & Grassy Key
  • Absolute Longitude: 80.952995
  • Control Depth: 1
  • Listing Board: Marathon/Lower Keys
  • Side: Ocean
  • Mile Marker: 58.0
  • Marathon Neighborhood: Grassy Key
  • Key/Island: Marathon
Owner
  • Owner Name: Bill Herd
Taxes and HOA Information
  • Association Info: Mandatory Home Owners Asc: No
  • Association Info: 1st Right of Refusal: No
  • Fee Includes: None
  • Tax Year: 2023
  • Tax Exemptions: Homestead
Property
Lot Information
  • Acres: 0.18
  • SqFt Remarks: Buyer to Verify
  • Parcel #: 00368470-000000
  • Land Size: 1/4 - 1/2 Acre
Property and Assessments
  • Legal: BK 18 LT 20 CRAINS SUBD OF GRASSY KEY PB 1-51 AND ADJ PORTION OF FLAGLER STREET
  • MLS Approved: Y
  • Limited Representation: No
  • SqFt Source: Property Data Card
  • Flood Zone: VE,AE,AE,VE
  • Rentals Allowed: With Restrictions
  • Deed Restrictions: Unknown
  • Picture Count: 18
  • Document Count: 0
  • Building Style: Above Flood: Unknown
Utilities
  • Utilities: Elect Separate Meter, Municipal Sewer, FKAA
  • Pub Sewer HkUp: Yes
  • Species List: No
  • Pool: No
Interior and Exterior Features
Interior Features
  • Appliances: Other: Buyer to Verify
Exterior Features
  • Construction: CBS, Manufactured
  • Dockage: None

Property History for 58234 Overseas Highway

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 58234 Overseas Highway

Taxable ValueLand$1,297,815Additions$125,002Total$1,422,817
Tax Record2023$10,828 ($902 / month)
Home Facts
Beds2Baths1Total Finished SqFt882 SqFtAbove Grade Finished SqFt882 SqFtStories1Lot Size24,395 SqFtStyleSingle Family ResidenceYear Built1968Year Renovated1993CountyMONROEAPN00368480-000000

Schools near 58234 Overseas Highway

This home is within Monroe.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 12
Charter - PK to 5
Charter - PK to 8
Rating
School
Distance
Stanley Switlik Elementary School
PublicPK to 5

Marathon School
Public6 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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58234 Overseas Highway is a multi-family home for sale in Marathon, FL 33050. This property was listed for sale on March 12, 2024 by Coldwell Banker Schmitt Real Estate Co., it's currently listed at $1,800,000. This listing's school district is Monroe. Nearby schools include Stanley Switlik Elementary School, Marathon School and Big Pine Academy. 58234 Overseas Highway is a 7-bed, 6.5-bath, 2,190 sqft multi-family home built in 1975.

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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

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.