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Key Largo 33037
1525 Ocean Bay Drive
$4,950,000
House - For Sale

1525 Ocean Bay Drive

Key Largo, FL 33037
bedrooms
3 Beds
bathrooms
3.5 Baths, 1 Half Bath
square feet
3363 Sqft
$25,678
Estimated Monthly
$690
HOA / Fees
0.88%
Cap Rate

About This Property

Escape to paradise with this exceptional oceanfront home located on over 2 acres of preserved, gated nature in Key Largo. Secluded and surrounded by the serene beauty of the Florida Keys, this concrete masterpiece boasts three bedrooms, offering a blend of comfort and luxury. Cathedral ceilings amplify the sense of space and light, creating an open and inviting atmosphere throughout the home. The spacious and detailed kitchen features modern appliances and seamlessly integrates with the dining area, providing a perfect setting for casual meals and lavish gatherings. Floor-to-ceiling windows and sliding glass doors lead to an expansive patio, merging indoor and outdoor living spaces. The crown jewel of this oceanfront abode is the very large primary bedroom, a private sanctuary with panoramic views. The ensuite bathroom features luxurious amenities and a deep soaking tub, creating a spa-like retreat.Outside, the property offers a rare and coveted deep water deeded boat slip with a boat lift at Kawama Marina, just a short stroll away. Boating enthusiasts will appreciate the convenience and accessibility to the crystal-clear waters and vibrant marine life that the Florida Keys are renowned for. The grounds are surrounded by lush greenery and swaying palms and provide a sense of seclusion and tranquility. Enjoy the gentle ocean breeze from your private oasis, or take a short walk to the nearby marina for a day of boating and water adventures. This oceanfront retreat is not just a home; it's a lifestyle. The property stands as a blank canvas, awaiting visionary owners to take it to the next level. Your dreams and aspirations can come to life as you mold this coastal sanctuary into a personalized masterpiece.

The manager has listed the unit size as 3363 square feet.
Unit Size
3,363Ft²
Days on Market
99 days
Land Size
2.15 acres
Price per sqft
$1,472
Property Type
House
Property Taxes
$682
HOA Dues
$690
Year Built
1994

Listed By

Pierre Marc Bellion
Ocean Sotheby's International Realty
Last updated: 4 months ago (FLKEYSMLSFL #608740)

Price History

Date / Event Date Event Price
Feb 15, 2024 Listed by Ocean Sotheby's International Realty $4,950,000
Listed by Ocean Sotheby's International Realty
May 29, 2015 Sold to Alan Cooper $912,500
Sold to Alan Cooper
Jun 5, 2006 Sold to Marco A Sainz, Margarita F ... $1,600,000
Sold to Marco A Sainz, Margarita F ...

Property Highlights

Building Info

Overview

    General

  • Year Built: 1994
  • Effective Year Built: 2000
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: Good
  • Building Quality: C+
  • Construction Type: Concrete block
  • Exterior Walls Type: Concrete block
  • Interior Walls Type: Plaster
  • Roof Shape Type: Cathedral
  • Roof Cover Type: Metal
  • Floor Count: 3
  • Living Units: 1
  • Floor Cover: Concrete
  • Basement Type: Finished improved basement
  • Basement Area: 0
  • Garage Type: Covered
  • Garage Square Area: 2,468
  • Parking Space Count: 8
  • Pool Type: Pool

    Dimensions

  • Lot Size Square Feet: 26,658
  • Total Building Area: 3,363
  • Gross Building Area: 3,363
  • Building Area: 3,363
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Air Conditioning: Yes
  • Heating: Forced air unit
  • Heated Square Feet: 3,363
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: ISLAND KEY LARGO
  • Land Acres: 0.612
  • Standard Land Use Code: Single family residential
  • Legal Description 1: 4 62 39 ISLAND OF KEY LARGO PT GOV LOT 1 OR380-398 OR490-448 OR490-446 OR1130-86 OR2214-207/08 OR2214-209/10 OR2234-2077/78 OR2743-16/19 OR2773-402/03

Ownership

  • Current Owner : COOPER ALAN
  • Previous Owner : SAINZ MARGARITA F
  • Owner Before Previous Owner: RICE CHARLES M
  • Owner Before Previous Owner 2: RICE IMOGENE
  • Is Owner Occupied: Owner-occupied property
  • Ownership Rights Codes: Revocable Trust
  • Current Owner Is a Corporation Indicator: Yes

Neighborhood

  • School District Name: Monroe County School District
  • Census Tract: 972700

Zoning

  • Zoning: SS

Geography

  • Assessors Map Reference: 25-04
  • Account Number: 1102385
  • Parcel: 00090400-000200
  • Lot: 1
  • Meridian: SEC 04 TWN 62S RNG 39E
  • Municipality: KEY LARGO FROM SOUTH BAY HARBO
  • Latitude: 25.0809
  • Longitude: -80.4405

    Address

  • Full Address: 1525 Ocean Bay Dr Ext
  • Address - House Number: 1525
  • Address - Street Name: Ocean Bay Dr
  • Address - Suffix Type: Ext
  • State: FL
  • City Name: Key Largo
  • Zip Code: 33037

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $7,680
  • Tax Rate Code Area: 500K

    Appraisal Valuation

  • Standard Deviation: 0.2145
  • Valuation Date: Jan 03, 2024
  • Confidence Score: 70
  • Final Value: 2,198,328
  • High Value: 2,669,939
  • Low Value: 1,726,718

    Market Valuation

  • Market Total Value: $1,701,539
  • Market Land Value: $1,161,852
  • Market Improvement Value: $539,687

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,015,097

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: May 26, 2015
  • Current Sale Recording Date: May 29, 2015
  • Current Sale Transaction ID: 1223708742
  • Current Sale Price: $912,500
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 2030974
  • Previous Sale Recording Date: Jun 05, 2006
  • Previous Sale Contract Date: Apr 14, 2006
  • Previous Sale Amount: $1,600,000
  • Previous Sale Document Type: Warranty Deed

    Previous Mortgages

  • Previous Mortgage Lender: WELLS FARGO BANK NA
  • Previous Mortgage Transaction Date: Jun 05, 2006
  • Previous Mortgage Loan Amount: $999,999
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: Unknown (DEFAULT)
  • Previous Mortgage Loan Due Date: May 01, 2036

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
House
4 Beds
4.5 Baths
2,507 ft²
$1,795/ft²
$4,500,000 Dec 4, 2023
-
$1,098/mo

About Key Largo


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Frequently Asked Questions

When was property at 1525 Ocean Bay Dr Extension built and last sold?
The property at 1525 Ocean Bay Dr Extension was built in 1994 and last sold on May 26, 2015 for $912,500.
How much is this home worth?
The estimated value of the home located at 1525 Ocean Bay Dr Extension is $4,875,936.
What are some comparable homes to 1525 Ocean Bay Dr Extension?
Homes that are comparable to 1525 Ocean Bay Dr Extension include a house property at 113 Oleander Circle, located in Key Largo, FL.

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