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Pinnacle Real Estate Group – FL

127 & 121 Monroe Drive 13, Islamorada, FL 33070 (MLS# A12061389)

127 & 121 Monroe Drive 13, Islamorada, FL 33070

$2,899,000
Property Type: Residential Income Square Footage: 2,409 Status: Active
Current Price: $2,899,000 List Date: 6/15/2026 Last Modified: 8/01/2026

Overview

Description

Exceptional investment and lifestyle opportunity in the heart of Plantation Key. This offering includes a triplex income property together with the adjacent multifamily lot, giving you both immediate rental income and room to grow. In Islamorada, it's rare to find side-by-side multifamily parcels in such a convenient, desirable neighborhood. This CBS triplex is 2,409 sq ft on a 7,500 sq ft lot, with 3 rental units (1/1, 1/1, 2/2), full kitchens and baths, abundant on-site parking, and great outdoor living areas. Units 1 and 3 were renovated with updated interiors that attract solid tenants. In 2025, the dock electric was upgraded with a dedicated meter for dock power, one on each property. Next door, 121 Monroe Drive is an additional multifamily parcel of about 7,500 sq ft, ready for development. Add more units, a pool, covered parking with storage, or enhance outdoor spaces to create a cohesive compound and boost rental revenue. Multifamily waterfront land in Islamorada is limited, an ...

Listing Details MLS# A12061389

General Property Information

Number Of Units Total
Yes
Property Sub Type
Triplex
Living Area Main
2409
Year Built
1972
Parking Total
10
Waterfront YN
Yes
Water Frontage Feet
120
Stories Total
2
Pool Private YN
No

Property Features

Documents Available: Existing Survey Flooring: Laminate; Tile Property Condition: Resale; Updated/Remodeled Boat and Dock Features: Private Dock Construction Materials: CBS Cooling: Ceiling Fan(s); Wall/Window Unit(s) Heating: Heat Strip; Separate Meters Listing Terms: Cash; Conventional; FHA; VA Loan Possession: Close Of Escrow Roof: Concrete Sewer: Public Sewer Utilities: Cable Available Water Access: No Fixed Bridge; Ocean Access Waterfront Features: Canal Front Showing Requirements: 24 Hour Notice; Appointment Only; Call Listing Agent Unit 1 Appliances: Dishwasher; Dryer; Microwave; Range; Refrigerator; Washer Unit 1 Other Equipment: Smoke Detector(s) Unit 1 Parking Features: Open Parking Acreage Description: 1/4 To Less Than 1/2 Acre Lot

Contract Information

Comp Sale YN
No
Original List Price
2899000

Location and Legal

Country
United States
County Or Parish
Monroe
County Parish Name
Monroe
Street Number
127
Street Name
& 121 Monroe
Street Suffix
Drive
Unit Number
13
City Name
Islamorada
State Or Province
FL
Postal Code
33070
Postal Zip
33070
Subdivision Name
Vacation Village-AMD (89)
Development Name
24.9961° N latitude
Area
5940 - Other Florida County
Geographic Area
Other
Elementary School
Plantation Key
Middle Or Junior School
Plantation Key
High School
Coral Shores
Parcel Number
00417500000100
Subdivision Number
98
Zoning
MF - Multi-Family At

Financial Information

Tax Annual Amount
21308
Tax Year
2025
Tax Legal Description
BK 1 W 1/2 LOT 4 VACATION VILLAGE AMND AND EXTENDED PB5-69 PLANTATION KEY OR528-881 OR1316-2492 OR2973-641 OR2973-642 OR

Status Change Information

Major Change Timestamp
2026-06-15T04:00:00Z
Major Change Type
New Listing
Status Change Date
2026-07-31

More Information

Meter Information

Separate Electric Meters YN
Yes

Income and Expenses

Gross Income
7870

Boat and Dock Information

Dock
Yes
Boat Dock Accommodates
Up to 100 Ft Boat

Unit 1 Details

Actual Rent
7870
Baths Full
4
Efficiency YN
No
Furnished
Unfurnished

Unit 1 Lease Description

Currently Leased YN
Yes

Price Calculations

Current Price To SqFt
1203.4

Section Details

Parcel Number MLX
0000

Originating Details

Originating System Key
538036937
Originating System ID
M00000151
IDX
Listing Office: LoKation
Source MLS Verified
Last Updated: August - 01 - 2026
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2026 Beaches Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

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