For sale Multi-Family Home

Listed Aug 3, 2026

$898,000 Est. $5,939/mo

10833 2nd Avenue Gulf Avenue

  • 5

    Beds

  • 3

    Baths

  • 2,111

    Sq ft

The story

LETTER OF DETERMINATION WITH 3 RIGHTS | SELLER FINANCING | INCOME-PRODUCING TRIPLEX IN MARATHONBuilding rights are the scarcest asset in the Florida Keys, and this property comes with a Letter of Determination confirming 3 rights. That makes it an opportunity to hold, improve, or reposition a triplex in the Middle Keys with the entitlements already documented.Seller financing is available: $500,000 down over a 5-year term at a competitive rate, a real advantage in today's rate environment.The Property:Three fully renovated units, all currently leased:Unit 1: 2BR/1BA, spacious layout, modern open-concept interiorUnit 2: 2BR/1BA, fully renovatedUnit 3: Efficiency with a well-equipped kitchenette, ideal for a single tenant or short-term renterTenants are on flexible month-to-month leases, which gives a buyer immediate cash flow and room to change course later. Ample on-site parking keeps the property easy to manage.Location:In the heart of Marathon, minutes from shops, restaurants, and everything the Middle Keys lifestyle offers.Who It's For:Investors building a rental portfolio, or an owner-occupant who wants to live in one unit and let the other two help cover the cost of ownership.Schedule your private showing today. Properties with documented building rights and owner financing don't come along often in Marathon.

Facts & features

Home type

Multi-Family Home

Year built

1959

Price per sq ft

$425

Included features

  • Cooling

    Wall/Window Unit(s), Ceiling Fan(s)

  • Appliances

    Washer, Microwave, Oven, Refrigerator, Dishwasher, Dryer

  • Sewer

    Public Sewer

Mortgage calculator

Estimated monthly payment

$5,939 /mo

7% rate · 30-yr fixed · 20% down

  • Principal & interest $4,780
  • Property tax $898
  • Insurance $262

Includes principal, interest, taxes & insurance.

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Listing Broker

Coldwell Banker Schmitt Islamorada

Broker Name

Coldwell Banker Schmitt Islamorada

Agent

Kristin Herold