127 & 121 Monroe Dr. 1-3, Islamorada, FL
Listing courtesy of LoKation (Ewa Schwarz). Contact: [email protected].
About this property
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, and demand for quality rentals remains strong. With recent upgrades and easy access to the mainland, this combined offering is a great opportunity for investors, 1031 buyers, or owner-operators who want a flexible Keys property with income today and room for future build-out and long-term appreciation. Free access to Founders Park, with sandy beach, swimming pool, boat ramp, playground, tennis, pickleball, walking paths, sports fields, dog park and daily fun activities and regular events.
Property facts
- Year Built
- 1972
- Location
- Islamorada, FL 33070
- County
- Monroe County
- FEMA flood zone
- Zone AE, special flood hazard area
- Base flood elevation
- 8 ft (NGVD29)
- Ground elevation
- 3.2 ft
- Hurricane evacuation zone
- Not in a designated evacuation zone
Sources: FEMA National Flood Hazard Layer (panel 12087C1006K, effective 2005-02-18), USGS 3DEP, Florida Division of Emergency Management. Checked 2026-10-10. Public map data looked up at this location, not a survey or an insurance quote. Confirm with an elevation certificate, the county and your insurer.
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Interested in this property?
Contact Anthony Conners at Atlantic Commercial Advisors to schedule a showing or learn more.
Listing data courtesy of Miami REALTORS® / Southeast Florida MLS. This site is operated by Anthony Conners, Atlantic Commercial Advisors, KW Commercial. Atlantic Commercial Advisors is not the listing broker unless stated.
Listing data last updated Oct 1, 2026, 8:21 AM ET.
Listing data provided by the Southeast Florida Multiple Listing Service (MIAMI REALTORS®). The data is deemed reliable but is not guaranteed accurate by the MLS.
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