34 Atlantic Drive, Key Largo, FL 33037 — MLS photo

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34 Atlantic Drive, Key Largo, FL 33037

Active · SingleFamilyResidence

$2,890,000

34 Atlantic Drive, Key Largo, FL 33037

Beds
5
Baths
4
Living area
— sq ft
$ / sq ft
—
Year built
1943
Lot size
—
HOA fee
—
Annual tax
$13,133

About this property

Huge Direct Oceanfront Compound — One-of-a-Kind with 276-Foot Concrete Dock Adjacent to World-Famous John Pennekamp, Coral Reef State Park & Molasses Reef. Discover a truly exceptional and private oceanfront compound designed for boating enthusiasts, investors, or multi-generational living. Spread across three expansive lots, this rare property includes two distinct homes and direct water access — a combination that’s nearly impossible to find in today’s market. Seller will consider all reasonable offers. The primary residence features 3 bedrooms and 2 full baths, offering bright, comfortable living spaces and sweeping ocean views. The second home, complete with 2 bedrooms and 2 baths on a separate meter, is ideal for guests, extended family, or short-term rental opportunities. Step outside to unparalleled oceanfront living with a 276-foot concrete dock, perfect for accommodating large vessels, fishing, and launching watercraft. The grounds offer generous room for entertaining, expansion, or simply enjoying the peaceful surroundings of this secluded coastal haven. Highlights: 3 lots with two homes and a 276-ft dock Direct ocean access — idea for boating on the Ocean or Bay. Steps from John Pennekamp Coral Reef State Park Perfect for entertaining, investing, or creating a family retreat Unmatched privacy and coastal lifestyle potential.

Property location

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34 Atlantic Drive, Key Largo, FL 33037

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Facts & features

Interior

Bedrooms
5
Bathrooms
4
Flooring
Tile
Appliances
Dryer, Dishwasher, Electric Range, Microwave, Refrigerator, Washer
Cooling
Central Air, Ceiling Fans
Heating
Central
Interior features
Built In Features, Bedroom On Main Level, Kitchen Island, Upper Level Primary

Exterior & Structure

Property type
SingleFamilyResidence
Year built
1943
Architectural style
Detached, Other, One Story
Roof
Metal
Construction
CBSConcrete Block Structure, Block
Exterior features
Balcony, Security High Impact Doors, Outdoor Grill
Pool
In Ground, Pool
Waterfront
Ocean Access, Ocean Front
View
Ocean

Parking

Garage spaces
2
Covered spaces
2
Parking features
Circular Driveway, Covered, Driveway, Guest, Rv Access Parking

HOA, Community & Financials

Annual tax
$13,133
Subdivision
Knowlson Colony
County
Monroe
Days on market
181
MLS listing ID
A12006854
Listing status
Active

Investment intelligence

Yield & ROI calculator

Pre-filled from this listing's price, HOA and tax record. Adjust anything to see returns update instantly.

Estimated monthly cash flow

-$2,175

Cap rate
4.8%
Net yield
4.8%
Cash-on-cash return
-3.2%
Gross yield
6.6%
Mortgage payment
$13,700/mo
Down payment
$722,500
Loan amount
$2,167,500
Annual NOI
$138,303

Estimates only — includes 5% maintenance reserve and ~3% closing costs in cash invested. Verify taxes, HOA and insurance before making an offer.