127 & 121 Monroe Dr. 1-3, Islamorada FL 33070

Discover a rare waterfront investment opportunity in the heart of Plantation Key at Vacation Village-AMD (89). This Residential Income property includes a CBS triplex and the adjacent multifamily lot, offering immediate rental income with exceptional potential for future development.
Built in 1972, the attached triplex features 2,409 square feet on a 7,500 square foot lot with three comfortable rental units: two one-bedroom, one-bath units and one two-bedroom, two-bath unit. Each residence includes a full kitchen and bath, while Units 1 and 3 have been renovated with updated interiors that appeal to quality tenants. Interior stairs, abundant parking, and inviting outdoor living areas add to the property’s appeal.
The canal-front setting offers an 81 to 120-foot-wide canal, ocean access, and a dock with upgraded electric service and a dedicated meter installed in 2025. The neighboring parcel at 121 Monroe Drive is approximately 7,500 square feet and ready for development. Add additional units, a pool, covered parking with storage, or expanded outdoor amenities to create a private compound and increase rental revenue.
Located in Monroe County at 24.9961 N latitude, this Islamorada property combines a relaxed Keys lifestyle with convenient mainland access. Enjoy warm, sunny weather, beautiful beaches, boating, fishing, and free access to Founders Park with its sandy beach, pool, boat ramp, playground, tennis, pickleball, walking paths, sports fields, dog park, and regular events. Miami is also within reach for major airports, dining, shopping, nightlife, and entertainment.
Cooling includes ceiling fans and wall or window units, with heat strips for heating. Contact us today at +1 786.468.4380 (Tel/WhatsApp) to learn more about 127 & 121 Monroe Dr. 1-3, Islamorada FL 33070.