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For Sale
231 E Shore Drive
231 E Shore Drive
231 E Shore Drive
231 E Shore Drive
231 E Shore Drive
231 E Shore Drive
231 E Shore Drive

231 E Shore Drive

231 E Shore Drive, Key West, FL 33040

$32,000,000

  • 5 BEDS
  • 5 FULL BATHS
  • 1 HALF BATH
  • 6,514 Sq.Ft.

Property Description

Introducing Seven Palms Cove, a rare new construction oceanfront community in the Florida Keys that combines luxury living with unmatched investment potential. With only seven residences available--each spanning over 4,000 sq. ft. with 5 bedrooms, 5.5 baths, private infinity pools, rooftop decks, and assigned dockage--this gated enclave offers turn-key short-term rental flexibility. Unlike most communities in the Keys, there are no rental restrictions, making it possible to operate each home as a high-yield Airbnb or combine all seven into a boutique hospitality portfolio complete with shared resort-style amenities: a private boat basin, sport courts, pickleball, hammocks, and paddleboard launches. For the investor, the opportunity doesn't end there. Just across the street lies an additional 8-acre ROGO-exempt parcel, with approximately 5 acres of usable land and three existing income-producing cottages generating projected revenues of $300,000 annually. This parcel provides immediate returns while offering endless expansion optionswhether adding more cottages, building a yoga retreat, event venue, or further short-term rental inventory.
With the ability to control all seven luxury homes plus the adjacent parcel, an investor could curate an exclusive, resort-style Airbnb village or private hotel collection in one of the most desirable boating and vacation destinations in the U.S. The combination of brand-new construction, no rental limitations, resort amenities, and future development land presents a one-of-a-kind portfolio play with both short-term income and long-term appreciation upside.

Overview

Property Type
Residential
Location
231 E Shore Drive, Key West, FL 33040
Zoning
SR
MLS ID
R11130582
Listing Last Updated

Property Features & Amenities

Interior

Total Bedrooms
5
Full Bathrooms
5
Half Bathrooms
1
Flooring
Other, Wood
Appliances
Dryer, Dishwasher, Disposal, Microwave, Refrigerator, Washer
Other Interior Features
Built-in Features, Dual Sinks, Entrance Foyer, Elevator, Pantry, Tub Shower, Upper Level Primary, Walk-In Closet(s)

Exterior

Stories
2
Water Source
Public
Utilites
Sewer Available, Water Available
Pool
In Ground
Roof
Metal
Lot Features
2-3 Acres
Parking
Attached Carport, Covered
Heat Type
Central, Natural Gas, Other
Air Conditioning
Central Air, Ceiling Fan(s)
Sewer
Public Sewer
Amenities
Bike Storage, Boating, Elevator(s), Pickleball
Security Features
Gated Community, Smoke Detector(s)
Other Exterior Features
Balcony, Outdoor Living Area

Details

Total Area
6,514 Sq.Ft.
Architecture Styles
Other
Water Frontage
Ocean Access
View Description
Ocean

Financial

Price
$32,000,000
Real Estate Tax
$19,902/yr
HOA
$1,100/mo

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(551) 427-9492

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