10881 7th Ave, Marathon, FL 33050

Property Description

Duplex opportunity in the heart of Marathon with two legal addresses: 10881 7th Avenue Gulf and 10883 7th Avenue Gulf. This updated DUPLEX offers excellent flexibility for investors, owner occupants, or those looking to live in one unit and rent the other. The first floor residence features 3 bedrooms, 2.5 baths, a private entrance, its own patio area, separate laundry, and separate electric and water meters. It is currently rented for $3,700/month on a month to month basis, with the tenant open to a one year lease. The second floor unit offers 1 bedroom, 1 bath, its own private staircase and entrance, a dedicated outdoor sitting area, separate laundry, and separate utility meters. The upstairs unit is currently vacant and was most recently rented for $3,000/month, providing demonstrated combined rental potential of approximately $6,700/month or $80,400 annually. The property has been renovated and updated and offers exceptional parking for 5+ vehicles, with ample room for cars, boats, trailers and more. Adding even more value, approved plans convey with the sale for a substantial two-story garage and storage building at the rear of the property. The approved design includes approximately 2,768 sq. ft. of enclosed space, with a 1,440 sq. ft. shared garage on the first floor and additional dedicated and shared storage areas, two bathrooms, and mechanical space upstairs. A rare opportunity to combine strong rental income, separate living spaces, extensive parking, and future garage/storage potential, all offered at $1,200,000.