Rare waterfront multi-unit apartment building in the heart of Islamorada, walking distance to numerous businesses and restaurants. There are 2 2-bedroom apartments, 2 1-bedroom apartments, and 2 garages. Plenty of parking in the front and huge backyard overlooking a large boat basin.
Multi-familyProperty Type
1982Year Built
0.32 acresLot Size
$341Price/Sq.Ft.
1 car garageParking
Listed by AJ Vetter• Coastal Realty of the Florida Keys
Bought with AJ Vetter• Coastal Realty of the Florida Keys
Multi-Unit Property in the heart of Islamorada with waterfrontage! Beautiful bay views, huge shady back yard with tall palms and fruit trees. 2 2-bedroom apartments, 2 1-bedroom apartments, 2 garages. Residents can walk or bike to all the island's amenities. Investment opportunity. Details upon request.
Year
Property tax
Land + Additions
Assessment*
2025
$16,945 (+5.4%)
2024
$16,072 (+3.7%)
2023
$15,502 (+7.3%)
2022
$14,451 (+23.6%)
2021
$11,691 (+7.1%)
$443,352 + $366,979
$810,331
2020
$10,915 (+0.6%)
$443,352 + $283,119
$726,471
2019
$10,853 (+5.7%)
$443,352 + $283,119
$726,471
2018
$10,270 (+0.9%)
$367,080 + $293,744
$660,824
2017
$10,175 (+4.2%)
$367,080 + $343,419
$710,499
2016
$9,762 (+6.3%)
$309,012 + $283,230
$592,242
2015
$9,183 (+2.5%)
$309,012 + $283,230
$592,242
2014
$8,962
Tax history for 116 Madeira Rd
Year
Property tax
Land + Additions
Assessment*
2025
$16,945 (+5.4%)
2024
$16,072 (+3.7%)
2023
$15,502 (+7.3%)
2022
$14,451 (+23.6%)
2021
$11,691 (+7.1%)
$443,352 + $366,979
$810,331
2020
$10,915 (+0.6%)
$443,352 + $283,119
$726,471
2019
$10,853 (+5.7%)
$443,352 + $283,119
$726,471
2018
$10,270 (+0.9%)
$367,080 + $293,744
$660,824
2017
$10,175 (+4.2%)
$367,080 + $343,419
$710,499
2016
$9,762 (+6.3%)
$309,012 + $283,230
$592,242
2015
$9,183 (+2.5%)
$309,012 + $283,230
$592,242
2014
$8,962
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Permits
Beds
6
Baths
4
Stories
2
Lot width
—
Lot depth
—
Lot size
0.32 Acres
Year renovated
2012
Sq. Ft.
1,872
Year built
1982
Style
Multi-Family (2-4 Unit)
County
Monroe County
APN
2863 37 00399460000000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 10, 2026.
RE
Residential Estate District
The purpose of the residential estate RE zoning district is to identify existing residential estates, and vacant estate properties designated for residential uses; This zoning district is established within the Residential Low RL FLUM category.
Permitted uses
Include but are not limited to:
Housing-Single unit
Mar 11, 2021 • Final
Mechanical
HVAC
Feb 26, 2021 • Final
Building
Pool and hot tub
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Property details
Parking
Parking / Garage Information
Vehicle Storage: Garage, Off Street Parking, Guest Parking, Open Parking, Attached