231 E Shore Dr, Key West, FL

$32,000,000

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5

Beds

6

Baths

4,103

Square feet

3.34

Acres

About 231 E Shore Dr

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.

Features of 231 E Shore Dr

MLS® # RX-11130582
Price $32,000,000
Bedrooms 5
Bathrooms 6.00
Full Baths 5
Half Baths 1
Square Footage 4,103
Acres 3.34
Year Built 2025
Type Residential
Sub-Type Single Family Detached
Style Other Arch
Status New

Community Information

Address 231 E Shore Dr
Area 5940
Subdivision SUMMERLAND ESTATES
City Key West
County Monroe
State FL
Zip Code 33040

Amenities

Amenities Bike Storage, Boating, Elevator, Pickleball, Street Lights
Utilities Public Sewer, Public Water
Parking Spaces 2
Parking Covered, Driveway, Carport - Attached
View Ocean
Is Waterfront Yes
Waterfront Ocean Access
Has Pool Yes
Pool Inground

Interior

Interior Features Built-in Shelves, Elevator, Foyer, Pantry, Walk-in Closet
Appliances Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Smoke Detector, Washer
Heating Central, Gas, Other, Central Building
Cooling Ceiling Fan, Central
Fireplace No
# of Stories 2
Stories 2.00

Exterior

Exterior Features Open Porch, Deck, Open Balcony
Lot Description 2 to < 3 Acres, 4 to < 5 Acres
Roof Metal
Construction CBS

Additional Information

Zoning SR
Foreclosure No
Short Sale No
RE / Bank Owned No
HOA Fees 1100
HOA Fees Freq. Monthly

Listing Details

OfficeSerhant

Listing Map

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