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Waterfront · Condominium
$2,900,000$1,306 / sqft
251 Crandon Blvd # 806, Key Biscayne FL 33149
Listed
2
Bedrooms
3
Bathrooms
2,220 sqft
Interior
1979
Year built
$2,452 / mo
HOA
Condominium
Type
About this home
Rare opportunity to own the only northeast-facing slope residence currently available for sale at Oceansound in Key Colony! This spacious 2-bedroom residence with a den/flexible interior space offers approximately 2,200 sq. ft. and the potential to reconfigure the layout to accommodate an additional bedroom. One of the property's most impressive features is its two expansive balconies, including an oversized slope balcony, offering over 500 sq. ft. of private outdoor living space—perfect for relaxing, entertaining, and enjoying breathtaking panoramic views of the Atlantic Ocean, Biscayne Bay, and the Brickell skyline. Another exceptional feature is the approximately 130 sq. ft. of additional covered storage space within the unit, a rare convenience not available in other residences. The property also includes two assigned parking spaces, further enhancing its appeal. Meticulously maintained, the residence features impact windows in the living areas and bedrooms. The building has fully funded reserves, with no special assessments currently anticipated. Key Colony offers resort-style amenities, including 12 tennis courts, an Olympic-size pool, a children's playground, and direct beach access. A truly unique opportunity combining generous interior space, over 500 sq. ft. of private balconies, rare in-unit storage, spectacular views, and two assigned parking spaces in one of Key Biscayne's most desirable communities. Easy to show!
Features
- Lobby
- Split Bedroom
- Walk-In Closet(s)
- Den/Library/Office
- Ocean View
- Skyline
Leasing
Run the numbers
We fill in the price and the building's HOA dues. That leaves tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Rent starts from what comparable units are asking nearby. Vacancy and the loan terms below start at common defaults; change them.
Median asking rent for 2-bed rentals in Key Biscayne, from 78 active listings; the middle half ask $6,200–$10,000.That is what landlords ask, not what units let for — edit it if you know better.
Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management
Cap rate
Cash-on-cash
Monthly cash flow
Net operating income
Enter property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.
Illustration only — not a loan offer, quote, or investment advice. We are not a lender and neither offer nor arrange financing. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.
Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.