Tranquility Bay is a beautiful resort in Marathon, Florida. 87 Key West style townhouses, condos and a few time shares are situated on a tropically landscaped property with sandy beach, two pools, putting green, fitness center, beach front tiki bar and a gourmet restaurant. 2 bedroom and 3 bedroom units are available. 24 units are located directly on the Gulf of Mexico, about 16 of them are right in the sand, the other 8 are situated on Dolphin Lagoon (no dolphins, just the name!) The remaining units are located around one of the 2 pools or the putting green. Each home offers a view of the Gulf of Mexico.
Units 1-52 and 75-87 are fee simple owned townhomes. They are NOT condos. However, the land they sit on is a condo, so the Association is referred to as a Condo Association. For these units, the owner is responsible for their own insurance and maintenance of the unit.
The remaining units (53-74) are condos and are a Condo Association. The Association is responsible for the insurance and exterior maintenance.
There is also a Master Homeowner’s Association that is over both of the other Associations which handles all the common areas. Contact me for a copy of the HOA/Condo documents and budget.
FINANCING: Units are individually owned and can be rented short term (less than a week) through the resort. You are not able to live here full time, this is designated as a “condo hotel”. Because of this designation, financing options are limited. Typically, what you can expect is a 5/1 ARM and I would suggest a local bank: Lori Bailey at First State Bank or Mike Kiraly at Centennial Bank.
RENTALS: All units must be rented through the resort. Owners get 12 weeks of personal use per year. For more information about the rental program, please contact the resort at 305-289-0888.
PLEASE NOTE: The developer has the first right of refusal on all contracts. This means that he can buy the property from the seller at the price you negotiated. Once we put a property under contract, we have to request a waiver of his first right of refusal before we can close.
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumersâ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.
Tip: You can sort the list by Sold Date, Price, Bedrooms, etc.
- #9 – 2 bedroom $233,000 12/14/12 (Plus $15k for furnishings) My Sale! Foreclosure
- #52 – 2 bedroom $259,000 9/5/12 (My Sale!) Short Sale
- #77 – 3 bedroom beachfront $341,000 8/16/12 Foreclosure (My Sale!)
- #86 – 3 bedroom Gulf front (lagoon) $315,000 6/22/12 Short Sale
- #51 – 2 bedroom – $240,000 unfurnished 6/12/12 Foreclosure
- #18 – 3 bedroom – $350,000 6/8/12
- #79 – 3 bedroom direct Gulf front – $350,000 5/17/12 Short Sale
- #40 – 2 bedroom Beachfront – $340,000 4/2/12 (my sale!) Short Sale
- #74 – 3 bedroom handicapped unit (220 sq. ft. more than a regular 3 bedroom), – $385,000 3/30/12
- #47 – 2 bedroom – $259,900 2/16/12 Foreclosure
- #20 – 3 bedroom – $285,000 1/25/12 (my listing and my sale!) Short Sale
- #84 – Direct Gulf front 3 bedroom – $375,000 11/30/11 Short Sale
- #11 – 2 bedroom – $260,000 – 9/8/11 Foreclosure
- #23 – 3 bedroom – $312,500 – 6/2/11
- #43 – 2 bedroom beachfront – $362,500 – 5/13/11 (my listing and my sale!) Short Sale
- #46 – 2 bedroom – $265,000 5/13/11 (my listing and my sale!) Short Sale