About 231 E Shore Drive, Key West, Florida, 33040
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.
Pets Allowed : No Restrictions
Utilities : Sewer Available, Water Available
Water Source : Public
Sewer Source : Public Sewer
HOA :
AssociationFee : 1100
Parking Features: Attached Carport, Covered
2 Carport Spaces
Zoning: SR
Pool Features: In Ground
Cooling: Central Air, Ceiling Fan(s)
Heating : Central, Natural Gas, Other, Central Building
Construction Materials: CBS
Flooring : Other, Wood
LaundryFeatures : Laundry Closet, Inside
Pets Allowed : No Restrictions
Utilities : Sewer Available, Water Available
Water Source : Public
Sewer Source : Public Sewer
HOA :
AssociationFee : 1100
Parking Features: Attached Carport, Covered
2 Carport Spaces
Zoning: SR
Pool Features: In Ground
Cooling: Central Air, Ceiling Fan(s)
Heating : Central, Natural Gas, Other, Central Building
Construction Materials: CBS
Flooring : Other, Wood
LaundryFeatures : Laundry Closet, Inside

Street Address: 231 E Shore Drive
City: Key West
State: Florida
Postal Code: 33040
County: Monroe
Directions: Turn Oceanside onto E Shore Dr (SR-942) at Mile Marker 25. The destination is ahead on the left.

Property Information :
Listing Status: Active
Size: 6,514 Sqft
Lot Size: 3.34 Acres
MLS #: R11130582
Bedrooms: 5 bd
Bathrooms: 5.5 ba
Price: $32,000,000
Tax Amount: 19902.3
Construction Status: Built in 2025
Last Modified : Dec 10 2025 9:37PM

Courtesy of: Stephanie Muzzillo, Serhant (MLS# 276741938)
Source MLS: BEACHES