Key Largo Condos

Verified Building Facts

• Building Name: Key Largo
• Address: 11 54th Street, Ocean City, MD 21842
• Location Type: Ocean block
• Location Type: Mid-Town Ocean City
• Year Built: 2006
• Building Type: Mid-rise
• Number of Units: 9
• Elevator Access: Yes
• Short Term Rentals: Yes

These facts are provided for informational purposes and should be independently verified during the purchase process.

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About Key Largo

Key Largo is a 5-story mid-rise condominium building at 11 54th Street in Mid-Town Ocean City. Built in 2006, the property contains 9 units and has a limited overall amenity profile, with elevator access and private parking. The building is located on the ocean block and sits approximately 1 mile from the Convention Center, with nearby attractions and restaurants including the Ocean City Convention Center, Macky’s Bayside Bar & Grill, Alley Oops, and Bad Monkey.

The unit mix is limited and centered on 5-bedroom residences, which shapes how the building is typically considered by buyers and owners. Rentals are permitted, and short-term rentals are allowed, although the lack of amenities can affect rentability. At the same time, the size of the residences is a meaningful part of the building’s profile, and the property often fits second-home buyers, owners intending occasional rentals only, buyers seeking low-maintenance ownership, and households looking for a walkable location near dining and attractions.

Amenities at Key Largo

Key Largo offers a focused set of essential on-site amenities in its ocean block setting in Mid-Town Ocean City.

Amenities include:

• Private parking

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Floor Plans and Unit Types

Key Largo has a more streamlined selection of floor plans focused on a specific unit style.

Common unit types include:

• 5-Bedroom

Interior layouts, square footage, and finishes vary by unit, floor level, and ownership.

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Grant’s Local Insight on Key Largo

Key Largo is the sister building to St. Kitts and shares the same design, developer, and overall philosophy. I was also the listing agent here, which gives me a very clear picture of how these residences were intended to live.

Like St. Kitts, Key Largo offers some of the largest condo floorplans in Ocean City, including five-bedroom layouts that are incredibly hard to find elsewhere. These are true “bring everyone” beach homes.

What I’ve seen over time is that owners here value space first. They want room for family, friends, and extended stays without feeling cramped. The layouts support that in a way many older buildings simply can’t. Much like my insights and awareness of the originally installed French-doors at St. Kitts (which ring true here as well), another important nuance that must be understood is how the 3rd floor oversized balcony (between the two condos) is divided or shared.

Key Largo works best for buyers who understand that size, design, and scarcity drive value here more than flash or amenities. When expectations are aligned, it’s a building people tend to hold onto.

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Who Key Largo Is Best Suited For

Key Largo is typically best suited for:

• Owners intending occasional rentals only
• Buyers looking for low-maintenance ownership
• Buyers who value walkable dining and attractions
• Owners hosting frequent guests
• Multi-generational households
• Second-home buyers

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Common Buyer Mistakes at Key Largo

Some of the most common mistakes buyers make when evaluating Key Largo include:

• Assuming nearby attractions operate year-round
• Underestimating traffic or seasonal congestion
• Not accounting for seasonal rental variability
• Assuming all units have identical interiors

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Rental and Investment Potential

Short-term rentals are permitted at Key Largo, and the building has moderate rental potential. Its profile may appeal to owners intending occasional rentals, particularly given the ocean block location in Mid-Town Ocean City and the limited supply of 5-bedroom residences in the area.

Key Largo’s rental use is shaped by a combination of factors, including its location, low building recognition, and limited amenity package. The lack of amenities can affect rentability, although the size of the units helps offset that to some degree. Buyers considering rental use should review how the building’s features, policies, and seasonal demand patterns align with their ownership plans.

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HOA Fees and Ownership Details

Homeowner association fees at Key Largo vary based on unit size and location. HOA fees generally contribute to building maintenance, amenity upkeep, insurance, management, and common area utilities.

Parking policies, pet rules, and rental guidelines should be reviewed during the contract process, as association policies may evolve over time.

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Key Largo Real Estate Market Trends

Key Largo tends to have low overall market activity, which is consistent with a smaller 9-unit mid-rise building with low name recognition. Buyer interest is generally shaped by its ocean block location in Mid-Town Ocean City, its low-maintenance ownership profile, and its appeal to second-home buyers and location-driven buyers.

Within the building, pricing differences are likely to be tied to the characteristics buyers compare most closely in a limited-inventory property, including unit condition, interior differences, and how well a specific residence matches the needs associated with a 5-bedroom layout. Because the floor plan mix is limited and the amenity package is restrained, buyers typically evaluate individual units with close attention to the residence itself as well as the building’s location and overall ownership profile.

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Key Largo vs Nearby Condos

Key Largo is naturally compared to St. Kitts first, since they share the same design DNA. It really comes down to availability and subtle positioning differences between the two. St. George offers a smaller, more boutique feel. Charleston brings a more unconventional layout and corner-lot orientation into the mix. Key Largo typically lands with buyers who prioritize square footage and a newer build over amenities. It’s about space and function, not flash.

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Buying or Selling a Key Largo Property

Last reviewed by Grant Fritschle

Grant Fritschle is a second-generation Ocean City, Maryland real estate professional with nearly three decades of experience specializing in oceanfront, waterfront, and investment properties throughout Ocean City, MD and Fenwick Island, DE. He is known for his deep local knowledge, data informed guidance, and long term client relationships built on transparency and trust.

Last reviewed: March 2026

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