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Condo For Sale
550 1st St 112
Cedar Key, Florida 32625
Levy CountyWaterfront:
Yes Water View: YesCommunity: The Island Place at Cedar Key
$289,000
1 br, 1.0 bath
560 sq. ft.
0.000 acres
Perched along the shimmering shoreline of Cedar Key, this gulf-front condominium delivers what discerning coastal buyers seek but rarely find: unobstructed, panoramic water views paired with true walkability to the heart of town. From morning light dancing across the Gulf to painted sunset skies, every moment on Cedar Key is framed by open water and the easy rhythm of island living. Positioned in what many consider the premier location on the island, this residence places you just steps from local dining, shopping, and the vibrant waterfront--yet feels worlds away with its elevated vantage point and sweeping views of birds and water. A dedicated parking space and golf-cart-friendly access ensure effortless movement from your front door to everything Cedar Key has to offer. Thoughtfully elevated for peace of mind, the property is undergoing a comprehensive restoration scheduled for completion in August 2026. The result will be essentially new construction within an established, high-demand complex: fresh drywall, a fully redesigned kitchen with granite counters, new appliances, updated flooring, modern paint finishes, and a reimagined bath--all complemented by curated, high-quality coastal furnishings. A new HVAC system and in-unit washer and dryer add practical comfort to the refined aesthet?ic. If you hurry, you can select colors and other options! Beyond the residence, the community itself is being revitalized, highlighted by what is widely regarded as the best pool in town--set gulf-side for uninterrupted water views--and surrounded by refreshed landscaping that enhances both privacy and curb appeal. For investors, the opportunity is equally compelling: a proven, high-performing rental property with no usage restrictions, offering immediate income potential upon completion. A superior ROI means years of a high producing unit in your portfolio. For end users, it's a turnkey coastal retreat or full-time residence where every detail has been addressed. Island Place 112 is a fully reimagined gulf-front condominium in one of Florida's most authentic waterfront communitiese imagine the possibilities! Pictures indicate current condition as well as some pictures from prior to Sept 2024 to show how it can look when completed. Buyer may be able to select colors and options, depending on timing.
Interior:
- Bedrooms: 1
- Baths: 1.0
- Sq Ft: 560
- Year Built: 1982
- Utilities:
- Fireplaces: Has Fireplace
- Stories:
- Heat/AC: Central, Electric (Heating), Fireplace(s)
- Garage: Other
Exterior:
- Lot Size: 0.000 acre
- Lot Dimensions:
- Waterfront: Yes
- View Types: Other, Water
- Yard:
- Siding: HardiPlank Type
- Roof: Metal
- Property Taxes: $2,340
- Swimming Pool: Yes
- MLS #: 799134
- Unit Number: 112
Contact Information:
Listing Agent: Melinda Allen, Pelican Realty, 352-222-8585, 352-543-5581
Listing Site, Listing Status: Active
Copyright © 2026 Dixie-Gilchrist-Levy Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Copyright © 2026 Dixie-Gilchrist-Levy Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ad Number: 7649863
Viewed 14 times.
Updated: Apr 30, 2026

