1501 Truman Avenue, Key West, FL 33040

$3,750,000
Property Type: Commercial Sale Bedrooms: 4 Baths: 4 Square Footage: 2,214 Lot Size (sq. ft.): 4,364 Status: Active
Current Price: $3,750,000 List Date: 10/07/2026 Last Modified: 10/07/2026

Description

Exceptional Key West Investment Opportunity with 3 Transient Licenses. The property consists of four private one bedrooms, one bath units, each featuring its own kitchen, living area, bedroom, and full bathroom. Most importantly, three of the four units benefit from transient rental licenses allowing nightly rentals, an increasingly rare and valuable asset in the Key West market. The fourth unit is currently rented monthly. Guests enjoy a shared private courtyard with a swimming pool, creating an inviting tropical setting and a desirable amenity for vacation renters. The property also offers three parking spaces, an added convenience in Key West. Renovated in 2018, the units blend classic Key West character with modern updates. Features include Dade County pine, engineered wood flooring, granite countertops, updated kitchen cabinetry and appliances, along with updated plumbing and electrical systems. Each unit is designed to operate independently, making the property well suited for continued use as an income producing investment.

More Information MLS# 621522

Contract Information

Current Price: $3,750,000 Listing Date: 2026-10-06 Listing Board: Key West Association List Price: $3,750,000 Limited Representation: No As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No Species List: No

Location Tax Legal

Street #: 1501 Street Name: Truman Street Suffix: Avenue Key/Island: Key West State/Province: FL Zip Code: 33040 Subdivision: The Meadows (1.0) County: Monroe Area: 01 - Key West

General Property Description

Realtor.COM Type: Commercial Style: Commercial Lot Size: 49 X 88 Lot SqFt: 4364 Waterfront: No # Parking Spaces: 3 Off Street Parking: 3 # Stories: 2 Total # Buildings: 1 Building SqFt: 2214 SqFt Source: Property Data Card Living Apx SqFt: 2214 Total Units: 4 Year Built: 1928 Total Bedrooms: 4 Full Baths: 4 Total Baths: 4

Status Change Info

Status: Active

License Info

# of City License: 4 # of County License: 4 # of Transient Licns: 3

Association Info

Mandatory Home Owners Asc: No 1st Right of Refusal: No

Property Info

# Kitchens: 4 # Refrigerators: 4 # Range/Ovens: 4 # Washers: 1 # Dryers: 1 1 Bed/Bath: 4

Auction Info

Auction: No

Financial Status

Bank Owned: No Potential Short Sale: No

Property Features

Deed Restrictions: No Type: Other Comrcl Style Waterfront: None Waterview: No Waterview Dockage: None Vehicle Storage: Guest Parking; Off Street Parking Cooling: Wall/Window Unit(s) Utilities: FKAA Interior Features: Furnished; Smoke Alarms Appliances: Dryer; Refrigerator; Washer Miscellaneous: Pool Construction: Frame Electric: Other Electric Shutters: Other Floor: Combo; Laminate; Tile Roof: Metal Roof Land Size: Less Than 1/4 Acre Fee Includes: None Title: Negotiable Property Rights: Multi-Use/Commercial
Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty
Last Updated: October - 07 - 2026
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