3729 Paula Avenue, Key West, FL 33040

$680,000
Property Type: Residential Bedrooms: 3 Baths: 2 Square Footage: 1,359 Lot Size (sq. ft.): 5,500 Status: Closed
Current Price: $680,000 List Date: 11/07/2025 Last Modified: 4/27/2026

Description

Unlock the potential of this prime property located in the highly sought-after New Town Key West. Situated on a spacious 5,500 sq ft lot, this single-level home offers over 1,300 sq ft of air-conditioned living space, including three bedrooms and a versatile sunroom that can serve as a fourth bedroom. With ample room for an in-ground pool, a full bath, and a half guest bath, this property is perfect for maximizing rental income or creating a luxurious retreat. Built in 1963, the home features durable concrete construction and timeless mid-century modern design, ensuring long-term value and appeal. The large covered parking area accommodates multiple vehicles, making it ideal for tenants or guests, and can double as an entertainment space. This property is zoned for both monthly and long-term rentals, offering investors a lucrative opportunity in one of Florida's most desirable destinations. Whether you're looking to add a turnkey rental to your portfolio or undertake a full renovation to increase value, this property provides unmatched flexibility. As a short sale, this is a rare chance to acquire a valuable asset at a competitive price. Listed at $695,000, all offers are subject to lender approval. Don't miss out on this incredible investment opportunity in Key West—submit your offer today!

More Information MLS# 617224

Contract Information

Current Price: $680,000 Listing Date: 2025-11-07 Listing Board: Key West Association Sold Price: $680,000 Potential Short Sale: Yes Bank Owned: No

Location Tax Legal

Street #: 3729 Street Name: Paula Street Suffix: Avenue Key/Island: Key West State/Province: FL Zip Code: 33040 County: Monroe Subdivision: Pearlman Est (4.0) Area: 04 - Key West

General Property Description

Realtor.COM Type: Residential - Single Family Style: Single Family Waterfront: No Pool: No Year Built: 1963 Lot SqFt: 5500 Acres: 0.13 Living Apx SqFt: 1359 SqFt Source: Tax Records Total Bedrooms: 3 Full Baths: 1 Half Baths: 1 Total Baths: 2 Rentals Allowed: Yes Min Rental Days: 28

Status Change Info

Under Contract Date: 2025-12-30 Sold Date: 2026-04-24 Sold Price: $680,000 Status: Closed

Association Info

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

Building Style

Above Flood: Yes Stories: 1 Story

Vehicle Storage

Car(s): 2

Financial Status

Bank Owned: No Potential Short Sale: Yes Standard Sale: No

Property Features

Fee Includes: None Tax Exemptions: None Waterfront: None Waterview: No Waterview Dockage: None Property Condition: Fixer Upper Vehicle Storage: Carport; Covered Parking; Off Street Parking Furnished: Unfurnished Cooling: Wall/Window Unit(s) Heating: None Utilities: Elect Separate Meter; FKAA; Municipal Sewer; Water Separate Meter Interior Features: Other Appliances: Dishwasher; Microwave; Oven; Refrigerator; Washer Exterior Features: Fencing Construction: Concrete Pets: Pets Allowed Land Size: Less Than 1/4 Acre Terms: Cash; Conventional; No Seller Finance; VA Title: Title Ins - Seller
Listing Office: Realty ONE Group Destination
Last Updated: April - 27 - 2026
Broker Attribution: rogdestination@gmail.com

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