Key West, FL 33040

$2,300,000
Property Type: Commercial Sale Bedrooms: 8 Baths: 4 Lot Size (sq. ft.): 2,109 Status: Active
Current Price: $2,300,000 List Date: 7/29/2024 Last Modified: 8/01/2025

Description

Development Opportunity. (4) townhouse unit complex situated on a heavily landscaped 10,000 sq ft parcel. Comprised of (2) side by side duplexes legally subdivided as ( 4 ) individual, 750 sq ft (under air) licensed units, with (4) separate legal descriptions, parcel numbers, insurance policies, & utilities meters. At one time, there were four individual loans on each of the units as well. **** The only common area is the roof over each duplex, the shared wall between the units and walkways between, and on either side of each of the (2) duplexes. **** Each unit has its own laundry room addition directly off the kitchens with separate exterior screen doors - - (4) pairs of new washers & dryers. Current below market rents for each 2 bedroom, 1 bathroom unit runs between $2,225 to $2,900 with the lower rents soon to be increased. ***** Always operated as a successful rental property, the units were never sold off, which is definitely the Highest and Best use of the complex. Added value would be to install a lap pool/ patio area in the 100' wide back yard as a common use amenity. 2nd option - would be to provide a private pool area for each of the rear (2) units, giving each one half of the large rear yard, greatly increasing their sale value. Mature landscaping that has been well maintained surrounds the property and separates the units. Other valuable amenities are the over sized covered front porches with high open beamed ceilings offering additional square footage - and - valuable on site parking for 10 cars. The property has been continually well maintained - painted, new air conditioners & water heaters replaced when needed and blinds & curtain rods on all windows. All roof screws were replaced & new ones added to code standards. ***** Under ''Documents Tab'', see the survey with legal descriptions for each unit, floor & site plan & aerial photo. (4) Windstorm, Flood, Fire & Liability policies in place. Call for additional information. Realtor owned

More Information MLS# 610922

Contract Information

Current Price: $2,300,000 Listing Date: 2024-07-28 Listing Board: Key West Association List Price: $2,300,000 Limited Representation: No As is Rght to Inspct: Yes For Sale/Lease: For Sale Potential Short Sale: No Bank Owned: No

Location Tax Legal

Key/Island: Key West State/Province: FL Zip Code: 33040 Subdivision: Key West Realty Cos Sub (3.0) County: Monroe Area: 03 - Key West

General Property Description

Realtor.COM Type: Commercial Style: Commercial Lot Size: 100 x 100 Lot SqFt: 2109 Waterfront: No # Parking Spaces: 10 Off Street Parking: yes # Stories: 1 Total # Buildings: 2 Building SqFt: 3000 SqFt Source: Seller Total Units: 4 Year Built: 1963 Total Bedrooms: 8 Full Baths: 4 Total Baths: 4

Status Change Info

Status: Active

License Info

# of City License: 4 # of County License: 4

Association Info

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

Financial Status

Bank Owned: No Potential Short Sale: No

Property Features

Deed Restrictions: No Type: Apartment 3 or more Waterfront: None Waterview: No Waterview Dockage: None Utilities: FKAA; Municipal Sewer Appliances: Dryer; Range; Washer Construction: CBS Land Size: 1/4 - 1/2 Acre Fee Includes: None
Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty
Last Updated: August - 01 - 2025
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.