1028 Truman Ave Key West, FL 33040
Old Town NeighborhoodEstimated payment $13,503/month
Total Views
6,977
4
Beds
8
Baths
4,013
Sq Ft
$561
Price per Sq Ft
About This Home
Prime Mixed-Use Investment Opportunity in Key West!Built in 2021 to current building codes, this exceptional four-unit commercial and residential compound is a rare find in the heart of Key West. A perfect 1031 Exchange candidate, this versatile property includes two licensed townhouse residences and two licensed commercial units, offering excellent income potential and flexibility.The commercial building, positioned street-side, is a two-story frame structure with high visibility on Truman Avenue. The ground floor offers approximately 1,112 square feet of open commercial space, while the second floor spans approximately 800 square feet and features a 30-foot-wide balcony overlooking Truman Avenue. An ADA-compliant elevator provides easy access to the second floor. Both levels include fully ADA-compliant restrooms, nine-foot-high ceilings, recessed lighting, ceiling fans, central air conditioning, washer and dryer hookups, and are pre-wired and plumbed for refrigerators and sinks. At the rear of the property, the residential portion consists of a two-story, common-wall duplex, with each unit offering approximately 1,015 square feet of living space. Designed for comfort and style, each unit features two bedrooms and two and a half bathrooms, vaulted ceilings in the upstairs bedrooms, spacious island kitchens, tile flooring, and private shaded rear decks. The property is thoughtfully designed with a beautifully landscaped common courtyard that separates the commercial and residential buildings, enhancing privacy and curb appeal. This turnkey mixed-use property presents a rare opportunity to own a high-quality, income-producing asset in one of Key West's most desirable locations. Don't miss out on this exceptional investment! *Note: 3D Tour is only of the 2 residential units.*
Listing Agent
Truman & Co. (KW) Brokerage Phone: 305-395-2360 Listed on: 02/21/2025
Map
Property Details
Home Type
Multi-Family
Est. Annual Taxes
$15,198
Year Built
2021
Lot Details
0
Listing Details
- Property Type: Residential
- Style: Multi-Units
- As Is Right To Inspect: Yes
- First Right of Refusal: No
- Mandatory HOA: No
- Document Count: 5
- Fee Includes: None
- Financial Status Bank Owned: No
- Financial Status Potential Short Sale: No
- Key Island: Key West
- K W Neighborhood: Old Town-S of Truman
- Limited Representation: No
- Marathon Neighborhood: N/A
- Mile Marker: 1.00
- Min Rental Days: 30.00
- M L S Identifier: 20060123165453488875000000
- Pets: Pets Allowed
- Property Group I D: 19990816212109142258000000
- Side: Median
- State Province: FL
- Taxes: 15853.68
- Year Built: 2021
- Alternate Key Number: 1034045
- Building Style: Other Bldg Style
- Cooling Heating: Central Air, Ceiling Fans(s)
- Lot Sq Ft: 5000.00
- Porch Balcony: Open Porch/Balcony, Deck, Roof Top Deck
- License Info: Non Trans Rntl Lic
- License Info Number Of City License: 4
- Tax Exemptions: None
- Building Style Above Flood: Unknown
- Building Style Stories: 2 Stories
- Estimated Living Sq Ft: 4013.00
- Property Condition: New Construction
- Sewer Hook Up: Yes
- Statistical Purposes Only: No
- Attribution Contact: 305-395-2360
- Special Features: NewHome
- Property Sub Type: MultiFamily
- Stories: 2
Interior Features
- Interior Amenities: Cathedral Ceilings, Built-in Cabinets, Smoke Alarms
- Total Bathrooms: 8.00
- Full Bathrooms: 4
- Appliances: Dishwasher, Microwave, Oven, Range, Refrigerator
- Floor: Tile, Concrete
- Half Bathrooms: 4
- Windows/Doors: Glass Doors, Impact Rstnce Window, Impact Rstnce Doors, Sliding Glass Doors
- Total Bedrooms: 4
- Sq Ft Remarks: Buyer To Verify All Square Footage.
Exterior Features
- Dockage: None
- Waterfront: None
- Waterfront: No
- Construction: Frame, Stucco
- Exterior Features: Fencing, Lighting
- Roof: Metal Roof
- Waterview: No Waterview
- Pool: No
Utilities
- Utilities: FKAA, Water Separate Meter, Elect Separate Meter, Buyer to Verify, Sewer Available, Municipal Sewer
Lot Info
- Deed Restrictions: Unknown
- Flood Zone: X Flood Zone
- Parcel Number: 00033280-000000
- Lot Size: 50' x 100'
- Land Size: Less Than 1/4 Acre
- Acres: 0.11
Rental Info
- Rentals Allowed: With Restrictions
Tax Info
- Tax Year: 2024
Multi Family
- Total Units: 4.00
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $15,198 | $1,884,842 | $1,111,000 | $773,842 |
| 2023 | $15,198 | $1,887,747 | $1,111,000 | $776,747 |
| 2022 | $12,876 | $1,424,150 | $631,250 | $792,900 |
| 2021 | $12,748 | $1,332,721 | $580,750 | $751,971 |
| 2020 | $4,060 | $426,725 | $426,725 | $0 |
| 2019 | $4,519 | $475,963 | $475,963 | $0 |
| 2018 | $3,377 | $340,000 | $340,000 | $0 |
| 2017 | $3,433 | $340,000 | $0 | $0 |
| 2016 | $3,543 | $340,000 | $0 | $0 |
| 2015 | $3,959 | $367,266 | $0 | $0 |
| 2014 | $4,181 | $367,266 | $0 | $0 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/15/2025 07/15/25 | Price Changed | $2,250,000 | -9.8% | $561 / Sq Ft |
| 06/09/2025 06/09/25 | Price Changed | $2,495,000 | -3.9% | $622 / Sq Ft |
| 05/22/2025 05/22/25 | Price Changed | $2,595,000 | -7.2% | $647 / Sq Ft |
| 03/24/2025 03/24/25 | Price Changed | $2,795,000 | -6.7% | $696 / Sq Ft |
| 02/21/2025 02/21/25 | For Sale | $2,995,000 | +630.5% | $746 / Sq Ft |
| 02/01/2018 02/01/18 | Sold | $410,000 | -8.9% | -- |
| 01/23/2018 01/23/18 | Pending | -- | -- | -- |
| 12/05/2017 12/05/17 | For Sale | $450,000 | -- | -- |
Source: Key West Association of REALTORS®
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $410,000 | Attorney | |
| Warranty Deed | $410,000 | Attorney | |
| Warranty Deed | $307,500 | Attorney | |
| Warranty Deed | $290,000 | -- | |
| Warranty Deed | $290,000 | -- | |
| Warranty Deed | $38,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $265,000 | Purchase Money Mortgage |
Source: Public Records
Similar Homes in Key West, FL
Source: Key West Association of REALTORS®
MLS Number: 613823
APN: 00033280-000000
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