NOT LISTED FOR SALE

1128 Packer St Key West, FL 33040

Old Town Neighborhood

Estimated Value: $2,146,870 - $3,919,000

8 Beds
4 Baths
3,144 Sq Ft
$881/Sq Ft Est. Value

Last Sold July 07, 2021

Last sale price $1,650,000 $525 Per Sq Ft

Est. 68% increase in value since last sale

Current estimated payment $15,760/month

50 Days on Market

Highlights

  • Fruit Trees
  • Balcony
  • Tile Flooring
  • No HOA
  • Storage
  • Outdoor Storage

About This Home

As of July 2021

Investor Alert! Great opportunity to own a well maintained 4 unit building in Old Town with Off Street Parking, plenty of backyard for a pool or entertaining friends and family. Property is also located in the X Flood Zone providing low flood insurance costs! All 4 units are 2 Bedrooms/1 Baths, have open floor plans with lots of windows allowing for plenty of natural light. Current rental income is below market, available upon request and can likely be increased.The 2-story building sits on a 5,000 sq. ft. lot in the heart of Old Town and has 3,100 sq. ft. of total living space. Located only a few blocks to Duval Street, the beaches, wonderful restaurants and many more of Key West attractions! Seller is motivated and says bring offers! 24 Hour notice required to show.

Last Agent to Sell the Property

John Spottswood

Truman & Co. (KW) Brokerage Phone: 305-395-2360 License #3264225 Listed on: 03/08/2021

Co-Listed By

Terri Spottswood

Truman & Co. (KW) Brokerage Phone: 305-395-2360 License #161619

Last Buyer's Agent

Bobby Coe

RE/MAX Keys Connection (KW) License #3428120

RE/MAX Keys Connection (KW)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,203

Year Built

  • Built in 1933

Lot Details

  • 5,000 Sq Ft Lot
  • Privacy Fence
  • Fenced
  • Fruit Trees

Home Design

  • Frame Construction
  • Metal Roof

Interior Spaces

  • 3,144 Sq Ft Home
  • Ceiling Fan
  • Single Hung Windows
  • Storage
  • Tile Flooring

Kitchen

  • Range
  • Built-In or Custom Kitchen Cabinets

Bedrooms and Bathrooms

  • 8 Bedrooms
  • Split Bedroom Floorplan
  • 4 Full Bathrooms

Parking

  • 2 Parking Spaces
  • Off-Street Parking

Outdoor Features

  • Balcony
  • Outdoor Storage

Utilities

  • Cooling System Mounted To A Wall/Window
  • Separate Meters
  • Public Hookup Available For Sewer

Listing and Financial Details

  • Minimum Rental Period: 28
  • Assessor Parcel Number 00031470-000000

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • Gg Watson Sub Subdivision

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,203

Year Built

Built in 1933

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
  • Fee Includes: None
  • Financial Status Bank Owned: 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: 28.00
  • M L S Identifier: 20060123165453488875000000
  • Off Shore Island: No
  • Pets: Pets Allowed
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Conventional
  • Side: Median
  • State Province: FL
  • Taxes: 9203.00
  • Title: Negotiable
  • Vehicle Storage: Off Street Parking
  • Vehicle Storage Cars: 2
  • Year Built: 1933
  • Alternate Key Number: 1032255
  • Cooling Heating: Ceiling Fans(s), Wall/Window Unit(s)
  • Lot Sq Ft: 5000.00
  • Porch Balcony: Open Porch/Balcony
  • Tax Exemptions: None
  • Building Style Above Flood: Unknown
  • Building Style Stories: 2 Stories
  • Estimated Living Sq Ft: 3144.00
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Attribution Contact: 305-395-2360
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Interior Amenities: Built-in Cabinets, Split Bedroom, Storage
  • Total Bathrooms: 4.00
  • Full Bathrooms: 4
  • Appliances: Range, Refrigerator
  • Floor: Tile
  • Windows/Doors: Single Hung Windows
  • Total Bedrooms: 8
  • Sq Ft Remarks: Buyer To Verify Square Footage

Exterior Features

  • Dockage: None
  • Waterfront: None
  • Waterfront: No
  • Construction: Frame
  • Exterior Features: Fencing, Storage, Privacy Wall/Fence, Fruit Tree(s)
  • Roof: Metal Roof
  • Waterview: No Waterview
  • Pool: No

Utilities

  • Utilities: Buyer to Verify, Municipal Sewer, FKAA, Elect Separate Meter

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: 0.2 PCT ANNUAL CHANC
  • Parcel Number: 00031470-000000
  • Land Size: Less Than 1/4 Acre
  • Acres: 0.11

Rental Info

  • Rentals Allowed: Yes
  • Furnished: Unfurnished

Tax Info

  • Tax Year: 2019

Multi Family

  • Total Units: 4.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 8, 2021
Closed on
Jul 7, 2021
Sold by
Sheldon Frank Lee
Bought by
Kw Plumbago
Seller's Agent
John Spottswood
Truman & Co. (KW)
Buyer's Agent
Bobby Coe
RE/MAX Keys Connection (KW)
List Price
$1,999,900
Sold Price
$1,650,000
Premium/Discount to List
-$349,900
-17.5%
Current Estimated Value
$2,770,218

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,120,218
Avg. Annual Appreciation
13.10%
Original Mortgage
$1,320,000
Outstanding Balance
$1,199,155
Interest Rate
2.98%
Estimated Equity
$1,571,063

Purchase Details

Closed on
Oct 21, 1998
Bought by
Sheldon Frank Lee

Purchase Details

Closed on
Feb 1, 1993
Bought by
Sheldon Frank Lee

Purchase Details

Closed on
Dec 1, 1989
Bought by
Sheldon Frank Lee

Purchase Details

Closed on
Dec 1, 1987
Bought by
Sheldon Frank Lee

Purchase Details

Closed on
Oct 1, 1977
Bought by
Sheldon Frank Lee
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Kw Plumbago $1,650,000 None Available
Plumbago Kw Llc $1,650,000 Condella Debbie
Sheldon Frank Lee -- --
Sheldon Frank Lee $100,000 --
Sheldon Frank Lee $145,000 --
Sheldon Frank Lee $100,000 --
Sheldon Frank Lee $52,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Plumbago Kw Llc $1,320,000
Closed Plumbago Kw Llc $1,320,000
Previous Owner Sheldon Frank L $975,000
Previous Owner Sheldon Frank Lee $350,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/07/2021 07/07/21 Sold $1,650,000 -8.3% $525 / Sq Ft
04/27/2021 04/27/21 Pending -- -- --
04/14/2021 04/14/21 Price Changed $1,799,000 -1.4% $572 / Sq Ft
03/18/2021 03/18/21 Price Changed $1,825,000 -8.7% $580 / Sq Ft
03/08/2021 03/08/21 For Sale $1,999,900 -- $636 / Sq Ft
Source: Florida Keys Board of REALTORS®

Tax History Compared to Growth

Source: Public Records

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 $13,561 $1,628,814 $749,063 $879,751
2023 $13,561 $1,398,507 $530,625 $867,882
2022 $12,825 $1,337,409 $457,500 $879,909
2021 $9,062 $839,477 $379,688 $459,789
2020 $9,204 $860,684 $395,625 $465,059
2019 $9,366 $872,684 $397,100 $475,584
2018 $9,163 $834,859 $348,750 $486,109
2017 $8,921 $793,664 $0 $0
2016 $10,348 $930,860 $0 $0
2015 $9,894 $868,360 $0 $0
2014 $9,241 $732,196 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • John Spottswood

    Seller's Agent in 2021

    John Spottswood

    Truman & Co. (KW)

    (305) 395-2360

    115 in this area

    334 Total Sales

    John Spottswood
    Section Image
  • Terri Spottswood

    Seller Co-Listing Agent in 2021

    Terri Spottswood

    Truman & Co. (KW)

    (305) 587-3407

    117 in this area

    333 Total Sales

    Terri Spottswood
    Section Image
  • Bobby Coe

    Buyer's Agent in 2021

    Bobby Coe

    RE/MAX

    (305) 363-9665

    41 in this area

    130 Total Sales

    Bobby Coe
    Section Image

  • B

    Buyer's Agent in 2021

    Bobby Coe IV

    Coastal Collection Real Estate Inc.

See All Agents

Map

Source: Florida Keys Board of REALTORS®

MLS Number: 595069

Florida Keys Board of REALTORS®

APN: 00031470-000000

Florida Monroe County Key West 33040 Old Town

1128 Packer St, Key West, FL

This home is located at 1128 Packer St, Key West, FL 33040 since 08 March 2021 and is currently estimated at $2,770,218, approximately $881 per square foot. This property was built in 1933. 1128 Packer St is a home located in Monroe County with nearby schools including Horace O'Bryant School, Key West High School, and May Sands Montessori School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Florida Keys Board of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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