NOT LISTED FOR SALE

1803 Atlantic Blvd Key West, FL 33040

Mid Town Neighborhood

Estimated Value: $2,165,000 - $2,755,000

13 Beds
12 Baths
6,480 Sq Ft
$380/Sq Ft Est. Value

Last Sold February 23, 2022

Last sale price $2,400,000 $370 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $14,381/month

102 Days on Market

Highlights

  • In Ground Pool
  • No HOA
  • Patio
  • Deck
  • Balcony
  • 1-minute walk to Key West Nature Preserve

About This Home

As of February 2022

Perfect 1031 Exchange! Priced to Sell!DO NOT MISS this 7 unit apartment complex that is centrally located steps to both Smathers and Higgs Beach and a 5 minutes bike ride to world Famous Duval st. The 3 building complex houses (1) 3bed/2bath, (4) 2bed/2 bath, and (2) 1bed/1bath, with one of the largest residential swimming pools in Key West. Interiors updated with marble countertops, tile floors, and recessed lighting. All master baths have Jacuzzi tubs. Each unit has individual laundry, utility meters and one assigned parking space. This will not last so call today! A pleasure to show, but 48 hour notice needed for inside Current cap rate 4.24% . Projected Cap Rate of 5.12% with simple rent increases. Huge ROI possible by converting to condominium. Gross Income of $192K with $51,244 insurances and $13,707 in taxes.

Last Agent to Sell the Property

Mike Kane

Internet Realty of the Florida Keys License #3422118 Listed on: 09/10/2021

Last Buyer's Agent

Silvestri Team Jeanette & Janessa Silves

Coldwell Banker Schmitt Key Largo License #3258182

Coldwell Banker Schmitt Key Largo

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,707

Year Built

  • Built in 1975 | Remodeled

Lot Details

  • 9,250

Parking

  • Assigned Parking

Home Design

  • 6,480 Sq Ft Home
  • Metal Roof

Bedrooms and Bathrooms

  • 13 Bedrooms
  • 12 Full Bathrooms

Outdoor Features

  • In Ground Pool
  • Balcony
  • Deck
  • Patio

Utilities

  • Central Air
  • Public Hookup Available For Sewer

Additional Features

  • Washer
  • 9,250 Sq Ft Lot

Listing and Financial Details

  • Homestead Exemption
  • Assessor Parcel Number 00062200-000000

Community Details

Overview

  • No Home Owners Association
  • New Town Unlisted Subdivision
  • Rental Restrictions

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,707

Year Built

Built in 1975 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential
  • Style: Multi-Units
  • Additional Assessor Parcel Number 1: 1062618
  • First Right of Refusal: No
  • Mandatory HOA: No
  • Document Count: 1
  • Fee Includes: Other
  • Key Island: Key West
  • K W Neighborhood: Midtown West
  • Limited Representation: No
  • Marathon Neighborhood: N/A
  • Mile Marker: 2.00
  • M L S Identifier: 20060123165453488875000000
  • Pets: Pets Allowed
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Cash
  • Side: Ocean
  • State Province: FL
  • Taxes: 13707.17
  • Vehicle Storage: Assigned Parking
  • Year Built: 1975
  • Alternate Key Number: 1062600
  • Cooling Heating: Central Air
  • Lot Sq Ft: 9250.00
  • Pool Info: In Ground
  • Porch Balcony: Deck, Patio, Open Porch/Balcony
  • Tax Exemptions: Homestead
  • Building Style Above Flood: Unknown
  • Estimated Living Sq Ft: 6480.00
  • Property Condition: Updated/Remodeled
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 12.00
  • Full Bathrooms: 12
  • Appliances: Refrigerator, Washer
  • Total Bedrooms: 13
  • Sq Ft Remarks: buyer to verify

Exterior Features

  • Dockage: None
  • Waterfront: None
  • Waterfront: No
  • Construction: CBS
  • Roof: Metal Roof
  • Waterview: No Waterview
  • Pool: Yes

Utilities

  • Utilities: Buyer to Verify, FKAA

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: AE,AE
  • Parcel Number: 00062200-000000
  • Land Size: 1/4 - 1/2 Acre
  • Acres: 0.11

Rental Info

  • Rentals Allowed: With Restrictions

Tax Info

  • Tax Year: 2020

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 10, 2021
Closed on
Feb 23, 2022
Sold by
Olin Robert W
Bought by
1803-1805 Atlantic Llc
Seller's Agent
Mike Kane
Internet Realty of the Florida Keys
Buyer's Agent
Silvestri Team Jeanette & Janessa Silves
Coldwell Banker Schmitt Key Largo
List Price
$2,995,000
Sold Price
$2,400,000
Premium/Discount to List
-$595,000
-19.87%
Current Estimated Value
$2,460,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$60,000
Avg. Annual Appreciation
-3.08%

Purchase Details

Closed on
Mar 15, 2004
Sold by
Ladd Richard C
Bought by
Olin Robert W

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$520,000
Interest Rate
5.25%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 20, 2002
Sold by
Antonio Hernandez M and Antonio Lupe Hernandez
Bought by
Ruiz Manuel and Uiz Christina

Purchase Details

Closed on
Aug 28, 2001
Sold by
Antonio Hernandez M and Antonio Lupe Hernandez
Bought by
Ladd Richard C

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$297,228
Interest Rate
7.18%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 23, 1999
Sold by
Gaffney Timothy
Bought by
Timothy J Gaffney Revocable Trust

Purchase Details

Closed on
Feb 1, 1971
Bought by
Olin Robert W
Source: Public Records

Range of Values:

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Average Value
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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
1803-1805 Atlantic Llc $2,400,000 Oropeza Stones Cardenas Pllc
Olin Robert W $800,000 --
Ruiz Manuel $14,000 --
Ladd Richard C $375,000 --
Ladd Richard C $525,000 --
Timothy J Gaffney Revocable Trust $100 --
Olin Robert W $4,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 1803-1805 Atlantic Llc $1,500,000
Previous Owner Olin Robert W $1,115,000
Previous Owner Olin Robert W $520,000
Previous Owner Timothy J Gaffney Revocable Trust $297,228
Previous Owner Timothy J Gaffney Revocable Trust $300,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/23/2022 02/23/22 Sold $2,400,000 -19.9% $370 / Sq Ft
12/21/2021 12/21/21 Pending -- -- --
09/10/2021 09/10/21 For Sale $2,995,000 -- $462 / 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 $9,535 $985,280 $343,804 $641,476
2023 $9,535 $972,888 $346,801 $626,087
2022 $6,891 $780,099 $0 $0
2021 $6,484 $634,532 $0 $0
2020 $6,014 $632,406 $0 $0
2019 $5,790 $602,503 $0 $0
2018 $5,971 $612,317 $0 $0
2017 $6,001 $605,649 $0 $0
2016 $6,166 $591,791 $0 $0
2015 $6,122 $573,430 $0 $0
2014 $6,035 $540,460 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Mike Kane

    Seller's Agent in 2022

    Mike Kane

    Internet Realty of the Florida Keys

    (703) 962-0720

    4 in this area

    33 Total Sales

    Mike Kane
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Map

Source: Florida Keys Board of REALTORS®

MLS Number: 597772

Florida Keys Board of REALTORS®

APN: 00062200-000000

Florida Monroe County Key West 33040 Mid Town

1803 Atlantic Blvd, Key West, FL

This home is located at 1803 Atlantic Blvd, Key West, FL 33040 since 10 September 2021 and is currently estimated at $2,460,000, approximately $379 per square foot. This property was built in 1975. 1803 Atlantic Blvd 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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