$2,095,000
$405K PRICE DROP

Estimated payment $12,516/month

Total Views 6,636
8 Beds
4 Baths
3,383 Sq Ft
$619 Price per Sq Ft

About This Home

BIG TIME INVESTMENT OPPORTUNITY in the heart of the Historic District of Key West. Originally built as a former church, this 4 unit active rental property offers 3,383 square feet of living space, featuring 8 bedrooms and 4 bathrooms, and currently generates $10,908.50 in monthly rental income. (See below for a breakdown of beds and baths per unit) With versatile possibilities, it has the potential for improvement and the possibility of condominium conversion. Each unit is large and spacious by Key West standards and includes high ceilings. The building is of concrete block construction and currently had all concrete spalling issues resolved and painted. Off street parking for three cars, a rarity for Old Town, Key West. This property is located in one of the most desirable neighborhoods and is just a short walk to World famous Duval street, the island's best restaurants, shopping and more! Unit breakdown: (A) 3BD/1BA leased for $3,039.50 per month (B) STUDIO/1BA leased for $2,369 per month (C) 2BD/1BA leased for $2,700 per month (D) 2BD/1BA leased for $2,800 per month

Listing Agent

Team Kaufelt

Truman & Co. (KW) License #00000 Listed on: 10/14/2024

Map

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,207

Year Built

1959

Lot Details

0

Listing Details

  • Property Type: Residential
  • Style: Multi-Units
  • First Right of Refusal: No
  • Mandatory HOA: No
  • Document Count: 3
  • Fee Includes: None
  • Financial Status Bank Owned: No
  • Key Island: Key West
  • K W Neighborhood: Old Town-N of Truman
  • Limited Representation: No
  • Marathon Neighborhood: N/A
  • Mile Marker: 1.00
  • M L S Identifier: 20060123165453488875000000
  • Off Shore Island: No
  • Pets W Restrictions: YES
  • Property Group I D: 19990816212109142258000000
  • Side: Median
  • State Province: FL
  • Taxes: 13206.78
  • Title: Negotiable
  • Vehicle Storage: Off Street Parking
  • Vehicle Storage Cars: 3
  • Year Built: 1959
  • Alternate Key Number: 1021601
  • Cooling Heating: Wall/Window Unit(s), Ceiling Fans(s)
  • Lot Sq Ft: 5737.00
  • Porch Balcony: Deck, Patio
  • License Info: Non Trans Rntl Lic
  • Tax Exemptions: None
  • Building Style Above Flood: Unknown
  • Estimated Living Sq Ft: 3383.00
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 4.00
  • Full Bathrooms: 4
  • Appliances: Washer, Microwave, Oven, Refrigerator, Dryer
  • Floor: Tile
  • Windows/Doors: French Doors, Other Windows/Doors
  • Total Bedrooms: 8

Exterior Features

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

Utilities

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

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: X
  • Parcel Number: 00020860-000000
  • Land Size: Less Than 1/4 Acre
  • Acres: 0.13

Rental Info

  • Rentals Allowed: With Restrictions

Tax Info

  • Tax Year: 2023

Multi Family

  • Total Units: 4.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





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 $13,207 $1,772,270 $1,247,287 $524,983
2023 $13,207 $1,758,016 $1,246,312 $511,704
2022 $11,231 $1,331,570 $830,875 $500,695
2021 $10,400 $1,071,288 $613,404 $457,884
2020 $9,189 $858,961 $597,801 $261,160
2019 $8,970 $827,745 $580,247 $247,498
2018 $9,790 $904,445 $653,387 $251,058
2017 $9,597 $904,480 $0 $0
2016 $9,101 $768,981 $0 $0
2015 $10,388 $873,002 $0 $0
2014 $7,724 $603,280 $0 $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/17/2025 06/17/25 Price Changed $2,095,000 -8.9% $619 / Sq Ft
02/11/2025 02/11/25 Price Changed $2,300,000 -8.0% $680 / Sq Ft
10/14/2024 10/14/24 For Sale $2,500,000 -- $739 / Sq Ft
Source: Key West Association of REALTORS®

Purchase History

Date Type Sale Price Title Company
Warranty Deed $1,042,500 Chicago Title Insurance Co
Quit Claim Deed $636,200 --
Warranty Deed $104,285 --
Warranty Deed $140,000 --
Warranty Deed $91,800 --
Deed $181,200 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Closed $842,500 Seller Take Back
Previous Owner $340,000 Commercial
Source: Public Records

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Source: Key West Association of REALTORS®

MLS Number: 611809

Key West Association of REALTORS®

APN: 00020860-000000