Description
Strong value-add multifamily fourplex investment opportunity with major capital improvements already completed. The property offers four two-bedroom residences totaling approximately 3,000 square feet, with each unit comprising approximately 750 square feet. The lower level includes two residences, while the upper level features two additional residences with approximately 960 square feet of combined balcony space. Major improvements include a new standing-seam metal roof, new impact-resistant windows and doors throughout, and completed concrete, stucco, and exterior work. The property is ready for the next owner to complete the remaining work and execute their preferred investment strategy. Once completed and delivered furnished, the property is projected to have the potential to generate more than $200,000 in annual gross rental income across all four units. Additional potential may include condominium conversion, subject to all applicable approvals and requirements. A compelling opportunity to complete, stabilize, and maximize a well-positioned Key West income-producing asset.
Details
| MLS # | 619703 |
|---|---|
| Listing Type | For Sale |
| Style | Duplex |
| Sub-Type | Resale |
| Status | Active |
| Year | 1950 |
| Days On Site | 115 |
| Listing Provided By | Ocean Sotheby's International Realty | Jenna Stauffer |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 3,000 |
| Zoning | MDR-1 - Medium Desnity Residenti |
| Acreage | 0.16 |
| Water Front | None |
| Property View | No Waterview |
Taxes
| Property | 10119 |
|---|
Area Information
| State | FL |
|---|---|
| County | Monroe |
| City | KEY WEST |
| Zip Code | 33040 |
| Area | 03 Key West |
| Community Name | Sunshine Sub Plat 3 (3.0) |
| Listing VS Median (in Sunshine Sub Plat 3 (3.0)) | |
Price: $1,700,000 low | high Med: $1,300,000 sqft: 3,000 low | high Med: 2,957 $ / sqft: $567 low | high Med: $440 On site: 115 low | high Med: 185 | |
Market Activity 33040
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The data relating to real estate for sale on this web site come s in part from the Internet Data Exchange program of the Marathon and Lower Keys Association of REALTORS®, Inc. MLS. Real Estate listings held by brokerage firms other than Key Colony Beach Realty, Inc. are marked with the MLS logo and detailed information about them includes the name of the listing broker’s office.
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Learn More About This Property
| State | FL |
|---|---|
| County | Monroe |
| City | KEY WEST |
| Zip Code | 33040 |
| Area | 03 Key West |
| Community Name | Sunshine Sub Plat 3 (3.0) |
| Listing VS Median (in Sunshine Sub Plat 3 (3.0)) | |
Price: $1,700,000 low | high Med: $1,300,000 sqft: 3,000 low | high Med: 2,957 $ / sqft: $567 low | high Med: $440 On site: 115 low | high Med: 185 | |
 | $1,300,0002016 Roosevelt DriveKey West, FL 33040 |
The data relating to real estate for sale on this web site come s in part from the Internet Data Exchange program of the Marathon and Lower Keys Association of REALTORS®, Inc. MLS. Real Estate listings held by brokerage firms other than Key Colony Beach Realty are marked with the MLS logo and detailed information about them includes the name of the listing broker’s office.
