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$3,595,000
Key West, FL 33040
MLS# 601346
Status: Closed
4 beds | 4 baths | 2214 sqft
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Property Description
This is a fantastic investment opportunity in the sought-after and quiet neighborhood The Meadows in Key West. With a gross income close to $800,000.00 generated in the last 2 years, this property has proven to be a reliable source of revenue. The real draw is the 3 transient licenses which allow for daily and nightly rentals, making it a prime location in one of the most desirable destination in the country. The shared indoor courtyard with a swimming pool adds to the appeal for guests. The property is a multiplex with 4 units each boasting a kitchen, living room, bedroom and bathroom. The 4th unit is rented at 3k a month on a yearly lease and the income is included in the total revenue. Recently renovated in 2018, the units feature dade county pine, engineered wood flooring, granite countertops, new kitchen cabinets, new appliances, new plumbing and new electrical making it move in ready for guests. Contact us today to schedule a viewing and take the first step towards owning a piece of paradise.
Details
Maps
Documents
Contract Information
Current Price: $3,595,000
Listing Date: 2022-06-09
Listing Board: Key West Association
Sold Price: $3,595,000
As is Rght to Inspct: Yes
Location, Tax & Legal
Street #: 1501
Street Name: Truman
Street Suffix: Avenue
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Off Shore Island: No
County: Monroe
Subdivision: The Meadows (1.0)
Mile Marker: 1
Area: 01 - Key West
KW Neighborhood: Old Town-N of Truman
Marathon Neighborhood: N/A
Side: Bay/Gulf
Flood Zone: AE
Alternate Key #: 1025046
Parcel #: 00024250-000000
Zoning: HMDR - Historic Medium Density Residential
Deed Restrictions: Unknown
Legal: KW BENJ ALBURYS SUBD DIAGRAM I-389 PT LOTS 8-9 SQR 3 TR 7 E1-128 OR662-774 OR703-83/84 OR959-993/94 OR1006-283/84 OR1038
Taxes: 9098.53
Tax Year: 2021
Pub Sewer HkUp: Yes
General Property Description
Realtor.COM Type: Multi-family
Style: Multi-Units
Waterfront: No
Pool: Yes
Year Built: 1928
Lot SqFt: 4364
Acres: 0.1
Living Apx SqFt: 2214
SqFt Source: Property Data Card
Total Bedrooms: 4
Full Baths: 4
Total Baths: 4
Rentals Allowed: Yes
Remarks & Misc
Remarks – Consumer: This is a fantastic investment opportunity in the sought-after and quiet neighborhood The Meadows in Key West. With a gross income close to $800,000.00 generated in the last 2 years, this property has proven to be a reliable source of revenue. The real draw is the 3
transient licenses which allow for daily and nightly rentals, making it a prime location in one of the most desirable destination in the country. The shared indoor courtyard with a swimming pool adds to the appeal for guests.
The property is a multiplex with 4 units each boasting a kitchen, living room, bedroom and bathroom. The 4th unit is rented at 3k a month on a yearly lease and the income is included in the total revenue.
Recently renovated in 2018, the units feature dade county pine, engineered wood flooring, granite countertops, new kitchen cabinets, new appliances, new plumbing and new electrical making it move in ready for guests.
Contact us today to schedule a viewing and take the first step towards owning a piece of paradise.
Status Change Info
Sold Date: 2023-06-12
Sold Price: $3,595,000
Sold Comments: THANK YOU
Status: Closed
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
License Info
# of City License: 3
Transient Rntl Licns: Yes
Building Style
Above Flood: Unknown
Vehicle Storage
Car(s): 2
Property Features
Fee Includes: None
Tax Exemptions: None
Waterfront: None
Waterview: No Waterview
Dockage: None
Property Condition: Updated/Remodeled
Building Style: A-Frame; Other Bldg Style
Vehicle Storage: Assigned Parking
Furnished: Negotiable
Cooling: Wall/Window Unit(s)
Porch/Balcony: Deck; Open Porch/Balcony
Utilities: FKAA
Interior Features: Dade County Pine; Granite Counter Top
Appliances: Dishwasher; Dryer; Microwave; Oven; Refrigerator; Stainless Steel Appliance(s); Washer
Pool Info: In Ground
Construction: Frame; Other
Pets: Other See Remarks
Land Size: Less Than 1/4 Acre
P&L 2021 
Listing Office: Key West Luxury Real Estate Inc (KW)
Last Updated: June - 13 - 2023
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