1224 2nd Street, Key West, FL 33040
1224 2nd Street, Key West, FL 33040
1224 2nd Street, Key West, FL 33040
1224 2nd Street, Key West, FL 33040
1224 2nd Street, Key West, FL 33040
1224 2nd Street, Key West, FL 33040
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Ernesto Portuondo

Ernesto Portuondo

+1(305) 336-8874
$ 1,700,000
Est. payment | /mo

4 Beds

4 Baths

3,000 SqFt

Save
$ 1,700,000
Est. payment | /mo
Save

4 Beds

4 Baths

3,000 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-family

Listing Status Active

Purchase Type For Sale

Square Footage 3,000 sqft

Price per Sqft $566

Subdivision Sunshine Sub Plat 3 (3.0)

MLS Listing ID 619703

Style Multi-Units

Bedrooms 4

Full Baths 4

Construction Status Combo Construction

HOA Y/N No

Rental Info With Restrictions

Year Built 1950

Annual Tax Amount $10,119

Tax Year 2025

Lot Size 6,969 Sqft

Acres 0.16

Property Sub-Type Multi-family

Property Description

Strong value-add multi-family fourplex investment opportunity with major improvements already completed.The heavy lifting has been done, including a new roof, brand-new windows, and updated concrete throughout, setting the stage for the next owner to bring the project to completion.Once finished and delivered furnished, the property has the potential to generate over $200,000 in annual income across all four units.Additional upside includes the option to condo-convert, with projected rental income of approximately $6,000/month for the lower units and $7,000/month for the upper.An ideal opportunity for an investor looking to step into a project with reduced risk, immediate upside, and strong income potential.A rare chance to step in, complete the project, and capture the upside of a fully optimized, income-producing asset.

Location

State FL

County Monroe

Community New Town

Area 03 - Key West

Zoning MDR-1 - Medium Desnity Residential

Interior

Appliance Oven

Exterior

Utilities Available Buyer to Verify

Waterfront Description None

View No Waterview

Roof Type Metal Roof

Private Pool No

Building

Sewer Yes

Construction Status Combo Construction

Others

SqFt Source Property Data Card

Pets Allowed Pets Allowed

Listed by Ocean Sotheby's International Realty

Nearby Locations

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1224 2nd Street