BEDS4
BATHS4 full
SQUARE FEET3,000
MLS#619703
STATUSActive
PROPERTY TYPEResidential - Multiple
SUBDIVISIONSunshine Sub Plat 3 (30)
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.
Property Features
Property Type: Residential - Multiple
Home Style: Other Bldg Style
Lot Size: 0.16 Acres
Roof Type: Metal Roof
Taxes: $10,119
Year Built: 1950
Feature Descriptions
Appliances: Oven
Building Above Flood: Unknown
Days on Site: 48
Dockage: None
Exterior: Combo Construction
Flood Zone: AE
HOA (1st Right of Refusal) Y/N: No
HOA (Mandatory) Y/N: No
Key/Island: Key West
Key West Neighborhood: New Town
Listing Board: Key West Association
Lot Dimensions: 0.16Acre(s)
Parcel #: 00051450-000000
Pets: Pets Allowed
Sewer Hookup: Yes
Tax exemptions: None
Utilities: Buyer to Verify
Waterfront: None
Waterview: No Waterview
Zoning: MDR-1 - Medium Desnity Residential
Listed By / Shown By
Listed By
Agency Name: Ocean Sotheby's International Realty
Agency Phone: (305) 294-1117
Shown By
Agency Title: Adams Cameron & Co. REALTORS
Agency Phone: 386-717-3445
Estimate Your Payment
Estimated Payment
$ 10,387.20 per month $9,048.11 Principal & Interest $843.25 Property Tax $495.83 Homeowner's Insurance
1224 2nd Street | MLS# 619703
This home located at 1224 2nd Street, Key West, FL 33040 is currently listed for sale with an asking price of $1,700,000. This property was built in 1950 and has 4 bedrooms and 4 full baths with 3000 sq. ft. 2nd Street is located in the Sunshine Sub Plat 3 (30) subdivision. Search Sunshine Sub Plat 3 (30) real estate on www.adamscameron.com today.