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Address Not Published

Key West, FL 33040
  • $2,300,000
  • STATUS: Active
  • ON SITE: 71 Days
  • MLS #: 610922
$2,300,000
  • 8
    BEDS
  • 0.05
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 3,000
    SQFT
  • $767
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1963
County:

School Ratings & Info

Description

Development Opportunity. (4) townhouse unit complex situated on a heavily landscaped 10,000 sq ft parcel. Comprised of (2) side by side duplexes legally subdivided as ( 4 ) individual, 750 sq ft (under air) licensed units, with (4) separate legal descriptions, parcel numbers, insurance policies, & utilities meters. At one time, there were four individual loans on each of the units as well.**** The only common area is the roof over each duplex, the shared wall between the units and walkways between, and on either side of each of the (2) duplexes. **** Each unit has its own laundry room addition directly off the kitchens with separate exterior screen doors - - (4) pairs of new washers & dryers. Current below market rents for each 2 bedroom, 1 bathroom unit runs between $2,225 to $2,900 with the lower rents soon to be increased.***** Always operated as a successful rental property, the units were never sold off, which is definitely the Highest and Best use of the complex. Added value would be to install a lap pool/ patio area in the 100' wide back yard as a common use amenity. 2nd option - would be to provide a private pool area for each of the rear (2) units, giving each one half of the large rear yard, greatly increasing their sale value. Mature landscaping that has been well maintained surrounds the property and separates the units. Other valuable amenities are the over sized covered front porches with high open beamed ceilings offering additional square footage - and - valuable on site parking for 10 cars. The property has been continually well maintained - painted, new air conditioners & water heaters replaced when needed and blinds & curtain rods on all windows. All roof screws were replaced & new ones added to code standards. ***** Under ''Documents Tab'', see the survey with legal descriptions for each unit, floor & site plan & aerial photo. (4) Windstorm, Flood, Fire & Liability policies in place. Call for additional information. Realtor owned

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The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Florida Keys MLS, Inc. Real estate listings held by brokerage firms other than Key West Luxury Real Estate Inc are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.
www.keywestluxuryrealestateinc.com/homes/153048967
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Address Not Published Key West, FL 33040

  • Price: $2,300,000
  • Status: Active
  • On Site: 71 Days
  • MLS #: 610922
8
Beds
4
Baths
0
½ Baths
0.05
Acres
3,000
SQFT
$767
$/SQFT
1963
Built
Neighborhood:
New Town
County:
Monroe
Area:
03 - Key West
Property Description
Development Opportunity. (4) townhouse unit complex situated on a heavily landscaped 10,000 sq ft parcel. Comprised of (2) side by side duplexes legally subdivided as ( 4 ) individual, 750 sq ft (under air) licensed units, with (4) separate legal descriptions, parcel numbers, insurance policies, & utilities meters. At one time, there were four individual loans on each of the units as well.**** The only common area is the roof over each duplex, the shared wall between the units and walkways between, and on either side of each of the (2) duplexes. **** Each unit has its own laundry room addition directly off the kitchens with separate exterior screen doors - - (4) pairs of new washers & dryers. Current below market rents for each 2 bedroom, 1 bathroom unit runs between $2,225 to $2,900 with the lower rents soon to be increased.***** Always operated as a successful rental property, the units were never sold off, which is definitely the Highest and Best use of the complex. Added value would be to install a lap pool/ patio area in the 100' wide back yard as a common use amenity. 2nd option - would be to provide a private pool area for each of the rear (2) units, giving each one half of the large rear yard, greatly increasing their sale value. Mature landscaping that has been well maintained surrounds the property and separates the units. Other valuable amenities are the over sized covered front porches with high open beamed ceilings offering additional square footage - and - valuable on site parking for 10 cars. The property has been continually well maintained - painted, new air conditioners & water heaters replaced when needed and blinds & curtain rods on all windows. All roof screws were replaced & new ones added to code standards. ***** Under ''Documents Tab'', see the survey with legal descriptions for each unit, floor & site plan & aerial photo. (4) Windstorm, Flood, Fire & Liability policies in place. Call for additional information. Realtor owned
Exterior Features

Construction CBS Dockage None Land Size 1/4 - 1/2 Acre Lot Size 100 x 100 Off Street Parking yes Parking Spaces 10 Side N/A Style Commercial Waterfront None Waterfront YN No Waterview No Waterview

Interior Features

Appliances RangeDryerWasher

Property Features

Assoc Hoa YN No Assoc Right Of Refusal No Bank Owned No Bank Owned Financial Status No Commercial Type Apartment 3 or more Control Depth 0 Deed Restrictions No Fee Includes None Flood Zone AE Key West Neighborhood New Town Legal KW KW REALTY CO'S FIRST SUB PB1-43 PT LOT 11 SQR 13 TR 21 A/K/A UNIT 3 & 1/4 INT IN PARCEL 6 & 1/2 INT IN PARCEL 7 OR27- Listing Board Key West Association Mile Marker 3.00 Potential Short Sale No Potential Short Sale Financial Status No Property Type Commercial Sq Ft Source Seller Tax Year 2023 Taxes 14760.00 Total Units 4.00 Utilities FKAAMunicipal Sewer Zoning MDR-1 - Medium Desnity Residential

Listing courtesy of Raymond Capas of Berkshire Hathaway Knight & Gardner: .


The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Florida Keys MLS, Inc. Real estate listings held by brokerage firms other than Key West Luxury Real Estate Inc are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.
 
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Key West Luxury Real Estate Inc
619 Eaton Street, #2
Key West FL, 33040