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About This Home
This 4-bedroom, 4-bathroom residential multi family at 1224 2nd Street in Key West, FL is listed for $1,700,000 ($567 per sqft). Built in 1950, the home offers 3,000 sqft of living space on a 0.16 acres lot.
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.
Key Features
- Built in 1950
- 0.16 acre lot
Property Details
Amenities
Monthly Cost Estimate
$9,092/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1224 2nd Street
Key West, FL 33040
Sunshine Sub Plat 3 (3.0)
Property Details
Construction
Views
Appliances
Questions & Answers
This 4-bedroom, 4-bathroom residential multi family at 1224 2nd Street is listed at $1,700,000 ($567/sqft). The estimated monthly payment is $7,367 based on 20% down at 6.5% interest.
Key features include: Built in 1950, 0.16 acre lot.
This property is listed by Jenna Stauffer and can be reached at 2604332319 or jstauffer@oceansir.com.
