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.
Key Features
- Built in 1950
- 0.16 acre lot
Property Details
Amenities
Strong value-add multifamily fourplex investment opportunity with major capital improvements already completed. The property offers four two-bedroom residences totaling approximately 3,000 square feet, with each unit comprising approximately 750 square feet.
The lower level includes two residences, while the upper level features two additional residences with approximately 960 square feet of combined balcony space. Major improvements include a new standing-seam metal roof, new impact-resistant windows and doors throughout, and completed concrete, stucco, and exterior work.
The property is ready for the next owner to complete the remaining work and execute their preferred investment strategy. Once completed and delivered furnished, the property is projected to have the potential to generate more than $200,000 in annual gross rental income across all four units. Additional potential may include condominium conversion, subject to all applicable approvals and requirements. A compelling opportunity to complete, stabilize, and maximize a well-positioned Key West income-producing asset.
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 $9,092 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1950, 0.16 acre lot.
This property is listed by Jenna Stauffer and can be reached at 2604332319.