# 1224 2nd Street, Key West, FL 33040

> **TL;DR:** 4bd/4ba residential multi family, $1,700,000 ($567/sqft), built 1950, 3,000 sqft.
> View. Est. $7,367/mo. Listed 31 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $1,700,000 |
| Price/sqft | $567 |
| Bedrooms | 4 |
| Bathrooms | 4 full |
| Square Feet | 3,000 |
| Year Built | 1950 |
| Lot Size | 6,970 sqft (0.16 acres) |
| Property Type | Residential Multi Family (Other) |
| Status | For Sale |
| Days on Market | 31 |

## Why This Home Stands Out

- **Views** - Water

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $7,367 |
| **Total** | **$7,367** |

## Key Amenities

- View

## Property Highlights

- Built in 1950
- 0.16 acre lot

## Description

### Agent 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

- **Address:** 1224 2nd Street, Key West, FL 33040
- **County:** Monroe
- **Neighborhood:** Sunshine Sub Plat 3 (3.0)
- **Coordinates:** 24.558677, -81.781611
- **Google Maps:** https://www.google.com/maps?q=24.558677,-81.781611

## Listing Agent

- **Name:** Jenna Stauffer
- **Brokerage:** Ocean Sotheby's International Realty
- **Phone:** 2604332319
- **Email:** jstauffer@oceansir.com

## Primary Photo

![1224 2nd Street - Primary Photo](http://lh.rdcpix.com/ad3b63edc7bd8ebd26b794cef167f2b4l-f697381484r.jpg)

*19 total photos available on [listing page](https://www.propertysimple.com/listing/1224-2nd-street-key-west-fl-33040-l619703)*

---

**MLS#:** 619703 | **Updated:** 2026-06-18
**Source:** listhub

*Copyright © 2026 Key West Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/1224-2nd-street-key-west-fl-33040-l619703)

---

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