1224 2nd Street, Key West, FL 33040

Key West
Local realty services provided by:Better Homes and Gardens Real Estate Destinations
1224 2nd Street,Key West, FL 33040
$1,700,000
  • 8 Beds
  • 5 Baths
  • 3,000 sq. ft.
  • Multi-family
  • Active
Listed by: jenna stauffer
Office: ocean sotheby's international realty
MLS#:621893
Source:FL_FKBOR

Price summary

  • Price:$1,700,000
  • Price per sq. ft.:$566.67

About this home

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...

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Home facts

  • Year built:1950
  • Subdivision & Development:Sunshine Sub Plat 3 (3.0)
  • Listing ID #:621893
  • Added:5 day(s) ago
  • Updated:November 07, 2026 at 04:10 PM

Rooms and interior

  • Bedrooms:8
  • Total bathrooms:5
  • Living area:3,000 sq. ft.

Structure and exterior

  • Year built:1950
  • Building area:3,000 sq. ft.
  • Lot area:0.16 Acres
  • Construction Materials:Combo Construction

Finances and disclosures

  • Price:$1,700,000
  • Price per sq. ft.:$566.67
  • Tax amount:$10,119

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