1501 Truman Avenue, Key West, FL 33040

New Listing

$3,750,000

1501 Truman Rear Unit Main Living Area 4

1501 Truman Rear Unit Living Room Alt (1

Property Type: Commercial Sale Bedrooms: 4 Baths: 4 Square Footage: 2,214 Lot Size (sq. ft.): 4,364 Status: Active

Current Price: $3,750,000 List Date: 10/07/2026 Last Modified: 10/07/2026

Overview

Description

Exceptional Key West Investment Opportunity with 3 Transient Licenses. The property consists of four private one bedrooms, one bath units, each featuring its own kitchen, living area, bedroom, and full bathroom. Most importantly, three of the four units benefit from transient rental licenses allowing nightly rentals, an increasingly rare and valuable asset in the Key West market. The fourth unit is currently rented monthly. Guests enjoy a shared private courtyard with a swimming pool, creating an inviting tropical setting and a desirable amenity for vacation renters. The property also offers three parking spaces, an added convenience in Key West. Renovated in 2018, the units blend classic Key West character with modern updates. Features include Dade County pine, engineered wood flooring, granite countertops, updated kitchen cabinetry and appliances, along with updated plumbing and electrical systems. Each unit is designed to operate independently, making the property well suited for co ... (Read more)

Listing Details MLS# 621522

Location, Tax & Legal

Street #: 1501
Street Name: Truman
Street Suffix: Avenue
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: The Meadows (1.0)
County: Monroe
Area: 01 - Key West
KW Neighborhood: Old Town-N of Truman
City: KEY WEST
Off Shore Island: No
Mile Marker: 1
Marathon Neighborhood: N/A
Side: Bay/Gulf
Flood Zone: AE
Alternate Key #: 1025046
Parcel #: 00024250-000000
Zoning: HMDR - Historic Medium Density Residential
Legal: KW BENJ ALBURYS SUBD DIAGRAM I-389 PT LOTS 8-9 SQR 3 TR 7 E1-128 OR662-774 OR703-83 OR959-993 OR1006-283 OR1038-721 OR12
Taxes: 21730.96
Tax Year: 2025

Contract Information

Listing Board: Key West Association
Limited Representation: No
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Species List: No

General Property Description

Realtor.COM Type: Commercial
Style: Commercial
Lot SqFt: 4364
Waterfront: No
# Parking Spaces: 3
Off Street Parking: 3
# Stories: 2
Total # Buildings: Yes
Building SqFt: 2214
SqFt Source: Property Data Card
Living Apx SqFt: 2214
Total Units: 4
Year Built: 1928
Total Bedrooms: 4
Full Baths: 4
Total Baths: 4
Control Depth: 0

License Info

# of City License: 4
# of County License: 4
# of Transient Licns: 3

Association Info

Mandatory Home Owners Asc: No
1st Right of Refusal: No

More Information

Property Info

# Kitchens: 4
# Refrigerators: 4
# Range/Ovens: 4
# Washers: Yes
# Dryers: Yes
1 Bed/Bath: 4

Auction Info

Auction: No

Financial Status

Bank Owned: No
Potential Short Sale: No

Remarks & Misc

Remarks – Consumer: Exceptional Key West Investment Opportunity with 3 Transient Licenses. The property consists of four private one bedrooms, one bath units, each featuring its own kitchen, living area, bedroom, and full bathroom. Most importantly, three of the four units benefit from transient rental licenses allowing nightly rentals, an increasingly rare and valuable asset in the Key West market. The fourth unit is currently rented monthly. Guests enjoy a shared private courtyard with a swimming pool, creating an inviting tropical setting and a desirable amenity for vacation renters. The property also offers three parking spaces, an added convenience in Key West. Renovated in 2018, the units blend classic Key West character with modern updates. Features include Dade County pine, engineered wood flooring, granite countertops, updated kitchen cabinetry and appliances, along with updated plumbing and electrical systems. Each unit is designed to operate independently, making the property well suited for continued use as an income producing investment.

Deed Restrictions

No: Yes

Type

Other Comrcl Style: Yes

Fee Includes

None: Yes

Dockage

None: Yes

Appliances

Dryer: Yes
Refrigerator: Yes
Washer: Yes

Cooling

Wall/Window Unit(s): Yes

Waterfront

None: Yes

Electric

Other Electric: Yes

Waterview

No Waterview: Yes

Floor

Combo: Yes
Laminate: Yes
Tile: Yes

Interior Features

Furnished: Yes
Smoke Alarms: Yes

Windows/Doors

Wood Windows: Yes

Vehicle Storage

Guest Parking: Yes
Off Street Parking: Yes

Construction

Frame: Yes

Land Size

Less Than 1/4 Acre: Yes

Utilities

FKAA: Yes

Title

Negotiable: Yes

Property Rights

Multi-Use/Commercial: Yes

Miscellaneous

Pool: Yes

Roof

Metal Roof: Yes

Shutters

Other: Yes

Property Features

Deed Restrictions: No Type: Other Comrcl Style Waterfront: None Waterview: No Waterview Dockage: None Vehicle Storage: Guest Parking; Off Street Parking Cooling: Wall/Window Unit(s) Utilities: FKAA Interior Features: Furnished; Smoke Alarms Appliances: Dryer; Refrigerator; Washer Miscellaneous: Pool Construction: Frame Electric: Other Electric Shutters: Other Floor: Combo; Laminate; Tile Roof: Metal Roof Land Size: Less Than 1/4 Acre Fee Includes: None Title: Negotiable Property Rights: Multi-Use/Commercial

Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty

Last Updated: October - 07 - 2026

The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.

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