3729 Paula Avenue, Key West, FL 33040

$680,000

Property Type: Residential Bedrooms: 3 Baths: 2 Square Footage: 1,359 Lot Size (sq. ft.): 5,500 Status: Closed

Current Price: $680,000 List Date: 11/07/2025 Last Modified: 4/27/2026

Overview

Description

Unlock the potential of this prime property located in the highly sought-after New Town Key West. Situated on a spacious 5,500 sq ft lot, this single-level home offers over 1,300 sq ft of air-conditioned living space, including three bedrooms and a versatile sunroom that can serve as a fourth bedroom. With ample room for an in-ground pool, a full bath, and a half guest bath, this property is perfect for maximizing rental income or creating a luxurious retreat. Built in 1963, the home features durable concrete construction and timeless mid-century modern design, ensuring long-term value and appeal. The large covered parking area accommodates multiple vehicles, making it ideal for tenants or guests, and can double as an entertainment space. This property is zoned for both monthly and long-term rentals, offering investors a lucrative opportunity in one of Florida's most desirable destinations. Whether you're looking to add a turnkey rental to your portfolio or undertake a full renovatio ... (Read more)

Listing Details MLS# 617224

Location, Tax & Legal

Street #: 3729
Street Name: Paula
Street Suffix: Avenue
Key/Island: Key West
State/Province: FL
Zip Code: 33040
County: Monroe
Subdivision: Pearlman Est (4.0)
Area: 04 - Key West
KW Neighborhood: New Town
City: KEY WEST
Mile Marker: 4
Marathon Neighborhood: N/A
Side: Median
Flood Zone: AE,AE
Alternate Key #: 1055492
Parcel #: 00054900-000000
Zoning: SF - Single Family
Deed Restrictions: Unknown
Legal: REPLAT OF BLOCK 3 PEARLMAN ESTATES KW PB3-171 LOT 18 BLK 3 OR263-110 OR540-67 OR2043-2323/2324(ORDER) OR2051-417 OR2051
Taxes: 5585.96
Tax Year: 2024
Pub Sewer HkUp: Yes

Contract Information

Listing Board: Key West Association
Potential Short Sale: Yes
Bank Owned: No

General Property Description

Realtor.COM Type: Residential - Single Family
Style: Single Family
Waterfront: No
Pool: No
Year Built: 1963
Lot SqFt: 5500
Acres: 0.13
Living Apx SqFt: 1359
SqFt Source: Tax Records
Total Bedrooms: 3
Full Baths: Yes
Half Baths: Yes
Total Baths: 2
Rentals Allowed: Yes
Min Rental Days: 28
Control Depth: 0
Total Units: 0

Status Change Info

Under Contract Date: 2025-12-30
Sold Date: 2026-04-24

Association Info

Mandatory Home Owners Asc: No
1st Right of Refusal: No
Association Fee $: 0

Building Style

Above Flood: Yes
Stories: 1 Story

More Information

Vehicle Storage

Car(s): 2
Carport: Yes
Covered Parking: Yes
Off Street Parking: Yes

Financial Status

Bank Owned: No
Potential Short Sale: Yes
Standard Sale: No

Remarks & Misc

Remarks – Consumer: Unlock the potential of this prime property located in the highly sought-after New Town Key West. Situated on a spacious 5,500 sq ft lot, this single-level home offers over 1,300 sq ft of air-conditioned living space, including three bedrooms and a versatile sunroom that can serve as a fourth bedroom. With ample room for an in-ground pool, a full bath, and a half guest bath, this property is perfect for maximizing rental income or creating a luxurious retreat. Built in 1963, the home features durable concrete construction and timeless mid-century modern design, ensuring long-term value and appeal. The large covered parking area accommodates multiple vehicles, making it ideal for tenants or guests, and can double as an entertainment space. This property is zoned for both monthly and long-term rentals, offering investors a lucrative opportunity in one of Florida's most desirable destinations. Whether you're looking to add a turnkey rental to your portfolio or undertake a full renovation to increase value, this property provides unmatched flexibility. As a short sale, this is a rare chance to acquire a valuable asset at a competitive price. Listed at $695,000, all offers are subject to lender approval. Don't miss out on this incredible investment opportunity in Key West—submit your offer today!

Fee Includes

None: Yes

Dockage

None: Yes

Tax Exemptions

None: Yes

Appliances

Dishwasher: Yes
Microwave: Yes
Oven: Yes
Refrigerator: Yes
Washer: Yes

Pets

Pets Allowed: Yes

Cooling

Wall/Window Unit(s): Yes

Heating

None: Yes

Waterfront

None: Yes

Waterview

No Waterview: Yes

Interior Features

Other: Yes

Property Condition

Fixer Upper: Yes

Construction

Concrete: Yes

Land Size

Less Than 1/4 Acre: Yes

Furnished

Unfurnished: Yes

Terms

Cash: Yes
Conventional: Yes
No Seller Finance: Yes
VA: Yes

Utilities

Elect Separate Meter: Yes
FKAA: Yes
Municipal Sewer: Yes
Water Separate Meter: Yes

Title

Title Ins - Seller: Yes

Exterior Features

Fencing: Yes

Property Features

Fee Includes: None Tax Exemptions: None Waterfront: None Waterview: No Waterview Dockage: None Property Condition: Fixer Upper Vehicle Storage: Carport; Covered Parking; Off Street Parking Furnished: Unfurnished Cooling: Wall/Window Unit(s) Heating: None Utilities: Elect Separate Meter; FKAA; Municipal Sewer; Water Separate Meter Interior Features: Other Appliances: Dishwasher; Microwave; Oven; Refrigerator; Washer Exterior Features: Fencing Construction: Concrete Pets: Pets Allowed Land Size: Less Than 1/4 Acre Terms: Cash; Conventional; No Seller Finance; VA Title: Title Ins - Seller

Listing Office: Realty ONE Group Destination

Last Updated: April - 27 - 2026

Broker Attribution: rogdestination@gmail.com

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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