506 Grinnell Street, Key West, FL 33040

$999,000

Property Type: Residential Bedrooms: 3 Baths: 2 Square Footage: 1,416 Lot Size (sq. ft.): 1,863 Status: Active

Current Price: $999,000 List Date: 8/14/2026 Last Modified: 9/09/2026

Overview

Description

Charming Historic Old Town Key West Home, Ready for Its Next Chapter! Here's an opportunity for the buyer who sees possibility where others see a project. This 3-bedroom, 1.5-bath historic Key West home is tucked into the heart of Old Town, just minutes from the Historic Seaport, downtown, restaurants, shopping, and everything that makes island living so special. With classic Key West architecture, a welcoming front porch, hardwood floors, vintage windows, and plenty of original character, the home offers a wonderful starting point for a thoughtful renovation. The interior has been freshly painted, but this is a property that will require renovation and is best suited for a buyer ready to take on a true restoration project. Currently tenant occupied, the property also offers the advantage of existing rental income while a new owner makes plans, lines up contractors, or prepares for a future renovation or move-in. The existing floor plan includes generous living space, three ... (Read more)

Listing Details MLS# 620987

Location, Tax & Legal

Street #: 506
Street Name: Grinnell
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
County: Monroe
Subdivision: Old Town - Unlisted (1.0)
Area: 02 - Key West
KW Neighborhood: Old Town-N of Truman
City: KEY WEST
Mile Marker: 1
Marathon Neighborhood: N/A
Side: Median
Flood Zone: AE
Alternate Key #: 1008036
Parcel #: 00007760000000
Zoning: HHDR - Historic High Density Residential
Deed Restrictions: Unknown
Legal: Kw Pt Lot 2 Sqr 46 H1-597 Or488-591/92 Or932-1856 Or1297-2343/44 Or1297-2349/51 Or1297-2352/54 Or1301-311/13 Or1301-314/
Taxes: 8348.36
Tax Year: 2025
Pub Sewer HkUp: Yes

Contract Information

Listing Board: Key West Association
As is Rght to Inspct: Yes

General Property Description

Realtor.COM Type: Residential - Single Family
Style: Single Family
Waterfront: No
Pool: No
Year Built: 1938
Lot SqFt: 1863
Lot Sqft Source: Tax Records
Acres: 0.04
Living Apx SqFt: 1416
SqFt Source: Tax Records
Total Bedrooms: 3
Full Baths: Yes
Half Baths: Yes
Total Baths: 2
Rentals Allowed: With Restrictions
Min Rental Days: 30
Control Depth: 0
Total Units: 0

Association Info

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

Building Style

Above Flood: Unknown
Conch: Yes

More Information

Remarks & Misc

Remarks – Consumer: Charming Historic Old Town Key West Home, Ready for Its Next Chapter! Here's an opportunity for the buyer who sees possibility where others see a project. This 3-bedroom, 1.5-bath historic Key West home is tucked into the heart of Old Town, just minutes from the Historic Seaport, downtown, restaurants, shopping, and everything that makes island living so special. With classic Key West architecture, a welcoming front porch, hardwood floors, vintage windows, and plenty of original character, the home offers a wonderful starting point for a thoughtful renovation. The interior has been freshly painted, but this is a property that will require renovation and is best suited for a buyer ready to take on a true restoration project. Currently tenant occupied, the property also offers the advantage of existing rental income while a new owner makes plans, lines up contractors, or prepares for a future renovation or move-in. The existing floor plan includes generous living space, three bedrooms, a full bath downstairs, a half bath upstairs, and a private backyard with the potential to become a lush tropical retreat. For the right buyer, the appeal is undeniable: an authentic Old Town home, a highly desirable location, existing income, and the opportunity to restore, reimagine, and create something truly special. Bring your contractor, your creativity, and your vision. This one isn't pretending to be turnkey, but it just might be worth the work. *some photos digitally enhanced only to remove personal belongings
Directions: Grinnell Street between Southard and Fleming.

Fee Includes

None: Yes

Dockage

None: Yes

Tax Exemptions

None: Yes

Appliances

Dishwasher: Yes
Gas Appliances: Yes
Range: Yes
Refrigerator: Yes

Pets

Pets Allowed: Yes

Cooling

Wall/Window Unit(s): Yes

Waterfront

None: Yes

Waterview

No Waterview: Yes

Property Condition

Fixer Upper: Yes

Construction

Frame: Yes

Land Size

Less Than 1/4 Acre: Yes

Furnished

Unfurnished: Yes

Terms

Cash: Yes
Conventional: Yes
No Seller Finance: Yes

Utilities

Cable Available: Yes
FKAA: Yes
Municipal Sewer: Yes

Porch/Balcony

Open Porch/Balcony: Yes

Exterior Features

Fencing: Yes
Fruit Tree(s): Yes

Property Features

Fee Includes: None Tax Exemptions: None Waterfront: None Waterview: No Waterview Dockage: None Property Condition: Fixer Upper Building Style: Conch Furnished: Unfurnished Cooling: Wall/Window Unit(s) Utilities: Cable Available; FKAA; Municipal Sewer Appliances: Dishwasher; Gas Appliances; Range; Refrigerator Exterior Features: Fencing; Fruit Tree(s) Construction: Frame Pets: Pets Allowed Land Size: Less Than 1/4 Acre Terms: Cash; Conventional; No Seller Finance

Listing Office: Realty ONE Group Destination

Last Updated: September - 09 - 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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