, Key West, FL 33040 (MLS# 610922)

Key West, FL 33040

$2,000,000

Two Duplexes side by side - walkway down the center between the (2) buildings.

Each of the (4) units have been legally separated via survey, deed, alternate key number & real estate parcel number.

Each unit has at least 2 parking spaces out front.

Each unit has its own laundry room attached/accessed through the kitchen. Washers & dryers in each unit owned by the Landlords.

Survey showing each of the (4) units and common area walkways.

All roof screws replaced & screws added to current hurricane code requirements. All vent pipe wraparound rubber "boots" replaced.

Property Type: Commercial Sale Bedrooms: 8 Baths: 4 Lot Size (sq. ft.): 2,109 Status: Active

Current Price: $2,000,000 List Date: 7/29/2024 Last Modified: 7/23/2026

Overview

Description

Development Opportunity. (4) townhouse unit complex situated on a heavily landscaped 10,000 sq ft parcel. Comprised of (2) side by side duplexes legally subdivided as ( 4 ) individual, 750 sq ft (under air) licensed units, with (4) separate legal descriptions, parcel numbers, insurance policies, & utilities meters. At one time, there were four individual loans on each of the units as well. **** The only common area is the roof over each duplex, the shared wall between the units and walkways between, and on either side of each of the (2) duplexes. **** Each unit has its own laundry room addition directly off the kitchens with separate exterior screen doors - - (4) pairs of new washers & dryers. Current below market rents for each 2 bedroom, 1 bathroom unit runs between $2,225 to $2,900 with the lower rents soon to be increased. ***** Always operated as a successful rental property, the units were never sold off, which is definitely the Highest and Best use of the complex. Added ... (Read more)

Listing Details MLS# 610922

Location, Tax & Legal

Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: Key West Realty Cos Sub (3.0)
County: Monroe
Area: 03 - Key West
KW Neighborhood: New Town
City: KEY WEST
Mile Marker: 3
Marathon Neighborhood: N/A
Side: N/A
Flood Zone: AE
Alternate Key #: 1047198
Parcel #: 00046600-000000
Zoning: MDR-1 - Medium Desnity Residential
Legal: KW KW REALTY CO'S FIRST SUB PB1-43 PT LOT 11 SQR 13 TR 21 A/K/A UNIT 3 & 1/4 INT IN PARCEL 6 & 1/2 INT IN PARCEL 7 OR27-
Taxes: 14760
Tax Year: 2023

Contract Information

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

General Property Description

Realtor.COM Type: Commercial
Style: Commercial
Lot SqFt: 2109
Waterfront: No
# Parking Spaces: 10
Off Street Parking: yes
# Stories: Yes
Total # Buildings: 2
Building SqFt: 3000
SqFt Source: Seller
Total Units: 4
Year Built: 1963
Total Bedrooms: 8
Full Baths: 4
Total Baths: 4
Control Depth: 0

License Info

# of City License: 4
# of County License: 4

Association Info

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

More Information

Financial Status

Bank Owned: No
Potential Short Sale: No

Remarks & Misc

Remarks – Consumer: Development Opportunity. (4) townhouse unit complex situated on a heavily landscaped 10,000 sq ft parcel. Comprised of (2) side by side duplexes legally subdivided as ( 4 ) individual, 750 sq ft (under air) licensed units, with (4) separate legal descriptions, parcel numbers, insurance policies, & utilities meters. At one time, there were four individual loans on each of the units as well. **** The only common area is the roof over each duplex, the shared wall between the units and walkways between, and on either side of each of the (2) duplexes. **** Each unit has its own laundry room addition directly off the kitchens with separate exterior screen doors - - (4) pairs of new washers & dryers. Current below market rents for each 2 bedroom, 1 bathroom unit runs between $2,225 to $2,900 with the lower rents soon to be increased. ***** Always operated as a successful rental property, the units were never sold off, which is definitely the Highest and Best use of the complex. Added value would be to install a lap pool/ patio area in the 100' wide back yard as a common use amenity. 2nd option - would be to provide a private pool area for each of the rear (2) units, giving each one half of the large rear yard, greatly increasing their sale value. Mature landscaping that has been well maintained surrounds the property and separates the units. Other valuable amenities are the over sized covered front porches with high open beamed ceilings offering additional square footage - and - valuable on site parking for 10 cars. The property has been continually well maintained - painted, new air conditioners, blinds & curtain rods on all windows. All roof screws were replaced & new ones added to code standards. ***** Under ''Documents Tab'', see the survey with legal descriptions for each unit, floor & site plan & aerial photo. (4) Windstorm, Flood, Fire & Liability policies in place. Call for additional information. Realtor owned
Directions: All 4 units identical with 750 sq ft under air conditioning. Addition 4 enclosed laundry rooms & covered front porches

Deed Restrictions

No: Yes

Type

Apartment 3 or more: Yes

Fee Includes

None: Yes

Dockage

None: Yes

Appliances

Dryer: Yes
Range: Yes
Washer: Yes

Waterfront

None: Yes

Waterview

No Waterview: Yes

Construction

CBS: Yes

Land Size

1/4 - 1/2 Acre: Yes

Utilities

FKAA: Yes
Municipal Sewer: Yes

Property Features

Deed Restrictions: No Type: Apartment 3 or more Waterfront: None Waterview: No Waterview Dockage: None Utilities: FKAA; Municipal Sewer Appliances: Dryer; Range; Washer Construction: CBS Land Size: 1/4 - 1/2 Acre Fee Includes: None

Documents

Elevation Certificate ›

Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty

Last Updated: July - 23 - 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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