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Listed by Raymond J Capas Berkshire Hathaway HomeServices Knight & Gardner Realty
$ 2,100,000
Est. payment | /mo
8 Beds
4 Baths
2,109 Sqft Lot
$ 2,100,000
Est. payment | /mo
8 Beds
4 Baths
2,109 Sqft Lot
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Key West Realty Cos Sub (3.0)
MLS Listing ID 610922
Bedrooms 8
Full Baths 4
HOA Y/N No
Year Built 1963
Annual Tax Amount $14,760
Tax Year 2023
Lot Size 2,109 Sqft
Acres 0.05
Lot Dimensions 100 x 100
Property Sub-Type Commercial
Property 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 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
**** 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
Location
State FL
County Monroe
Area 03 - Key West
Zoning MDR-1 - Medium Desnity Residential
Direction All 4 units identical with 750 sq ft under air conditioning. Addition 4 enclosed laundry rooms & covered front porches
Interior
Appliance Dryer, Washer, Range
Exterior
Utilities Available FKAA, Municipal Sewer
Waterfront Description None
Garage No
Building
Story 1
Level or Stories 1
Others
HOA Fee Include None