$2,400,000
Key West, FL 33040
MLS# 597772
Status: Closed
13 beds | 12 baths | 6480 sqft
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Property Description
Perfect 1031 Exchange! Priced to Sell! DO NOT MISS this 7 unit apartment complex that is centrally located steps to both Smathers and Higgs Beach and a 5 minutes bike ride to world Famous Duval st. The 3 building complex houses (1) 3bed/2bath, (4) 2bed/2 bath, and (2) 1bed/1bath, with one of the largest residential swimming pools in Key West. Interiors updated with marble countertops, tile floors, and recessed lighting. All master baths have Jacuzzi tubs. Each unit has individual laundry, utility meters and one assigned parking space. This will not last so call today! A pleasure to show, but 48 hour notice needed for inside Current cap rate 4.24% . Projected Cap Rate of 5.12% with simple rent increases. Huge ROI possible by converting to condominium. Gross Income of $192K with $51,244 insurances and $13,707 in taxes.
Details
Maps
Documents
Contract Information
Current Price: $2,400,000
Listing Date: 2021-09-10
Listing Board: Marathon/Lower Keys
Leased Price Monthly: $2,400,000
Location, Tax & Legal
Street #: 1803-1805
Street Name: Atlantic
Street Suffix: Boulevard
Key/Island: Key West
State/Province: FL
Zip Code: 33040
County: Monroe
Subdivision: New Town - Unlisted (2.0)
Area: 03 - Key West
General Property Description
Realtor.COM Type: Multi-family
Style: Multi-Units
Waterfront: No
Pool: Yes
Year Built: 1975
Lot SqFt: 9250
Acres: 0.11
Living Apx SqFt: 6480
SqFt Source: Property Data Card
Total Bedrooms: 13
Full Baths: 12
Total Baths: 12
Rentals Allowed: With Restrictions
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Building Style
Above Flood: Unknown
Status Change Info
Under Contract Date: 2021-12-21
Leased Date: 2022-02-23
Leased Price Monthly: $2,400,000
Status: Closed
Property Features
Fee Includes: Other
Tax Exemptions: Homestead
Waterfront: None
Waterview: No Waterview
Dockage: None
Property Condition: Updated/Remodeled
Vehicle Storage: Assigned Parking
Cooling: Central Air
Utilities: Buyer to Verify; FKAA
Appliances: Refrigerator; Washer
Pool Info: In Ground
Construction: CBS
Roof: Metal Roof
Pets: Pets Allowed
Land Size: 1/4 - 1/2 Acre
1803 1805 Atlantic Offering 
Listing Office: Internet Realty of the Florida Keys
Last Updated: August - 24 - 2024
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