1018 Georgia Street 3, Key West, FL 33040 (MLS# 617249)

1018 Georgia Street 3, Key West, FL 33040

$1,150,000

Property Type: Commercial Sale Bedrooms: 3 Baths: 3 Square Footage: 1,452 Lot Size (sq. ft.): 3,042 Status: Active

Current Price: $1,150,000 List Date: 11/08/2025 Last Modified: 12/17/2025

Description

Investors Alert! Legal Duplex in Old Town Key West. This property just had an Extreme Makeover. new roof, new siding, new kitchens, new bathrooms., new sub flooring in the back apartment, new impact windows. An opportunity to own a rental Property in Kew West with great income flow. With all the upgrades the rent will be increased. Downstairs lock out units; the back unit will rent for $2500 with a back yard exposure. The front unit rent for $2200. Projected income will be estimating $7800. per month. Never a problem renting in the past. Upstairs tenant in place. The yearly income $93,600 bring a 6.5 cap rate. Located across the street form Bay View Park. An Exceptional location and Opportunity. @ separate meters for electric and water. tenants pay their own utilities. All units will be ready to show from December 19th onwards. Updated photos and floorplan to follow ASAP.

Open Houses

Sunday, January 04, 11:00 am - 1:00 pm

More Information MLS# 617249

Contract Information

Listing Board: Florida Keys Limited Representation: No As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No Species List: No Current Price: $1,150,000 Listing Date: 2025-10-31 List Price: $1,150,000

Location, Tax & Legal

KW Neighborhood: Midtown East Unit #: 3 City: KEY WEST Off Shore Island: No Mile Marker: 2 Marathon Neighborhood: N/A Side: Median Flood Zone: 0.2 PCT ANNUAL CHANC Alternate Key #: 1034771 Parcel #: 00033870-000000 Zoning: HMDR - Historic Medium Density Residential Legal: KW PT OF TR 14 G12-259 OR711-313L/E OR714-668/69 OR714-665/67 OR1464-327AFFD OR1752-1083/84 OR1814-122D/C OR2534-1792/93 Taxes: 7314.45 Tax Year: 2024 Street #: 1018 Street Name: Georgia Street Suffix: Street Key/Island: Key West State/Province: FL Zip Code: 33040 Subdivision: Casa Gato (2.0) County: Monroe Area: 03 - Key West

General Property Description

Realtor.COM Type: Multi-Family Waterfront: No Control Depth: 0 Lot Size: 3042 Lot SqFt: 3042 Business Name: Wish Earth's Georgia Total Units: 0 SqFt Source: Tax Records Building SqFt: 1452 Style: Commercial Living Apx SqFt: 1452 Year Built: 1943 Total Bedrooms: 3 Full Baths: 3 Total Baths: 3

Remarks & Misc

Remarks – Consumer: Investors Alert! Legal Duplex in Old Town Key West. This property just had an Extreme Makeover. new roof, new siding, new kitchens, new bathrooms., new sub flooring in the back apartment, new impact windows. An opportunity to own a rental Property in Kew West with great income flow. With all the upgrades the rent will be increased. Downstairs lock out units; the back unit will rent for $2500 with a back yard exposure. The front unit rent for $2200. Projected income will be estimating $7800. per month. Never a problem renting in the past. Upstairs tenant in place. The yearly income $93,600 bring a 6.5 cap rate. Located across the street form Bay View Park. An Exceptional location and Opportunity. @ separate meters for electric and water. tenants pay their own utilities. All units will be ready to show from December 19th onwards. Updated photos and floorplan to follow ASAP.

Deed Restrictions

No: 1

Association Info

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

Type

Apartment 3 or more: 1

Fee Includes

None: 1

Dockage

None: 1

Appliances

Dishwasher: 1 Dryer: 1 Range: 1 Refrigerator: 1 Other: 2 frig. 2 stoves

Cooling

Wall/Window Unit(s): 1

Waterfront

None: 1

Waterview

No Waterview: 1

Floor

Wood: 1

Windows/Doors

Impact Rstnce Window: 1

Construction

Frame: 1

Land Size

Less Than 1/4 Acre: 1

Terms

Buyer Obtain Finance: 1 Seller Finance Psble: 1

Utilities

FKAA: 1

Title

Title Ins - Buyer: 1

Miscellaneous

Fencing: 1

Roof

Metal Roof: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Tenant Paid

Cable: 1 Electric: 1 Water: 1

Status Change Info

Status: Active

Property Features

Deed Restrictions: No Type: Apartment 3 or more Waterfront: None Waterview: No Waterview Dockage: None Cooling: Wall/Window Unit(s) Utilities: FKAA Appliances: Dishwasher; Dryer; Range; Refrigerator Miscellaneous: Fencing Construction: Frame Floor: Wood Roof: Metal Roof Land Size: Less Than 1/4 Acre Fee Includes: None Terms: Buyer Obtain Finance; Seller Finance Psble Title: Title Ins - Buyer Tenant Paid: Cable; Electric; Water

Listing Office: Coldwell Banker Schmitt Key Largo

Last Updated: December - 17 - 2025

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.