1501 Truman Avenue, Key West, FL 33040

$3,595,000
Property Type: Residential Bedrooms: 4 Baths: 4 Square Footage: 2,214 Lot Size (sq. ft.): 4,364 Status: Closed
Current Price: $3,595,000 List Date: 1/12/2023 Last Modified: 8/26/2024

Description

This is a fantastic investment opportunity in the sought-after and quiet neighborhood The Meadows in Key West. With a gross income close to $800,000.00 generated in the last 2 years, this property has proven to be a reliable source of revenue. The real draw is the 3 transient licenses which allow for daily and nightly rentals, making it a prime location in one of the most desirable destination in the country. The shared indoor courtyard with a swimming pool adds to the appeal for guests. The property is a multiplex with 4 units each boasting a kitchen, living room, bedroom and bathroom. The 4th unit is rented at 3k a month on a yearly lease and the income is included in the total revenue. Recently renovated in 2018, the units feature dade county pine, engineered wood flooring, granite countertops, new kitchen cabinets, new appliances, new plumbing and new electrical making it move in ready for guests. Contact us today to schedule a viewing and take the first step towards owning a piece of paradise.

More Information MLS# 601346

Contract Information

Listing Board: Key West Association As is Rght to Inspct: Yes Current Price: $3,595,000 Listing Date: 2022-06-09 Sold Price: $3,595,000

Location, Tax & Legal

KW Neighborhood: Old Town-N of Truman City: KEY WEST Off Shore Island: No Mile Marker: 1 Marathon Neighborhood: N/A Side: Bay/Gulf Flood Zone: AE Alternate Key #: 1025046 Parcel #: 00024250-000000 Zoning: HMDR - Historic Medium Density Residential Deed Restrictions: Unknown Legal: KW BENJ ALBURYS SUBD DIAGRAM I-389 PT LOTS 8-9 SQR 3 TR 7 E1-128 OR662-774 OR703-83/84 OR959-993/94 OR1006-283/84 OR1038 Taxes: 9098.53 Tax Year: 2021 Pub Sewer HkUp: Yes Street #: 1501 Street Name: Truman Street Suffix: Avenue Key/Island: Key West State/Province: FL Zip Code: 33040 County: Monroe Subdivision: The Meadows (1.0) Area: 01 - Key West

General Property Description

Realtor.COM Type: Multi-family Waterfront: No Control Depth: 0 Lot SqFt: 4364 Pool: Yes Total Units: 0 Acres: 0.1 SqFt Source: Property Data Card Rentals Allowed: Yes Style: Multi-Units Year Built: 1928 Living Apx SqFt: 2214 Total Bedrooms: 4 Full Baths: 4 Total Baths: 4

Remarks & Misc

Remarks – Consumer: This is a fantastic investment opportunity in the sought-after and quiet neighborhood The Meadows in Key West. With a gross income close to $800,000.00 generated in the last 2 years, this property has proven to be a reliable source of revenue. The real draw is the 3 transient licenses which allow for daily and nightly rentals, making it a prime location in one of the most desirable destination in the country. The shared indoor courtyard with a swimming pool adds to the appeal for guests. The property is a multiplex with 4 units each boasting a kitchen, living room, bedroom and bathroom. The 4th unit is rented at 3k a month on a yearly lease and the income is included in the total revenue. Recently renovated in 2018, the units feature dade county pine, engineered wood flooring, granite countertops, new kitchen cabinets, new appliances, new plumbing and new electrical making it move in ready for guests. Contact us today to schedule a viewing and take the first step towards owning a piece of paradise.

Status Change Info

Sold Comments: THANK YOU Sold Date: 2023-06-12 Sold Price: $3,595,000 Status: Closed

Association Info

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

License Info

# of City License: 3 Transient Rntl Licns: Yes

Fee Includes

None: 1

Dockage

None: 1

Tax Exemptions

None: 1

Appliances

Dishwasher: 1 Dryer: 1 Microwave: 1 Oven: 1 Refrigerator: 1 Stainless Steel Appliance(s): 1 Washer: 1

Pets

Other See Remarks: 1

Cooling

Wall/Window Unit(s): 1

Waterfront

None: 1

Waterview

No Waterview: 1

Interior Features

Dade County Pine: 1 Granite Counter Top: 1

Property Condition

Updated/Remodeled: 1

Building Style

A-Frame: 1 Above Flood: Unknown Other Bldg Style: 1

Vehicle Storage

Car(s): 2 Assigned Parking: 1

Construction

Frame: 1 Other: 1

Land Size

Less Than 1/4 Acre: 1

Furnished

Negotiable: 1

Utilities

FKAA: 1

Porch/Balcony

Deck: 1 Open Porch/Balcony: 1

Pool Info

In Ground: 1

Property Features

Fee Includes: None Tax Exemptions: None Waterfront: None Waterview: No Waterview Dockage: None Property Condition: Updated/Remodeled Building Style: A-Frame; Other Bldg Style Vehicle Storage: Assigned Parking Furnished: Negotiable Cooling: Wall/Window Unit(s) Utilities: FKAA Interior Features: Dade County Pine; Granite Counter Top Appliances: Dishwasher; Dryer; Microwave; Oven; Refrigerator; Stainless Steel Appliance(s); Washer Pool Info: In Ground Construction: Frame; Other Pets: Other See Remarks Land Size: Less Than 1/4 Acre
Listing Office: Key West Luxury Real Estate Inc (KW)
Last Updated: August - 26 - 2024
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.