1803-1805 Atlantic Boulevard, Key West, FL 33040 (MLS# 597772)

1803-1805 Atlantic Boulevard, Key West, FL 33040

$2,400,000

Property Type: Residential Bedrooms: 13 Baths: 12 Square Footage: 6,480 Lot Size (sq. ft.): 9,250 Status: Closed

Current Price: $2,400,000 List Date: 10/08/2021 Last Modified: 8/24/2024

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.

More Information MLS# 597772

Contract Information

Listing Board: Marathon/Lower Keys Current Price: $2,400,000 Listing Date: 2021-09-10 Sold Price: $2,400,000

Location, Tax & Legal

KW Neighborhood: Midtown West City: KEY WEST Mile Marker: 2 Marathon Neighborhood: N/A Side: Ocean Flood Zone: AE,AE Alternate Key #: 1062600 Add'l Parcel #1: 1062618 Parcel #: 00062200-000000 Zoning: MDR-1 - Medium Desnity Residential Deed Restrictions: Unknown Legal: KW DIAG PB 1-13 LOT 1 SQR 1 TR 30 OR137-440/441 OR225-39/40 OR233-543 OR625-178/79 OR765-1643-44 OR1721-116 OR1987-1910/ Taxes: 13707.17 Tax Year: 2020 Pub Sewer HkUp: Yes 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 Waterfront: No Control Depth: 0 Lot SqFt: 9250 Pool: Yes Total Units: 0 Acres: 0.11 SqFt Source: Property Data Card Rentals Allowed: With Restrictions Style: Multi-Units Year Built: 1975 Living Apx SqFt: 6480 Total Bedrooms: 13 Full Baths: 12 Total Baths: 12

Remarks & Misc

Remarks – Consumer: 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.

Association Info

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

Fee Includes

Other: 1

Dockage

None: 1

Tax Exemptions

Homestead: 1

Appliances

Refrigerator: 1 Washer: 1

Pets

Pets Allowed: 1

Cooling

Central Air: 1

Waterfront

None: 1

Waterview

No Waterview: 1

Property Condition

Updated/Remodeled: 1

Building Style

Above Flood: Unknown

Vehicle Storage

Assigned Parking: 1

Construction

CBS: 1

Land Size

1/4 - 1/2 Acre: 1

Utilities

Buyer to Verify: 1 FKAA: 1

Porch/Balcony

Deck: 1 Open Porch/Balcony: 1 Patio: 1

Pool Info

In Ground: 1

Roof

Metal Roof: 1

Status Change Info

Sold Date: 2022-02-23 Sold Price: $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

Documents

1803 1805 Atlantic Offering ›

Listing Office: Internet Realty of the Florida Keys

Last Updated: August - 24 - 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.