2616 Patterson Avenue, Key West, FL 33040

$1,400,000
Property Type: Residential Bedrooms: 8 Baths: 4 Square Footage: 2,880 Lot Size (sq. ft.): 5,000 Status: Closed
Current Price: $1,400,000 List Date: 8/05/2025 Last Modified: 9/27/2025

Description

LEGAL QUADPLEX SPECIAL! Located in the heart of the island, this TURNKEY four unit concrete FORTRESS features two 2/1 units up and two similar units down and has NEVER FLOODED. Recently completed upgrades include a complete outside facelift and new impact doors and windows, in addition to all new wiring from the street to the meters. From a solid metal roof to tile floors throughout - this building is top to bottom FLAWLESS. Did I mention there is plenty of on site parking? Ample room to add a pool and hot tub!! A savvy investor will purchase as a stable cash cow, a primary resident can occupy one unit through a 3.5% down FHA loan and collect solid rental income, or a creative builder could convert it to two duplexes and sell the highly sought after ROGO units. Whichever position you are in - DO NOT DELAY - this will not last. Seller is motivated and ready to make a deal. Recent appraisal in HAND.

More Information MLS# 616054

Contract Information

Listing Board: Marathon/Lower Keys Current Price: $1,400,000 Listing Date: 2025-08-05 Sold Price: $1,400,000

Location, Tax & Legal

KW Neighborhood: Midtown West City: KEY WEST Off Shore Island: No Mile Marker: 3 Marathon Neighborhood: N/A Side: Median Flood Zone: AE Alternate Key #: 1051357 Parcel #: 00050740-000000 Zoning: SF - Single Family Deed Restrictions: Unknown Legal: KW KW REALTY COS FIRST SUB PB1-43 LOT 10 SQR 44 TR 21 OR33-8/9 OR363-255/256 OR865-104 OR885-132 OR993-1597 OR1001-531 O Taxes: 9957.25 Tax Year: 2024 Pub Sewer HkUp: Yes Street #: 2616 Street Name: Patterson Street Suffix: Avenue Key/Island: Key West State/Province: FL Zip Code: 33040 County: Monroe Subdivision: Key West Realty Cos Sub (3.0) Area: 03 - Key West

General Property Description

Realtor.COM Type: Multi-family Waterfront: No Control Depth: 3 Lot SqFt: 5000 Pool: No Lot Sqft Source: Tax Records Total Units: 4 Acres: 0.11 SqFt Source: Tax Records Rentals Allowed: With Restrictions Style: Multi-Units Year Built: 1963 Living Apx SqFt: 2880 Total Bedrooms: 8 Full Baths: 4 Total Baths: 4

Remarks & Misc

Remarks – Consumer: LEGAL QUADPLEX SPECIAL! Located in the heart of the island, this TURNKEY four unit concrete FORTRESS features two 2/1 units up and two similar units down and has NEVER FLOODED. Recently completed upgrades include a complete outside facelift and new impact doors and windows, in addition to all new wiring from the street to the meters. From a solid metal roof to tile floors throughout - this building is top to bottom FLAWLESS. Did I mention there is plenty of on site parking? Ample room to add a pool and hot tub!! A savvy investor will purchase as a stable cash cow, a primary resident can occupy one unit through a 3.5% down FHA loan and collect solid rental income, or a creative builder could convert it to two duplexes and sell the highly sought after ROGO units. Whichever position you are in - DO NOT DELAY - this will not last. Seller is motivated and ready to make a deal. Recent appraisal in HAND.

Status Change Info

Sold Comments: 30K credit from seller to buyer at closing Sold Date: 2025-09-26 Sold Price: $1,400,000 Status: Closed

Association Info

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

Fee Includes

None: 1

Dockage

None: 1

Tax Exemptions

Homestead: 1

Appliances

Range: 1

Waterfront

None: 1

Waterview

No Waterview: 1

Building Style

Above Flood: Unknown Split Level: 1

Construction

Concrete: 1

Land Size

Less Than 1/4 Acre: 1

Terms

Cash: 1 FHA: 1

Utilities

Buyer to Verify: 1 FKAA: 1

Roof

Metal Roof: 1

Property Features

Fee Includes: None Tax Exemptions: Homestead Waterfront: None Waterview: No Waterview Dockage: None Building Style: Split Level Utilities: Buyer to Verify; FKAA Appliances: Range Construction: Concrete Roof: Metal Roof Land Size: Less Than 1/4 Acre Terms: Cash; FHA
Listing Office: Internet Realty of the Florida Keys
Last Updated: September - 27 - 2025
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