704 Caroline Street, Key West, FL 33040

$1,750,000
Property Type: Residential Bedrooms: 4 Baths: 5 Square Footage: 2,080 Lot Size (sq. ft.): 1,925 Status: Closed
Current Price: $1,750,000 List Date: 9/19/2024 Last Modified: 8/05/2025

Description

Triplex investment property! Prime location only 1 block from the historic Key West seaport and 2 blocks from Duval St. The downstairs offers 2 units which include a 1/1 with kitchenette and a 1/1 with full kitchen. Enjoy the front porch facing Caroline St. or spend a lazy afternoon lounging by the dip pool in the backyard. Ascend the gorgeous wooden staircase to the upstairs unit which includes the 2nd and 3rd floors and has many features reminiscent of an old ship accented by beautifully detailed wood trim. This 2/3 unit includes hardwood floors, stained glass details, a loft/office, a front porch for relaxing, a small back porch overlooking the pool, and a unique widow's walk where you can enjoy a bit of privacy in the treetops. The kitchen includes a built-in water filtration system, the master bedroom is a generous size, and you'll find storage galore throughout the home with built-ins, nooks, and crannies. This historic home has high ceilings throughout, and the windows (except skylights) are hurricane rated. The owners currently live in the upstairs unit and use the first-floor units as monthly vacation rentals. Any of the units could be used as long-term rentals, or the property could potentially be converted into an up/down duplex or returned to its original configuration as a single-family home. Enjoy the close proximity to all the amenities this great location offers in Old Town. This historic gem is awaiting your vision.

More Information MLS# 611509

Contract Information

Listing Board: Key West Association As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No Species List: No Current Price: $1,750,000 Listing Date: 2024-09-18 Sold Price: $1,750,000

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 #: 1003824 Handicap Access: No Parcel #: 00003660-000000 Zoning: HMDR - Historic Medium Density Residential Deed Restrictions: Unknown Legal: KW PT LOT 3 SQR 22 G11-211 G59-334 OR15-446 OR98-455 OR231-255/56 OR337-127 OR466-260/61 OR650-90 OR792-1151 OR952-1771 Taxes: 11490.94 Tax Year: 2023 Pub Sewer HkUp: Yes Street #: 704 Street Name: Caroline Street Suffix: Street Key/Island: Key West State/Province: FL Zip Code: 33040 County: Monroe Subdivision: Old Town - Unrecord (1.0) Area: 01 - Key West

General Property Description

Realtor.COM Type: Multi-family Waterfront: No Control Depth: 0 Lot SqFt: 1925 Pool: Yes Lot Sqft Source: Property Data Card Total Units: 3 Acres: 0.04 SqFt Source: Property Data Card Rentals Allowed: With Restrictions Min Rental Days: 28 Style: Multi-Units Year Built: 1928 Living Apx SqFt: 2080 Total Bedrooms: 4 Full Baths: 5 Total Baths: 5

Remarks & Misc

Remarks – Consumer: Triplex investment property! Prime location only 1 block from the historic Key West seaport and 2 blocks from Duval St. The downstairs offers 2 units which include a 1/1 with kitchenette and a 1/1 with full kitchen. Enjoy the front porch facing Caroline St. or spend a lazy afternoon lounging by the dip pool in the backyard. Ascend the gorgeous wooden staircase to the upstairs unit which includes the 2nd and 3rd floors and has many features reminiscent of an old ship accented by beautifully detailed wood trim. This 2/3 unit includes hardwood floors, stained glass details, a loft/office, a front porch for relaxing, a small back porch overlooking the pool, and a unique widow's walk where you can enjoy a bit of privacy in the treetops. The kitchen includes a built-in water filtration system, the master bedroom is a generous size, and you'll find storage galore throughout the home with built-ins, nooks, and crannies. This historic home has high ceilings throughout, and the windows (except skylights) are hurricane rated. The owners currently live in the upstairs unit and use the first-floor units as monthly vacation rentals. Any of the units could be used as long-term rentals, or the property could potentially be converted into an up/down duplex or returned to its original configuration as a single-family home. Enjoy the close proximity to all the amenities this great location offers in Old Town. This historic gem is awaiting your vision.

Association Info

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

License Info

# of City License: 1 Non Trans Rntl Lic: 1

Fee Includes

None: 1

Dockage

None: 1

Tax Exemptions

Homestead: 1

Appliances

Dishwasher: 1 Disposal: 1 Dryer: 1 Freezer: 1 Microwave: 1 More Appliances: 1 Oven: 1 Range: 1 Refrigerator: 1 Washer: 1 Water Purification: 1

Pets

Pets Allowed: 1

Cooling

Ceiling Fans(s): 1 Central Air: 1 Ductless: 1

Heating

Heat Pump: 1

Waterfront

None: 1

Waterview

No Waterview: 1

Floor

Tile: 1 Wood: 1 Other: 1

Interior Features

Built-in Cabinets: 1 Cathedral Ceilings: 1 Drapes/Blinds Incl: 1 Entrance Foyer: 1 Granite Counter Top: 1 Sky Light(s): 1

Specialty Rooms

Loft: 1

Building Style

Above Flood: Yes Conch: 1 Stories: 3 Stories

Windows/Doors

Impact Rstnce Window: 1

Construction

Frame: 1

Land Size

Less Than 1/4 Acre: 1

Furnished

Negotiable: 1

Terms

Cash: 1 Conventional: 1 FHA: 1 VA: 1

Utilities

Cable Available: 1 FKAA: 1 Municipal Sewer: 1

Porch/Balcony

Deck: 1 Open Porch/Balcony: 1 Widow's Walk: 1

Title

Negotiable: 1

Pool Info

In Ground: 1 Decked: 1

Pre-Wired

Cable: 1 Surround Sound: 1

Roof

Metal Roof: 1

Financial Status

Auction: No Bank Owned: No Potential Short Sale: No Standard Sale: Yes

Shutters

Panel: 1

Status Change Info

Sold Date: 2025-08-05 Sold Price: $1,750,000 Status: Closed

Property Features

Fee Includes: None Tax Exemptions: Homestead License Info: Non Trans Rntl Lic Waterfront: None Waterview: No Waterview Dockage: None Building Style: Conch Furnished: Negotiable Cooling: Ceiling Fans(s); Central Air; Ductless Heating: Heat Pump Utilities: Cable Available; FKAA; Municipal Sewer Interior Features: Built-in Cabinets; Cathedral Ceilings; Drapes/Blinds Incl; Entrance Foyer; Granite Counter Top; Sky Light(s) Pre-Wired: Cable; Surround Sound Specialty Rooms: Loft Appliances: Dishwasher; Disposal; Dryer; Freezer; Microwave; More Appliances; Oven; Range; Refrigerator; Washer; Water Purification Pool Info: In Ground; Decked Construction: Frame Shutters: Panel Floor: Tile; Wood; Other Roof: Metal Roof Pets: Pets Allowed Land Size: Less Than 1/4 Acre Terms: Cash; Conventional; FHA; VA Title: Negotiable
Listing Office: eXp Realty LLC
Last Updated: August - 05 - 2025
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