1224 2nd Street, Key West, FL 33040
New Listing
$1,700,000
Property Type:
Residential
Bedrooms:
4
Baths:
4
Square Footage:
3,000
Lot Size (sq. ft.):
7,000
Status:
Active
Current Price:
$1,700,000
List Date:
5/01/2026
Last Modified:
5/01/2026
Overview
Description
Listing Details MLS# 619703
Location, Tax & Legal
- Street #
- 1224
- Street Name
- 2nd
- Street Suffix
- Street
- Key/Island
- Key West
- State/Province
- FL
- Zip Code
- 33040
- County
- Monroe
- Subdivision
- Sunshine Sub Plat 3 (3.0)
- Area
- 03 - Key West
- KW Neighborhood
- New Town
- City
- KEY WEST
- Mile Marker
- 3
- Marathon Neighborhood
- N/A
- Side
- Bay/Gulf
- Flood Zone
- AE
- Alternate Key #
- 1052078
- Parcel #
- 00051450-000000
- Zoning
- MDR-1 - Medium Desnity Residential
- Deed Restrictions
- Unknown
- Legal
- BK 1 LOT 5 SUNSHINE SUB PLAT NO 3 PB2-169 OR51-144 OR438-196 OR561-579 OR592-336 OR845-437 OR1188-247 OR1686-928 OR3167-
- Taxes
- 10119.76
- Tax Year
- 2025
- Pub Sewer HkUp
- Yes
Contract Information
- Listing Board
- Key West Association
General Property Description
- Realtor.COM Type
- Multi-family
- Style
- Multi-Units
- Waterfront
- No
- Pool
- No
- Year Built
- 1950
- Lot SqFt
- 7000
- Acres
- 0.16
- Living Apx SqFt
- 3000
- SqFt Source
- Property Data Card
- Total Bedrooms
- 4
- Full Baths
- 4
- Total Baths
- 4
- Rentals Allowed
- With Restrictions
- Control Depth
- 0
- Total Units
- 0
Association Info
- Mandatory Home Owners Asc
- No
- 1st Right of Refusal
- No
- Association Fee $
- 0
Building Style
- Above Flood
- Unknown
- Other Bldg Style
- Yes
More Information
Remarks & Misc
- Remarks – Consumer
- Strong value-add multi-family fourplex investment opportunity with major improvements already completed. The heavy lifting has been done, including a new roof, brand-new windows, and updated concrete throughout, setting the stage for the next owner to bring the project to completion. Once finished and delivered furnished, the property has the potential to generate over $200,000 in annual income across all four units. Additional upside includes the option to condo-convert, with projected rental income of approximately $6,000/month for the lower units and $7,000/month for the upper. An ideal opportunity for an investor looking to step into a project with reduced risk, immediate upside, and strong income potential. A rare chance to step in, complete the project, and capture the upside of a fully optimized, income-producing asset.
Fee Includes
- None
- Yes
Dockage
- None
- Yes
Tax Exemptions
- None
- Yes
Appliances
- Oven
- Yes
Pets
- Pets Allowed
- Yes
Waterfront
- None
- Yes
Waterview
- No Waterview
- Yes
Construction
- Combo Construction
- Yes
Land Size
- Less Than 1/4 Acre
- Yes
Utilities
- Buyer to Verify
- Yes
Roof
- Metal Roof
- Yes
Property Features
Fee Includes:
None
Tax Exemptions:
None
Waterfront:
None
Waterview:
No Waterview
Dockage:
None
Building Style:
Other Bldg Style
Utilities:
Buyer to Verify
Appliances:
Oven
Construction:
Combo Construction
Roof:
Metal Roof
Pets:
Pets Allowed
Land Size:
Less Than 1/4 Acre
Listing Office:
Ocean Sotheby's International Realty
Last Updated: May - 01 - 2026
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.