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Property Info

# Kitchens

6

# Efficiencies

Yes

# Refrigerators

6

# Range/Ovens

6

# Washers

Yes

# Dryers

Yes

# Dishwashers

Yes

Financial Status

Bank Owned

No

Potential Short Sale

No

Remarks & Misc

Remarks – Consumer

This exceptional 6-dwelling unit redevelopment opportunity perched atop Solares Hill, the 18' highest point in Key West, is practically shovel-ready and includes top-level planning & design that resulted in an issued building permit in 2024. Substantial renovation is already complete on four of the 1-bedroom units; only the house and studio apartment renovation and condo conversion remain. The current owner, an experienced developer, invested significant time and capital securing previous approvals with the assistance of seasoned local professionals to renovate and then convert the rentals to condos, including detailed architectural plans, local-attorney-prepared condominium documents, a proposed survey for the 6-unit condo development, detailed labor and materials cost projection by a local licensed contractor for the construction of the house, and full submittal documents and a building permit issued in early 2024. The only thing missing is a new buyer ready to complete the process. The property's ideal central location in the very heart of Old Town just two short blocks from Duval St., combined with the insurance savings and peace of mind given the high elevation, added to the redevelopment design and previous permitting, represents measurable, tangible value. The property's 6 residential units break down as follows:(1) an architecturally redesigned structure at 709 Whitmarsh Ln, with parking and pool, to replace the current single-family home and studio apartment, and (2) 4 additional, fully renovated, large 1-bedroom apartments housed in a historic 2-story building at 713 Whitmarsh Ln. This outstanding investment opportunity represents 6 legal, currently rented units in the absolute best location in Old Town Key West and with the building permit previously issued, a streamlined path to final execution of the condominium redevelopment. All final entitlements and approvals to be confirmed and completed by buyer. Fully tenant occupied, photos taken before move in.

Directions

Simonton St and turn right on Simonton St. Turn right on Angela St. Turn right on Whitmarsh Ln. Property is second on the left.

Type

Apartment 3 or more

Yes

Fee Includes

None

Yes

Dockage

None

Yes

Accounts & Meters

# Water Meters

6

# Electric Meters

5

Appliances

Dryer

Yes

Range

Yes

Refrigerator

Yes

Washer

Yes

Cooling

Ceiling Fans(s)

Yes

Wall/Window Unit(s)

Yes

Waterfront

None

Yes

Waterview

No Waterview

Yes

Floor

Tile

Yes

Vinyl

Yes

Interior Features

Laundry Room

Yes

Windows/Doors

Single Hung Windows

Yes

Construction

Combo Construction

Yes

Frame

Yes

Stucco

Yes

Land Size

Less Than 1/4 Acre

Yes

Terms

Buyer Obtain Finance

Yes

Utilities

Buyer to Verify

Yes

FKAA

Yes

Municipal Sewer

Yes

Title

Negotiable

Yes

Roof

Metal Roof

Yes

Tenant Paid

Cable

Yes

Electric

Yes

Tnt Pays Other Utils

Yes

Water

Yes

Property Features