1224 2nd Street STREET
KEY WEST, FL 33040
4
Bed
4
Bath
3,000Sqft
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 o
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total Bedrooms: 4Bathroom Information
Total Baths: 4 Full Baths: 4 -
Interior Features
Appliances: Oven Appliances Other: YES -
Roofing Information
Metal RoofHeating & Cooling
Water Front: No None No Waterview
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Building Information
Year Built: 1950 Total Units: 0.00 Floor Location: 7000 Construction: Combo Construction Roof: Metal Roof
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Lot Information
Lot Dimensions: 70 X 100 Lot SqFt: 7,000 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- -
Property Information
SQ ft (Living Area): 3,000 View: No Waterview Subdivision: Sunshine Sub Plat 3 (3.0)
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Listing Price Information
List Price: $1,700,000
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Tax Information
Taxes: $10,120 Tax Year: 2025 Parcel Number: 00051450-000000 Tax Exemptions: None
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Multi-Unit Information
Pets Allowed: Pets Allowed -
Homeowners Association Information
Mandatory Home Owners Asc: No 1st Right of Refusal: No Association Fee: $0.00
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Utility Information
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 1409 4th Street STREET, Key West, FL, 33040 | $1,250,000 | 4 | 3 | 2,664 | 2,664 SqFt |
| 1614 Dennis Street STREET, Key West, FL, 33040 | $1,299,000 | 7 | 4 | 2,699 | 2,699 SqFt |
| 2004 Patterson Avenue A.., Key West, FL, 33040 | $925,000 | 4 | 3 | 1,239 | 1,239 SqFt |
| 2016 Roosevelt Drive DR.., Key West, FL, 33040 | $1,300,000 | 7 | 5 | 2,957 | 2,957 SqFt |
| 1612 Laird Street STREET, Key West, FL, 33040 | $1,354,000 | 3 | 3 | 1,904 | 1,904 SqFt |
| 1505 Rose Street STREET, Key West, FL, 33040 | $1,785,000 | 4 | 3 | 1,932 | 1,932 SqFt |
| 1432 Eliza Street STREET, Key West, FL, 33040 | $849,000 | 5 | 2 | 1,501 | 1,501 SqFt |
| 901 Eisenhower Drive DR.., Key West, FL, 33040 | $4,750,000 | 6 | 5 | 3,788 | 3,788 SqFt |
| 1306 Virginia Street ST.., Key West, FL, 33040 | $1,369,000 | 3 | 2 | 1,428 | 1,428 SqFt |
| 1018 Georgia Street, Key West, FL, 33040 | $999,999 | -- | 3 | 1,452 | 1,452 SqFt |
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Nearby For Sale
ByOwner last updated this listing 06/19/2026 @ 15:07
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