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1409 Truman Ave 1,932 SF Specialty Building Offered at $1,299,000 at a 12.17% Cap Rate in Key West, FL 33040
Investment Highlights
- Across from Bayview park and amenities
- Centrally located in Key West.
- 15min. walk, 6 min. bike ride, 4 min. car ride to Duval St.
Executive Summary
This home offers a unique opportunity for flexible living or investment! Currently configured as a single-family residence, it has been approved by the City of Key West to be reverted back to a Multi-family, allowing for up 2 units. Easily convert the home back to a duplex. Welcome to 1409 Truman Avenue, a stunning Key West Eyebrow home that combines historical charm with modern amenities. The spacious layout and design make it easy to transition back to a mult-family configuration of a duplex. Each potential unit could offer comfortable living spaces, with the square footage allowing for a range of layouts to suit tenants' needs.
Based on comparable rentals in the area and the square footage of this property, each unit could command an estimated monthly rent of $3k to 6k monthly, each unit (seasonal variables) providing a lucrative investment opportunity. With the strong rental demand in Key West, this property is perfectly positioned to maximize its potential.
Whether you're looking to generate income, create a multi-generational living space, or invest in the vibrant Key West market, this property is a rare find. Contact us for more details and to schedule a showing. Contact information to verify reverting back to a multifamily approved per the city KW. Benjamin Gagnon City Planner II (305) 809-3884 benjamin.gagnon@cityofkeywest-fl.gov
Based on comparable rentals in the area and the square footage of this property, each unit could command an estimated monthly rent of $3k to 6k monthly, each unit (seasonal variables) providing a lucrative investment opportunity. With the strong rental demand in Key West, this property is perfectly positioned to maximize its potential.
Whether you're looking to generate income, create a multi-generational living space, or invest in the vibrant Key West market, this property is a rare find. Contact us for more details and to schedule a showing. Contact information to verify reverting back to a multifamily approved per the city KW. Benjamin Gagnon City Planner II (305) 809-3884 benjamin.gagnon@cityofkeywest-fl.gov
Property Facts
| Price | $1,299,000 | Property Subtype | Residential Income |
| Price Per SF | $672.36 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 12.17% | Building Size | 1,932 SF |
| Sale Condition | Redevelopment Project | No. Stories | 2 |
| Property Type | Specialty | Year Built/Renovated | 1943/2016 |
| Zoning | SFR - Single family or Multi family residential | ||
| Price | $1,299,000 |
| Price Per SF | $672.36 |
| Sale Type | Investment |
| Cap Rate | 12.17% |
| Sale Condition | Redevelopment Project |
| Property Type | Specialty |
| Property Subtype | Residential Income |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 1,932 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1943/2016 |
| Zoning | SFR - Single family or Multi family residential |
Amenities
- Air Conditioning
1 1
Walk Score®
Very Walkable (81)
Bike Score®
Biker's Paradise (99)
Property Taxes
| Parcel Number | 00024320-000000 | Improvements Assessment | $856,177 |
| Land Assessment | $833,735 | Total Assessment | $1,689,912 |
Property Taxes
Parcel Number
00024320-000000
Land Assessment
$833,735
Improvements Assessment
$856,177
Total Assessment
$1,689,912
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