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1803-1805 Atlantic Blvd

Key West, FL 33040
  • $2,995,000
  • STATUS: Active
  • ON SITE: 38 Days
  • MLS #: 597773
UPDATED: 57 min ago
$2,995,000
  • 13
    BEDS
  • 0.21
    ACRES
  • 12
    BATHS
  • 0
    1/2 BATHS
  • 6,480
    SQFT
  • $462
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1975
County:

School Ratings & Info

Description

Perfect 1031 Exchange! Priced to Sell!DO NOT MISS this 7 unit apartment complex that is centrally located steps to both Smathers and Higgs Beach and a 5 minutes bike ride to world Famous Duval st. The 3 building complex houses (1) 3bed/2bath, (4) 2bed/2 bath, and (2) 1bed/1bath, with one of the largest residential swimming pools in Key West. Interiors updated with marble countertops, tile floors, and recessed lighting. All master baths have Jacuzzi tubs. Each unit has individual laundry, utility meters and one assigned parking space. This will not last so call today! A pleasure to show, but 48 hour notice needed for inside Current cap rate 4.24% . Projected Cap Rate of 5.12% with simple rent increases. Huge ROI possible by converting to condominium. Gross Income of $192K with $51,244 insurances and $13,707 in taxes.

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The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Florida Keys MLS, Inc. Real estate listings held by brokerage firms other than The Mullins Team | Coldwell Banker Schmitt Real Estate Company are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.
www.lowerkeyshomes.com/homes/121517284
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1803-1805 Atlantic Blvd Key West, FL 33040

  • Price: $2,995,000
  • Status: Active
  • Updated: 57 min ago
  • MLS #: 597773
13
Beds
12
Baths
0
½ Baths
0.21
Acres
6,480
SQFT
$462
$/SQFT
1975
Built
Neighborhood:
Midtown West
County:
Monroe
Area:
03 - Key West
Property Description
Perfect 1031 Exchange! Priced to Sell!DO NOT MISS this 7 unit apartment complex that is centrally located steps to both Smathers and Higgs Beach and a 5 minutes bike ride to world Famous Duval st. The 3 building complex houses (1) 3bed/2bath, (4) 2bed/2 bath, and (2) 1bed/1bath, with one of the largest residential swimming pools in Key West. Interiors updated with marble countertops, tile floors, and recessed lighting. All master baths have Jacuzzi tubs. Each unit has individual laundry, utility meters and one assigned parking space. This will not last so call today! A pleasure to show, but 48 hour notice needed for inside Current cap rate 4.24% . Projected Cap Rate of 5.12% with simple rent increases. Huge ROI possible by converting to condominium. Gross Income of $192K with $51,244 insurances and $13,707 in taxes.
Exterior Features

Construction Cbs Dockage None Land Size 1/4 - 1/2 Acre Lot Size 100X92.50 Miscellaneous Pool Off Street Parking Yes 7 Parking Spaces 7 Side Median Style Commercial Waterfront None Waterfront YN No Waterview No Waterview

Interior Features

Appliances Refrigerator Cooling Heating Central A/C

Property Features

Assoc Hoa YN No Assoc Right Of Refusal No Bank Owned No Bank Owned Financial Status No City Key West Commercial Type Apartment 3 Or More Control Depth 0 Fee Includes None Key West Neighborhood Midtown West Listing Board Marathon/Lower Keys Mile Marker 2.00 Off Shore Island No Potential Short Sale No Potential Short Sale Financial Status No Property Type Multi-Family Sq Ft Source Property Data Card Tax Year 2020 Taxes 13707.17 Tenant Paid CableElectricWater Terms No Seller Finance Total Units 7.00 Utilities Buyer To VerifyFkaa Zoning Mdr-1 - Medium Desnity Residential

Listing courtesy of Mike Kane of Internet Realty Of The Florida Keys.


The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Florida Keys MLS, Inc. Real estate listings held by brokerage firms other than The Mullins Team | Coldwell Banker Schmitt Real Estate Company are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.
 
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The Mullins Team | Coldwell Banker Schmitt Real Estate Company
1201 White Street, Suite 101
Key West FL, 33040