1803-1805 Atlantic Boulevard, Key West, FL 33040
$2,400,000
Property Type:
Residential
Bedrooms:
13
Baths:
12
Square Footage:
6,480
Lot Size (sq. ft.):
9,250
Status:
Closed
Current Price:
$2,400,000
List Date:
10/08/2021
Last Modified:
8/24/2024
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.
More Information MLS# 597772
Contract Information
Listing Board: Marathon/Lower Keys
Current Price: $2,400,000
Listing Date: 2021-09-10
Sold Price: $2,400,000
Location, Tax & Legal
KW Neighborhood: Midtown West
City: KEY WEST
Mile Marker: 2
Marathon Neighborhood: N/A
Side: Ocean
Flood Zone: AE,AE
Alternate Key #: 1062600
Add'l Parcel #1: 1062618
Parcel #: 00062200-000000
Zoning: MDR-1 - Medium Desnity Residential
Deed Restrictions: Unknown
Legal: KW DIAG PB 1-13 LOT 1 SQR 1 TR 30 OR137-440/441 OR225-39/40 OR233-543 OR625-178/79 OR765-1643-44 OR1721-116 OR1987-1910/
Taxes: 13707.17
Tax Year: 2020
Pub Sewer HkUp: Yes
Street #: 1803-1805
Street Name: Atlantic
Street Suffix: Boulevard
Key/Island: Key West
State/Province: FL
Zip Code: 33040
County: Monroe
Subdivision: New Town - Unlisted (2.0)
Area: 03 - Key West
General Property Description
Realtor.COM Type: Multi-family
Waterfront: No
Control Depth: 0
Lot SqFt: 9250
Pool: Yes
Total Units: 0
Acres: 0.11
SqFt Source: Property Data Card
Rentals Allowed: With Restrictions
Style: Multi-Units
Year Built: 1975
Living Apx SqFt: 6480
Total Bedrooms: 13
Full Baths: 12
Total Baths: 12
Remarks & Misc
Remarks – Consumer: 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.
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Association Fee $: 0
Fee Includes
Other: 1
Dockage
None: 1
Tax Exemptions
Homestead: 1
Appliances
Refrigerator: 1
Washer: 1
Pets
Pets Allowed: 1
Cooling
Central Air: 1
Waterfront
None: 1
Waterview
No Waterview: 1
Property Condition
Updated/Remodeled: 1
Building Style
Above Flood: Unknown
Vehicle Storage
Assigned Parking: 1
Construction
CBS: 1
Land Size
1/4 - 1/2 Acre: 1
Utilities
Buyer to Verify: 1
FKAA: 1
Porch/Balcony
Deck: 1
Open Porch/Balcony: 1
Patio: 1
Pool Info
In Ground: 1
Roof
Metal Roof: 1
Status Change Info
Sold Date: 2022-02-23
Sold Price: $2,400,000
Status: Closed
Property Features
Fee Includes: Other
Tax Exemptions: Homestead
Waterfront: None
Waterview: No Waterview
Dockage: None
Property Condition: Updated/Remodeled
Vehicle Storage: Assigned Parking
Cooling: Central Air
Utilities: Buyer to Verify; FKAA
Appliances: Refrigerator; Washer
Pool Info: In Ground
Construction: CBS
Roof: Metal Roof
Pets: Pets Allowed
Land Size: 1/4 - 1/2 Acre
Documents
1803 1805 Atlantic Offering ›
Listing Office:
Internet Realty of the Florida Keys
Last Updated: August - 24 - 2024
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.