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3729 Paula Avenue, Key West, FL 33040

$695,000
Property Type: Residential Bedrooms: 3 Baths: 2 Square Footage: 1,359 Lot Size (sq. ft.): 5,500 Status: Active
Current Price: $695,000 List Date: 11/07/2025 Last Modified: 11/07/2025

Description

Unlock the potential of this prime property located in the highly sought-after New Town Key West. Situated on a spacious 5,500 sq ft lot, this single-level home offers over 1,300 sq ft of air-conditioned living space, including three bedrooms and a versatile sunroom that can serve as a fourth bedroom. With ample room for an in-ground pool, a full bath, and a half guest bath, this property is perfect for maximizing rental income or creating a luxurious retreat. Built in 1963, the home features durable concrete construction and timeless mid-century modern design, ensuring long-term value and appeal. The large covered parking area accommodates multiple vehicles, making it ideal for tenants or guests, and can double as an entertainment space. This property is zoned for both monthly and long-term rentals, offering investors a lucrative opportunity in one of Florida's most desirable destinations. Whether you're looking to add a turnkey rental to your portfolio or undertake a full renovation to increase value, this property provides unmatched flexibility. As a short sale, this is a rare chance to acquire a valuable asset at a competitive price. Listed at $695,000, all offers are subject to lender approval. Don't miss out on this incredible investment opportunity in Key West—submit your offer today!

More Information MLS# 617224

Contract Information

Listing Board: Key West Association Potential Short Sale: Yes Bank Owned: No Current Price: $695,000 Listing Date: 2025-11-07 List Price: $695,000

Location, Tax & Legal

KW Neighborhood: New Town City: KEY WEST Mile Marker: 4 Marathon Neighborhood: N/A Side: Median Flood Zone: AE,AE Alternate Key #: 1055492 Parcel #: 00054900-000000 Zoning: SF - Single Family Deed Restrictions: Unknown Legal: REPLAT OF BLOCK 3 PEARLMAN ESTATES KW PB3-171 LOT 18 BLK 3 OR263-110 OR540-67 OR2043-2323/2324(ORDER) OR2051-417 OR2051 Taxes: 5585.96 Tax Year: 2024 Pub Sewer HkUp: Yes Street #: 3729 Street Name: Paula Street Suffix: Avenue Key/Island: Key West State/Province: FL Zip Code: 33040 County: Monroe Subdivision: Pearlman Est (4.0) Area: 04 - Key West

General Property Description

Realtor.COM Type: Residential - Single Family Waterfront: No Control Depth: 0 Lot SqFt: 5500 Pool: No Total Units: 0 Acres: 0.13 SqFt Source: Tax Records Rentals Allowed: Yes Min Rental Days: 28 Style: Single Family Year Built: 1963 Living Apx SqFt: 1359 Total Bedrooms: 3 Full Baths: 1 Half Baths: 1 Total Baths: 2

Remarks & Misc

Remarks – Consumer: Unlock the potential of this prime property located in the highly sought-after New Town Key West. Situated on a spacious 5,500 sq ft lot, this single-level home offers over 1,300 sq ft of air-conditioned living space, including three bedrooms and a versatile sunroom that can serve as a fourth bedroom. With ample room for an in-ground pool, a full bath, and a half guest bath, this property is perfect for maximizing rental income or creating a luxurious retreat. Built in 1963, the home features durable concrete construction and timeless mid-century modern design, ensuring long-term value and appeal. The large covered parking area accommodates multiple vehicles, making it ideal for tenants or guests, and can double as an entertainment space. This property is zoned for both monthly and long-term rentals, offering investors a lucrative opportunity in one of Florida's most desirable destinations. Whether you're looking to add a turnkey rental to your portfolio or undertake a full renovation to increase value, this property provides unmatched flexibility. As a short sale, this is a rare chance to acquire a valuable asset at a competitive price. Listed at $695,000, all offers are subject to lender approval. Don't miss out on this incredible investment opportunity in Key West—submit your offer today!

Association Info

Mandatory Home Owners Asc: No 1st Right of Refusal: No Association Fee $: 0

Fee Includes

None: 1

Dockage

None: 1

Tax Exemptions

None: 1

Appliances

Dishwasher: 1 Microwave: 1 Oven: 1 Refrigerator: 1 Washer: 1

Pets

Pets Allowed: 1

Cooling

Wall/Window Unit(s): 1

Heating

None: 1

Waterfront

None: 1

Waterview

No Waterview: 1

Interior Features

Other: 1

Property Condition

Fixer Upper: 1

Building Style

Above Flood: Yes Stories: 1 Story

Vehicle Storage

Car(s): 2 Carport: 1 Covered Parking: 1 Off Street Parking: 1

Construction

Concrete: 1

Land Size

Less Than 1/4 Acre: 1

Furnished

Unfurnished: 1

Terms

Cash: 1 Conventional: 1 No Seller Finance: 1 VA: 1

Utilities

Elect Separate Meter: 1 FKAA: 1 Municipal Sewer: 1 Water Separate Meter: 1

Title

Title Ins - Seller: 1

Exterior Features

Fencing: 1

Financial Status

Bank Owned: No Potential Short Sale: Yes Standard Sale: No

Status Change Info

Status: Active

Property Features

Fee Includes: None Tax Exemptions: None Waterfront: None Waterview: No Waterview Dockage: None Property Condition: Fixer Upper Vehicle Storage: Carport; Covered Parking; Off Street Parking Furnished: Unfurnished Cooling: Wall/Window Unit(s) Heating: None Utilities: Elect Separate Meter; FKAA; Municipal Sewer; Water Separate Meter Interior Features: Other Appliances: Dishwasher; Microwave; Oven; Refrigerator; Washer Exterior Features: Fencing Construction: Concrete Pets: Pets Allowed Land Size: Less Than 1/4 Acre Terms: Cash; Conventional; No Seller Finance; VA Title: Title Ins - Seller
Listing Office: Realty ONE Group Destination
Last Updated: November - 07 - 2025
Broker Attribution: rogdestination@gmail.com

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.