704 Caroline Street, Key West, FL 33040 (MLS# 611509)

704 Caroline Street, Key West, FL 33040

$1,750,000

First floor unit #1 living room and entrance to bedroom

First floor unit #1 bedroom with lock-out storage to unit #3

Separate private entrance to first floor unit #3

First floor unit #3 living room & dining area

First floor unit #3 living room & kitchen

First floor unit #3 living room & kitchen, & entrance to bathroom

First floor unit #3 living room with entrance to bedroom

First floor unit #3 bedroom with lock-out storage to unit #1

First floor unit #3 bedroom with built-ins

First floor foyer. Beautiful wood door with leaded glass is the private entrance to upstairs unit #2

Second floor unit #2 living room with built-ins

Second floor unit #2 living room with beautiful woodwork

Second floor unit #2 living room with staircase to third floor

Second floor unit #2 bathroom. Incredible woodwork & stained glass.

Second floor unit #2 landing & door to front porch

Second floor unit #2 master bedroom & built-ins

Third floor unit #2 loft/office & entrance to widow's walk

Third floor unit #2 loft/office & entrance to guest bedroom

Third floor unit #2 storage & entrance to guest bedroom

First floor front porch facing Caroline St.

Property Type: Residential Bedrooms: 4 Baths: 5 Square Footage: 2,080 Lot Size (sq. ft.): 1,925 Status: Closed

Current Price: $1,750,000 List Date: 9/19/2024 Last Modified: 8/05/2025

Overview

Description

Triplex investment property! Prime location only 1 block from the historic Key West seaport and 2 blocks from Duval St. The downstairs offers 2 units which include a 1/1 with kitchenette and a 1/1 with full kitchen. Enjoy the front porch facing Caroline St. or spend a lazy afternoon lounging by the dip pool in the backyard. Ascend the gorgeous wooden staircase to the upstairs unit which includes the 2nd and 3rd floors and has many features reminiscent of an old ship accented by beautifully detailed wood trim. This 2/3 unit includes hardwood floors, stained glass details, a loft/office, a front porch for relaxing, a small back porch overlooking the pool, and a unique widow's walk where you can enjoy a bit of privacy in the treetops. The kitchen includes a built-in water filtration system, the master bedroom is a generous size, and you'll find storage galore throughout the home with built-ins, nooks, and crannies. This historic home has high ceilings throughout, and the windows (except skylights) are hurricane rated. The owners currently live in the upstairs unit and use the first-floor units as monthly vacation rentals. Any of the units could be used as long-term rentals, or the property could potentially be converted into an up/down duplex or returned to its original configuration as a single-family home. Enjoy the close proximity to all the amenities this great location offers in Old Town. This historic gem is awaiting your vision.

Listing Details MLS# 611509

Location, Tax & Legal

Street #: 704
Street Name: Caroline
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
County: Monroe
Subdivision: Old Town - Unrecord (1.0)
Area: 01 - Key West
KW Neighborhood: Old Town-N of Truman
City: KEY WEST
Off Shore Island: No
Mile Marker: 1
Marathon Neighborhood: N/A
Side: Bay/Gulf
Flood Zone: AE
Alternate Key #: 1003824
Handicap Access: No
Parcel #: 00003660-000000
Zoning: HMDR - Historic Medium Density Residential
Deed Restrictions: Unknown
Legal: KW PT LOT 3 SQR 22 G11-211 G59-334 OR15-446 OR98-455 OR231-255/56 OR337-127 OR466-260/61 OR650-90 OR792-1151 OR952-1771
Taxes: 11490.94
Tax Year: 2023
Pub Sewer HkUp: Yes

Contract Information

Listing Board: Key West Association
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Species List: No

General Property Description

Realtor.COM Type: Multi-family
Style: Multi-Units
Waterfront: No
Pool: Yes
Year Built: 1928
Total Units: 3
Lot SqFt: 1925
Lot Sqft Source: Property Data Card
Acres: 0.04
Living Apx SqFt: 2080
SqFt Source: Property Data Card
Total Bedrooms: 4
Full Baths: 5
Total Baths: 5
Rentals Allowed: With Restrictions
Min Rental Days: 28
Control Depth: 0

Status Change Info

Sold Date: 2025-08-05

Association Info

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

License Info

# of City License: Yes
Non Trans Rntl Lic: Yes

More Information

Building Style

Above Flood: Yes
Stories: 3 Stories
Conch: Yes

Financial Status

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

Remarks & Misc

Remarks – Consumer: Triplex investment property! Prime location only 1 block from the historic Key West seaport and 2 blocks from Duval St. The downstairs offers 2 units which include a 1/1 with kitchenette and a 1/1 with full kitchen. Enjoy the front porch facing Caroline St. or spend a lazy afternoon lounging by the dip pool in the backyard. Ascend the gorgeous wooden staircase to the upstairs unit which includes the 2nd and 3rd floors and has many features reminiscent of an old ship accented by beautifully detailed wood trim. This 2/3 unit includes hardwood floors, stained glass details, a loft/office, a front porch for relaxing, a small back porch overlooking the pool, and a unique widow's walk where you can enjoy a bit of privacy in the treetops. The kitchen includes a built-in water filtration system, the master bedroom is a generous size, and you'll find storage galore throughout the home with built-ins, nooks, and crannies. This historic home has high ceilings throughout, and the windows (except skylights) are hurricane rated. The owners currently live in the upstairs unit and use the first-floor units as monthly vacation rentals. Any of the units could be used as long-term rentals, or the property could potentially be converted into an up/down duplex or returned to its original configuration as a single-family home. Enjoy the close proximity to all the amenities this great location offers in Old Town. This historic gem is awaiting your vision.

Fee Includes

None: Yes

Dockage

None: Yes

Tax Exemptions

Homestead: Yes

Appliances

Dishwasher: Yes
Disposal: Yes
Dryer: Yes
Freezer: Yes
Microwave: Yes
More Appliances: Yes
Oven: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes
Water Purification: Yes

Pets

Pets Allowed: Yes

Cooling

Ceiling Fans(s): Yes
Central Air: Yes
Ductless: Yes

Heating

Heat Pump: Yes

Waterfront

None: Yes

Waterview

No Waterview: Yes

Floor

Tile: Yes
Wood: Yes
Other: Yes

Interior Features

Built-in Cabinets: Yes
Cathedral Ceilings: Yes
Drapes/Blinds Incl: Yes
Entrance Foyer: Yes
Granite Counter Top: Yes
Sky Light(s): Yes

Specialty Rooms

Loft: Yes

Windows/Doors

Impact Rstnce Window: Yes

Construction

Frame: Yes

Land Size

Less Than 1/4 Acre: Yes

Furnished

Negotiable: Yes

Terms

Cash: Yes
Conventional: Yes
FHA: Yes
VA: Yes

Utilities

Cable Available: Yes
FKAA: Yes
Municipal Sewer: Yes

Porch/Balcony

Deck: Yes
Open Porch/Balcony: Yes
Widow's Walk: Yes

Title

Negotiable: Yes

Pool Info

In Ground: Yes
Decked: Yes

Pre-Wired

Cable: Yes
Surround Sound: Yes

Roof

Metal Roof: Yes

Shutters

Panel: Yes

Property Features

Fee Includes: None Tax Exemptions: Homestead License Info: Non Trans Rntl Lic Waterfront: None Waterview: No Waterview Dockage: None Building Style: Conch Furnished: Negotiable Cooling: Ceiling Fans(s); Central Air; Ductless Heating: Heat Pump Utilities: Cable Available; FKAA; Municipal Sewer Interior Features: Built-in Cabinets; Cathedral Ceilings; Drapes/Blinds Incl; Entrance Foyer; Granite Counter Top; Sky Light(s) Pre-Wired: Cable; Surround Sound Specialty Rooms: Loft Appliances: Dishwasher; Disposal; Dryer; Freezer; Microwave; More Appliances; Oven; Range; Refrigerator; Washer; Water Purification Pool Info: In Ground; Decked Construction: Frame Shutters: Panel Floor: Tile; Wood; Other Roof: Metal Roof Pets: Pets Allowed Land Size: Less Than 1/4 Acre Terms: Cash; Conventional; FHA; VA Title: Negotiable

Documents

Homeowners Insurance ›

Citizens Wind Insurance ›

Sellers' Disclosure ›

Improvements & Upgrades ›

Sellers' Flood Disclosure ›

Listing Office: eXp Realty LLC

Last Updated: August - 05 - 2025

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.