1224 2nd Street, Key West, FL 33040 (MLS# 619703)

1224 2nd Street, Key West, FL 33040

$1,700,000
Property Type: Residential Bedrooms: 4 Baths: 4 Square Footage: 3,000 Lot Size (sq. ft.): 7,000 Status: Active
Current Price: $1,700,000 List Date: 5/01/2026 Last Modified: 9/25/2026

Overview

Description

Strong value-add multifamily fourplex investment opportunity with major capital improvements already completed. The property offers four two-bedroom residences totaling approximately 3,000 square feet, with each unit comprising approximately 750 square feet. The lower level includes two residences, while the upper level features two additional residences with approximately 960 square feet of combined balcony space. Major improvements include a new standing-seam metal roof, new impact-resistant windows and doors throughout, and completed concrete, stucco, and exterior work. The property is ready for the next owner to complete the remaining work and execute their preferred investment strategy. Once completed and delivered furnished, the property is projected to have the potential to generate more than $200,000 in annual gross rental income across all four units. Additional potential may include condominium conversion, subject to all applicable approvals and requirements. A ...

Listing Details MLS# 619703

Location, Tax & Legal

Street #
1224
Street Name
2nd
Street Suffix
Street
Key/Island
Key West
State/Province
FL
Zip Code
33040
County
Monroe
Subdivision
Sunshine Sub Plat 3 (3.0)
Area
03 - Key West

Contract Information

Listing Board
Key West Association

General Property Description

Realtor.COM Type
Multi-family
Style
Multi-Units
Waterfront
No
Pool
No
Year Built
1950
Lot SqFt
7000
Acres
0.16
Living Apx SqFt
3000
SqFt Source
Property Data Card
Total Bedrooms
4
Full Baths
4
Total Baths
4
Rentals Allowed
With Restrictions

Association Info

Mandatory Home Owners Asc
No
1st Right of Refusal
No

Building Style

Above Flood
Unknown

More Information

Property Features

Fee Includes: None Tax Exemptions: None Waterfront: None Waterview: No Waterview Dockage: None Building Style: Other Bldg Style Utilities: Buyer to Verify Appliances: Oven Construction: Combo Construction Roof: Metal Roof Pets: Pets Allowed Land Size: Less Than 1/4 Acre
Listing Office: Ocean Sotheby's International Realty
Last Updated: September - 25 - 2026
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.
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