1501 Truman Avenue, Key West, FL 33040 (MLS# 621522)

1501 Truman Avenue, Key West, FL 33040

$3,750,000
Property Type: Commercial Sale Bedrooms: 4 Baths: 4 Square Footage: 2,214 Lot Size (sq. ft.): 4,364 Status: Active
Current Price: $3,750,000 List Date: 10/07/2026 Last Modified: 10/07/2026

Overview

Description

Exceptional Key West Investment Opportunity with 3 Transient Licenses. The property consists of four private one bedrooms, one bath units, each featuring its own kitchen, living area, bedroom, and full bathroom. Most importantly, three of the four units benefit from transient rental licenses allowing nightly rentals, an increasingly rare and valuable asset in the Key West market. The fourth unit is currently rented monthly. Guests enjoy a shared private courtyard with a swimming pool, creating an inviting tropical setting and a desirable amenity for vacation renters. The property also offers three parking spaces, an added convenience in Key West. Renovated in 2018, the units blend classic Key West character with modern updates. Features include Dade County pine, engineered wood flooring, granite countertops, updated kitchen cabinetry and appliances, along with updated plumbing and electrical systems. Each unit is designed to operate independently, making the property well suited for co ...

Listing Details MLS# 621522

Location, Tax & Legal

Street #
1501
Street Name
Truman
Street Suffix
Avenue
Key/Island
Key West
State/Province
FL
Zip Code
33040
Subdivision
The Meadows (1.0)
County
Monroe
Area
01 - Key West

Contract Information

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

General Property Description

Realtor.COM Type
Commercial
Style
Commercial
Lot SqFt
4364
Waterfront
No
# Parking Spaces
3
Off Street Parking
3
# Stories
2
Total # Buildings
Yes
Building SqFt
2214
SqFt Source
Property Data Card
Living Apx SqFt
2214
Total Units
4
Year Built
1928
Total Bedrooms
4
Full Baths
4
Total Baths
4

License Info

# of City License
4
# of County License
4
# of Transient Licns
3

Association Info

Mandatory Home Owners Asc
No
1st Right of Refusal
No

More Information

Property Info

# Kitchens
4
# Refrigerators
4
# Range/Ovens
4
# Washers
Yes
# Dryers
Yes
1 Bed/Bath
4

Auction Info

Auction
No

Financial Status

Bank Owned
No
Potential Short Sale
No

Property Features

Deed Restrictions: No Type: Other Comrcl Style Waterfront: None Waterview: No Waterview Dockage: None Vehicle Storage: Guest Parking; Off Street Parking Cooling: Wall/Window Unit(s) Utilities: FKAA Interior Features: Furnished; Smoke Alarms Appliances: Dryer; Refrigerator; Washer Miscellaneous: Pool Construction: Frame Electric: Other Electric Shutters: Other Floor: Combo; Laminate; Tile Roof: Metal Roof Land Size: Less Than 1/4 Acre Fee Includes: None Title: Negotiable Property Rights: Multi-Use/Commercial
Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty
Last Updated: October - 07 - 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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