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$1,700,000

  • For Sale
  • Active
  • Multi-Family
  • 0.16 Acres
  • Updated 9 hours ago
See This Home
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Strong value-add multi-family fourplex investment opportunity with major improvements already completed. The heavy lifting has been done, including a new roof, brand-new windows, and updated concrete throughout, setting the stage for the next owner to bring the project to completion. Once finished and delivered furnished, the property has the potential to generate over $200,000 in annual income across all four units. Additional upside includes the option to condo-convert, with projected rental income of approximately $6,000/month for the lower units and $7,000/month for the upper. An ideal opportunity for an investor looking to step into a project with reduced risk, immediate upside, and strong income potential. A rare chance to step in, complete the project, and capture the upside of a fully optimized, income-producing asset.

Full Property Details for 1224 2nd St

General

  • Price: $1,700,000
  • Taxes: $10,119 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: 927
  • MLS ID: 619703
  • Updated: 5/13/2026
  • Added to Site: 13 day(s) ago

Interior

  • Appliances: Oven

Rooms

Bathrooms

  • Total Bathrooms: 4
  • Full Bathrooms: 4

Bedrooms

  • Total Bedrooms: 4

Location

  • Area: 03 - Key West
  • County: Monroe
  • Subdivision: Sunshine Sub Plat 3 (3.0)

Community

  • Assoc. Fees Include: None
  • Pets Allowed: Yes

Structural Information

  • Architectural Style: Above Flood, Other Bldg Style
  • Construction: Combo Construction
  • Roof: Metal
  • Square Feet: 3,000
  • Sq. Ft. Source: Property Data Card
  • Year Built: 1950

Lot Features

  • Property View: No Waterview
  • Lot Size (Acres): 0.16
  • Lot Size (Sq. Ft.): 7,000
  • Lot Dimensions: 70 x 100
  • Zoning: MDR-1 - Medium Desnity Residential

Water Features

  • Water View: Yes

Financial Considerations

  • Tax Amount: $10,119.76
  • Tax Year: 2025

Disclosures and Reports

  • Legal Description: BK 1 LOT 5 SUNSHINE SUB PLAT NO 3 PB2-169 OR51-144 OR438-196 OR561-579 OR592-336 OR845-437 OR1188-247 OR1686-928 OR3167-
  • Flood Zone: AE
  • APN: 00051450-000000

Listed by Ocean Sotheby's International Realty, Jenna Stauffer (260) 433-2319

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Listing agent

— 1224 2nd St —

  • Jenna Stauffer

    Ocean Sotheby's International Realty

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 1224 2nd St

School District:Monroe County School District, Middle Torch Key, FL
NameGradesDistance
Horace O'bryant School
1105 Leon Street, Key West, FL 33040
6-80.3 mi
Key West High School
2100 Flagler Avenue, Key West, FL 33040
9-120.4 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1224 2nd St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
5/01/2026
Listed
$1,700,000
70%
MLS
4/11/2022
Sold
$1,000,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 1224 2nd St

Year
Property Taxes
Change
Tax Assessment
Change
2024
$9,552
—
$955,892
3%
2024
$9,552
1%
$927,282
3%
2023
$9,430
28%
$904,539
41%
2021
$7,339
-8%
$642,735
-23%
2022
$7,989
9%
$830,844
30%
2021
$7,339
11%
$639,916
14%
2019
$6,602
-5%
$559,134
-4%
2018
$6,927
4%
$582,530
2%
2017
$6,647
—
$573,732
—
2016
$6,627
7%
$573,265
31%
2015
$6,200
7%
$437,664
10%
2014
$5,808
-1%
$397,877
—
2013
$5,840
—
$397,219
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 1224 2nd St

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Listed by Ocean Sotheby's International Realty, Jenna Stauffer (260) 433-2319

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1224 2nd Street, Key West, FL 33040 (MLS# 619703) is a Multi-Family property with 0 units containing 4 bedrooms and 4 full bathrooms. 1224 2nd Street is currently listed for $1,700,000 and was received on May 01, 2026. Want to learn more about 1224 2nd Street? Do you have questions about finding other Multi-Family real estate for sale in Key West? You can browse all Key West real estate or contact a Coldwell Banker agent to request more information.

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