928 Truman Ave Unit 101, Key West, FL 33040

$1,500,000
: 8
BD
: 5
BA
: 1,830
SqFt

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Sold Price: $1,500,000
List Price: $1,580,000
Closing Date: Dec 23, 2025
MLS#: 613024
Style: Other
Status: CLOSED
Island: Key West
County: Monroe
City: Key West
Area: Key West
Subdivision: GG Watson Sub (1.0)
Neighborhood: Old Town-S of Truman
Bedrooms: 8
Bathrooms: 5
Living Area: 1,830
Acres: 0.09
Year Built: 1959
Days on Market: 349

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Property Description

Old Town Multi-Use Property Located on Truman Avenue, this versatile property offers both reliable income and future potential. Currently comprised of five legal long-term rental apartments, it's an excellent option for investors seeking steady cash flow or employee housing. Unit 101, a CBS structure, also offers potential for commercial conversion (buyer to verify), while the remaining apartments continue generating income. Property Highlights: 8 Bedrooms / 5 Bathrooms $11,650 Monthly Rental Income Net Income: $112,461.46 (includes management fees) 7.12% Cap Rate at $1.58M Located in an X Flood Zone This is currently the lowest-priced multi-unit property in Old Town with 5 legal units in an X flood zone, making it a standout opportunity. Blend dependable rental income with strong investment returns.

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Additional Information

Taxes: $9,425
Appliances: Other, Refrigerator, Oven
Exterior Features: Shed, Storage
Roof: Metal, Concrete
Zoning: HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med
Terms: Cash, Conventional