1218 Duval Street, Key West - Offered For Sale at $1,845,000
Location, Location, Location! Duval street property consisting of 2 buildings with 4 residential units and 1 high-visibility commercial unit. Over 3000 Sq Ft of Air-conditioned space and more than 1000 Sq Ft of covered porches with a fantastic view of the Atlantic ocean. Situated on a large lot with parking for 4+ cars and a tropically landscaped pool area. Property is in a receivership zone for City of Key West transient licenses and has had many recent upgrades.
The Monroe County Property Appraiser shows this property as having 3084 sq ft of interior living space situated on a 68' X 100' lot. The property is located about 70 feet north of United Street in a block which is a mix of restaurants, shops, and residential uses. There are spaces for off street parking on either side of the property. The property enjoys a dominant presence in this section of Old Town.
The front building has retail usage on the front side of the ground floor. There is an apartment on the rear side which has a large covered rear porch. There is also a second floor apartment which has front and rear porches.
A new owner might convert the historic front building into a large single family home which could be rented as a luxury monthly vacation rental. The two rear apartments could be likewise upgraded and made into small luxury rentals. On the other hand, the current use works. I did not see any noticeable deferred maintenance. So a new owner might just consider keeping things the way they are but maybe carving out one space for personal use.
CLICK HERE to view the Key West mls datasheet and to view listing photos. Please call me, Gary Thomas, 305-766-2642, to schedule a private showing before this incredible property gets snapped up by someone else. I am a buyers agent and a full time Realtor at Preferred Properties Key West.