1224 2nd St

Key West, FL 33040

$1,700,000
Price
4
Beds
3,000 Sq. Ft.
$567 / Sq. Ft.
3,000
Sq. Ft.
$567
per Sq. Ft.
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Exterior neighborhood
1224 2nd Street
Exterior front
1224 2nd Street
1224 2nd Street
1224 2nd Street
Downstairs unit
downstairs unit
1224 2nd Street
1224 2nd Street
1224 2nd Street
1224 2nd Street
1224 2nd street
1224 2nd Street
1224 2nd Street
1224 2nd Street
1224 2nd Street
1224 2nd Street
1224 2nd St_1oakstudiosdrone_10

Description

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...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.
  1. Listed by Jenna Stauffer • Ocean Sotheby's International Realty

Property Details for 1224 2nd Street

Waterfront
None
Waterfront
No
Zoning
MDR-1 - Medium Desnity Residential
Subdivision
Sunshine Sub Plat 3 (3.0)
Building Style
Other Bldg Style
Pets
Pets Allowed
LISTING UPDATED: 05/01/2026 06:17 AM

Property Details for 1224 2nd Street

StatusActive
MLS #619703
Days on Market7
Taxes$10,120 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential / Multi-Units
Year Built1950
Lot Size0.16 AC / 7,000 SF
CountyMonroe County
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Location

Listing Courtesy of Ocean Sotheby's International Realty
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Building Information for 1224 2nd Street

Stories-Residences-Year Built1950Building Size-Lot Size0.16 AC / 7,000 SF

Payment Calculator

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$9,404 per month

30 year fixed, 6.46% Interest

Principal and Interest

$8,560

Property Taxes

$843

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 1224 2nd Street

Summary
Location and General Information
  • Waterview: No Waterview
  • Area: 03 - Key West
  • Absolute Longitude: 81.781611
  • Control Depth: 0
  • Listing Board: Key West Association
  • Side: Bay/Gulf
  • KW Neighborhood: New Town
  • Mile Marker: 3.0
  • Marathon Neighborhood: N/A
  • Key/Island: Key West
Taxes and HOA Information
  • Association Info: Mandatory Home Owners Asc: No
  • Association Info: 1st Right of Refusal: No
  • Fee Includes: None
  • Tax Year: 2025
  • Tax Exemptions: None
Property
Lot Information
  • Lot Size: 70 X 100
  • Acres: 0.16
  • Parcel #: 00051450-000000
  • Land Size: Less Than 1/4 Acre
Property and Assessments
  • Legal: 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-
  • MLS Approved: Y
  • SqFt Source: Property Data Card
  • Flood Zone: AE
  • Rentals Allowed: With Restrictions
  • Deed Restrictions: Unknown
  • Picture Count: 19
  • Document Count: 0
  • Building Style: Above Flood: Unknown
Utilities
  • Utilities: Buyer to Verify
  • Pub Sewer HkUp: Yes
  • Pool: No
Interior and Exterior Features
Interior Features
  • Appliances: Other: YES
  • Appliances: Oven
Exterior Features
  • Roof: Metal Roof
  • Construction: Combo Construction
  • Dockage: None

Property History for 1224 2nd Street

DateEvent & SourcePriceAppreciation
May 1, 2026

Listed (Active)

FKMLS #619703

$1,700,000—
Apr 11, 2022

Sold (Public Record)

Public Record #1488544328

$1,000,000—
DateEvent & SourcePrice
05/01/2026

Listed (Active)

FKMLS #619703

$1,700,000
04/11/2022

Sold (Public Record)

Public Record #1488544328

$1,000,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1224 2nd Street

Taxable ValueLand$549,990Additions$405,902Total$955,892
Tax Record2024$9,552 ($796 / month)
Home Facts
Baths4Total Finished SqFt3,000 SqFtAbove Grade Finished SqFt3,000 SqFtStories2Lot Size7,000 SqFtStyleMulti-Family Dwelling (2-4)Year Built1950Year Renovated2000CountyMONROEAPN00051450-000000

Schools near 1224 2nd Street

This home is within Monroe.
Rating
School
Type
Grades
Distance
Horace O'bryant School
Public - PK to 8
Key West High School
Public - 9 to 12
Somerset Island Prep
Charter - 9 to 12
Keys Center
Public - 8 to 12
Rating
School
Distance
Horace O'bryant School
PublicPK to 8

Key West High School
Public9 to 12

Somerset Island Prep
Charter9 to 12

Keys Center
Public8 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1224 2nd Street, Key West, FL 33040

1224 2nd Street is a multi-family home for sale in Key West, FL 33040. This property was listed for sale on May 1, 2026 by Ocean Sotheby's International Realty, it's currently listed at $1,700,000. It has been on the market for a total of 7 days and was last sold on April 11, 2022. This listing's school district is Monroe. Nearby schools include Horace O'bryant School, Key West High School and Somerset Island Prep. 1224 2nd Street is a 4-bed, 4-bath, 3,000 sqft multi-family home built in 1950.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Ocean Sotheby's International Realty

Based on information from one of the following Multiple Listing Services: Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.