Old Town Multi-Use PropertyLocated 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 IncomeNet Income: $112,461.46 (includes management fees)7.12% Cap Rate at $1.58MLocated in an X Flood ZoneThis 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.
Under contract
Price cut: $20K (8/20)
$1,580,000
928 Truman Ave #101, Key West, FL 33040
8beds
1,830sqft
Est.:
Multi Family
Built in 1959
-- sqft lot
$-- Zestimate®
$863/sqft
$-- HOA
What's special
- 268 days |
- 35 |
- 1 |
- Loading