About 928 Truman Avenue
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.
Features of 928 Truman Avenue
| MLS® # | 613025 |
|---|---|
| Price | $1,580,000 |
| Bedrooms | 8 |
| Bathrooms | 5.00 |
| Full Baths | 5 |
| Year Built | 1959 |
| Type | Commercial Sale |
| Sub-Type | Commercial |
| Status | Contingent/Show |
Community Information
| Address | 928 Truman Avenue |
|---|---|
| Area | 02 - Key West |
| Subdivision | GG Watson Sub (1.0) |
| City | KEY WEST |
| County | Monroe |
| State | FL |
| Zip Code | 33040 |
Amenities
| Utilities | FKAA, Buyer to Verify |
|---|---|
| View | No Waterview |
| Is Waterfront | No |
| Waterfront | None |
Interior
| Appliances | Refrigerator, Range |
|---|---|
| Heating | Central Air, Wall/Window Unit(s) |
| # of Stories | 2 |
Exterior
| Lot Description | Less Than 1/4 Acre |
|---|---|
| Windows | Other Windows/Doors, Impact Rstnce Window |
| Roof | Metal Roof, Combo Roof, Concrete Roof |
| Construction | CBS, Combo Construction, Stucco, Concrete |
Additional Information
| Date Listed | January 8th, 2025 |
|---|---|
| Days on Market | 279 |
| Zoning | HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med |
| Short Sale | No |
| RE / Bank Owned | No |
| HOA Fees | 0.00 |
Listing Details
| Agent | Allison Findlay |
|---|---|
| Office | Preferred Properties (KW) |