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Sold for $1,400,000
  • $1,400,000

    2616 Patterson Ave, Key West, FL 33040

    8beds
    2,880sqft
    Multi Family
    Built in 1963
    -- sqft lot
    $1,343,100 Zestimate®
    $486/sqft
    $3,662 Estimated rent

    Home value

    $1,343,100

    $1.21M - $1.49M

    $3,662/mo

    Zestimate® history
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    $8,391/mo

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    What's special

    Solid metal roofComplete outside facelift
    LEGAL QUADPLEX SPECIAL! Located in the heart of the island, this TURNKEY four unit concrete FORTRESS features two 2/1 units up and two similar units down and has NEVER FLOODED. Recently completed upgrades include a complete outside facelift and new impact doors and windows, in addition to all new wiring from the street to the meters.From a solid metal roof to tile floors throughout - this building is top to bottom FLAWLESS. Did I mention there is plenty of on site parking?Ample room to add a pool and hot tub!!A savvy investor will purchase as a stable cash cow, a primary resident can occupy one unit through a 3.5% down FHA loan and collect solid rental income, or a creative builder could convert it to two duplexes and sell the highly sought after ROGO units. Whichever position you are in - DO NOT DELAY - this will not last. Seller is motivated and ready to make a deal. Recent appraisal in HAND.

    Zillow last checked:

    Listing updated:

    Listed by:

    Mike Kane 703-962-0720,

    Internet Realty of the Florida Keys

    Bought with:

    Louis Condos, 3207946

    Berkshire Hathaway HomeServices Knight & Gardner Realty

    Mary Jo Rostien, 3207882

    Berkshire Hathaway HomeServices Knight & Gardner Realty

    Source: FLKMLS,MLS#: 616054MLS LogoOriginating MLS: Marathon/Lower Keys

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 8
    • Bathrooms: 4
    • Full bathrooms: 4
    Appliances
    • Included: Range
    Interior area
    • Total interior livable area: 2,880 sqft

    Property

    Features
    • Levels: Multi/Split
    • Water view: None
    • Waterfront features: None, Dockage: None
    Lot
    • Size: 4,791 sqft
    • Features: Less Than 1/4 Acre
    Details
    • Parcel number: 00050740000000
    • Zoning: SF
    • Zoning description: Single Family

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    Materials
    • Concrete
    • Roof: Metal
    Condition
    • Year built: 1963

    Utilities & green energy

    • Sewer: Public Sewer
    • Utilities for property: FKAA, Buyer to Verify

    Community & neighborhood

    Location
    • Region: Key West
    • Subdivision: Key West Realty Cos Sub (3.0)

    HOA & financial

    HOA
    • Has HOA: No
    • Services included: None

    Other

    Other facts
    • Listing terms: Cash,FHA

    Price history

    DateEventPrice
    9/26/2025Sold$1,400,000-12.4%$486/sqft
    Source: FLKMLS #616054 Report a problem
    9/8/2025Contingent$1,599,000$555/sqft
    Source: Key West AOR #616054 Report a problem
    9/2/2025Price change$1,599,000-11.1%$555/sqft
    Source: FLKMLS #616054 Report a problem
    8/18/2025Price change$1,799,000-14.3%$625/sqft
    Source: Key West AOR #616054 Report a problem
    8/5/2025Listed for sale$2,100,000+577.4%$729/sqft
    Source: FLKMLS #616054 Report a problem
    1/3/2001Sold$310,000$108/sqft
    Source: Public Record Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$10,465 +5.1%$997,823 +2.2%
    2024$9,957 +33.2%$976,546 +45.3%
    2023$7,475 +11.3%$671,883 +9%
    2022$6,715 +6.4%$616,442 +8.9%
    2021$6,311 +0.3%$565,877 -0.2%
    2020$6,294 $566,851 +8.8%
    2019$6,294 +6.5%$521,125 -5.7%
    2018$5,910 -5.5%$552,530 +1.4%
    2017$6,253 +0%$544,706 +1.6%
    2016$6,252 +0.7%$535,869 +9.6%
    2015$6,208 $488,724

    Find assessor info on the county website

    Neighborhood: New Town

    Nearby schools

    GreatSchools rating
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    Estimated market value
    $1,343,100
    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $1,343,100