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Sold for $1,500,000
    • $1,500,000

    928 Truman Ave #A-d, Key West, FL 33040

    8beds
    1,830sqft
    Multi Family
    Built in 1959
    -- sqft lot
    $1,554,300 Zestimate®
    $820/sqft
    $5,519 Estimated rent

    Home value

    $1,554,300

    $1.24M - $1.94M

    $5,519/mo

    Zestimate® history
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    $5,519/mo

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    $8,979/mo

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    $8,979/mo

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    What's special

    Old Town Multi-Use Property Located 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 Income Net Income: $112,461.46 (includes management fees) 7.12% Cap Rate at $1.58M Located in an X Flood Zone This 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.

    Zillow last checked:

    Listing updated:

    Listed by:

    Allison Findlay,

    Preferred Properties (KW)

    Bought with:

    Louis Condos, 3207946

    Berkshire Hathaway HomeServices Knight & Gardner Realty

    Mary Jo Rostien, 3207882

    Berkshire Hathaway HomeServices Knight & Gardner Realty

    Source: FLKMLS,MLS#: 613024MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 8
    • Bathrooms: 5
    • Full bathrooms: 5
    Cooling
    • Central Air, Wall/Window Unit(s), Ceiling Fans(s), Ductless
    Appliances
    • Included: More Appliances, Refrigerator, Oven
    Features
    • Flooring: Parquet, Terrazzo, Other, Concrete
    Interior area
    • Total structure area: 1,830
    • Total interior livable area: 1,830 sqft

    Property

    Features
    • Patio & porch: Open Porch/Balcony, Deck, Patio
    • Exterior features: Storage
    Lot
    • Size: 3,920 Square Feet
    Details
    • Additional structures: Shed(s)
    • Parcel number: 00031070000000
    • Zoning: HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med

    Construction

    Type & style
    • Home type: MultiFamily
    • Architectural style: Other
    • Property subtype: Multi Family
    Materials
    • CBS, Concrete, Stucco, Combo Construction
    Condition
    • Year built: 1959

    Utilities & green energy

    • Utilities for property: Elect Separate Meter

    Community & HOA

    Community
    • Security: Other
    • Subdivision: GG Watson Sub (1.0)
    HOA
    • Has HOA: No
    • Services included: None
    Location
    • Region: Key West

    Financial & listing details

    • Price per square foot: $820/sqft
    • Tax assessed value: $1,059,173
    • Annual tax amount: $9,425
    • Date on market: 1/8/2025
    • Listing terms: Cash,Conventional

    Price history

    DateEventPrice
    12/23/2025Sold$1,500,000-5.1%$820/sqft
    Source: FLKMLS #613024 Report a problem
    9/6/2025Contingent$1,580,000$863/sqft
    Source: Key West AOR #613024 Report a problem
    8/20/2025Price change$1,580,000-1.3%$863/sqft
    Source: FLKMLS #613024 Report a problem
    5/22/2025Price change$1,600,000-3%$874/sqft
    Source: Key West AOR #613024 Report a problem
    4/8/2025Price change$1,650,000-2.9%$902/sqft
    Source: FLKMLS #613024 Report a problem
    2/5/2025Price change$1,700,000-5.6%$929/sqft
    Source: Key West AOR #613024 Report a problem
    1/8/2025Listed for sale$1,800,000-2.2%$984/sqft
    Source: FLKMLS #613024 Report a problem
    11/11/2024Listing removed$1,840,000-2.6%$1,005/sqft
    Source: Key West AOR #611525 Report a problem
    9/20/2024Listed for sale$1,890,000$1,033/sqft
    Source: FLKMLS #611525 Report a problem
    9/20/2024Listing removed$1,890,000$1,033/sqft
    Source: FLKMLS #606312 Report a problem
    5/13/2024Price change$1,890,000-3.1%$1,033/sqft
    Source: Key West AOR #606312 Report a problem
    12/1/2023Price change$1,950,000-10.3%$1,066/sqft
    Source: Key West AOR #606312 Report a problem
    10/5/2023Price change$2,175,000-1.1%$1,189/sqft
    Source: Key West AOR #606312 Report a problem
    8/14/2023Listed for sale$2,200,000+266.7%$1,202/sqft
    Source: FLKMLS #606312 Report a problem
    9/8/2021Sold$600,000$328/sqft
    Source: Public Record Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$10,674 +13.2%$896,259 +21%
    2023$9,426 $740,710
    Find assessor info on the county website

    Neighborhood: Old Town

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    Estimated market value
    $1,554,300
    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
    $1,554,300

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