1028-1030 Truman Avenue, Key West, FL 33040

$2,700,000

1028-1030 Truman Avenue
Key West, FL 33040
MLS# 597179
4 beds | 8 baths | 3752 sqft

Elevator in the tower as required by ADA servicing 2nd floor commercial space. Left side walkway access to Truman Ave from the rear residential units.

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Rear courtyard view - Truman Ave commercial building on the right & the residential townhouse duplex on the left side.

2nd floor commercial space has porch overlooking Truman Avenue

Two unit commercial street side building. Ground floor unit & 2nd floor space ADA compliant with elevator.

Separate residential 2 story duplex situated behind commercial building situated on Truman

Heavily landscaped courtyard between the front commercial building and duplex behind it.

Walkway to rear residential. Steps leading to 2nd floor commercial space.

Townhouse duplex setback from the two story commercial building fronting Truman

Rear doors of ground floor commercial space opening to courtyard. Outside access to required ADA bathroom to the left under the staircase servicing the ground floor commercial unit.

Landscaped courtyard located between the front & rear buildings.

Kitchen layout of the (2) townhouse units - 2 floors each. 2bdrm, 2 & 1.5 bthrms in each unit.

Kitchens have stove, refrigerator, dishwasher & microwave. Laundry closet with washer/dryer hookups for a stackable unit.

View of landscaped courtyard between commercial street side building & rear residential.

1028-1030 Truman Avenue, Key West, FL 33040

Each 2nd floor bedroom has loft ceilings with fans. All windows & doors hurricane rated to current code requirements.

Elevator & rear deck of 2nd floor commercial space

First floor commercial unit fronting on Truman Avenue. The rear residential units are accessed on either side of the front commercial building.

1st floor commercial space currently rented to personal fitness trainer. Double doors opening onto Truman Ave. This can easily be divided down the center. Access to private ADA bathroom.

2nd floor commercial unit floor plan. Interior ADA restroom & rear deck elevator

Interior of 2nd floor commercial space. Double doors lead out to porch overlooking Truman Avenue. Unit has an interior ADA compliant bathroom.

2nd floor commercial space. Approx. 800 sqft. Open span throughout.

2nd floor commercial unit. Central a/c, ceiling fans, quick response water heater, sink, ADA bathroom. Wall of windows & two doors accessing front porch overlooking Truman Avenue.

Vinyl membrane roofing material under duck boards of porch overlooking Truman.

Porch view of Truman Avenue from 2nd floor commercial unit

Open porch running the length of the 2nd floor commercial unit overlooking Truman Avenue

Overlooking Truman Avenue from 2nd floor porch

Rear side of both apartments sharing a common wall. Both have access to decks through sliding glass doors.

View from 2nd floor apt bedroom. Right side of fence is the rear deck of the apartment. Left side of the fence is neighboring property.

Rear yard within the fenced area for the left side apartment

Two fiber glass cistern tanks collect rain water run-off from roof gutter system. Pump supplies landscaping watering.

Certificate of Occupancy for both buildings.

Property Description
Perfect 1031 Tax Exchange candidate. Newly constructed to current building codes, mixed use com/res compound - ( 2 ) licensed residential units & ( 2 ) commercial licensed units. ** COMMERCIAL BLDG >> 2 story, street side frame structure - 1st flr approx 900 sqft, 2nd flr. approx 800 sqft. - Both flrs have fully ADA compliant restrooms, 9 ft high ceilings, ceiling fans recessed lighting, central a/c, washer/dryer hookups and wired/ plumbed for refrigerator & sinks. 2nd flr unit has 30 ft wide, balcony overlooking Truman Ave. ADA compliant elevator. ** RESIDENTIAL UNITS >> common wall, 2 story duplex in rear bldg. Each unit, 950 sq.ft. - 2 bdrm/2.5 bthrms, central a/c, ceiling fans, vaulted 2nd floor bedrms, island kitchens, W/D hook ups, tile floors & double sliding glass doors to private, heavily shaded rear decks. Top grade finishes throughout. No parking on site. See insurance quotes & floor plans in 'Documents' Tab. - - RENT SCHEDULE - - Mature landscaping in common area between front commercial bldg & rear residential units. 1st flr commercial leased @ $2,584 per month + utilities, expires 2025. 2nd floor commercial @ $2,600 / month + utilities - expires 12/2022. Both apartments leases @ $2,700 / mo. + utilities - both expire in the fall. All 4 units are licensed & utility metered separately. Current Base Rent for all 4 units - $124,400 / year. (as of 8/2022)

Details

Maps

Documents

Contract Information

Current Price: $2,700,000

Listing Date: 2021-08-04

Listing Board: Key West Association

List Price: $2,700,000

Limitd Reprsntation: No

As is Rght to Inspct: Yes

For Sale/Lease: For Sale

Potential Short Sale: No

Bank Owned: No

Location, Tax & Legal

Street #: 1028-1030

Street Name: Truman

Street Suffix: Avenue

Key/Island: Key West

State/Province: FL

Zip Code: 33040

Off Shore Island: No

Subdivision: Gwynn Sub (1.0)

Mile Marker: 1

County: Monroe

Area: 02 - Key West

KW Neighborhood: Midtown East

Marathon Neighborhood: N/A

Side: N/A

Flood Zone: 0.2 PCT ANNUAL CHANC

Alternate Key #: 1034045

Parcel #: 00033280-000000

Zoning: HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med

Legal: KW GWYNN SUB PT OF TR 13 G61-385/86 OR754-1705/06 OR865-1402C/T OR1418-343/44 OR2620-2290/91 OR2889-2495/96

Taxes: 4060.2

Tax Year: 2020

General Property Description

Realtor.COM Type: Commercial

Style: Commercial

Lot Size: 50' x 100'

Lot SqFt: 5000

Waterfront: No

Year Established: 2019-12-31

# Stories: 2

Total # Buildings: 2

Building SqFt: 4000

SqFt Source: Seller

Living Apx SqFt: 3752

Total Units: 4

Year Built: 2021

Total Bedrooms: 4

Full Baths: 6

Half Baths: 2

Total Baths: 8

Remarks & Misc

Remarks – Consumer: Perfect 1031 Tax Exchange candidate. Newly constructed to current building codes, mixed use com/res compound - ( 2 ) licensed residential units & ( 2 ) commercial licensed units. ** COMMERCIAL BLDG >> 2 story, street side frame structure - 1st flr approx 900 sqft, 2nd flr. approx 800 sqft. - Both flrs have fully ADA compliant restrooms, 9 ft high ceilings, ceiling fans recessed lighting, central a/c, washer/dryer hookups and wired/ plumbed for refrigerator & sinks. 2nd flr unit has 30 ft wide, balcony overlooking Truman Ave. ADA compliant elevator. ** RESIDENTIAL UNITS >> common wall, 2 story duplex in rear bldg. Each unit, 950 sq.ft. - 2 bdrm/2.5 bthrms, central a/c, ceiling fans, vaulted 2nd floor bedrms, island kitchens, W/D hook ups, tile floors & double sliding glass doors to private, heavily shaded rear decks. Top grade finishes throughout. No parking on site. See insurance quotes & floor plans in 'Documents' Tab. - - RENT SCHEDULE - - Mature landscaping in common area between front commercial bldg & rear residential units. 1st flr commercial leased @ $2,584 per month + utilities, expires 2025. 2nd floor commercial @ $2,600 / month + utilities - expires 12/2022. Both apartments leases @ $2,700 / mo. + utilities - both expire in the fall. All 4 units are licensed & utility metered separately. Current Base Rent for all 4 units - $124,400 / year. (as of 8/2022)

Directions: Directions: Located 2 blocks West of the intersection of White Street & Truman Avenue. Head towards Duval Street two blocks - building on left side.

Status Change Info

Status: Active

License Info

# of City License: 4

Association Info

Mandatory Home Owners Asc: No

1st Right of Refusal: No

Accounts & Meters

# Sewer Accounts: 4

# Water Meters: 4

# Electric Meters: 4

Property Info

# Kitchens: 2

# Refrigerators: 2

# Range/Ovens: 2

2 Bed/Bath: 2

Financial Status

Bank Owned: No

Potential Short Sale: No

Property Features

Deed Restrictions: No

License Info: Non Trans Rntl Lic

Type: Office Buildings; Retail

Waterfront: None

Waterview: No Waterview

Dockage: None

Cooling/Heating: Ceiling Fans; Central A/C; No Heat

Utilities: Community Swr Plant; FKAA; Separate Meters; Sewer Available

Interior Features: Cathedral Ceilings; Smoke Alarms

Appliances: Dishwasher; Range; Refrigerator

Miscellaneous: Elevator; Handicap Access

Construction: Frame; Stucco

Electric: Circuit Breakers

Windows/Doors: French Doors; Impact Rstnce Doors; Impact Rstnce Window

Floor: Concrete; Tile Floor

Roof: Combo Roof; Gutters; Metal Roof

Land Size: None

Fee Includes: None

Terms: Seller Finance Psble

Tenant Paid: Cable; Garbage; Sewer; Water

Listing Documents

Insurance Quotes 4-2022

Floor Plans

Listing Office: Berkshire Hathaway Knight & Gardner Realty

Last Updated: July - 29 - 2022

1028-1030 Truman Avenue, Key West, FL 33040 - MLS# 597179

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