Triplex with Up to Seven Parking
For Sale
$1,299,000
1614 Dennis Street, Key West, FL 33040
MULTI_FAMILY - Key West, FL
Property Size2,699 SF
Lot Size0.11 Acres
Price / SF$481.29
Days on Market12
Property Features for 1614 Dennis Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
SF - Single Family
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 6, Bathroom 2, Bedroom 1, Bedroom 7, Bedroom 3
Parking features
Open
Patio and Porch features
Porch
Appliances
Washer, Dryer, Dishwasher, Refrigerator, Oven, Microwave
Subdivision
New Town - Unrecord (3.0)
View
Water
Standard status
Active
APN
00062930000000
Size
2,699 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Kw Diag Pb 1-13 All Lt 10 The Sely 2 Ft 4 In Of Lt 13 Sqr 4 Tr 30 Or300-455/56 Or520-947 Or980-892 Or1089-1773 Or1324-17
Tax Annual Amount
8312
Legal Description
Kw Diag Pb 1-13 All Lt 10 The Sely 2 Ft 4 In Of Lt 13 Sqr 4 Tr 30 Or300-455/56 Or520-947 Or980-892 Or1089-1773 Or1324-17
Utilities
Cooling system
Central Air
Building Details
Year built
1968
Flooring type
Tile, Vinyl, Combo
Building materials
CBS, Frame, Combo Construction
Roof type
Metal
Listing Agency:
Ocean Sotheby's International Realty
(305) 294-1117
Listed By:
Matthew J Sheehan · License #3400684
(305) 849-9233
Added: Jul 20
Changed: Jul 24
Last Checked: Jul 31 at 2:06PM
MLS# 620718
Copyright © 2026 Key West Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
1614 Dennis Street is a three-unit triplex built in 1968 on a 0.11-acre lot. The property totals 2,699 square feet and is arranged with Unit A as a 2/1, Unit B as a 2/1, and Unit C (upstairs) as a 3/2. Each unit is supported by central air, and the home features a porch.
Construction includes CBS, frame, and combo construction, with tile and vinyl flooring and a metal roof. The property offers open parking for up to 7 vehicles, an uncommon benefit for tenants and owners at this size. Appliances include washer, dryer, dishwasher, refrigerator, oven, and microwave.
Zoned SF - Single Family, this triplex can support an owner-occupant structure or rental-focused use across all three units.
Construction includes CBS, frame, and combo construction, with tile and vinyl flooring and a metal roof. The property offers open parking for up to 7 vehicles, an uncommon benefit for tenants and owners at this size. Appliances include washer, dryer, dishwasher, refrigerator, oven, and microwave.
Zoned SF - Single Family, this triplex can support an owner-occupant structure or rental-focused use across all three units.
Key Highlights
- 2,699 SF triplex with three units: Unit A 2/1, Unit B 2/1, Unit C (upstairs) 3/2
- 0.11‑acre lot with open parking for up to 7 vehicles
- Central air and a porch
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.0k | $25.56 |
| − Vacancy | −$4.4k | −$1.63 |
| EGI | $64.6k | $23.93 |
| − OpEx | −$19.4k | −$7.18 |
| NOI | $45.2k | $16.75 |
2,699 SF · lease $25.56/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$645.9K
$565.2K – $753.6K
NOI $45,214 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$598.3K
$523.5K – $698.0K
NOI $41,882 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$1.09M
$949.9K – $1.27M
NOI $75,995 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,411
Businesses Nearby
Explore this area
Business Placement
Demographics for 33040, FL
35,958
Population
19,001
Households
1.9
Avg Household Size
44
Median Age
38%
College-Educated
92%
High-School Grad
17.7 sq mi
ZIP Area
2,032
Density / Sq Mi
$79,038
Median Household Income
$42,458
Median Earnings
$2,079
Median Rent
$766,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit triplex with central air and a porch, zoned SF - Single Family.
Where is this triplex located?
The property is located at 1614 Dennis Street Key West, FL.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 2,699 SF triplex with three units: Unit A 2/1, Unit B 2/1, Unit C (upstairs) 3/2; 0.11‑acre lot with open parking for up to 7 vehicles; Central air and a porch
