3-Unit Residential
1821 Harris Avenue, Key West, FL 33040
For Sale
New
$1,450,000
Residential, Key West, FL
Property Size3,687 SF
Lot Size0.11 Acres
Price / SF$393.27
Days on Market5
Property Features for 1821 Harris Avenue
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Appliances
Subdivision
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Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Cooling system
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Expert Realty LLC (HQ)
(305) 587-7330
Listed By:
Keys Team Bryant and Kat
(305) 407-0894
Added: Nov 9
Last Checked: Nov 13 at 11:06PM
MLS# 621995
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.
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Investment Insights
Based on property information with market context.
This 3,687-square-foot triplex contains three residences on a 0.11-acre lot. The front home has one level, three bedrooms, three bathrooms, and an additional flex room. Each of the two rear residences has three bedrooms and two bathrooms across two floors, with kitchens and living areas downstairs and bedrooms and bathrooms upstairs. The property was built in 1948 and has CBS construction, metal roofing, and off-street parking.
All three units are currently rented. The property is in Midtown Key West, with Downtown Key West, shopping, dining, and entertainment described as minutes away.
All three units are currently rented. The property is in Midtown Key West, with Downtown Key West, shopping, dining, and entertainment described as minutes away.
Key Highlights
- Three residences totaling 3,687 square feet
- 0.11‑acre lot in Midtown Key West
- Front residence has 3 bedrooms, 3 bathrooms, and an additional flex room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,766
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,235,320
$1.2M
Cap Rate 7%
$882,371
$882.4K
Cap Rate 9%
$686,289
$686.3K
Market Conditions
NOI Build-Up for 3,687 SF
Gross rent
$94.2K $25.56/SF
− Vacancy
−$6.0K −$1.63/SF
EGI
$88.2K $23.93/SF
− OpEx
−$26.5K −$7.18/SF
NOI
$61.8K $16.75/SF
Area
Monroe County, FL
Vacancy
6.37%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,235,320
Cap Rate 7%
$882,371
Cap Rate 9%
$686,289
Alternative Uses
Best Use
Multifamily LT 5
$882.4K
$772.1K – $1.03M
NOI $61,766 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$817.3K
$715.2K – $953.6K
NOI $57,214 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,814 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,639
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three residences combine single-level and two-story layouts, with all units currently rented.
Where is this triplex located?
The property is located at 1821 Harris Avenue Key West, FL.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Three residences totaling 3,687 square feet; 0.11‑acre lot in Midtown Key West; Front residence has 3 bedrooms, 3 bathrooms, and an additional flex room
