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Duplex with Studio Cottage
For Sale
$899,000

2004 Patterson Avenue, Key West, FL 33040

Residential, Key West, FL

Property Size1,239 SF
Lot Size0.12 Acres
Price / SF$725.59
Days on Market247

Property Features for 2004 Patterson Avenue

General Information

Property type Residential Multi Family
Property subtype Duplex
Zoning SF - Single Family
Bedrooms 4
Bathrooms 3
Full bathrooms 3
Rooms Bathroom 1, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 3
Subdivision Key West Realty Cos Sub (3.0)
View Water
Standard status Active
APN 00049830-000000
Size 1,239 SF
Lot size 0.12 Acres

Taxes and HOA fees

Tax Year 2025
Tax Description KW KW REALTY COS FIRST SUB PB1-43 NE 50 FT OF NW 101 FT OF N1/2 OF SQR 38 TR-21 C5-337/38 OR131-275/76 OR413-255/256 OR5
Tax Annual Amount 6938
Legal Description KW KW REALTY COS FIRST SUB PB1-43 NE 50 FT OF NW 101 FT OF N1/2 OF SQR 38 TR-21 C5-337/38 OR131-275/76 OR413-255/256 OR5

Building Details

Year built 1958
Building materials Combo Construction
Architectural style Other
Listing Agency: Berkshire Hathaway HomeServices Knight & Gardner Realty
Listed By: Rebecca Cobo · License #3391130
Added: Jan 28 Changed: Oct 1 Last Checked: Oct 2 at 7:06AM
MLS# 618352

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.

This duplex property includes a 3-bedroom, 2-bath main residence and a separate 1-bedroom, 1-bath studio cottage. Together, the improvements contain 1,239 square feet on a 0.12-acre lot. The property was built in 1958 and uses combo construction materials.

Both residences are currently fully leased. The property is located in Key West, Florida, within the SF - Single Family zoning designation. Its two-unit arrangement provides a main home and an additional cottage under one ownership.

Key Highlights

  • 3‑bedroom, 2‑bath main residence
  • Separate 1‑bedroom, 1‑bath studio cottage
  • 1,239 square feet on a 0.12‑acre lot

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Cosmetic Store Daycare Center Auto Repair Shop Catering Service Tattoo & Piercing Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2
Residential units
100%
Occupancy

Location Intelligence

Trade Area within ½ mile

1,581
Businesses Nearby

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
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022
10.2% 2023
11.4% 2024
11.3% 2025
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Frequently Asked Questions

What type of property is this?
Duplex - Two separate residences combine a primary home with a flexible studio cottage configuration.
Where is this duplex located?
The property is located at 2004 Patterson Avenue Key West, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 3‑bedroom, 2‑bath main residence; Separate 1‑bedroom, 1‑bath studio cottage; 1,239 square feet on a 0.12‑acre lot
More about this property
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