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    Key West, FL
    Quadplex

    Key West, FL Quadplexes for Sale

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    Stock Island, FL Sugarloaf Key, FL Cudjoe Key, FL
    Value-Add Fourplex Investment Opportunity
    Updated: May 1
    Value-Add Fourplex Investment Opportunity

    1224 2nd Street, Key West, FL 33040

    $1,700,000
    3,000 sqft 0.16 AC lot
    Value‑add fourplex with major upgrades already completed, including a new metal roof and brand‑new windows
    Updated concrete throughout and combo construction; Year built listed as 1950
    Fourplex layout includes 4 bedrooms and multiple bathrooms across Rooms listed for Bathroom 1‑4 and Bedroom 1‑4
    Proposed stabilized‑income potential after completion: over $200,000 in annual income across all four units
    Condo‑conversion upside option mentioned with projected rents of about $6,000/month for lower units and $7,000/month for upper units
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    This listing looks promising.

    Here's a quick look at some key insights for

    1224 2nd Street, Key West, FL 33040

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    • Est. Cap Rate

      3%
      NOI ÷ price

    • Est. NOI

      $50K
      Annual

    • Price @ 7% Cap

      $718K
      Suggested

    • Property Type

      Multi-Family Dwellings
      Built 1950
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    Four-Unit Multifamily Compound
    Updated: Nov 1, 2025
    Four-Unit Multifamily Compound

    919-921 Thomas Street, Key West, FL 33040

    $3,750,000
    3,015 sqft 0.14 AC lot
    1938‑built Key West multifamily compound with 4 units
    Main house includes a private heated pool, hot tub, and outdoor shower
    Two detached guest cottages off the pool associated with the main house
    Additional buildings include an upstairs 2BR/1BA unit with a private deck and a one‑story 1BR/1BA unit
    Multiple bedrooms and bathrooms across the compound plus built‑in cabinets and granite countertops
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    Key West Townhouse Unit Complex
    Key West Townhouse Unit Complex

    Key West, FL 33040

    $2,100,000
    750 sqft 0.05 AC lot

    Four-unit townhouse complex on a 10,000 sq ft lot.

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    Based on your search, we've compiled 7 Potential Opportunities for your consideration. Besides 3 Active listings in Key West, FL, we suggest exploring several alternatives: 4 properties in Nearby Cities

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Fourplex with Separate Utilities
    Fourplex with Separate Utilities

    1478 NW 2nd Ave, Florida City, FL 33034

    $699,000
    2,280 sqft

    Well-maintained fourplex with four 1-bedroom units and individual water and electric meters.

    View details
    Quadplex with Additional Development Land
    Quadplex with Additional Development Land

    430 SW 10th Ave, Homestead, FL 33030

    $1,250,000
    4,248 sqft

    Two duplexes with four occupied units plus additional land with conceptual single-family lot potential.

    View details
    Multi-Family Income Property with Four Units
    Multi-Family Income Property with Four Units

    35405 SW 192nd Ave, Homestead, FL 33034

    $825,000
    0.16 AC lot

    Four-structure income property with three 3-bedroom/2-bath units and a studio, sold as-is.

    View details
    Renovated Fourplex in Florida City
    Renovated Fourplex in Florida City

    1406 NW 2nd Ave, Florida City, FL 33034

    $1,150,000

    Four renovated units, strong rental potential in prime location.

    View details

    Key West, FL Quadplexes Market Trends and Statistics

    Explore 3 quadplexes for sale in Key West, FL, showcased through 3 active listings on our real estate platform. These investment opportunities span a total of 6,765 square feet of properties for sale, with an estimated market value of $7,550,000.

    Sale prices for four-unit buildings in Key West, FL start at $1,700,000, averaging $2,516,666, and reaching up to $3,750,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Duplexes 17
    Apartment buildings 11
    Mobile home & RV parks 3
    Quadplexes 3
    Triplexes 3

    Demographics Overview

    Population 36K
    Population Growth (5Y) +3.8%
    Median Household Income $79,038
    College Educated 17.6%

    High-Yield Neighborhoods for Investment

    Identify Key West submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    33040 $1.9M

    Taxes & Financing

    Tax Rate (average for all types) 0.71%
    Property Tax per SF $10.90 per SF
    Tax Rate vs County Average 0.03 pp below county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Monroe County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Monroe County

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    Residential Income

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