Florida Keys Multi-Family Homes for Sale in the Florida Keys

Now priced to sell with this $50,000 price improvement! Rare 2 unit property in Old Town! Enjoy Key West living on one of our most picturesque Old Town lanes. Located in the heart of the historic district and near the seaport, everything you want in Key West is right out your door. Built in the early 1900s, over the years the home was converted into a legal 2-unit property with separate water & electric accounts. The configuration is upstairs (large 1 BR & 1 BA with a sleeping loft) and downstairs (2 BR & 1.5 BA) units, with an exterior staircase. Both units have a front & rear porch, balcony, or deck. For your parking convenience, an off-street spot is in front of the property. Lease information available upon request. Competitively priced for just $1,440,000.

Own a peace of paradise in the middle of the Florida Keys close to Sombrero Beach area. Home is right on a walking and lit bike path that leads right to Sombrero Beach. Enjoy lazy days in the hot tub and hammock while watching the sunset or jump into your boat right out of the dock just steps away from the home.This home has all impact windows and doors, jacuzzi, gazebo, bbq area, as well as a hammock. Fully renovated kitchens, bathrooms, fully furnished, as well as fully equipped kitchens. 50ft concrete dock with a deep water canal that takes approximately 15-20 minutes to reach open water.Great investment opportunity, both units are currently vacation licensed and ready to enjoy as well as rent out to vacationers looking to get away. This property has everything you need and more. This is a unique investment opportunity that rarely go up for sale, not many of them around.

Combine these two and create a HUGE Full Duplex, Single Family Home or two NEW half duplexes. Seller has complete plans for not only a Full Duplex, but already has approval for the replacement of the seawall and new 75 foot dock. Just imagine creating your own single family home, full duplex or two half duplexes..... The options and possibilities are endless here, in the Heart of The Florida Keys, Key Colony Beach! Walk or bike the entire city to: pickle ball, tennis, golf, basketball, bocce ball, 3 playgrounds, 3 restaurants, shops, post office, City Hall, Sunset Park and marina. Welcome Home

This home offers a unique opportunity for flexible living or investment! Currently configured as a single-family residence, it has been approved by the City of Key West to be reverted back to a Multi-family, allowing for up to 4 units. Easily convert the home back to two studios with bath, 1 bedroom 1 bath and a 2 bedroom 1 bath. Welcome to 1409 Truman Avenue, a stunning Key West Eyebrow home that combines historical charm with modern amenities. The spacious layout and design make it easy to transition back to a mult-family configuration of a duplex, triplex or 4 units.. Each potential unit could offer comfortable living spaces, with the square footage allowing for a range of layouts to suit tenants needs.Based on comparable rentals in the area and the square footage of this property, each unit could command an estimated monthly rent of $3k to 6k monthly, each unit (seasonal variables) providing a lucrative investment opportunity. With the strong rental demand in Key West, this property is perfectly positioned to maximize its potential.Whether youre looking to generate income, create a multi-generational living space, or invest in the vibrant Key West market, this property is a rare find. Contact us for more details and to schedule a showing!

Waterfront Duplex in Marathon - A Boaters Paradise!Discover the perfect blend of coastal living and investment potential with this waterfront duplex located on a serene canal in Marathon. Each side of this spacious property offers 2 bedrooms, 2 bathrooms, and an open living floor plan, providing comfortable living spaces with endless possibilities. Recently tented for termites with a warranty and NEW METAL ROOF COMING SOON!Live in one side and rent out the other--an ideal opportunity for generating income while enjoying the Florida Keys lifestyle.Boating enthusiasts will love the 100 feet of concrete dockage along a deep-water canal, offering direct access to the Atlantic Ocean and a nearby route to Florida Bay. Whether youre into offshore fishing, backcountry adventures, or cruising to waterfront dining, this location delivers it all.Located just a short walk to Sombrero Beach, one of the most beautiful sandy beaches in the Keys, this property offers the ultimate retreat for those seeking tranquility and adventure.Dont miss this rare opportunity to own a piece of paradise.

Unique 18,000 sq ft ocean front parcel with 5 units. Remember how the Key used to be? Parcel shares a boat ramp with adjacent parcel, owned bay bottom and 5 units recognized by the City of Marathon. The property contains a Triplex consisting of a 2/2 apt and two 1/1 apartments: a small cottage studio with 1 bath and a mobile home with 2 beds/1.5 baths. Triplex building sits directly on the Ocean and is currently undergoing spalling repairs. The property has been a vacation rental, but the vacation rental license is currently stopped while repairs are under way. Potential buyers have several options. The current density on RM zoning allows for two units should a prospective buyer wish to demolish the existing units, rebuild two units, and sell or retain the remaining 3 Transferable Building Rights. Letter of Determination is under the Documents Tab.

Imagine waking up every day in your dream waterfront home, where modern elegance meets coastal charm. This newly built property, completed in 2023, offers not just a home, but a lifestyle. With a generously sized primary suite, 2 comfortable guest rooms and 3 luxurious baths, this residence is designed for comfort and sophistication. The impressive 9-foot ceilings amplify the natural light, making every corner of the home feel inviting and spacious. The 2-car garage will store all your boating and fishing gear too. But thats not all! Step outside to your very own 49-foot dock, where you can jump on your boat and explore the breathtaking waters of the Florida Keys at your leisure. Whether youre hosting friends by the pool or enjoying a quiet evening on the couch with Netflix, this property is perfect for making lasting memories. Currently set up as a weekly vacation rental with bookings in place, start earning income right away. Approx. $50K gross income in 2024 with approx. $31K to date on the books for 2025. Key Colony Beach is a resort community in the middle Florida Keys with several restaurants, 9-hole golf course, sports courts and shopping within biking or walking distance. The adjoining half duplex, 230 Sadowski is also for sale if you want to purchase the full duplex for extended family or additional rental income.

Embrace the Florida Keys lifestyle with this modern half duplex, built in 2023 and featuring 3 bedrooms and 3 baths, all designed with elegance and comfort in mind. Theres nothing better than a new property and this one does not disappoint. Beautiful white kitchen with Quartz countertops, tile flooring throughout and soaring 9 foot ceilings. 2-car garage to store all your boating gear. Picture yourself relaxing by the pool or setting out on your boat from the 49 concrete dock, making every day feel like a vacation. Currently a weekly vacation rental with upcoming bookings in place. Approx. $58K gross income in 2024 and to date approx. $32K on the books for 2025. The adjoining half duplex, 232 Sadowski is also for sale if you want to purchase the full duplex for extended family or additional rental income. Key Colony Beach is a resort community in the middle Florida Keys with several restaurants, a 9-hole golf course, Sunset Park, sports courts and shopping within biking or walking distance.

Behind the quintessential white picket fence you will find this delightful historic cottage currently set up as a duplex with off street parking and pool. Lots of opportunity with the ability to generate income and have your own slice of Paradise to enjoy, or marry the spaces and convert to a single family dream home. Each unit enjoys privacy from the other including separate outdoor living spaces. The front unit greets you with the charming and spacious front porch. Through the front door you will enter into an open living room and kitchen with fabulous ceiling heights, charming architectural details and 1bd/1ba plus a loft for storage. Enter the backyard oasis down a brick lined sidewalk that opens up to a sprawling deck surrounding a refreshing and sunny swimming pool. The rear unit enjoys 2bd/1ba with open kitchen/living space that leads to a covered porch overlooking the backyard retreat!

Price Reduced, Owners motivated! This triplex is situated in a prime area of Old Town, just three blocks away from Duval Street. It presents an attractive investment opportunity with its three separate units, offering potential for rental income, extended family stays, or versatile usage. Constructed from concrete blocks in 1979, this propertys main unit is currently occupied by the owners, who benefit from consistent rental earnings from the other two units, frequented by repeat monthly guests. Unit A comprises two bedrooms and one bath, spanning 768 sq. ft., while Units B and C are one-bedroom, one-bath units with 528 and 564 sq. ft. each. Each unit features its own laundry facilities and a private outdoor patio area perfect for relaxation. Additional conveniences include on-site parking and storage. The propertys strategic location, mere minutes from Duval Street, restaurants, bars, beaches, historical landmarks and waterfront attractions, enhances its appeal as a multi-unit investment. Take the opportunity to explore this property today and envision its myriad possibilities!

Old Town Multi-Use PropertyLocated on Truman Avenue, this distinctive property features five legal long-term rental apartments, making it ideal for steady income or employee housing.Unit 101, a CBS building, offers the potential for commercial conversion (buyer to verify), provided the residential units remain onsite, creating valuable flexibility.Highlights include:8 bedrooms and 5 bathrooms$11,650 monthly rental incomeLocated in an X flood zoneThis property presents a unique opportunity to combine income-generating apartments with potential commercial space, all in a prime Old Town location. A investment opportunity in the heart of Key West.

Are you ready to build??? after talking with City Planning the new owner will be able to possibly renovate the main house and build a second new house Buyer to verify...Make your offer today.Welcome to 1327 Duncan Street, this property offers a 3 bedroom 1 bath single-family home plus a separate 1 bedroom 1 bath cottage with fenced in yard, laundry area, central air condition. The main house has 12 ft ceilings, laundry room, living room, dining room, storage room with pull down attic access. There is also a large storage building in the backyard. The large lot offers many possibilities for the new owners. The two units have separate electric and water meters and sewer accounts . ..Make your offer today.

Prime 2 duplexes, each a 2/1 up & 2/1 down for a total of 8 bedrooms, 4 baths. Each unit has a generous covered porch extending the living area to the outdoors. Behind and between the 2 buildings is vacant land, room for a pool or outdoor storage, etc. Off-street parking for 4 cars. Theres a lovely specimen Buttonwood tree at the entry to the property. A good investment for owner occupancy and rental income otherwise. Property Data Card is found in Documents.

Amazing Income Property Opportunity in Marathon, FL! Dont miss out on this incredible chance to own a stunning waterfront property that offers the best of both worlds--breathtaking ocean and bay views! Duplex featuring two units of 2 bed/ 2 bath each. Featuring 80 feet of deeded dock access, making it perfect for boating enthusiasts and anyone who dreams of life on the water. Private, heated pool & spa. A must-see to truly appreciate its beauty and potential. Whether youre looking for a personal retreat or an investment opportunity, this property will not last long on the market! Dont let it pass you by! Also features an enclosed 2/1 ofc/storage/cabana space. Bonus: Upon purchase, the buyer will instantly receive 3 months of rental income--making this an unbeatable investment opportunity!

Endless potential with this income producing 3-Story Concrete construction TRI-PLEX home with 4 bedrooms and 5 bathrooms offering ample space for large groups or multiple families. The independent guest suites are located on each floor with a private balcony! Boating enthusiasts will enjoy this deep water protected dockage in Boot Key Harbor with 4 Boat Slips including water and electric (110/30/50) at each slip! Spacious ROOF TOP deck offers a 360 view of incredible sunsets and endless stargazing! Call today for details and a tour of this Gem in the heart of Marathon! More photos coming soon.

A unique investment gem optimally positioned in the heart of the Florida Keys. This four-unit apartment building presents a fantastic opportunity for investors or business owners seeking employee housing solutions. Each of the four apartments in this building offers a comfortable living space with two bedrooms and one bathroom. Long-term tenants are currently in place. The separate metering of electricity for each unit is a thoughtful touch, allowing tenants to manage and pay for their own usage, which is a benefit for both the landlord and the tenants alike. Parking is often at a premium in the Keys, but not at this property. There is ample on-site parking available, ensuring that residents and their guests have convenient and secure places to park their vehicles. This is a significant advantage in the region and adds to the attractiveness of the property for prospective tenants. Additionally, the presence of a laundry room out back offers an added layer of convenience for residents. This shared facility means that tenants do not need to leave the comfort of their complex for laundry services, adding to the appeal of the apartments. For local business owners, this property represents a strategic investment in the future of their enterprise. With the challenge of securing affordable housing being a key factor in employee retention, owning this apartment building could be a decisive move to ensure the stability and longevity of your workforce. New owner can apply for affordable housing units and if awarded by the city would be able sell the 4 market rates off which are currently going for approx. 200k each. Inquire for details. By providing your employees with a comfortable and convenient place to live, you can foster loyalty and reduce the turnover that often plagues businesses in high-demand living areas. In summary this investment offers a rare blend of steady income potential and strategic benefits for business owners.

Experience the ultimate in Florida Keys living with this coveted side-by-side duplex in the desirable Key Colony Beach community. Boasting seven spacious bedrooms and six baths, this property offers plenty of room for large families or groups and has excellent rental income potential. You can live on one side and rent the other, use both sides for extended family and friends, or rent both for maximum income potential. Soak up the warm Florida Keys sunshine while relaxing in your private swim spa or under the covered patio overlooking the serene canal, perfect for boating and fishing enthusiasts. The stunning rooftop view is the perfect spot to enjoy the beauty of the community, with its breathtaking sunrises and sunsets. Whether youre lounging in the sun or sipping on a cool drink, youll feel relaxed and rejuvenated as you take in the sights from this prime vantage point. The metal roof was recently installed in 2018, and one side of the property has a brand new AC. Take a short walk or bike to the beach, restaurants, and shops, or enjoy Key Colony Beachs many amenities, including its police department, post office, golf course, and tennis courts. Dont miss the opportunity to own your own piece of paradise in the beautiful Florida Keys.

Say hello to 242 Sadowski! Imagine waking up every morning in your own Florida Keys waterfront home, where you can head out for a fun day of fishing whenever your heart desires. This beautifully designed property, built in 2014, boasts 4 spacious bedrooms and 3 modern baths, providing ample room for family gatherings or hosting friends. There is over 2300 SF of living space and a nice open floor plan with tray ceilings in the living and dining area. Sliding glass doors run across the entire rear of the home and bring the beauty of the outdoors in. The kitchen is well appointed with an island and lots of cabinet space. A guest bedroom and bath is also conveniently on the first level, for grandparents or those with mobility issues. Upstairs, youll find the additional three bedrooms and the laundry room. Imagine waking up to beautiful water views from your private balcony, accessible from both the primary suite and one of the guest bedrooms--perfect for sipping your morning coffee or enjoying some quiet time with a good book. Step outside to your private oasis, complete with a sparkling pool, perfect for sun-soaked afternoons and evening swims under the stars. The generous 49 concrete dock with step down will accommodate one boat or two. The 2-car garage will store all of your boating gear. Currently operating as a successful vacation rental. Approx. $91K in gross income in 2024 and approx. $82K on the books to date for 2025. This means you can start generating income from day one, making it an ideal investment for those looking to blend leisure with financial opportunity. Picture yourself enjoying weekends with family, while also taking advantage of the lucrative vacation rental market, all in one incredible location. Key Colony Beach is a resort community in the middle Florida Keys with several restaurants, 9-hole golf course, sports courts and shopping within biking or walking distance. 240 Sadowski, is also for sale, if you want to purchase the full duple

Welcome to 240 Sadowski! This exceptional two-story half duplex is designed for those who appreciate both luxury and comfort. Built in 2014, with 4 spacious bedrooms and 3 bathrooms, this residence offers ample space for families and guests alike. There is over 2300 SF of living space and a nice open floor plan with tray ceilings in the living and dining area. Sliding glass doors run across the entire rear of the home and bring the beauty of the outdoors in. The kitchen is well appointed with an island and lots of cabinet space. A guest bedroom and bath is also conveniently on the first level, for grandparents or those with mobility issues. Upstairs, youll find the additional three bedrooms and the laundry room. Imagine waking up to beautiful water views from your private balcony, accessible from both the primary suite and one of the guest bedrooms--perfect for sipping your morning coffee or enjoying some quiet time with a good book. For the avid fisherman, this home comes with a generous 49 concrete dock, giving you direct access to the sparkling waters of the Keys. The pool is the perfect place to relax after being out fishing all day, or for those that just want to lounge and work on their suntan. Your 2-car garage will come in handy for storing all your boating gear too. This property is currently a successful vacation rental, with bookings in place, so you can start generating income right away. Approx. $90K in gross income in 2024 and approx. $82K on the books to date for 2025. Key Colony Beach is a resort community in the middle Florida Keys with several restaurants, 9-hole golf course, sports courts and shopping within biking or walking distance. The adjoining property, 242 Sadowski, is also for sale, if you want to purchase the full duplex for extended family or additional rental income.

Renovated, highest quality. New heated pool, ipe deck, new metal shingle roof, entire two bedroom is brand new. 6,254 square feet of land, corner lot, park your RV, add guest house, etc. Two on site parking spaces. Home was renovated to convert to single family, currently set up as two units, one two bedroom, two bath with large sleeping loft and a one bedroom, one bath, (two legal units). Both floor plans attached, as is and the proposed conversion to single family. Tennis courts across the street. Keep as is and rent one side or easily finish conversion to single family. Room for your RV on the very large fenced lot. Rented long term $8,500. Month. GLA does not include loft. Current owners are licensed Florida Realtors.