605 Simonton St | $1,595,000

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605 Simonton St | $1,595,000

1,595.00

Great multi-use building resting near the corner of Southard and Simonton! This prime location falls within the X Flood Zone in the heart of Old Town in Key West. Property includes one residential charming 1BR/1BA unit and two commercial units that include great display windows all conveniently located across from public parking. The two commercial units could easily be combined into one large 2,606 SqFt unit. Residential apartment has private entrance around back, completely fenced in with a nice sized back patio for entertaining guests. Only a block from the center of Duval Street, this multi-use investment provides excellent foot traffic for your commercial leases while residential tenants enjoy the convenience of being close to all the fun restaurants, activities and attractions Old Town offers.

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Construction:  CBS/Masonry, Combo Const

Cooling/Heating:  Window/Wall Unit, Ceiling Fan

Dwellings:  1 Residential (1BR/1BA) 2 Commercial (3 Half Baths)

Sewer/Water:  FKAA, Municipal Sewer

Roof:  Metal

Year Built:  1948

Floors:  Laminate Wood, Tile, Combo

Bedrooms/Baths:  1BR/1.3BA (1 3)

Window/Shutters:  Manual Shutters, Sash/Screen Windows, Display Windows, Glass Doors

Rent & GLA:  602 Southard St (Rear Apt.): 638sf $1,700/Month; Day Spa: 1,710sf $2,650/Month; Dance Studio: 896 SqFt $2,821.88/Month (03/01/17 - 02/28/18) $3,019.41/Month (03/01/18 - 06/30/19)

2017 Total: ~$7,172/Mo ~$85,569/Yr

2018 Total: ~$7,369/Mo ~$88,428/Yr

Parking:  Located Across from Public Parking

Zoning:  HNC-1

Flood Zone:  X Zone

Appliances:  Refrigerator, Range, Oven

Tenancy:  Not Triple Net; Tenants Pay Their Own Utilities

Amenities:  One Block from Duval, High Volume Foot Traffic 

Taxes:  $5,403 for the 2015 Tax Year