506 Grinnell Street
Key West, FL 33040
MLS# 620987
3 beds | 2 baths | 1416 sqft
Open House (10/22/2026 - 11:00 am - 1:00 pm)
Property DescriptionCharming Historic Old Town Key West Home, Ready for Its Next Chapter!
Here's an opportunity for the buyer who sees possibility where others see a project. This 3-bedroom, 1.5-bath historic Key West home is tucked into the heart of Old Town, just minutes from the Historic Seaport, downtown, restaurants, shopping, and everything that makes island living so special.
With classic Key West architecture, a welcoming front porch, hardwood floors, vintage windows, and plenty of original character, the home offers a wonderful starting point for a thoughtful renovation. The interior has been freshly painted, but this is a property that will require renovation and is best suited for a buyer ready to take on a true restoration project.
Currently tenant occupied, the property also offers the advantage of existing rental income while a new owner makes plans, lines up contractors, or prepares for a future renovation or move-in.
The existing floor plan includes generous living space, three bedrooms, a full bath downstairs, a half bath upstairs, and a private backyard with the potential to become a lush tropical retreat.
For the right buyer, the appeal is undeniable: an authentic Old Town home, a highly desirable location, existing income, and the opportunity to restore, reimagine, and create something truly special.
Bring your contractor, your creativity, and your vision. This one isn't pretending to be turnkey, but it just might be worth the work. *some photos digitally enhanced only to remove personal belongings
Listing Board: Key West Association
As is Rght to Inspct: Yes
Current Price: $999,000
Listing Date: 2026-08-14
KW Neighborhood: Old Town-N of Truman
City: KEY WEST
Mile Marker: 1
Marathon Neighborhood: N/A
Side: Median
Flood Zone: AE
Alternate Key #: 1008036
Parcel #: 00007760000000
Zoning: HHDR - Historic High Density Residential
Deed Restrictions: Unknown
Legal: Kw Pt Lot 2 Sqr 46 H1-597 Or488-591/92 Or932-1856 Or1297-2343/44 Or1297-2349/51 Or1297-2352/54 Or1301-311/13 Or1301-314/
Taxes: 8348.36
Tax Year: 2025
Pub Sewer HkUp: Yes
Street #: 506
Street Name: Grinnell
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
County: Monroe
Subdivision: Old Town - Unlisted (1.0)
Realtor.COM Type: Residential - Single Family
Waterfront: No
Control Depth: 0
Lot Size: 22 X 90
Lot Sqft Source: Tax Records
Total Units: 0
Acres: 0.04
SqFt Source: Tax Records
Rentals Allowed: With Restrictions
Min Rental Days: 30
Style: Single Family
Year Built: 1938
Living Apx SqFt: 1416
Total Bedrooms: 3
Full Baths: 1
Half Baths: 1
Remarks – Consumer: Charming Historic Old Town Key West Home, Ready for Its Next Chapter!
Here's an opportunity for the buyer who sees possibility where others see a project. This 3-bedroom, 1.5-bath historic Key West home is tucked into the heart of Old Town, just minutes from the Historic Seaport, downtown, restaurants, shopping, and everything that makes island living so special.
With classic Key West architecture, a welcoming front porch, hardwood floors, vintage windows, and plenty of original character, the home offers a wonderful starting point for a thoughtful renovation. The interior has been freshly painted, but this is a property that will require renovation and is best suited for a buyer ready to take on a true restoration project.
Currently tenant occupied, the property also offers the advantage of existing rental income while a new owner makes plans, lines up contractors, or prepares for a future renovation or move-in.
The existing floor plan includes generous living space, three bedrooms, a full bath downstairs, a half bath upstairs, and a private backyard with the potential to become a lush tropical retreat.
For the right buyer, the appeal is undeniable: an authentic Old Town home, a highly desirable location, existing income, and the opportunity to restore, reimagine, and create something truly special.
Bring your contractor, your creativity, and your vision. This one isn't pretending to be turnkey, but it just might be worth the work. *some photos digitally enhanced only to remove personal belongings
Directions: Grinnell Street between Southard and Fleming.
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Dishwasher: 1
Gas Appliances: 1
Above Flood: Unknown
Conch: 1
Cable Available: 1
FKAA: 1
Fencing: 1
Fruit Tree(s): 1
Property Condition: Fixer Upper
Cooling: Wall/Window Unit(s)
Utilities: Cable Available; FKAA; Municipal Sewer
Appliances: Dishwasher; Gas Appliances; Range; Refrigerator
Exterior Features: Fencing; Fruit Tree(s)
Land Size: Less Than 1/4 Acre
Terms: Cash; Conventional; No Seller Finance
Listing Office: Realty ONE Group Destination
Last Updated: October - 16 - 2026
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