420 Olivia Street, Key West, FL 33040
$2,000,000
Property Type:
Commercial
Lot Size (sq. ft.):
3,317
Status:
Closed
Current Price:
$2,000,000
List Date:
2/02/2012
Last Modified:
9/09/2024
Overview
Description
Listing Details MLS# 116035
Location, Tax & Legal
- Street #
- 420
- Street Name
- Olivia
- Street Suffix
- Street
- Key/Island
- Key West
- State/Province
- FL
- Zip Code
- 33040
- Subdivision
- Old Town - Unlisted (1.0)
- Area
- 01 - Key West
- KW Neighborhood
- Old Town-N of Truman
- City
- KEY WEST
- Mile Marker
- 0
- Side
- Median
- Alternate Key #
- 1018317
- Bldg Nbr
- No
- Taxes
- 12985.97
- Tax Year
- 2011
Contract Information
- Listing Board
- Key West Association
- Limited Representation
- No
- As is Rght to Inspct
- Yes
- For Sale/Lease
- For Sale
- Potential Short Sale
- No
General Property Description
- Realtor.COM Type
- Commercial
- Style
- Commercial
- Lot SqFt
- 3317
- Waterfront
- No
- Business Name
- Seascape Tropical In
- Building SqFt
- 3921
- Year Built
- 1934
- # Parking Spaces
- No
- # Stories
- 0
- Building Ht. Ft.
- 0
- Total # Buildings
- 0
Status Change Info
- Sold Date
- 2012-11-16
License Info
- # of Transient Licns
- 3
Association Info
- Mandatory Home Owners Asc
- No
- Association Fee $
- 0
More Information
Financial Status
- Potential Short Sale
- No
Remarks & Misc
- Remarks – Consumer
- Centrally located,100 steps from Duval is this turnkey B&B with a positive cash flow. When the current owners purchased the property, they embarked on a mission to turn it into a gem. For the last 3 yrs. this has been in the top ten on Trip Advisor B&B Key West list. There are a total of 7 units, one of which is a 2/2 suite, upper decks front and back, great poolside area and side breakfast area. Average annual occupancy in 2011 was 88%. Repeat and personal Referral reservations represent more than 31% of all Bookings. There is still upside potential for room rates. In addition to room revenues there are commissions from bicycle rentals and sport activity. Great opportunity for a couple to live and work in Paradise.
Deed Restrictions
- Unknown
- Yes
Type
- Other Services
- Yes
Dockage
- None
- Yes
Property Info
- Gross Annual Expense
- 0
- NOI
- 0
Cooling
- Wall/Window Unit(s)
- Yes
Electric
- Circuit Breakers
- Yes
Floor
- Carpet
- Yes
- Tile
- Yes
- Wood
- Yes
Interior Features
- Laundry Room
- Yes
Windows/Doors
- Double Hung Windows
- Yes
Construction
- Frame
- Yes
Land Size
- Less Than 1/4 Acre
- Yes
Utilities
- FKAA
- Yes
- Municipal Sewer
- Yes
Title
- Oth Title Ins L.O.
- Yes
Property Rights
- Transient License
- Yes
Miscellaneous
- Manager on Premises
- Yes
- Pool
- Yes
- Storage
- Yes
Roof
- Metal Roof
- Yes
Property Features
Deed Restrictions:
Unknown
Type:
Other Services
Dockage:
None
Cooling:
Wall/Window Unit(s)
Utilities:
FKAA; Municipal Sewer
Interior Features:
Laundry Room
Miscellaneous:
Manager on Premises; Pool; Storage
Construction:
Frame
Electric:
Circuit Breakers
Floor:
Carpet; Tile; Wood
Roof:
Metal Roof
Land Size:
Less Than 1/4 Acre
Title:
Oth Title Ins L.O.
Property Rights:
Transient License
Listing Office:
Preferred Properties (KW)
Last Updated: September - 09 - 2024
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.