420 Olivia Street, Key West, FL 33040 (MLS# 116035)

420 Olivia Street, Key West, FL 33040

$2,000,000

Property Type: Commercial Sale 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

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.

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

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

Status Change Info

Under Contract Date: 2012-11-15
Leased Date: 2012-11-16

License Info

# of Transient Licns: 3

Association Info

Mandatory Home Owners Asc: No

More Information

Financial Status

Potential Short Sale: No

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.