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

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.

More Information MLS# 116035

Contract Information

Listing Board: Key West Association Limited Representation: No As is Rght to Inspct: Yes Potential Short Sale: No For Sale/Lease: For Sale Current Price: $2,000,000 Listing Date: 2012-02-02 Sold Price: $2,000,000

Location, Tax & Legal

KW Neighborhood: Old Town-N of Truman City: KEY WEST Mile Marker: 0 Side: Median Alternate Key #: 1018317 Bldg Nbr: 0 Taxes: 12985.97 Tax Year: 2011 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

General Property Description

Realtor.COM Type: Commercial Waterfront: No Lot SqFt: 3317 Business Name: Seascape Tropical In # Parking Spaces: 0 # Stories: 0 Building Ht. Ft.: 0 Total # Buildings: 0 Building SqFt: 3921 Style: Commercial Year Built: 1934

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: 1

Association Info

Mandatory Home Owners Asc: No Association Fee $: 0

License Info

# of Transient Licns: 3

Type

Other Services: 1

Dockage

None: 1

Property Info

Gross Annual Expense: 0 NOI: 0

Cooling

Wall/Window Unit(s): 1

Electric

Circuit Breakers: 1

Floor

Carpet: 1 Tile: 1 Wood: 1

Interior Features

Laundry Room: 1

Windows/Doors

Double Hung Windows: 1

Construction

Frame: 1

Land Size

Less Than 1/4 Acre: 1

Utilities

FKAA: 1 Municipal Sewer: 1

Title

Oth Title Ins L.O.: 1

Property Rights

Transient License: 1

Miscellaneous

Manager on Premises: 1 Pool: 1 Storage: 1

Roof

Metal Roof: 1

Financial Status

Potential Short Sale: No

Status Change Info

Sold Date: 2012-11-16 Sold Price: $2,000,000 Status: Closed

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
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