815 Fleming Street, Key West, FL 33040 (MLS# 116025)

815 Fleming Street, Key West, FL 33040

$7,200,000

Property Type: Commercial Lot Size (sq. ft.): 24,197 Status: Closed

Current Price: $7,200,000 List Date: 2/02/2012 Last Modified: 9/09/2024

Description

This listing is for 2 beautiful guesthouses, Coconut Grove (815 Fleming), with 16 rentable fully licensed units, and the Oasis (entrance at 823 Fleming, plus 420 Margaret, and 2 Lopez Ln.), with 20 rentable units. The two properties are currently configured as one large guesthouse compound with seven buildings, three pools, two spa hot tubs (one seats 24). The lush tropical landscaping, with hundreds of orchids, is among the finest in Old Town. Converted from 2 mansions and 4 cottages to guesthouses in 1978, the Oasis was renovated in 1997, and Coconut Grove in 2006 by designer Zeke Fernandez, with upscale furnishings and fine art. Assumable loan to qualified buyers. Huge upside: increase occ rt of 41% to the avg 82% in KW.

More Information MLS# 116025

Contract Information

Listing Board: Key West Association Limited Representation: No As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No For Sale/Lease: For Sale Current Price: $7,200,000 Listing Date: 2012-02-02 Sold Price: $7,200,000

Location, Tax & Legal

KW Neighborhood: Old Town-N of Truman City: KEY WEST Mile Marker: 0.5 Side: Bay/Gulf Alternate Key #: 1005886 Parcel #: 815 Fleming-823 Fleming Bldg Nbr: 0 Zoning: HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med Legal: KW PT LOT 1 & PT LOT 4 SQR 34 G29-417/18 OR302-461/62 OR463-520 OR717-151 OR842-1610 OR883-623 CASE Taxes: 11452.24 Tax Year: 2011 Street #: 815 Street Name: Fleming 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 Size: 87.5'x117.33' Lot SqFt: 24197 Business Name: Coconut Grove Guesth Total Units: 36 Year Established: 1978-01-01 # Parking Spaces: 0 # Stories: 0 Building Ht. Ft.: 0 Total # Buildings: 0 Building SqFt: 13023 Style: Commercial Year Built: 1933

Remarks & Misc

Remarks – Consumer: This listing is for 2 beautiful guesthouses, Coconut Grove (815 Fleming), with 16 rentable fully licensed units, and the Oasis (entrance at 823 Fleming, plus 420 Margaret, and 2 Lopez Ln.), with 20 rentable units. The two properties are currently configured as one large guesthouse compound with seven buildings, three pools, two spa hot tubs (one seats 24). The lush tropical landscaping, with hundreds of orchids, is among the finest in Old Town. Converted from 2 mansions and 4 cottages to guesthouses in 1978, the Oasis was renovated in 1997, and Coconut Grove in 2006 by designer Zeke Fernandez, with upscale furnishings and fine art. Assumable loan to qualified buyers. Huge upside: increase occ rt of 41% to the avg 82% in KW. Directions: Main entrance is at 823 Fleming St., mid-block between William and Margaret Streets in the heart of Old Town Key West.

Deed Restrictions

Unknown: 1

Association Info

Mandatory Home Owners Asc: No Association Fee $: 0

License Info

# of Transient Licns: 3 2-Cop (Beer & Wine): 1 Non Trans Rntl Lic: 1

Type

Hotel/Motel: 1 Other Services: 1

Dockage

None: 1

Property Info

Gross Annual Expense: 0 NOI: 0

Cooling

Wall/Window Unit(s): 1

Construction

Frame: 1

Land Size

1/2 - Less Than 1 AC: 1

Utilities

FKAA: 1 Municipal Sewer: 1

Property Rights

Beverage License: 1 Transient License: 1

Miscellaneous

Fencing: 1 Hot Tub: 1 Lobby: 1 Manager on Premises: 1 Patio: 1 Pool: 1 Security System: 1 Sprinkler System: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Status Change Info

Sold Date: 2012-11-15 Sold Price: $7,200,000 Status: Closed

Property Features

Deed Restrictions: Unknown License Info: 2-Cop (Beer & Wine); Non Trans Rntl Lic Type: Hotel/Motel; Other Services Dockage: None Cooling: Wall/Window Unit(s) Utilities: FKAA; Municipal Sewer Miscellaneous: Fencing; Hot Tub; Lobby; Manager on Premises; Patio; Pool; Security System; Sprinkler System Construction: Frame Land Size: 1/2 - Less Than 1 AC Property Rights: Beverage License; Transient License

Listing Office: At Home in Key West, Inc.

Last Updated: September - 09 - 2024

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