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Sunday, January 11, 2009

1118 Olivia Street - Old Town - Key West Cottage

This is how the listing Realtor describes the Key West cottage located at 1118 Olivia Street: "Bank Owned. REO. Bank Foreclosure. Easy to see! One of a 7 unit condo compound on Olivia Street in Old Town Key West. It is a stand alone structure with vaulted ceilings, tiled floors, stained glass, and a covered rear deck. Brick walkways, large heated pool, landscaping, and a great entertainment area pool side add to the charm of this compound . It is located within biking distance to the beach and the downtown area. Located less than one block off White St where you will find restaurants, gym, galleries, food stores, many local shops and the famous, monthly Walk on White. Parking! Qualified Buyers may be eligible for Seller financing at below market rates, FHA, and other incentives available where applicable. Fast response from Bank."

The cottage is located in the Lionsgate Condominium Compound. The compound is a group of five houses that share a common pool, a small common area, and off-street parking. With the exception of two buildings that are "duplexes", the other properties were single family homes that were incorporated into the compound.

This house has 851 sq ft of living space under roof and has two bedrooms and one bath. However, one of the bedrooms is on the second level and would be more appropriately called a bonus room rather than a bedroom. French doors lead from the living area onto a private covered read deck and orchid garden. There is an enclosure for the washer and dryer. The house also has hurricane shutters. CLICK HERE for more information and photos of this house and the common area and pool. CLICK HERE for a rear view of 1118 Olivia and the house next door to the east. CLICK HERE to see the front view of the other homes that make up the Lionsgate compound.

The property is five minute walk due west to Duval Street and maybe five minutes to the Historic Seaport. Nearby neighborhood hangouts include the Coffee Mill studio, Key West Island Gym, Faustos Food Palace, Dion's Gas Station and purveyor of great fried chicken (no kidding!), Dog 30 (pet store for pampered pups), a fresh fish place, a bike shop, some Realtors, and lots of small restaurants and Cuban coffee joints. It is a real Key West neighborhood.

1118 Olivia Street has what many second home owners dream of owning: a charming Key West cottage in a good location and a pool. The asking price on this charmer is only $359,000 or $422 per sq ft. This property will not last long, not at that price.

Please call me, Gary Thomas, 305-766-2642 or e-mail me at to arrange a showing or to provide more information.

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Key West, Florida, United States
I first read about Key West in a magazine called "After Dark" sometime in the mid 1970's. But it wasn't until March 1984 that I made my first visit to the island that would become my home. I had two weeks for a vacation and reserved a room at Colours Guesthouse (now Marrero's Guest House) for one week. I thought that if I didn't like Key West, I could always go back to Miami or Ft. Lauderdale for the rest of my trip. But after a couple of days in Key West, that was no longer a consideration. But when I wanted to extend my stay for the extra week I found there was no room at the inn. The guesthouse owner did find me a room at LaTeDa, the infamous guesthouse/restaurant. That's a story I'll write another day. But those two weeks in Key West gave me the realization that I had found Paradise. Key West has been my home since 1993 and my only regret is that it took me so long to get here. I am a full time Realtor at Preferred Properties CRI. Let me help you find your new home or business in Paradise. Living in Paradise is not a slogan, it's a way of life.