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Wednesday, June 17, 2015

714 Olivia St #4, Key West - Bank Owned with Transient License

There is a new Bank Owned listing at 714 Olivia Street, Unit #4 in Old Town Key West that is something to cheer about - the reason is it has a very valuable Transient Rental License and is affordably priced.  The listing Realtor describes this property this way:
"Cottage style condominium with a transient license in Old Town Key West. The one level cottage has vaulted ceilings, tile floors, open floor plan and french doors in the living room and bedroom that open onto porches. The condo is being sold furnished. The Colony Condominium is a small community with a large beautiful pool and off street parking."
This is one of nine units total. Some of the units share a 'common wall' with an adjacent property. This his an historic property that was updated and expanded just a bit when the property was turned into condominiums. 
The deck at the front of the house looks off to the pool and the winding bricked sidewalk which leads to  the front entry.  There is also a private rear deck accessed off the kitchen were you might have a grill or lounge chairs for more private chilling or entertaining.
Unit #4 is a one bedroom, one bath condo with 526 sq ft of interior living space. It has a valuable Transient Rental License which permits daily, weekly, or monthly rentals. A new owner is not required to rent the unit at all, but having the viability to rent daily or weekly makes this particular property very valuable in the eyes of many. The condo fees are 1400 per quarter and cover trash, sewer,trash removal, building maintenance and insurance, and common area & pool maintenance.  This property in located in an excellent part of Old Town and could be easily rented throughout most of the year if the new owner wanted to do so.  CLICK HERE to see more photos I took.

CLICK HERE to view the Key West mls datasheet and to learn more info on this unit. Use the drop down menu for more info.  Then please call me, Gary Thomas, 305-766-2642, to set up a showing on this neat and well located property.  I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise.


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The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.

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Gary Thomas in a Nutshell

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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.