739 Olivia Street, Key West - Bank Owned

Whoa! I really had to dig deep into my shoe box and dust off some of the images. It has been so long since I wrote a blog about a Bank Owned property in Key West. 739 Olivia Street, Key West has been the subject of foreclosure since 2007. That is not a typo. (I'll bet the guys in the foreclosure department did a jig or three when this was finally completed)

 

Let's look at the black and white photo of the house taken in 1965 and the Historic Sanborn Fire Map from 1892 to see what we see. The Monroe County Property Appraiser records say the house was built in 1943. The Map shows a grocery store and a rectangular building at 741 Olivia St which is 739 Olivia Street now. The taller structure on the side abutting Windsor Lane no longer stands.

Let's start with the map. The 1889 Sanborn Map does not show any properties in this area but we know that the area had many structures. The 1892 map shows the property so we know it existed as of that date. I was surprised to see the large rectangular building at the corner of Windsor Lane and Division Street. There are two old cigar maker style houses there now. I did not realize that until I started to write this blog. 

 I added a check mark to point out the obvious - the floors are not level. The house needs a lot of work.

The MLS listing says 

"This Old Town Key West cottage is located on the corner of Olivia Street and Windsor Lane. The possibilities are endless with this fixer upper. This property was under construction and is now partly gutted. This home will be sold in as is condition with no appliances. Home is a 2/2 with a bonus room that opens up to the rear deck. This home also has off street parking." 

I think the former owner took the plumbing fixtures and walls as souvenirs of his life there. I am probably right about this.

The lot measures 60 Ft X 43 Ft or 2,592 Sq Ft. The existing house is 768 Sq Ft. HARC rules will apply to any renovation.  There will be multiple offers on this property. Realtors waking up will be getting bombarded by buyers.  

739 Olivia St is located across the street from Trujillo Grocery I wrote a blog about the historic property in 2018. CLICK HERE to read the story. The grocery is still there. This is a three way stop corner. Lot's of traffic in the daytime. Not so much as night. 

CLICK HERE to view the Key West MLS datasheet and listing photos of the interior. Then please call me, Gary Thomas, 305-766-2642, to discuss this property. A visit may be nice but you won't see much more than you see in the photos. You will appreciate the location or not. This is a fixer upper at the listing Realtor states. I am a buyers agent and a full time Realtor at Preferred Properties Key West.