The asking price on 1107 Olivia Street in Old Town Key West was just reduced again. Now this recently renovated eyebrow house with a pool and a City of Key West Transient License is attractively priced to sell at $725,000 or $644 per sq ft. CLICK HERE to see the mls listing data sheet and listing photos.This property was originally offered for sale at $1,250,000 when it was first listed in May 2009. The asking price has been periodically reduced to the current price point. I think someone may finally make a serious attempt to purchase this property now.
1107 Olivia Street is located one half block east of the Key West Cemetery. CLICK MAP to see location. Duval Street is a five to seven minute stroll. The shops, restaurants, galleries, gyms and assorted local businesses in the Truman and White arts district are just five minuets away. The Historic Key West Seaport can also within an easy walking distance. A full time homeowner or a tourist in town for a few days often measure the convenience of a property by how long it takes to get to a particular destination. Nearness to gyms, restaurants, and bars makes a house with a transient license that much more desirable and marketable.
This house has two bedrooms and two bathrooms. The master bedroom and primary bath are located on the first floor. The second bedroom and bath are on the second floor. The second floor has an unconventional floor plan that is more "loft like". It does not offer traditional privacy that some might require. I'm not being judgmental. But this may be part of the reason this house has not sold. A buyer who requires traditional enclosed space could fix this house without spending too much money in my opinion. But some money will need to be spent. The furnishings are not included in the offering but could be purchased separately. It might be more fun to decorate the place yourself and get exactly what you want anyway.
The pool is small but it is a real pool. There is a great second floor sundeck that provides great views of the immediate area. I think this feature is really neat. I wish I had taken photos of it when I showed the property.
The property does not have off street parking. However, there is an abundance of off street parking nearby. I don't see that parking would be an issue for a full time owner.
If you would like to see 1107 Olivia Street, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. Our office is the Exclusive Lower Florida Keys Affiliate of Christie's Great Estates. Let me help you find your place in Paradise.
