718 Olivia Street - Old Town - Key West

718 Olivia Street - Old Town- Key West

If you are looking for a "project house" on a big lot and situated in a good Old Town location, you may want to take a look at 718 Olivia Street which was just listed at the asking price of $679,000. The listing Realtor describes the property thus:

"A grande historic house built between 1899 and 1912. 5 bedrooms. 2 bathrooms. Large LR, DR and kitchen. Beautiful hardwood floors. High ceilings and 23 large windows create a steady flow of light and air. 9401 sqft lot with BIG 85' x 65' back yard. Easy walk or pedal to anywhere in Old Town."

The listing Realtor states "Sanborn Insurance map shows house built btwn (between) 1899 and 1912". I found a photo of the house from half a century ago that shows the house without all of the current trees and assorted foliage.

Photo from 1965

Photo from 2011 - note the cinder block front fence

Photo from January 2012

A huge Royal Poinciana tree dominates the front yard today. The front porch today still has the same wrought iron posts as shown in the 1960s vintage photo as well as the jalousie windows and the concrete block front fence.

East side of the property

CLICK HERE to view the Key West Association of Realtors mls datasheet and listing photos of this home. You will note that the listing states this house has 1538 sq ft of living space. The property site is much larger than the photos suggest. The front parcel (where the house is located) occupies only about 2600 sq ft of the entire 9401 sq ft lot. The remaining lot is located at the west rear of the front parcel. That is the space where one would likely add a pool and/0r guest quarters.

If you are looking for a renovation project in the Old Town Key West area this may be the house you have been searching for. The house certainly has street appeal and the yard space is just huge. Creating a viable plan for the property as a whole is the key to making a project like this work. We have several knowledgeable local architects that could help a buyer develop a winning concept for this one of a kind property.

I sold the beautiful home next door at 716 Olivia Street a couple of years ago. Before it was recently updated 716 Olivia looked similar to the way it appeared for decades as shown in the old black and white photo.

716 Olivia Street as it looked in 1965

716 Olivia Street as it appears in January 2012

What could you do to improve 718 Olivia Street? Please call me, Gary Thomas, 305-766-2642, to schedule a view of this property. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

716 Olivia Street - Key West - Short Sale

The Arts & Crafts house at 716 Olivia Street is sitting vacant and looks a little forlorn. The county records say it was built in 1938 but those records have been known to be wrong because the Great Key West Fire destroyed the county records. So many buildings were given approximate dates of construction. Be that is it may, this house has been basically rebuilt with all of the features we require in the first decade of the 21st Century.

The renovation to this 2352 sq. ft house of 4 bedroom and 3 bath house is nearly complete. Interior finishes include Walker-Zanger stone baths and kitchen, Omega custom cabinetry, pre-wired multi-zoned sound system, Dade County pine, mahogany and maple floors with walnut inlays. Don't overlook the custom designed wrought iron stair rails. Outside features include attached carport, cabana with half-bath, storage and entertainment area bordering a 35'x13' heated pool with lap-lane and spa lined with imported English glass and Jerusalem stone coping. The lot is 5146 sq ft. The house is about 90% finished which means the buyer gets to complete the tiling of the pool, the cabana, the landscaping, and the installation of the kitchen appliances.

Everything that has been done or installed was done correctly and with attention to detail. The finishes and materials are first rate. The master bedroom suite takes up the entire rear of the house and it features a large balcony overlooking the pool and gardens (to be) below. The masterbath is bright, elegant, and appointed. The other bedrooms and baths are equally well appointed, but not quite as large.

The first floor has a formal living room, study, bath, dining room with french doors that open onto one of the decks, laundry room, and a very large and bright eat-in kitchen.

The house is located about a 3 minute walk to Duval. But its only one minute to Seven Fish Restaurant. You're close to everything, but far enough removed to enjoy the quiet neighborhood.

CLICK HERE for more information on this one of a kind Key West home. If you like what you see, please call me, Gary Thomas, 305-766-2642 to schedule an appointment to see this property. It is priced at $1,995,000 and it is a Short Sale. This is not my listing. And this is just my opinion: this house will most likely sell at a price way below the asking price. I encourage realistic buyers to look at this property. I think this property will require a Cash Offer to get approved.