1120 Olivia Street, Key West - Price Reduced

I wrote about 1120 Olivia Street when it was first listed. It has not sold and the price was just reduced. I really thought it would sell fairly quickly because it is such a nice stand alone house in a small land based condominium community with a shared pool. 

The listing Realtor describes the home this way:

Rare, standalone home in secluded, residential Lionsgate compound on Olivia. This 2-bed, 2.5 bath Conch cottage is perfect choice for Key West lifestyle. 1120 Olivia has been lovingly maintained. Two covered porches perfect for people watching from front porch swing or relaxing out back on expansive back porch filled with charm. Home's location within gated compound provides privacy and flanks shared courtyard with bricked paths, large swimming pool, outdoor kitchen, lush landscaping. Main floor king master and en-suite bath boast cathedral ceilings, access to private porch. Open floor plan in main living-dining area offers exceptional space that opens to back porch. Light-filled galley kitchen. Second floor bedroom with en suite bath is a quiet retreat. X-flood plain and dedicated off-street parking, shared courtyard with bricked paths, large swimming pool, outdoor kitchen and lush landscaping. Main floor king master and en-suite bath boast cathedral ceilings, access to private porches. Open floor plan in living-dining and galley kitchen area offers exceptional space that opens onto back porch. Second floor bedroom with en-suite bath is a quiet guest retreat. X Flood plain and dedicated off- street parking complete this sweet home. Lion's Gate is a coveted Old Town compound, a must see!

I searched thru my old shoe box and found the black and white photo taken of 1120 Olivia Street in 1965 - long before the renovation and the expansion at the rear was added. The black and white photo does show the carport which has been replaced by brick pavers and which is the exclusive use of 1120 Olivia Street. I then checked the Historic Sanborn Fire Maps. This house was located on this spot on the 1889 map when it was then identified as 517 Olivia Street. The street numbering was changed to 1120 Olivia Street when the 1892 map was published.

 In 1998 the row of for four houses fronting onto Olivia Street were turned into a small condominium community of just seven units. 1118 Olivia and 1120 Olivia are the only stand alone houses in this community.  The $1027 monthly association fee covers trash, pest control, building insurances, maintenance of each building exterior,  plus common area and pool maintenance. Unit owners maintain the insides of their respective homes. Exteriors cannot be altered without association (and HARC) approval.  The result for a home buyer is that 1120 Olivia Street is pretty much a lock and leave where the owner go back up north for the summer (or wherever and whenever) and know that the property will be maintained and cared for. Let's look at the house.

When Key West was rediscovered and buyers started to buy up the old homes, contractors and architects had to figure out how make the many small houses more functional to the way we live today. This house is one example of how a small house was made bigger and more functional.
An two story addition was added to the rear. The main floor would then become the prime living area with views of the pool. The original front door became the door door from the master bedroom onto the private veranda. The old got some gingerbread and privacy that previously did not exist.

The original front rooms got remade into the master bedroom and master bath. The wood ceiling was removed. The bedroom then had a vaulted ceiling which gave the room an expansive feel - so much so that the current owner employed a canopy bed to scale down the impact of the soaring space. The master bath is en-suite.

The Old Town area is replete with small homes on small lots. This home is one of many that were either a part of the old Pohalski Cigar Factory assemblage or just happened to be located within a few feet of being a part of it. Jerome (Gerome) Lane runs paralell to current day White Street to the east and Pohalski Lane to the west. Jerome Lane had several small cigar maker cottages located on the east side of the lane which no longer exist. My belief is that most of these lots were added onto the White Street houses but a couple became a part of the Lionsgate Condominium's courtyard which includes a pool and outdoor bar-b-que area. A couple of other cottages may have been razed to provide parking off Pohalski Lane to other owners.

The rear veranda, though open to the courtyard view, is mostly private. Landscaping inhibits others from looking into the private space. And since there are only five units total, the number of comings and goings by the space will be limited. Notice there are three doors across the back of the house. The door to the right opens into the kitchen. The French doors and single door open from the living area out to the veranda thereby expanding the inside to the outside.

The new rear addition provides an open concept living space where living flows smoothly between traditionally compartmentalized living room, dining area, and kitchen. The second floor is accessed via the wooden spiral staircase.

You may not be familiar with this part of Old Town, but I bet you know it better than you think. The famous Coffee Mill Dance Studio is located up Pohalski Lane. Sandy's Cafe is a block and half to the south on White Street. The Old Town gym is located two blocks west on Truman. Fausto's grocery is two blocks south on White.  Duval Street is a seven to ten minute walk on Olivia Street or Truman Avenue. You and your guests will be close to all the essentials but far enough away not to be a part of the commotion.

CLICK HERE to view the Key West mls datasheet and listing photos of this really pretty Key West property which is now offered for sale at $939,000. Then please call me, Gary Thomas, 305-766-2642, to schedule a private showing of this really cute two bedroom  two and one-half bath home. I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your home in Paradise.

Recent "SOLDS" in Key West

A few weeks ago a reader asked if I ever report on houses that I wrote about which sold. I replied back that I usually do a years-end recap. We are near the end of our spring selling season so now is just as good a time as any to report on what sold since January 1st.

Click on any blue linked address to read the blog I wrote about the specific property. Compare what I wrote then to what the property sold for. 

1230 5th Avenue was a real bank owned "fixer".  The place had its share of problems because of what looked like un-permitted home owner remodels gone bad.  The house was initially listed at $340,000 and was reduced to $199,900 when it finally went under contract. The property sold at $207,000 or $7,100 over asking price.

I wrote about the Sunrise at Seaside Short Sale in May 2011. The initial asking price was $278,000 but the unit sold for just $215,000. That price included a transient rental license and all furnishings.

419 United Street #2 was a two bedroom condo in a large old Key West home that had been converted into four condos. The asking price on this short sale was just $299,000. The buyer ended up paying only $235,000 for the unit which has its own private swimming pool - not part of the common area. Great deal for the buyer who hung on and on and on.

Coincidentally the same agent who listed 419 United Street also listed 1133 Von Phister which I wrote about a couple of years ago. This 'condo' was carved out of a larger house with huge grounds that were sold separately during the housing boom. This little unit sold for $750,000 back then but was re-sold as a short sale for just $240,000. That's an incredible price for a small house in the Casa Marina area. This is one lucky buyer.

I wrote about the quite large bank owned 'fixer' at 1017 17th Street in July 2011. It was offered at $359,000 at that time. It eventually sold at $281,000.

The just darling little cottage at 1118 Olivia Street is part of the Lionsgate Condominiums. It is a stand alone house in the exclusive little development. It was listed at $365,000 and sold in eight days for $352,500.

Speaking of cute, the cute little two bedroom home at 1216 Knowles Lane was listed at $399,000 and sold five days later for $390,000. The Old Town location and quite little lane attracted many buyers at the outset of the season.

There is one house I did not write about, but was tempted to do so. It was on Realtor caravan several months ago. The listing agent was a dear friend of mine at Prudential. Perhaps forty agents went inside this particular house and within a few seconds had flashbacks to our college days. The aroma of weed permeated that air - almost as thick as the smell of burning brush along the Florida Turnpike. That little peace of paradise eventually sold. Congrats to my friend who stuck with this property.

I wrote about the property at 846 Olivia Street a couple of times. It was originally offered at $529,000. The location across the street from the Key West cemetery spooked a lot of potential buyers. That cemetery has always suppressed prices. It's a shame because the cemetery provides a quite environment at night, and during the daytime the open spaces provide abundant light that is often missing in many parts of Old Town. The house sold at he end of February for $410,000. Quite a bargain.

I wrote about 1025 Thompson Lane several times. It was originally priced at $525,000 and went through several price reductions. The really charming home sold for $435,000. That is less than the cost of a condo at Shipyard. The house is adorable. Somebody got a great deal.

215 Golf Club Drive was a bank owned property originally listed at $478,900. When the asking price was reduced to $464,900 several offers were made which resulted in a best and final bidding situation. The house sold for $465,000. That was another great buy.

Old Town lovers will remember the charming house at 2 Hunts Lane that was offered at $489,000. This little gem sold at $470,000 or $480 per sq ft.

Meadows lovers may recall the super cute two bedroom/two bath home with a pool (but no parking) at 1311 Newton Street. I showed this lovely home several times. I really liked it. It sold for $474,150. or $605 per sq ft.

 

I wrote about the Rose Tattoo House at 1421 Duncan Street a couple of times over the past few years. It was the site where the famous movie of the same name was filmed. Tennessee Williams, the playwright, lived next door at 1421 Duncan (see photo above) and watched filming.  The house was listed at $615,000 and sold for $530,000.

The cute little cottage at 1123 Von Phister Street is located just a couple of doors from where I lived.  It was listed for sale at $595,000 and sold at $540,000. It was purchased by the owner of the larger house next door and will be used as a guest cottage. This house sold at $632 per sq ft. What a deal! 

Then there was the super clean and ultra-neat two bedroom/two bath two story townhome located at 1005B United Street. Listed at $589,000 this place sold for $540,000. It had a beautiful new kitchen and gracious decorating throughout. It set the stage for two other sales of similar units located nearby but neither of which compared to the interior features of this place. This buyer won!

627 Southard Street was a bank owned property from hell. The property was listed at $399,900 on April 3rd and went under contract on April 10th. It sold for $560,000. I heard there were ten offers submitted. I submitted an all cash offer of $555,000 for a buyer.  Workers are at the property now demolishing much of the interior to make way for new renovations. This property has a great Old Town location. The building was the scene of intolerable cruelty to animals. It's really troublesome that a city that will not let a homeowner cut down a tree or paint a house an odd color of blue would sit back and do nothing to protect helpless little animals.

1104 Angela Street appeared in my blog several times. It is a really nice little two bedroom/two bath home with a pool and parking. It was listed at $619,000 and sold at $575,000 or $434 per sq ft. I think the new owner got a great little house for the money.

Speaking of great little houses, the so charming home at 811 Carey Lane was listed at $589,000 and sold for $580,000. This place has a cool, laid back style that I just loved. It did not have a pool and one of the bedrooms was a bit smallish. Those are both things that could be changed. The location is terrific.

I got a phone call this past weekend from a reader who asked about 1319 Newton Street. He read about the house in my blog and looked at it with another agent. (I hate that.) He asked how much it sold for. Asked: $595,000. Sold: $586,000. No pool or parking, but this was and is one of the prettiest little houses in Key West. By the way, the caller is now looking again and this time he wants me to show him houses.

6 Havana Lane was a "steal". I really liked this house. It had everything potential buyers wanted except a prime location. The lane is just off Truman Avenue and some buyers pooh-poohed it. They missed the point. This house has two (or three) bedrooms, a pool, and off street parking. The inside of the house is as cute as can be. The exterior is really quite charming and the grounds are seductive. It is located  the same distance from Duval as houses that cost twice as much. This house was listed at $625,000 and sold for $600,000 or $588 per sq ft. Great buy!

811 Washington #103 was a short sale of a recently built three story 3 bed/ 3.5 bath townhome with private pool, Viking kitchen, and superior construction and features throughout. The house listed and sold at $655,000 or $292 per sq ft. All this and a superior Casa Marina area location to boot. Congratulations!

920 Cornish Lane is another Key West storybook cottage success story. This lovely little home was offered at $735,000 and sold for $705,000 or $714 per sq ft. Remember this place had no pool nor parking. Quite a high price for a great little property.

204-1 Southard Street appeared in my blog as well. It is a lovely two story three bedroom end unit with 1100 sq ft of living space and an enviable on the park location in Shipyard. This house was offered at $$795,000 and sold at $742 or $674 per sq ft. Prices are on the rise in Shipyard.

La Casa Roja at 1403 Catherine Street went under contract in just one day and sold at the asking price of $750,000. This has got to be one of the sweetest homes in Key West. I heard the home inspector said he had never seen a house in such good a condition or that had such superior construction in all the time he had been a contractor or home inspector.

815 Sawyers Lane was listed just before Christmas in 2011 at $829,000.It sold for $775,000. The eyebrow house is located on a storybook lane near the Key West seaport.The house had 2 or 3 bedrooms, 2 baths, a pool, and off street parking.

I showed the grand old house at 1114 Fleming Street several times over the past year. I really loved the old school character of this property. Various features of the house showed the age of the place including some extra wide old growth wood, window panes that rippled with age, and simple design elements that new homes no longer use. This place is a Key West charmer! It sold at $980,000 down from the original $1,450,000.

628 William Street appeared in my blog a several times over the past few years. It was offered at $$.039,000 and sold for $995,000. The home had 2 or 3 bedrooms, 2 baths, a pool and off street parking. And it is located on one of the very best blocks in Old Town. This buyer got a great buy.

 1320 Reynolds Street appeared in my blog on March 7th, just days after being listed for $2,200,000. The asking price on this Casa Marina contemporary went under contract a couple of weeks later and closed on May 29th at $1,950,000.


If you are thinking of buying a home in Key West please consider working with me, Gary Thomas. I am a buyers agent and a full time Realtor at Preferred Properties Key West. Contact me at 305-766-2642 or by email at kw1101v@aol.comkw1101v@aol.com. Let me help you find your home in Paradise.