325 Duval Street, Key West, FL 33040 (MLS# 598172)
Key West, FL 33040
14 beds | 12 baths | 2640 sqft
Possible Short term Owner Financing Considered - Lower Duval Street, 12 unit guesthouse complex offering over sized single rooms, suites & 2 bedroom units with kitchens with large heated pool. //// Perfect location within the 2-4 block Entertainment District of Old Town inclusive of bars, restaurants, theaters, Mallory Square attractions and the cruise ship port. >>>> Huge 13,000 sq ft parcel buffered from traffic & street noise, with rooms being setback 40' from Duval. The 200' deep parcel provides a unique 100 foot separation between the front & rear, 3 & 2 story structures - offering guests considerably more privacy. *** Valuable 6 space, compact car guest parking situated between the two collective 7,000 sq.ft buildings. Casa 325 Suites offers a melding of a (7) unit, 100 year old 3 story, ship builders' construction - along with a more recently developed, 5 unit, 2 story structure offering larger rooms & vaulted ceilings. +++ All units have custom furniture built from reclaimed Dade County Pine. Large 2 bdrm ADA unit with kitchen. Prime Duval Street attractions booth included, situated at driveway entrance, currently leased out but should be operated by the Guesthouse operation itself. ||||| Go to Casa325.com for full array of pictures, layout of units & rates. Excellent Trip Advisor Rating. There are also (13) electric meters & ( 7 ) water meters on site. ** See 'Documents for Survey, Licenses & aerial with lot lines ** CASH FLOW - 2021 - $1.3 mil gross with a $725,000 NOI. 89% Average Occupancy Rate [ 95% thru July '22 ] $745,000 Advance Bookings as of 8/06/2022 thru Nov 2023. The over sized rooms and property amenities will support higher rates than what is being charged. (7) out of the 12 units have kitchens
Listing Office: Berkshire Hathaway Knight & Gardner
Last Updated: October - 31 - 2022
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Saturday 10th of December 2022 09:22 AM