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$7,499,000
Key West, FL 33040
MLS# 607301
5 beds | 4 baths | 3173 sqft
1 / 77
Property Description
$500,000 ANNUAL RENTAL INCOME! EXCLUSIVELY LUXURIOUS COMPOUND IN KEY WEST! With its special transient license, The Royal Compound is currently generating $500,000 a year from first-class guests who will accept only the best in vacation homes. What's interesting is that most of the rental income comes from monthly rentals, so you can expect almost as much income without a transient license. This extraordinary home is situated on one of the largest lots (14,183 SF) in Truman Annex and is being offered as the ultimate turnkey property. There are a total of 5 bedrooms and 4 bathrooms: 3 bedrooms and 2 bathrooms in the main house and two 1 bedroom, 1 bathroom private cottages. This expansive property includes a covered seating and dining area under the gazebo, which overlooks the resort-style heated pool and outdoor kitchen. The value of this home is not only its privacy with exotic landscaping, but its ability to generate income when you are away. Schedule your private showing of The Royal Compound to appreciate the uniqueness of this one-of-a-kind property!
Details
Maps
Contract Information
Current Price: $7,499,000
Listing Date: 2023-11-04
Listing Board: Key West Association
List Price: $7,499,000
Bank Owned: No
Location, Tax & Legal
Street #: 101
Street Name: Admirals
Street Suffix: Lane
Key/Island: Key West
State/Province: FL
Zip Code: 33040
County: Monroe
Subdivision: Old Town - Unrecord (1.0)
Mile Marker: 1
Area: 01 - Key West
KW Neighborhood: Truman Annex
Marathon Neighborhood: N/A
Side: Median
Flood Zone: AE
Alternate Key #: 8772858
Parcel #: 00004590-001001
Zoning: HPRD - Hist Planned Redevelopment & Dev Dist
Deed Restrictions: Unknown
Legal: KW PT SQR 27 (A/K/A LOTS 113 & 114) .3256 AC OR1005-78/128 OR1005-190/01 OR1125-218/20R/S OR1246-241/57WILL OR1132-66/6
Taxes: 44114.77
Tax Year: 2022
Pub Sewer HkUp: Yes
General Property Description
Realtor.COM Type: Residential - Single Family
Style: Single Family
Waterfront: No
Pool: Yes
Year Built: 1994
Lot SqFt: 14183
Acres: 0.33
Living Apx SqFt: 3173
SqFt Source: Property Data Card
Total Bedrooms: 5
Full Baths: 4
Total Baths: 4
Rentals Allowed: Yes
Remarks & Misc
Remarks – Consumer: $500,000 ANNUAL RENTAL INCOME! EXCLUSIVELY LUXURIOUS COMPOUND IN KEY WEST!
With its special transient license, The Royal Compound is currently generating $500,000 a year from first-class guests who will accept only the best in vacation homes. What's interesting is that most of the rental income comes from monthly rentals, so you can expect almost as much income without a transient license. This extraordinary home is situated on one of the largest lots (14,183 SF) in Truman Annex and is being offered as the ultimate turnkey property. There are a total of 5 bedrooms and 4 bathrooms: 3 bedrooms and 2 bathrooms in the main house and two 1 bedroom, 1 bathroom private cottages. This expansive property includes a covered seating and dining area under the gazebo, which overlooks the resort-style heated pool and outdoor kitchen. The value of this home is not only its privacy with exotic landscaping, but its ability to generate income when you are away. Schedule your private showing of The Royal Compound to appreciate the uniqueness of this one-of-a-kind property!
Directions: Enter Truman Annex on Southard St., first stop sign make right on Emma St., continue straight. Third stop sign make right on Admirals Ln. It is the first house on the right.
Status Change Info
Status: Active
Association Info
Mandatory Home Owners Asc: Yes
1st Right of Refusal: Yes
Association Fee $: 1324
Assoc/Mnt Fee Per: Quarterly
License Info
Transient Rntl Licns: Yes
Building Style
Above Flood: Yes
Vehicle Storage
Car(s): 4+
Appliances
Other: full house generator
Pool Info
Other: depth 5'
Heated: Yes
Dimensions: 20' x 25' & 19-1/2
Financial Status
Bank Owned: No
Property Features
Fee Includes: Common Area Mnt; Security
Tax Exemptions: None
Waterfront: None
Waterview: No Waterview
Dockage: None
Building Style: Ground Level
Vehicle Storage: Carport; Covered Parking; Off Street Parking
Furnished: Furnished
Cooling: Ceiling Fans(s); Central Air; Ductless
Porch/Balcony: Deck; Open Porch/Balcony; Screened Patio
Utilities: Cable Available; FKAA; Municipal Sewer; Propane
Interior Features: Cathedral Ceilings; Fireplace(s); Granite Counter Top; Security System; Smoke Alarms; Split Bedroom; Window Treatments
Pre-Wired: Cable
Appliances: Dishwasher; Dryer; Ice Machine; Microwave; Oven; Range; Refrigerator; Stainless Steel Appliance(s); Washer
Exterior Features: Bar; Fencing; Gazebo; Hot Tub; Lighting; Outdoor Kitchen; Outdoor Shower; Shed; Sprinkler System; Storage
Pool Info: In Ground; Concrete; Decked
Construction: Frame
Windows/Doors: Double Hung Windows; French Doors; Impact Rstnce Doors; Impact Rstnce Window
Shutters: Panel
Floor: Tile; Wood
Roof: Metal Roof
Security: Manned Gate; Patrolled Area
Land Size: 1/4 - 1/2 Acre
Terms: Cash; Conventional
Title: Negotiable
Listing Office: Last Key Realty, Inc (KW)
Last Updated: April - 01 - 2024
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