NOT LISTED FOR SALE

508 Virginia St Key West, FL 33040

Old Town Neighborhood

Estimated Value: $4,060,532 - $4,947,000

3 Beds
4 Baths
2,281 Sq Ft
$1,989/Sq Ft Est. Value

Last Sold December 17, 2024

Last sale price $4,750,000 $2,082 Per Sq Ft

Est. 4% decrease in value since last sale

Current estimated payment $26,861/month

105 Days on Market

About This Home

As of December 2024

This magnificent TRANSIENT rental property with two homes and a heated pool blends privacy with convenience. Nestled in historic Old Town and just steps from Duval Street, this 3 bedroom/3.5 bath complex has a strong rental history. Once home to iconic fashion designers, this gated haven will astonish you. To your right is the main single-story building which includes a king bedroom and large, sleek ensuite bath. Vaulted ceilings, skylights, exposed beams, and French doors surround the expansive open concept living room and dining room. The space is bathed in sunlight and perfect for entertaining. At the far end of the main building, you will find a spectacular stainless steel commercial kitchen with a vaulted ceiling and outdoor views. Equipped with prep areas, an island, cabinetry, a double sink, and an oversized gas range with hood, you have everything you need to prepare meals or parties for large groups. A personal Chef would be delighted to cook in this kitchen. As you move out onto the covered porch, you will enjoy indoor-outdoor living at its finest. With easy access to the pool, you can spend your afternoon relaxing outdoors. The porch provides a respite from the sun and an area for al fresco dining. The two-story home at the rear of the property stacks two spacious bedrooms with ensuite baths and seating areas. Each is complemented with either a balcony or covered porch overlooking the pool. Guests or extended family can mingle around the gorgeous outdoor area or retreat to their own private spaces. Both homes surround the large pool with the convenience of an outdoor shower. The complex's stunning tropical lush landscaping and privacy fencing offers a tranquil oasis including off-street parking, a rare amenity in Key West. From here you can walk to Higgs Beach, the Southernmost Point and the shops and restaurants on Duval Street. This opportunity to own a transient rental property in an ideal location won't last long. Call today for a private showing!

Last Agent to Sell the Property

Brenda Donnelly

Brenda Donnelly Real Estate LLC License #3037635 Listed on: 07/26/2024

Last Buyer's Agent

Rodney Culiver

Last Key Realty, Inc (KW) License #SL3426316

Home Details

Home Type

Single Family

Year Built

1945

Lot Details

6,970 Sq Ft Lot

Listing Details

  • Property Type: Residential
  • Style: Single Family
  • As Is Right To Inspect: Yes
  • First Right of Refusal: No
  • Mandatory HOA: No
  • Fee Includes: None
  • Key Island: Key West
  • K W Neighborhood: Old Town-S of Truman
  • Limited Representation: No
  • Marathon Neighborhood: N/A
  • Mile Marker: 1.00
  • M L S Identifier: 20060123165453488875000000
  • Neighborhood Feature: Beach
  • Off Shore Island: No
  • Pets W Restrictions: YES
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Conventional
  • Side: Median
  • State Province: FL
  • Taxes: 29028.73
  • Title: Negotiable
  • Vehicle Storage: Off Street Parking
  • Year Built: 1945
  • Alternate Key Number: 1028517
  • Cooling Heating: Central Air, Ductless, Ceiling Fans(s)
  • Lot Sq Ft: 6824.00
  • Pool Info: In Ground, Salt Water
  • Pool Info Heated: Yes
  • Porch Balcony: Open Porch/Balcony, Patio, Deck
  • License Info Number Of City License: 1
  • License Info Number Of County License: 1
  • Species List: No
  • Tax Exemptions: None
  • Building Style Above Flood: Yes
  • License Info Transient Rntl Licns: Yes
  • Estimated Living Sq Ft: 2281.00
  • Financial Status Standard Sale: Yes
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Interior Amenities: Drapes/Blinds Incl, Sky Light(s), Walk-in Closet(s), Smoke Alarms, Fireplace(s), Split Bedroom, Cathedral Ceilings
  • Total Bathrooms: 4.00
  • Full Bathrooms: 3
  • Appliances: Washer, Stainless Steel Appliance(s), Wine Cooler, Ice Machine, Gas Appliances, Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
  • Floor: Tile, Concrete, Wood
  • Half Bathrooms: 1
  • Specialty Rooms: Laundry Room
  • Windows/Doors: French Doors
  • Total Bedrooms: 3

Exterior Features

  • Dockage: None
  • Waterfront: None
  • Waterfront: No
  • Construction: Frame
  • Exterior Features: Detached Guest Qtrs, Storage, Privacy Wall/Fence, Outdoor Shower, Lighting, Rain Gutters
  • Roof: Metal Roof
  • Waterview: No Waterview
  • Pool: Yes

Utilities

  • Utilities: FKAA, Cable Available, Municipal Sewer
  • Heating: Propane Stove

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: X
  • Parcel Number: 00027740-000000
  • Land Size: Less Than 1/4 Acre
  • Acres: 0.16

Rental Info

  • Rentals Allowed: Yes
  • Furnished: Furnished

Tax Info

  • Tax Year: 2023

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 26, 2024
Closed on
Dec 17, 2024
Sold by
Nuseas Llc
Bought by
Royal Palms 508 Llc
Seller's Agent
Brenda Donnelly
Brenda Donnelly Real Estate LLC
Buyer's Agent
Rodney Culiver
Last Key Realty, Inc (KW)
List Price
$5,299,000
Sold Price
$4,750,000
Premium/Discount to List
-$549,000
-10.36%
Views
348
Current Estimated Value
$4,537,133

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$212,867
Avg. Annual Appreciation
-3.55%
Original Mortgage
$3,325,000
Outstanding Balance
$3,292,856
Interest Rate
6.79%
Mortgage Type
New Conventional
Estimated Equity
$1,244,277

Purchase Details

Closed on
Jan 17, 2020
Sold by
Coral Head Key West Llc
Bought by
Nuseas Llc

Purchase Details

Listed on
Nov 5, 2018
Closed on
Jan 16, 2019
Sold by
Kay Oneill Julia
Bought by
Coral Head Key West Llc
Seller's Agent
Team Kaufelt
Truman & Co. (KW)
Buyer's Agent
Brenda Donnelly
Brenda Donnelly Real Estate LLC
List Price
$2,195,000
Sold Price
$2,000,000
Premium/Discount to List
-$195,000
-8.88%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
12.07%

Purchase Details

Listed on
Nov 5, 2018
Closed on
Jan 15, 2019
Sold by
Kay Oneill Julia
Bought by
Coral Head Key West Llc
Seller's Agent
Team Kaufelt
Truman & Co. (KW)
Buyer's Agent
Brenda Donnelly
Brenda Donnelly Real Estate LLC
List Price
$2,195,000
Sold Price
$2,000,000
Premium/Discount to List
-$195,000
-8.88%

Purchase Details

Closed on
Mar 13, 2007
Sold by
Powell Barbara
Bought by
Powell Barbara and Barbara Powell Qualified Personal Reside

Purchase Details

Closed on
May 5, 2004
Sold by
Provident Investments Llc
Bought by
Powell Barbara

Purchase Details

Closed on
Oct 30, 2002
Sold by
Jeffries Michael
Bought by
Provident Investments Llc

Purchase Details

Closed on
Aug 1, 1994
Bought by
Powell Barbara Qualified Pers Res 2/16/2007

Purchase Details

Closed on
Feb 1, 1994
Bought by
Powell Barbara Qualified Pers Res 2/16/2007

Purchase Details

Closed on
Nov 1, 1990
Bought by
Powell Barbara Qualified Pers Res 2/16/2007

Purchase Details

Closed on
Dec 1, 1988
Bought by
Powell Barbara Qualified Pers Res 2/16/2007
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Royal Palms 508 Llc $4,750,000 None Listed On Document
Royal Palms 508 Llc $4,750,000 None Listed On Document
Nuseas Llc $3,500,000 None Listed On Document
Coral Head Key West Llc $2,000,000 None Listed On Document
Coral Head Key West Llc $100 None Listed On Document
Coral Head Key West Llc $100 None Listed On Document
Coral Head Key West Llc $100 None Listed On Document
Coral Head Key West Llc $100 None Listed On Document
Coral Head Key West Llc $2,000,000 None Listed On Document
Coral Head Key West Llc $100 None Listed On Document
Coral Head Key West Llc -- Attorney
Powell Barbara -- None Available
Powell Barbara $1,950,000 --
Provident Investments Llc -- --
Powell Barbara Qualified Pers Res 2/16/2007 $570,000 --
Powell Barbara Qualified Pers Res 2/16/2007 $553,200 --
Powell Barbara Qualified Pers Res 2/16/2007 -- --
Powell Barbara Qualified Pers Res 2/16/2007 -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Royal Palms 508 Llc $3,325,000
Closed Royal Palms 508 Llc $3,325,000
Previous Owner Provident Investments Llc $650,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
12/17/2024 12/17/24 Sold $4,750,000 -5.0% $2,082 / Sq Ft
11/08/2024 11/08/24 Pending -- -- --
10/22/2024 10/22/24 Price Changed $4,999,000 -5.7% $2,192 / Sq Ft
07/26/2024 07/26/24 For Sale $5,299,000 +165.0% $2,323 / Sq Ft
01/15/2019 01/15/19 Sold $2,000,000 -8.9% $877 / Sq Ft View Prior Sale
11/21/2018 11/21/18 Pending -- -- --
11/05/2018 11/05/18 For Sale $2,195,000 -- $962 / Sq Ft
Source: Key West Association of REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $31,387 $3,922,855 $1,837,567 $2,085,288
2024 $29,029 $3,971,437 $1,837,567 $2,133,870
2023 $29,029 $3,622,264 $1,575,218 $2,047,046
2022 $26,014 $3,262,902 $1,193,518 $2,069,384
2021 $24,356 $2,732,543 $882,753 $1,849,790
2020 $22,476 $2,525,042 $875,997 $1,649,045
2019 $16,129 $1,782,284 $923,287 $858,997
2018 $6,981 $769,917 $0 $0
2017 $6,953 $754,082 $0 $0
2016 $7,185 $738,572 $0 $0
2015 $7,325 $733,438 $0 $0
2014 $7,552 $727,617 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Brenda Donnelly

    Seller's Agent in 2024

    Brenda Donnelly

    Brenda Donnelly Real Estate LLC

    (305) 304-1116

    56 in this area

    140 Total Sales

    Brenda Donnelly
    Section Image
  • Rodney Culiver

    Buyer's Agent in 2024

    Rodney Culiver

    Last Key Realty, Inc (KW)

    (305) 292-6266

    10 in this area

    53 Total Sales

    Rodney Culiver
    Section Image

  • A

    Buyer Co-Listing Agent in 2024

    Andrea Otava

    Last Key Realty, Inc (KW)

    (305) 504-4103

    2 in this area

    16 Total Sales

    Andrea Otava
    Section Image
  • Team Kaufelt

    Seller's Agent in 2019

    Team Kaufelt

    Truman & Co. (KW)

    (305) 393-1267

    80 in this area

    167 Total Sales

    Team Kaufelt
    Section Image

  • J

    Seller Co-Listing Agent in 2019

    Jackson Kaufelt

    Truman & Co. (KW)

    (305) 393-1267

    13 in this area

    22 Total Sales

    Jackson Kaufelt
    Section Image
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Map

Source: Key West Association of REALTORS®

MLS Number: 610908

Key West Association of REALTORS®

APN: 00027740-000000

Florida Monroe County Key West 33040 Old Town

508 Virginia St, Key West, FL

Not Listed for Sale

Detached

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