The Island City House is an assemblage of old Key West buildings that were joined to create a hotel that later became a prospective condominium complex. I dug out the old shoe box and found some old photos which show 411 William Street, 808 Eaton Street, and the more recently built three story building recessed deep into the lot. The grounds are densely with tropical foliage and winding paths which lead to the pool, main office, and on-site laundry.
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411 William Street as it appeared in 1913 |
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411 William Street as it appeared in 1941 |
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During renovation in 1970s |
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808 Eaton Street photographed by the WPA in the 1930s |
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808 Eaton Street as it appeared in 1965 |
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808 Eaton Street as it appeared in 1970 during renovation |
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808 Eaton Street August 2012 |
808 Eaton Street January 2019
The properties were built around 1889 and were converted into condominiums in 2005. Only four the units actually sold. The developer retained the other units and continues to manage the entire complex as the Island City Hotel. Preferred Properties just listed Unit #16 which is managed this way. Income records are available by prospective buyers. Owners must use the property management team to manage the property and may use the unit no longer than 90 days per year.
Unit #16 is located at first floor rear of the 411 William Street building. It is accessed from walkway adjacent to the building on William Street or alternatively through the walkway from the arched building on 808 Eaton Street. Both paths are short but long enough to pass exotic tropical foliage which will make guests feel they are in Eden. Unit #16 has a private covered porch. The newer building and sunny pool are located opposite.
The one bedroom unit has 332 sq ft of living space divided between the bedroom, bath, and living area. Dade County Pine walls quickly remind guests they are staying in an historic structure and not some motel on Roosevelt Boulevard. This is stuff Key West memories are made of. This unit has the essentials for a comfy visit, but I suspect the pool, grounds, and overall ambience of the Island City House are what guests will remember forever. It is that kind of place. But since it has a valuable Key West transient license, the owner can rent this condo and make money on it all year long. This unit is rented like a hotel room. There is no restriction as to the number of days, weeks, or months that the unit may be rented. The only limitation is use by the owner.
The listing Realtor describe Unit 16 this way:
"Unique Opportunity to own a condo/hotel in the heart of Key West.surrounded by the most outstanding maintained lush gardens. This one bedroom deluxe suite has kitchen facilities and a private large covered patio on the main floor, just steps away from the pool and spa. As an investment based on the information that has been submitted, the net income has been exceptional."
Frequent readers know the value of location. This place has one of the premiere locations in all of Old Town. This block of William Street boasts some of the finest older homes in Key West including the B.P. Roberts House across the street. He's the one with headstone in our cemetery that reads "I TOLD YOU I WAS SICK". The Historic Key West Seaport is a short two block walk to the north. Duval Street is three blocks to the west. And there are numerous great restaurants and specialty food shops like the Eaton Street Seafood Market across the street and the Old Town Bakery two blocks to the east.
CLICK HERE to view the Key West MLS datasheet on 416 William Street #16 with its valuable Transient License offered at $499,000. If you would like to see this property or any other property in Key West, please call me, Gary Thomas, 305-766-2642. I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise.
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