1401 Simonton Street , #16

Description

Rare opportunity to own a luxury 2-bedroom, 2-bath condo-hotel residence with full transient nightly rental rights at the renowned Santa Maria Suites Resort. This turnkey property generated nearly $200,000 in actual gross rental revenue in 2025, offering strong income performance while preserving the flexibility of personal use. Located just one block from world-famous Duval Street, the resort blends a prime Old Town location with a private, resort-style atmosphere. Owners and guests enjoy walkability to dining and shopping while returning home to a quiet luxury setting. This residence is one of the few desirable single-level, pool-facing units in the complex. The layout features spacious living and dining areas, a well-equipped kitchen, and two comfortable bedroom suites.. Built in 2006 and consistently recognized as one of the island's premier resorts, the property offers amenities including off-street parking, 24-hour fitness center, and concierge services. Comprehensive interior renovations to the units, along with upgrades to the pool and gym, are planned for completion in 2027. The current owner has paid nearly the entire special assessment related to these improvements. Buyers may choose their own management company or negotiate with the existing on-site operator. All reservations within 180 days of closing must be honored. The property is being sold fully furnished and with future bookings in place, providing a seamless transition and immediate income continuity. Whether you are seeking a high-performing investment, a second home, or a hybrid ownership model, this residence delivers income potential in one of the most supply-constrained markets in the country. Own a piece of Key West that works for you — financially and personally.