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Monday, December 8, 2008

Key West - Bank Owned - Sunset Marina Condo

Two Bank Owned units at the Key West Sunset Marina were listed for sale on the exact same day last week. Both are on the same floor but each is located in a different building in the same complex and one is slightly larger than the other. I'll leave to the reader to decide if you find either of the two Bank Owned properties to be a "deal". I know some reader is already to proclaim nothing is a deal in Key West. But for those willing to look and consider, your opinion may be different.

Sunset Marina is located on the western edge of Stock Island, the island just before Key West if you are traveling by car. Stock Island has trailer parks, tattoo parlors, a Burger King, a great Mexican restaurant, a community golf course, a bunch of cheap condos, the County Jail, a trash transfer station, the impressive Sunset Marina itself with slips both small and large, and four relatively new and structurally solid condominiums developed in conjunction with the marina.

The four buildings were built in 2001. The private entry is gated and beautifully landscaped. All units are accessed for an exterior open air balcony that looks towards what locals call "Mount Trashmor". That is a now defunct landfill that has been landscaped. It is there forever and if that bothers you, don't read further.

The units are all pretty much the same as far as layout and size. Units located higher in the building or further toward the west tend to be priced higher. But pricing of real estate is pretty much a locational consideration in most sales isn't it.

5603 College Road, Unit 303 C is bank owned and is offered at $479,900 or $449 per sq ft. CLICK HERE to see more photos and info on this unit. Don't let the photos dissuade you from looking. The views are incredible.

5601 College Road, Unit C 303 is also bank owned. It has 1024 sq ft and is offered at $399,000 or $390 per sq ft. CLICK HERE for more info on this unit. Sorry, the listing Realtor forgot to include photos.

CLICK HERE to take a quick look at all of the units currently available at Sunset Marina Condominiums. If you are looking for a deal, perhaps one of the two bank owned units may work for you. Another unit is offered as a short sale, so you might get lucky and get a sweet deal on that unit. But there are a couple of penthouse units that may lure you to the top floor. The views at Sunset Marina are what would-be buyers dream about. The complex has a beautiful pool, a clubhouse, covered parking for your car and golf cart. That comes in handy because the Key West golf course is located right across the street. But your house doesn't get hit by errant golf balls. If you have a boat, the marina is the perfect Key West spot to make your second home.

If you would like to see one of the bank owned units (or any other property), please call me, Gary Thomas, 305.766.2642 or e-mail me at


flipper said...

I know I am starting to sound like a habitual whiner, but I just don't understand why the listing agent wouldn't include photos or the condo fees for 5601. Is he or she so busy this was just overlooked? I don't accept the "they forgot" explanation. It is tough enough to sell property in this market anyway, without basic photos and info it is pretty much impossible. Wouldn't you say?

Anonymous said...

Sunset Marina and lovely views of Mount Trashmore and the Detention Center. Yippee! Just the place I would want to live - smack dab between the jail and the dump. What a combo!

Gary Thomas said...

Flipper, If I say anything negative about a Realtor I'll get clobbered.

There are rules about what a listing agent is supposed to do and a time frame when it must be done.

Call the mls police!

As for the negative comment about the location, you must have never seen the view from the balcony of one of these units. If you love the view of an active marina with boats going in and out to sea and people doing whatever it is that you do on boats, then the balcony views here will impress you.

You can barely see the jail. Big deal. We see powerlines right in the middle of Old Town. That does not diminish its charm.

We see homeless people, drag queens, boozers, and way too much skin at Fantasy Fest too.

If you compare the views from the units priced over a million with the unit priced at $399,000 I'll bet there isn't much difference.
But the savings is enormous.


flipper said...

Way too much skin??? Gary, I thought you were a hip, cool dude but it seems that you may be as Victorian as some of the homes you sell. LOL, a few naked bodies running around the streets for 10 days is not that bad a thing, and does wonders for the depressed economy in Key West. I understand this is a real estate blog, but sorry I couldn't resist. I bet we could have a real good discussion on the "moral decay" of Key West, another time, another place. I for one love the anything goes attitude.

Anonymous said...

It is a center unit, the smallest. And sorry, the Mount Trashmore smell and flies are a huge negative.

Gary Thomas said...

Dear Anonymous: Both units are bigger and have a much better view than many units in Old Town that are priced much higher in real dollars and on a per square foot basis.

Buyers should see and compare for themselves. I was a doubter myself until I went there when my former office got the listing for the entire development. I was impressed by the quality of the construction. This was no "schlock job". These units were solidly built.



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Key West, Florida, United States
I first read about Key West in a magazine called "After Dark" sometime in the mid 1970's. But it wasn't until March 1984 that I made my first visit to the island that would become my home. I had two weeks for a vacation and reserved a room at Colours Guesthouse (now Marrero's Guest House) for one week. I thought that if I didn't like Key West, I could always go back to Miami or Ft. Lauderdale for the rest of my trip. But after a couple of days in Key West, that was no longer a consideration. But when I wanted to extend my stay for the extra week I found there was no room at the inn. The guesthouse owner did find me a room at LaTeDa, the infamous guesthouse/restaurant. That's a story I'll write another day. But those two weeks in Key West gave me the realization that I had found Paradise. Key West has been my home since 1993 and my only regret is that it took me so long to get here. I am a full time Realtor at Preferred Properties CRI. Let me help you find your new home or business in Paradise. Living in Paradise is not a slogan, it's a way of life.