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Saturday, January 3, 2009

912 Fleming Street - Old Town - Key West





912 Fleming Street is a really big house with a beautiful pool on a big lot on a great street with really expensive neighbors. And it is priced to sell.

Here's the skinny. The previous owner was a designer who renovated numerous properties in Key West for himself and clients for several years. He purchased and renovated 912 Fleming in the late 1990s. Later he purchased the house next door at 916 Fleming and was renovating it when he passed away in early 2006. His estate sold the project house at 916 Fleming for $1.5 million (the house was gutted and was basically a very expensive "shell" situated in a first class location).

The house at 912 Fleming is fairly large for Old Town. It has 4 licenses. The owner rented two apartments located at the front of the home and he lived in the rear--most of which was newly constructed by him during his renovation in 1997-98.

The home is perfectly livable "as is", but a new purchaser may want to eliminate the rentals and expand the living space to include the entire house. And here is why: the neighborhood.

The purchaser of the 916 Fleming Street property completed a masterful renovation of that property. 916 Fleming that is now offered for sale at $2,900,000. CLICK HERE to see the listing information and photos on 916 Fleming. It is stunning!)

The house next door at 908 Fleming sold in May 2006 for $3,600,000 ($1,158 per square foot) and is undergoing a massive remodel. That house is huge and has a huge lot. And the new house at 906 Fleming sold in May 2008 for $1,500,000 or $781 per sq ft. (It was not as large a house or as significant a structure.) The house across the street at 911 Fleming sold after 120 days on the market for $4,340,000 or $1401 per sq ft. That house also is huge and has a huge lot. See the trend: big houses and big bucks being spent.

912 Fleming Street is a stately, early 1900's home in the Key West Historic District, which is said to have the greatest and most important concentration of wooden structures in Florida. This is a stunning and unusual property - a wonderful two story owner's home with three bedrooms and 2.5 baths, and a wide veranda overlooking the delicious garden, spa and incredible pool. The front of this large house consists of 2 nice apartments - a 2 bedroom up and a 1 bedroom plus a small office down - either could easily be incorporated into the owner's home. Covered off-street parking. The listing agent says this house has 3228 Sq ft of living space and sits on a very large 5650 sq ft lot (50' wide X 113' deep). The asking price is now $1,499,000 or $664 per sq ft. CLICK HERE for more detailed information and photos of 912 Fleming Street.

I guess you can tell I really like 912 Fleming Street. I think it is a great buy even in today's down market because the house has so many positive features going for it. And the house next door at 916 Fleming Street is just extraordinary. If you would like to see either of the two houses mentioned, please call me, Gary Thomas. You can reach me at 305-766-2642 or by e-mail at kw1101v@aol.com. Let me help you find our new home in Paradise.

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The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.

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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.