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Wednesday, January 14, 2009

Duval Square Townhome - Key West - Short Sale





Key West Townhome Short Sale. That's not news, you say. But take a look to see what might be a good investment opportunity.

The recently listed 1325 sq ft two story, 2 1/2 bath townhome located in the Duval Square Condominiums (1075 Duval Street in Key West, Florida) is offered as at the short sale price of $479,000 or $362 per sq ft. This is how the Listing Realtor describes this property: "Transient License - Turn-Key Income Condo on Duval St! This Mediterranean Style condo has Mexican Tile downstairs and oak floors upstairs. Downstairs features the kitchen, a half bath, laundry and a dining room with seating for six. French doors open to your own private outdoor patio. Upstairs, the master bedroom has French doors opening onto a private porch with seating. An in-suite bath with large Jacuzzi tub, vanity & skylight completes this spacious bedroom. The second bedroom features a bed, large walk-in closet and private bath. Secure covered garage with dedicated parking. Being sold fully furnished with an excellent rental history."

CLICK HERE for more detailed information on this unit and a lot more photos. The complex was built in 1987 and has undergone some cosmetic updates in the past few years. There are several restaurants and small stores on the ground level. All of the residential units are on the second and third floors. (All units are two story.) There is covered parking for each unit with controlled access. There is a lovely second floor rooftop pool that overlooks Duval Street.

This property may appeal to the second home buyer who is looking for a property that can be legally rented as a transient rental to produce income to offset the cost of ownership.

I would suggest potential buyers compare this property to others similarly priced at 1800 Atlantic and The Shipyard in Truman Annex. 1800 Atlantic has that oceanfront location and tennis courts and the units are similarly sized. The Shipyard units are about half the size of either 1800 Atlantic or Duval Square but have a popular location with tourists. This unit is definitely worth a look. It will not last long at this price.

If you are looking for a condo or townhome with a transient license that permits you to rent the unit on a daily basis every day of the year all year long, please call me, Gary Thomas, 305-766-2642 or e-mail me at kw1101v@aol.com. CLICK HERE to search the Key West mls database to find comparable units and prices to do your own comparison shopping.

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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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Gary Thomas in a Nutshell

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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.