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Friday, March 13, 2009

921 Eaton Street - Old Town - Key West - Bank Owned Duplex

I can already hear the chorus beginning to chant "location, location, location" or something like that as a reason not to even consider this cute two story duplex that in a newly listed Bank Owned investment property. The property is located at 921 Eaton Street. Busy street during the daytime, for sure. Quiet at night, however. Asking price for this 1240 sq ft property near the corner of Eaton & Grinnell Streets is only $424,900 or $343 per sq ft. CLICK HERE to see the listing information provided in the mls. And CLICK HERE to see additional information that the previous Realtor provided and much better photos prior to bank ownership.

I took the photos above today. Look at the neighbors. The immediately next door to the west (CLICK HERE) at 917 Eaton is offered at $1,795,000.Not a typo! The yellow house next door to 921 Eaton is not listed for sale (CLICK HERE), and the income producer with 15 years income producing records located at 925 Eaton Street is listed by Preferred Properties at $450,000 (CLICK HERE) for info on that property. One of Key West's most beautiful and most photographed homes sits at the corner. CLICK HERE, CLICK HERE, and CLICK HERE to view. The Paradise Cafe is on the opposite corner at Grinnell. And one block north on Grinnell you will find Finnegan's Wake. And one block beyond that is the Historic Key West Seaport.

CLICK HERE to checkout the magnificent homes and mansions currently for sale. Maybe then you will appreciate the value of this simple little duplex in a very good location.

Randy, who used to cut my hair, lived at 921 Eaton Street for some time. He loved the house and the location. That doesn't mean you would. But the location doesn't mean that you would not. I can imagine a buyer could be someone who wants a nice clean place in a good location with some income to offset the cost of purchase. Rent the one bedroom and keep the two bedroom unit for yourself. The income will help pay part of your mortgage and keep a physical presence at the house. By the way, the property directly across the street, West Winds Guest House, was listed for sale this week at $6,440,000. And the Duplex across the street at 904 Eaton (CLICK HERE)was just listed for sale at $930,000. It has a pool and it is 700 sq. ft. larger. But it's on that same block! Across the street!

Some of the bank owned properties are selling quite quickly. Please contact me, Gary Thomas, 305.766.2642 or e-mail me at for more information. I'm not ready to say this is a bargain, but it looks pretty attractive at this time.

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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.