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Thursday, July 23, 2009

922 Thomas Street - Bahama Village - Key West

The Old House at 922 Thomas Street in Bahama Village needs a new owner. It needs an owner that has vision, some cash, and a good contractor. And, oh yeah, a green thumb would be really useful. CLICK HERE to see the listing info and a couple of listing photos.

922 Thomas Street is a very modest two bedroom one bath house with 821 sq ft of living space. There is some new vinyl siding on the outside and a few windows have been replaced. But not all of the windows match, and though the house is perfectly usable as is, it could be so much more. The property is priced at $350,000 or $426 per sq ft.

Before you start to chime in and saying "Gary you have lost your mind!" consider this: the lot is huge for Old Town (58' frontage X 139' depth), or 8004 sq. ft. CLICK HERE to view a not so good photo that shows the depth of the property. There are two fences. The first fence at the back of the house is covered in green vines. The actual property line extends another 50 or 60 feet beyond that fence to the barely visible fence at the the very rear. The lot is enormous and the property size is where I see potential. There is plenty of room to greatly expand the current house, add a pool, put in some off street parking, gate the driveway and put up a white picket fence in front. But it is that space to the rear that just really intrigues me. There is room for a corn crop for now and hold the ground for future development.

Also you need to consider the neighborhood. I took some photos of the adjacent properties to help you both recognize the location and to see who the actual neighbors will be. Next door to the south CLICK HERE is the Bethel AME Church on the corner of Thomas Street and Truman Avenue. There are two single family houses just west of the church CLICK HERE whose small backyards abut the rear portion of 922 Thomas. They currently have no room for a pool. But someday the owners of those houses may really wnat to have a pool. The property immediately south of 922 Thomas Street CLICK HERE is a smartly remodeled home that is owned by a judge. (Notice the bricked driveway.) There are three additional properties directly across the street that are equally smartly remodeled. CLICK HERE, CLICK HERE, and CLICK HERE to see these properties. Each of these properties are as nice as almost any property you would see in Old Town. At least half of the homes on this block have been nicely redone.

I know there are buyers out there looking for project properties. 922 Thomas Street has a lot of upside potential in my opinion. The house is tenant occupied so we need at least 24 hours notice to schedule a showing. I think this house is definitely worth a look. If you would like to see this house, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty in sunny Key West, Florida.


Anonymous said...

Hi Gary,

We live a block away from this property. We bought our house nine years ago, for a really low price, redid it, and love it and the neighborhood. We're a block and a half from Duval, three blocks from Hemingway House.

A friend of mine a couple of blocks away says Bahama Village today is "the biggest secret in Key West". This end of Thomas Street has experienced huge upgrades in the past five years, with more to come (look at the new building across from Blue Heaven, just a few blocks away from this property, for example).

Note to the reader: Gary does not even know me, I just like to read his blog--I get no commission!


Gary Thomas said...

Bill, I think the area is going to "Happen" when the city gets the new marina and park built on the waterfront. Properties like this are going to be in high demand.

Thanks for reading my blog.



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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.