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Sunday, November 1, 2009

1223 Royal Street - Key West

1223 Royal Street is a small Key West compound, an investment property, if you will. It is offered for sale at the asking price of $524,900 or $393 per sq ft. This is how the listing Realtor describes this property:
"Behind the privacy of the wood fence sits a very private very Key Westy compound. 1/1 in the front with a stone path leading to 2/1 plus loft in the rear. Lovingly cared for with etched glass, cathedral ceilings, wood floors, built in shelving and French doors opening to a yard with room for a pool.This legal duplex has two electric,garbage and sewer accounts? Central air through out."
You may not recognize the neighborhood or the area by the address. El Siboney Cuban Restaurant is located down Catherine Street two blocks to the east. And Duval Street is four blocks to the west. St. Mary's of the Sea Catholic Church is two blocks to the north. The Atlantic Ocean and South Beach are a five minute walk to the south.

CLICK HERE to read more details on this property and to view photos of the interior and grounds. The lot is 4278 sq ft (46' x 93').

If you are familiar with the street numbering system in Key West you will know that most odd numbered houses are on the east side of the street. 1223 Royal Street is located on the west side in this block. Key West planning officials do this just to keep everybody on their toes. (There are two Thompson Lanes which are located about a mile apart. Planning did that to drive taxi drivers crazy.)

There were three sales in this same block earlier this year. CLICK HERE to see what sold and the prices paid. 1223 Royal has been used as a vacation rental so I am not sure it really compares to any of the properties that recently sold. I have not been inside of this property so I can't add much to what the listing Realtor has provided. If you are looking for an investment property you may want to see 1223 Royal Street.

1 comment:

Anonymous said...

I've been inside, and I do not recommend this property unless you have large amounts of cash for a complete renovation. The floors are uneven, walls need to be
(re)moved, etc., etc...I was not impressed.


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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.