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Tuesday, November 24, 2009

1800 Atlantic Condominiums - Key West





It's time to update the properties available for purchase at 1800 Atlantic Condominiums. I divided the units between those with valuable Transient Rental Licenses and those without. Units that have a Transient Rental License can be rented daily every day of the year to a different renter each day-just like a hotel room. Units without such a license may be rented on a monthly basis but may only be rented once each month.

There are a total of 13 units currently available for purchase at 1800 Atlantic Condominiums in Key West. The aerial photo above together with the photos of the pool and gardens ought to entice you to consider this oceanfront resort type property as a potential second home purchase. In addition to that fabulous Olympic sized pool and spa are the beach, three private tennis courts, garage parking, on sight property management, and 24 hour security. 1800 Atlantic is close to the Key West International Airport, Smathers Beach, and three shopping centers. It is quick jog down to Duval Street and all the craziness. The proximity to Duval Street (or maybe lack thereof) is one reason returning vacationers opt to stay at 1800 Atlantic year after year. It is close to everything, but it is a destination unto itself.

Smathers Beach (below photo) is located about 60 seconds west of 1800 Atlantic Condominiums. At Smathers Beach you and your friends can play volleyball, participate in all kinds of water sports, or just work on that killer tan. But remember 1800 Atlantic has its own private beach-but the action is down at Smathers Beach.

There are four other important factors to note. Each factor may influence pricing and value. (1) Location. Look at the aerial photo again. Note that the road to and from the airport (Bertha Street a/k/a South Roosevelt Blvd.) runs adjacent to Building "C". Most units that front Bertha Street are priced a little less expensively than other locations. Units that have the best views are usually priced higher. Units on the top floor have vaulted ceilings so they may seem larger. (2) Condition. Some units are "virgin" and look the same today as when they were built over 20 years ago. Others have been remodeled. Some have been tastefully redone. And some less so. Some units may be cheaper than others but may need a little tlc. (3) Transient License. The existence of a Transient License does not in itself mean you will make money right away. Some units have dormant licenses that the owners maintain to preserve the license, but the units have not been rented. Buying a unit with a successful rental history however might make more sense than buying a unit without such a history. Most transient licensed units are offered "furnished". Many are "turn key". Read the mls listing info. (4) Size. Most units are 1357 sq feet in size. Some units are larger. Make sure when you compare the units that you are comparing like kind units. Think of it this way: if you were looking at purchasing a twenty year old Mercedes would you want the cheapest car or would you consider the paint (body) job, the odometer, the engine, and the tires to help determine the better value?

CLICK HERE to look at the units with Transient Rental Licenses. There are seven such units and they are collectively priced at $455 per sq ft. Again, compare location, condition, and size. Unit A 403 is a penthouse unit located directly on the Atlantic Ocean. It is larger than the other units; it has a dead-on view of the water; it is being sold subject to probate court approval. Look carefully at the photos of Unit A 403.

CLICK HERE to look at the six units without transient licenses. You would expect the average price per sq ft to be lower (at least I would), since Transient Licensed units have traditionally been priced about $50,000 higher than units without such a license. At any rate, these units are price on average at $462 per sq ft. Check them out as well. Not everyone wants someone else's head in their bed to help make a mortgage payment.

If you are looking for a second home in Key West and think a condominium might work for you, please call me, Gary Thomas, 305-766-2642 to arrange a showing at 1800 Atlantic. Or send me an email at kw1101v@aol.com.

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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.