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Tuesday, December 1, 2009

1030 Fleming Street - Bank Owned - Key West






This may be the house you have been waiting for. Just listed, but not by me, 1030 Fleming Street t was built circa 1906. It looks a bit rough on the outside. I had a chance to see the inside a couple of years ago and was surprised at how good the inside appeared at that time. The above photos were taken at that time. It seemed to me that a prior owner may have done some extensive renovations without benefit of a building permit.

This property is now Bank Owned. It is offered at the reduced asking price of $589,900 or $234 per sq ft. The Monroe County Appraiser shows this house as having 2517 sq ft of living space that sits on a lot with 56.5' frontage on Fleming Street that is 75' deep (on Frances Street).

The listing Realtor describes 1030 Fleming Street this way:
"Diamond in the Rough......ready for your personal touch. Historic home that has endless possibilities. Inground private pool, some renovations completed on the second floor. Nice corner lot with wraparound porch 1st and 2nd floors. Easy to show-all offers must be accompanied with proof of funds if cash or pre-qualification letter for financing."

To see the MLS listing information and view a few photos of the inside CLICK HERE.
1030 Fleming Street is located at the corners of Fleming and Frances Streets. One of the most beautiful major houses in Key West sits directly across at 1029 Fleming Street CLICK HERE. (That beauty wasn't always as pretty, however. It has been lovingly restored and sits as a n inspiration as to what 1030 Fleming Street might become.) Both Fleming and Frances Streets have any number of beautiful older homes. Some of the nearby homes are large and some are small. But the area is vibrant and highly desirable. This is one of the best fixer houses in a great location currently available. I think this house will sell quickly.

If you are looking for a bank owned fixer upper, this may be the one you have been looking for. Please call me, Gary Thomas, 305-766-2642 to see the inside. I am a full time Realtor at Preferred Properties Coastal Realty Inc. in Key West, Florida.

2 comments:

Anonymous said...

Gary- Pretty place. If you got it for 500k and dumped 200k in, do you think you'd end up with a pretty cool place - or is the number more like 350k.

Gary Thomas said...

It is going to take quite a bit to fix this house I am afraid. I showed it and there are some serious structural problems. It looks like someone (cough! cough!) undertook major renovations without knowing what they were doing. The rear addition has major structural failure that has caused the second floor addition to drop.

There are relatively recent improvements (including electrical and plumbing). But no permits were taken out. I think any new buyer would rip out everything to make sure that the electric and plumbing are correct. I think the rear addition will have to be torn down or something damned close to it.

Oh, yeah. I got flea bites all over my legs. And there is some animal living in the air conditioning duct work in the attic.

With that all being said, this is still a really interesting property. Somebody is going to end up with a great project house.

Gary

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