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Tuesday, October 12, 2010

704 William Street - Key West - Hidden Treasure

704 William Street - Hidden Treasure in Old Town Key West

The delightful house at 704 William Street in Old Town Key West is close to everything important but many people can't seem to find it. If you are familiar with William Street, you know it is one of the best blocks in Old Town. It starts at the Historic Key West Seaport and ends up in the Casa Marina area just a short distance from the Atlantic Ocean. It makes a dog leg jog to the west where it intersects with Windsor Lane. And that's why the 700 block of William Street is so hard to find. Windsor Lane is a one-way street heading the wrong direction. Honest folks see the One Way - Do Not Enter sign and obey it. They can't figure out how to get to the 700 block of William Street. I simply turn right and go against traffic for the 15 feet or so and then turn left. However, if you are afraid of going to jail for such an infraction, you could take Windsor to Passover Lane and turn right at Bill Butler Park. Or you could drive back over to Truman and turn right at Elizabeth, go north and go to Olivia then travel a block and turn left on William Street. There is no sign and the street is only about 10 feet wide at that point. You would turn left and wind your way around the park and finally find end up at 704 William. Simple, isn't it. Trust me when I tell you that if you buy this house, you won't have lots of Conch Trains and Trolley cars going past your house. Nor will you have hordes of tourists in electric cars or motor scooters driving past your house with horns a honking. CLICK MAP to see 704 William Street. (Even Google makes mistakes. The street view shows 704 William from a distance of perhaps 30 feet away.)

The listing Realtor describes 704 William Street this way:
" Beautifully renovated throughout with 2 story addition in a sweet and quiet old town location. Totaling 3bd/ 4ba all ensuite, you will marvel over the private layout this split floor plan boasts with seperate staircases to 2 second story bedrooms. Gorgeous kitchen with top the line cabinetry, high end appliance package and stone countertops. Bright, airy and open with vaulted ceilings in great room and double French doors to heated pool with dramatic water feature."
Bright, airy and open with vaulted ceilings in great room

Heated pool with dramatic water feature
This house functions very nicely as a get-away vacation home.The master bedroom is on the second floor. It has vaulted ceilings and lots of space that make for very comfortable living. The ensuite bath is bright and airy. A second bedroom on the first floor has its own enuite bath and there is a door to the front porch where you can watch nobody go by. (Remember, you can't find this house.)

Master bedroom

Master bedroom with en-suite bath with lots of mood lights

A third bedroom is located on the second floor of the adjacent wing. That bedroom could rival the master bedroom in many Old Town homes. That bedroom also has an ensuite bath.

The listing agent says the house has 3 bedrooms but there is actually a fourth room that can be used as a den/office/study/optional guest room because it has an adjacent bath. This room does not have a door for privacy but it does have a set of French doors that open out onto the beautiful pool for a quick midnight dip. CLICK HERE to checkout the mls listing data sheet and to view listing photos.

When you open the front door your eyes are immediately drawn to the dramatically vaulted ceilings of the great room and kitchen. The space is so open and inviting. The kitchen is so "user friendly". A set of double French doors beckons you to look out to the pool, and a beautifully crafted stairway on the opposite side of the kitchen suggests something important must be located at the top of the stairs. (Remember the master bedroom?) The pool has a waterfall feature and the rear yard does get quite a bit of sun. I have no doubt a serious sun worshipper will have all the space he or she needs to be a golden god or goddess all year long.

This home has 1654 sq ft of space that has been thoughtfully divided between the two connected buildings. The house is now priced at $999,000 or $604 per sq ft. This is a lot of house for this price. And even though I tried to be a little funny about the location, this really is a great location. Duval Street and the Historic Seaport are just minutes away by foot or bike. Charlie's Grocery is the only neighborhood store for blocks and it is just around the corner. Bill Butler Park is located at the end of the street where William curves and becomes Poorhouse Lane.

This house does not have off street parking but there may be space to create an off street spot if a non-protected palm tree were removed. I know from experience that buyers who pay a million bucks for a house expect an off street parking spot. I think it is achievable but I do not think it is necessary.

If you are looking for a large home in Old Town that has been thoughtfully renovated, you might want to take a look at 704 William Street. I am a buyers agent and I would love to show you this home. Please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. And I know how to find this house.


Anonymous said...

I LOVE this quiet block of William Street and this is so charming! Thanks for sharing Gary - this is a winner.

Anonymous said...

One other thing - I really don't see that off street parking is necessary on this part of William Street. Without all the thru traffic and great neighbors I don't see it as a problem nor would it deter anyone from this lovely home. Not on this block.

Anonymous said...

We've considered this house, but thought it was previously overpriced and we were turned off by how over-crowded the street seems with parked cars. No denying it's beautiful looking, though. Still, $604 per s/f is a lot right now. A bigger house with more land and off-street parking just sold on Von Phister for only $510 s/f, which is a pretty high p/sf right now. Still, I bet it'll go for close to the new asking price.

Gary Thomas said...

Our office sold eh Von Phister house. It is acutally just a couple of doors east of where I live. I obviously like the area and I really like that house. But that house and William are no way near alike to compare. The buyer on Von Phister got one of the best deals in town. Not one thing wrong with that house imo. It is big and has big rooms and a big pool and lots of outdoor gardens and space.

The bedroom sq ft are similar but the ceilings in Von Phister are much higher. The great room and kitchen at Von Phister are much larger. William is smaller but that is not meant in a negative way. It is simply stating a fact.

Von Phister sold for $1.2 million. William Street will probably sell for less than the asking price of $999,000. Of course you get more by paying more and you almost always get a lower price per sq ft by buying a large house as opposed to a small house. (Von Phister is 500 sf +/- bigger than William.

I do not think parking is an issue on William.


Anonymous said...

It is comparing apples to oranges when you are comparing Von Phister aka Casa Marina to William aka Old Town. The deal was sweet and that is why the market is so ever changing in Key West. If you snooze, you lose.

As for parking, that part of William Street gets no traffic except for those who live there. No one is using this as a cut through or bypass. You can park on the street if you don't have some sort of monster SUV. Then again, why would you need such in Key West? Ridiculous!

My two cents....still a nice property.....will sell for less but I doubt it will sell for much less as I see prices are creeping up due to the demand for our island paradise.

Gary Thomas said...

Why it will sell for less: some people don't feel good unless they think they got the better end of the deal.

I sometimes go to yard sales. I usually do not dicker if the price is fair. Most yard sale stuff is fair and I sometimes get something really nice. Why screw around and dicker over a few cents or a few dollars if you like something? Some sellers look at me like there is something wrong with me. It's as if they were looking for a fight and I chickened out.

I have been fortunate enough to represent buyers who got some great houses by making smart offers and not by trying to screw the seller.

I have also lost deals because I have had buyers who insist on offering less than the asking price even though I tell them the asking price is a giveaway. I had one seller refuse to sell the house and then he took it off the market. That showed my buyer. And the seller didn't sell. Now wasn't that productive.

I prefer finding a commonality of interests when I write a contract. It is easier to get to "win" if both sides respect each other and if they "get" what they want in the end.



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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.