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Tuesday, November 23, 2010

1116 Stump Lane "Little Paradise" - Old Town - Key West

Little Paradise in Key West is now offered for sale. Just listed by Preferred Properties (that's where I work) is 1116 Stump Lane in Old Town Key West. Stump Lane is a one-way lane that is entered from White Street and exits onto Frances. It is situated between Fleming Street to the north and Southard Street to the south. CLICK HERE to see an aerial Google Map photo of the area. In his book The Streets of Key West: a History Through Street Names, J. Willis Burke says "Running parallel to Curry is Stump Lane, once called Garrison due to its location near the Army barracks. Stump Lane is named for the Charles Stump family." (Go back and look at the Google map. That big area east of White is the former Army base.)

The listing Realtor describes 1116 Stump Lane this way:
" Artist cottage on quiet lane in the heart of Old Town Key West. Well maintained home with large outdoor area with hot tub. Transient license to convey for the buyer looking for an investment. Hurry! Won't last long!"
Did you notice the words "Transient license"? Our office also manages this property and you may find the description there more helpful:
"The perfect place to relax in your own little paradise, located on a quiet historic Old Town lane. This unique Conch Cottage is pet friendly and features front and side covered porches, vaulted ceilings, an open floor plan, and also offers a fully equipped kitchen with easy access to the outside deck. You can access the spacious and shady deck which provides lots of privacy where you can grill, dine outside, and soak in the hot tub. The master bedroom has a queen bed, and the second bedroom offers 2 twin beds and opens to the cozy living room. Tucked away from the living area, is a spacious and bright bathroom with a tub/shower which also houses the washer/dryer. Sliding glass doors open from the living room to another small side deck where you can relax and read a book, or have your morning coffee. "
The cottage is just 858 sq ft and it sits on a 50' x 40' (2000 sq ft) lot. There are two bedrooms and one bath. The asking price is $615,000. CLICK HERE to checkout the mls datasheet and to view listing photos. (By the way the listing sheet is in error as to date of construction. The Monroe County Tax Appraiser says this house was built in 1906. I even have an old time photo taken in 1965 CLICK HERE.

A Transient license permits an owner to rent a home every day of the year to somebody different. We have lots of "different" people here. Boy, do we. Places like this typically are rented either weekly or monthly and sometimes for the season. It is the ability to rent a home to different tenants more than one time per month that separates a place with a Transient license apart from a place where an owner is limited to just one rental per month. The difference can mean a substantial increase in income over the course of a year.

I sold a neighboring cottage on Stump Lane last year. The new owners love it. The location is so Key Westy. Here are a couple of photos of neighboring homes.

If you are looking for your place in Paradise, please call me, Gary Thomas, 305.766.2642, to see Little Paradise. I am a full time Realtor at Preferred Properties Coastal Realty,Inc. in Key West, Florida. Our office is the Exclusive Lower Florida Keys affiliate of Christie's Great Estates.


Anonymous said...

Adorable cottage. Quite lane far enough away from the noise but close enough to bike to Duval Street and the Bight. Transient License. Priced right. This is a great one Gary. Plus, if your office manages the property, there is a history of rental income and frequent guests to boot. This one will not last I predict and just in time for those seasonal buyers from up North ready to purchase. A winner overall.

Paul Hirn said...

I hope that whoever buys this cottage continues to rent it out. I stayed here a few years ago and want to again in 2014. It is quiet, cozy, clean, convenient reasonably priced and above all, PET FRIENDLY! I sincerely recom mend this ottage for either purchase (hope you rent) and rental. Paul Hirn, Pa.


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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.