"Perfect end unit in exclusive Porter Court - a gated community of only 19 within Truman Annex in Old Town Key West. This beautifully decorated turnkey property can be rented transiently and has the best rental income in the complex. 2 bedrooms, 2 and one half baths with Plantation Shutters throughout and is ideally located with a private entrance off of Fleming Street. Large side and front decked yards and a second floor porch overlooking the pool and courtyard add to the feel of this tropical resort property. The perfect second home and investment with a great rental history. Paradise found!"
I got a chance to see this very successfully rented unit two weeks ago during Realtor caravan (lots of agents on a bus that tour new listings). We actually were lucky because the unit was occupied by vacationers that consented to let us traipse through their temporary home in Paradise. The place is really cute but the rental history is the best part. It was the top producing property in Truman Annex in 2010 and it has substantial pre-bookings for 2011 and 2012. A buyer who wants heads-in-beds to help make the mortgage payments on a second property like this can appreciate the value of having vacationers that return year after year. It is like having money in the bank.
This 1140 sq ft unit was built in 1992 but it does not look like it. The kitchen is very current as are the baths. All rooms are nicely furnished. French doors open from the living room onto one of two rear decks. I did not see any deferred maintenance. What I did see was a nice inviting back entry (right onto Fleming Street). That means you can or your guests can by pass going through the main entry and make a quick exit directly to your favorite Old Town hangout. Fleming Street as well as all other gates are locked at night but owners and guests have keyed access.This Transient Licensed unit is offered at $749,000.
Truman Annex has seven different communities that include condos, townhomes, and single family homes with different features and various price points. The location has become a perennial favorite for returning visitors. It is close to everything but it is also very quiet.
If you are looking for a place in Paradise that you can occasionally rent to help with the mortgage payment, you might want to take a look at this Porter Court unit. Please call me, Gary Thomas, 305.766.2642 to arrange a private showing. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.