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Tuesday, March 29, 2011

550 Porter Lane - Presidents Lane Townhomes - Bank Owned - Key West

This new Bank Owned listing will likely go under contract in a New York minute because of the location, price, and value that this baby offers to potential second home buyers. The listing agent's mls description tells all:
"BANK-OWNED Presidents Lane 2/2.5 Townhouse with covered parking. Steps away from Duval Street and Old Town Key West shops and restaurants. This property comes furnished"
This is how the same unit was described (and photos taken) in 2007 was listed at a much higher price by a different agent:
"As you enter this lovely town home you are greeted with the view of a comfortable and inviting vacation home. Features include a phantom screen door for the front door, colorful custom kitchen countertops, and newer appliances, tile floors on the first level, solid oak stairs and oak flooring on the second level. A new awning has been added at second floor rear balcony. This homes comes fully furnished ready to be rented if desired. A covered assigned parking with extra storage is included."
(Photos from 2007 mls listing and are not current!)
I have written about Presidents Lane Townhomes before as it has recently had several units go on the market. Even though each unit is very much alike as far as size and room configuration, each is different as to location, decoration, owner motivation to sell. That is why I think Unit 550 Porter Lane will sell so quickly-it is priced to sell now at just $470,900. There may even be a bidding competition to get this unit. The mls datasheet does not show that this unit has a transient license; however, the 2007 mls datasheet showed that it had one at that time. CLICK HERE to see the Key West mls datasheet on this property.

The amenities at Presidents Lane include nearby covered off street parking and a beautiful pool plus the beautifully maintained grounds of the Truman Annex and security. Frequent visitors know that Truman Annex enjoys a great location near Duval Street, Mallory Square, and quick access to Fort Zachary Taylor Beach and state park.

The Presidents Lane Pool - Unit 550 is located nearby

Unit 550 has a covered parking space - not all units do

Presidents Lane starts just behind the single family homes on Front Street in Truman Annex

Fort Zachary Taylor State Park and Beach - a five minute walk from home

He who waits to listen to the paint peel will not get this bargain priced bank owned unit. If you want to buy this place, you need to act sooner rather than later. Please contact me, Gary Thomas, at 305-766-2642. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

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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.