Preferred Properties (that's where I work but this is not my listing) just listed 419 Simonton Street in Old Town Key West. The listing broker describes this four unit investment property like this:
"Located in the heart of Old Town Key West, this beautiful historic building has four spacious apartments plus off street parking. The property sits on a very large lot with an amazing rear yard which has ample room for a pool and potential expansion. The downstairs rear apartment has a separate gated entry and features a large bedroom plus a den. It has glass doors that open to covered porch and a deck that overlooks the back yard. The front apartment is a 1/1 with an ideal front porch. There are two apartments upstairs, one with its own private deck. This property is great as is but could be enhanced for higher income. This is a great investor property or perfect for an owner/occupied with rental income."Tales of the City. I could envision some crazy Key West characters that would live in this old Key West house. It has been updated but much of the original funk is still in place. And that is why I found this place so utterly charming. The downstairs rear unit is perfect for an 'owner-user' who could be the Key West version of Mrs. Madrigal. The space is large and has a new kitchen and bath. The covered rear porch oversees the large rear yard and the adjacent deck with hot tub. There is an apartment in the front and two more units on the second floor. The front unit has a second floor front balcony to keep track of what is happening on Simonton Street. The rear unit has its own rear deck where the tenant can soak up the Key West sun. I swear whoever lives in this apartment will never leave. It is so cute. All in all this is a cute place that could transfer from present owner to new owner without a lot of new work being necessary. But the building and that huge rear yard could easily be a great renovation project. The asking price is $759,000.
The lot is an irregular rectangle of approximately 44' (wide) x 83' (length). There is room for a pool. This is a big property for Old Town both in size of building and lot size. The location does lend itself to several different uses. The Property Appraiser says the building is 2469 sq ft.
CLICK HERE to view more photos I took of the property. And CLICK HERE to view the Key West mls listing datasheet and to see the listing photos.
If you would like to see 419 Simonton Street, or any other property in Key West, please contact me, Gary Thomas, 305-766-2642. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.