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Sunday, November 27, 2011

Pelican Landing - Key West Condo

Pelican Landing Condominiums - Key West

I have written about Pelican Landing Condominiums before. A couple of years ago I wrote about a penthouse unit offered as a short sale, and earlier this year I penned a piece about a bank owned unit. The short sale unit is still available, but the bank owned unit was sold. 915 Eisenhower Drive Unit # 302 is not afflicted by the stigma of being bank owned nor is it a short sale. Instead, it is a very nicely furnished two bedroom, two bath unit with a boat slip and a transient license that is priced to sell at just $399,500.

Living room

Master bedroom with en-suite bath

Second bedroom with en-suite bath is also a lockout for easy rental

View from the deck of Unit 302

Pelican Landing Condo Unit #302 has 1215 sq ft of living space plus a large balcony that overlooks the pool and grounds below and the boat slips that are just a tiny part of the Garrison Bight. The transient licensed unit has the advantage of having a lockout so an owner could rent one bedroom and still use the remainder of the unit himself (or herself). That feature provides a usage not available in most Key West condos. There is an on site manager that can rent the condo, but an owner can use any property management company.

CLICK HERE to view a slide show of photos of this unit. You will see that the unit is nicely furnished. This place is clean and as well maintained as any I have seen. You could move right in and not do anything. And everything you see in the photos is included in the sales price. The building has covered parking, an elevator, pool, spa, and boat slips and piers. Boaters might find this place an affordable alternative to buying house or condo elsewhere and then buying or renting a boat slip.

Each unit has the use of a boat slip

I did a quick mls search to find a comparable value under $400,000 for units with comparable features. CLICK HERE to search the Key West Association of Realtors mls website and see for yourself how this unit compares to other properties. There are a couple of nice units with transient licenses on Coral Way on Stock Island, but they do not have boat slips. Some Seaside units with transient licenses are priced around $100,000 less, but they are located on the far east side of Key West. There are some nice units at the Key West golf club, but they do not have transient licenses. You might have to pay $449,000 to purchase the least expensive unit at 1800 Atlantic Condos that has a transient license. And the least expensive transient licensed unit at Shipyard Condominiums is $449,000, but that unit is only 680 sq ft and only has one bathroom. Compare for yourself.

This unit is not my listing, but I would be pleased to show it to you. Please call me, Gary Thomas, 305-766-2642. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.


Anonymous said...

And with a dock!!!

Anonymous said...

Transient license and water views are hard to beat. Great for a vacation rental but I wouldn't want to live here as there are LOTS of rental units here. Not a quiet, relaxing atmosphere but a great value as a second home for those trips to Key West and to rent out on the times you are not here. A great buy. Shows how much the market here has tanked and will continue to do so. Just think - in 2006 this would of have been a steal at over $1M. My oh my, how the mightly have fallen!


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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.