I have previously written about 1012 Southard Street extolling the many reasons why I think this property is a great buy. Now there is an additional reason: the asking price has been reduced to just $699,000 and the property is now offered as a short sale. The three bedroom and three bath home has the makings of true wish fulfillment for those who are willing to do a little work in exchange for getting a lot in return.
Just below you will see photos of 1012 and 1014 Southard Street as they appeared when photographed in 1965 with new photos taken this week.
The listing broker at Preferred Properties, that is where I work but this is not my listing, describes the property this way:
"Renovation project in a most sought after location in historic old town! This charming property features a 3/2 home that could be a show place plus a move in ready 1/1 guest cottage. Both houses open to the covered lanai and spacious, sunny decked pool area. The large lot features off-street parking. This is a great opportunity!"
The main house at 1012 Southard Street was built in 1899. The home was renovated sometime after 1981 and has remained pretty much unchanged since then. The renovations of that era now seem a bit dated, but the house is perfectly livable as is. The house currently has three bedrooms, two baths, a small sleeping loft which would be great for the grand kids. The kitchen and the wonderful covered veranda overlook the large and inviting pool. The adjacent guest cottage with a mini kitchen and bath was added was built a few years ago.
The Property Appraiser's records show the house has 1676 sq ft of living space situated on a 5,000 sq ft lot (50' x `100') on one of the very best blocks in Old Town Key West. I have included photos of the cottage and the pool area. I always tell potential buyers to use their imaginations and plan to reconfigure existing spaces inside the big empty box that are the initial start of any renovation project. Existing interior walls, cabinets, and fixtures are often moved, sometimes replaced, and typically improve what was in the property for years. CLICK HERE to view the Key West mls datasheet on this property.
I held an open house at this property a couple of years ago. I remember a lady from Miami with a large family studied every aspect of the property. She then told me that if she bought the property she would paint the interiors but would then live with the house the way it is for several months. She said she could then figure out how what really needed to be renovated. I think that makes sense with a lot of houses, but it makes a huge amount of sense with this property. We have become so accustomed to granite, marble, and stainless steel that we often miss the simple elements of good design that make some spaces so very comfortable and inviting.
Every time I have shown 1012 Southard Street I have tried to get buyers to sit down and take in the pure beauty of the pool and garden area. The house next door at 1014 Southard Street was the cover feature in Architectural Digest a few years back and it shares the same excellent location. I also walk potential buyers down Southard Street to see similar one story houses like 1016 and 1020 Southard Street that have undergone some magical transformations of their own.
Now that 1012 Southard Street is priced at just $699,000, someone will snap up this short sale in a snap. The real estate maximum "location, location, location" was never more true than it is with 1012 Southard Street in Old Town Key West.
Time waits for no one. Act quick before this Key West short sale is snapped up by someone else. Please contact me, Gary Thomas, 305-766-2642 and let me you buy your place in Paradise. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.