Just listed, but not by me, 627 Southard Street in Old Town Key West. This property is priced at just $399,000 and it will spark a bidding war because it has so much potential and because of its prime location. The listing Realtor describes the property as:
"Historic Property In Old Town. Prime Location In Need Of Complete Renovation. All Cash Offers Only. Proof Of Funds Required With All Offers."
The original house was built in 1899. I dug into the old shoebox and found the photo below that shows the house as it appeared in 1965. Compare that to the way it looks today. The trim (and that ugly carport are still in place. The trim is great. The carport is not.
The Monroe County Property Appraiser shows this house as having 2010 sq ft of living space divided between two floors. The front has first and second floor front porches for watching the continual people parade as locals and tourists go to and from the various haunts in Key West. There is a main level wrap-around rear deck that has ample room for expansion. The rear yard has plenty of room for a pool. I guesstimate the space between the house and the rear property line to be about 30 feet. The lot is good sized for Old Town: 40'x90' or 3497 sq ft. An ugly car port is currently attached to the house. That should go but the off street parking should definitely stay. (See how nice the next door neighbor's driveway is in a photo below.)
I was in this house several months ago when it became Bank Owned. I took a lot of pics at that time when a prior resident's property remained in the house. Those items are now gone but the pics will give you some idea of the spaces available. CLICK HERE to view the photos. All of the mess in the photos is now gone. And CLICK HERE to view the Key West mls datasheet.
The downstairs area has been pretty much stripped to bare walls. Most of the interior is gone. You won't find much "Dade County Pine" here. And if memory serves me right, you won't find interior wiring or plumbing on this floor. That means a new owner can create new living spaces and put electric, plumbing, HVAC where that owner wants. The demolition work on this floor is over. It is pretty much ready for design and execution. The rear end on this level currently has sets of double hung windows that look out to the rear where a new pool would be located. I would put French doors here that would open out to a new expanded deck and pool. I would enlarge the current covered deck area on the east side to expand the outdoor living area.
The second floor appears to have been renovated in the past decade. There are new bath fixtures, new drywall, and new central air. It might make good sense to demolish all that was done and rebuild anew. This place has been abused. If you look at the photos, you will understand exactly what I mean.
Upon seeing the house earlier today I would suggest a new buyer remove the existing hardwood floors on both levels to get rid of any lingering pet odors.
This property is Bank Owned and Offered at $399,000. It will sell for more than that. Please contact me, Gary Thomas, 305-766-2642 or send me an email at email@example.com. I am a buyers agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.