410 Simonton Street - Old Town - Key WestToday's blog is addressed to the buyer who is looking for a project house with a lot of upside potential in Old Town Key West. I think I have just the property for you to consider and I think I found a somewhat comparable property for comparison.
I have written before about the lovely old home at 410 Simonton Street located near the corner of Simonton and Eaton Street. According to the Monroe County Property Appraiser the original house was built sometime in the 1870's but was non specific as to the exact year. The old gal looks pretty good for being at least 140 years old. A new addition was added to the side in 1997. Together the main house and separate addition have approximately 3123 sq ft under structure capable of being air conditioned. This property is listed by Preferred Properties Key West, that is where I work but this is not my listing. The listing Realtor describes this beautiful property thus:
"One of Key West's most beautiful houses. True history resounds in this one of a kind home. Paintings from the 1880's are featured in the front parlor on the ceiling and walls. Currently in use as a 5 unit rental property with rental income of $8,300/month. This house is a great candidate to remodel as a single family home."
The House Specific Gingerbread Detail
The main part of the original house has been made into decent sized one bedroom apartments, each of which has a living area, kitchen, bath and bedroom in some form The second floor is one large one bedroom apartment that could be just grand. That unit is accessed via an exterior staircase and second floor balcony that is just perfect for people watching. Inside the angular ceiling provides a wonderful living space. Another special feature is the Romeo & Juliet balcony that overlooks the bricked grounds and century old iron fence that distinguishes the house. A majestic mahogany tree frames the visage.
The main house has high ceilings, grand windows and doors, substantial crown moldings and trim throughout. The house could become a showplace. The building has been very well maintained in my opinion. The piers and structural elements seem solid and well maintained. I think most of what a new owner would do would be considered refinement rather than rebuilding. That is my opinion. I am not a contractor. Rely on what a contractor tells you.
The second floor could become the master suite. The main floor units could be restored to a semblance of the usage of decades before when this was one of the most beautiful single family homes in all Key West.
The adjacent building would make a wonderful guest cottage and provide separate facilities for guests so that friends and family would not bother the owner on those late night returns from Duval Street or other nearby haunts.
Recent Addition could become Guest Cottage
410 Simonton Street is available at $895,000. CLICK HERE to view the Key West Association of Realtors mls datasheet and to view listing photos.
If you would like to see the 410 Simonton Street property or any other property in Key West, please call me, Gary Thomas, 305-766-2642. I am a buyers agent and a full time Realtor at Preferred Properties Key West.