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Thursday, May 10, 2012

524 Margaret Street #3 - Old Town Key West

 The Pool at 524 Margaret Street - Key West

Just listed, but not by me, 524 Margaret Street #3 in Old Town Key West.

I dug into the old shoe box and found a black and white photo (below) that was taken back in 1965.  Compare the old pic with the color photo just below it. You will notice the windows are different, shutters have been added, the chain link fence has been replaced by a white picket fence, and an exterior stairway added to the left side.  These readily observable changes don't tell the whole story, however. As prices on real estate escalated in the early 2000s a lot of large single family homes and some places that had earlier been converted into apartments were then made into condominiums. Such was the case for 524 Margaret Street when it was sold by author Nancy Friday in April 2002 to two Key West Realtors who then converted the four apartments into condominiums.  Their design captured the attention of the real estate market and the units quickly sold.

 Unit #3 is located in the rear and has two bedrooms, a good sized living room, a recently updated kitchen with vaulted ceiling, the ever popular Dade County Pine walls, and French doors that open out to the private deck that overlooks the shared pool. The unit has 652 sq ft of living space and is offered at just $250,000. CLICK HERE to view the Key West Association of Realtors mls datasheet.

 Private Deck circles the property to the south and east

 Recently remodeled kitchen with vaulted ceiling

 Living room

Second bedroom or office - opens out to deck

Pool is really, really nice. A great feature of this small 4 unit condo.

CLICK HERE to view more photos I took.  If you would like to see this unit, please call me, Gary Thomas, 305-766-2642.  I am a buyers agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. 


FloridaAG said...

I looked at a unit there a number of years ago. Not sure if it was the same one currently under sale or not. I was very puy off at the time that the president of the ass'n had coopted the off-street parking for himself (or herself) - and that even though it was not deeded or tied to any specific unit that the parking was not shared somehow.

Gary Thomas said...

The total ownership of this building is changing. Maybe time for some re-evaluation. I heard a story about how the parking was handled. Better to let owners deal with it between themselves. I believe unit #3 is the largest in the complex. I do not know if it has any larger percentage voting rights than other units. I am pretty certain the parking space is not deeded.


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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.