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Thursday, August 9, 2012

Bank Owned - 1221 20th St - Key West


Attention Key West bargain hunters, this is your second chance at this Bank Owned house that just went back on the market on August 8th. It went under contract right after it was listed a couple of weeks ago. For whatever reason, the house is now available a second time. I took a quick peek this morning, snapped some pics, and I am here to report that I think this is a good deal. (Not that my opinion means that much.)


1221 20th Street is located on the east end of the island of Key West. It sits on a large lot (6,900 sq ft  (69' x 100') at the corner of Donald Avenue and 20th Street. This is a family area of Key West where most of the homes, like this one, are ranch style homes. This home was built in 1965. The Monroe County Property Appraiser shows this house as having 1,646 sq ft of living space under air. I suspect the living space is actually larger than that as a former carport appears to have been enclosed to create a mother in law apartment and a back porch may have also been enclosed to create the more recent laundry room.

The main house appears to have been recently painted and updated with new carpet in the master bedroom and a second bedroom. The main living area and kitchen have Salitllo tile floors.  The kitchen appears to have been remodeled and updated in the past few years. A nice pantry sits just off the kitchen. The house appeared to me to be in move in condition.

Mother in Law unit
The mother in law apartment has a living area, mini kitchen, bath, and bedroom. That would be a great place for a teenager who wants his or her own space and would add a fourth bedroom and an additional bath to the property as a whole. CLICK HERE to view the Key West Association of Realtors mls datasheet on this Bank Owned house that is offered at $389,900. If I am correct about the mother in law and laundry area not being included in the Appraiser's database, the square footage would probably increase by about 400 sq ft.

I think the really attractive feature of this home is the large backyard and pool area. There is a lot of space, a nice pool in place, and lots of room to create a really wonderful outdoor living area.  A lot has already been done, but it is not perfect-yet.  But it could be. See the photos below and imagine how you could embellish this property and make it your own.


The rear and south side of the property have a lot of potential for a new home owner with a green thumb. The area is ready for some TLC, some creativity, add a few extra bucks to complete the landscaping of this really pretty pool and garden area.  CLICK HERE to view photos I took today of the house and garden area.

If you would like to see this home or any other property for sale it the Key West area please contact me, Gary Thomas, 305-766-2642. I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise.


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The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.

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Gary Thomas in a Nutshell

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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.