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Tuesday, October 16, 2012

1018 James Street - Key West Renovation Property

I wrote about 1018 James Street (pictured immediately below) in January 2011. It did not sell then, but I'm pretty confident the soon to be completed renovation of the house next door at 1016 James Street will help persuade wannabe fixer-uppers that 1018 James Street is a project worthy of serious consideration.  The Monroe County Property Appraiser says that 1018 James Street was built in 1900.
1018 James Street - 1965
I dug into the old shoebox and found the photo below which says it was taken by the WPA in the 1930s. It shows homes in the 1000 block of James Street (dirt road is a better description).

Look at how sharp and clean the house next door at 1016 James Street now looks. Compare today's visage with how run down and forlorn the house looked in August 2010 when the renovations began at that location.

October 2012

August 2010

Now let's look at the front and rear of 1018 James Street.  Let your mind's eye envision how you could transform this similarly sad street scene into something especially satisfying.


 
 Look at the back of the house and the large back yard. Imagine how you could reconfigure the house, maybe enlarge it and add a rear deck, a pool, perhaps convert the ugly little building to the side into a pool cabana. The lot is 41' x 80'.

1018 James Street offers a bonus to potential buyers that out of towners may not appreciate until you start getting estimates from builders. That bonus is that the rear of the property is located on Thompson Lane. This is make demolition of existing building parts and removal of debris very easy. Likewise, having the extra space available during construction should reduce your construction costs and save money on not having to carry materials back and forth on the side lot or through the house. (Labor makes up a big portion of any project. Keep labor costs down by buying smart renovation projects.)

Rear building might become a pool cabana
 I took some additional photos which you can view if you CLICK HERE. And please CLICK HERE to view the Key West Association of Realtors mls datasheet and listing photos of this property.  1018 James Street is a 1510 sq ft house that sits on a 3304 sq ft lot (or 41' x 80').  It is offered for sale at $425,000.  (The house next door at 1016 James Street was originally a 984 sq ft house that sits on a 40' x 80' lot.)

The Key West Historic Architectural Review Commission will have some impact on what you can do to the outside of the property, but you as a new homeowner can decide how you want to re-create the inside of the house.  You and your architect and builder will tear down existing walls and eliminate decades of old school design. You can create you perfect Key West getaway place.

1018 James Street is located about two blocks south of the Historic Key West Seaport and the shops and restaurants in that area. The shops, galleries, and nightlife on Duval Street is an easy walk from here, just six blocks or about ten minutes.

If you would like to see 1018 James Street or any other home in Key West please contact me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com. I am a buyers agent and  a full time Realtor at Preferred Properties Coastal Realty, Inc. 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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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.