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Wednesday, May 8, 2013

1104 - 1106 Thompson Street - Key West - Buying Opportunity

 The listing agent on 1104 - 1106 Thompson Street describes this incredible property this way:
"Fantastic Deal And A Great Location! Would Be Perfect For An Investor Or Someone Who Could See The Potential Of This Property. Home Sits On Two Lots. It Is A 3 Bedroom 2 Bathroom 1,000.00 Sqft. Brick Cottage That Needs Tlc." 

I could not agree more. There will be some nay-sayers that will counsel to never buy a house located near a school (which this is) or near a church.  They would be wrong at least in this instance. Read further to find out why I say this.

According to the Monroe County Property Appraiser the existing house is 999 sq ft in size. That figure does not include, in my opinion, the semi-enclosed Florida room that adds another 200 sq ft or more to quality living space. The house itself has three bedrooms and two baths. The house was built in 1954 (59 years ago). A lot of 59 year olds get face lifts. It's time this house got one. A new owner would likely gut the interior and redo the kitchen and baths. If I bought the house I would add wind impact resistant windows and doors to reduce long term wind storm insurance premiums.

The lot is extra large - 94' x 101' or 9397 sq ft.  The lot is located at the corner of Catherine and Thompson Street.The house is located about 20 feet from Thompson and about the same from Catherine. The yard on both sides is densely landscaped with tropical foliage.   
west side yard
gate to west side yard
west side yard from rear of house looking toward Catherine St.
east or front yard includes a ramp to deck off master bedroom
north side or back yard
The lot is obviously in need of some major clearing and pruning.  That's easy. I suggest that a buyer consider the added added value of the mature palms located on this property. I might even add new trees to the back and west sides to add more privacy where I would probably install a pool. The two storey building on the north side is administrative offices for the school.

1104 - 1106 Thompson Street is offered at $449,900. CLICK HERE to view the Key West Association of Realtors mls datasheet and listing photos.  Please contact me, Gary Thomas, 305-766-2642 to schedule a showing or for more information on this unique buying opportunity in Key West. I am a buyers agent and a full time Realtor at Preferred Properties Key West. I think this could make a wonderful Key West tropical haven for the person who wants a tropical forest and no neighbors.



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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.