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Thursday, July 11, 2013

1601 White Street - Near Waters Edge - Key West

Preferred Properties Coastal Realty, Inc. just listed (that's where I work but this is not my listing) 1601 White Street which is located near waters edge in the Casa Marina Area of Key West.  This house was previously occupied by a renter who in my opinion made showings very difficult. Now the property is vacant and may be seen with relative ease.  Let me share with you why I think this is a great value for someone looking to do a little fixing-up.
1601 White Street was built new (not remodeled) in 1988.  It has many of the features that were current then including kitchen cabinets, appliances, bath fixtures, window treatments, etc.  It's funny how quickly styles change and become passe in twenty five years. But they do. What has not changed, however, is the great location.  This property is located adjacent to 1617 White Street which I have previously blogged CLICK HERE.  I have written about other nearby neighbors on nearby Casa Marina Court and Johnson Street where the property prices are much more expensive.  I mention these properties because I believe 1601 White Street as being the least expensive property in the area which ought to mean it has the potential for significant price appreciation in the future.
The 1568 sq ft two story house sits on an 8750 sq ft lot (70' wide x 125' deep) at the corner of Johnson Street at White Street - just one block from the Atlantic Ocean. A large fenced City Park is located directly across the street.  There are muted ocean views of the ocean from the second floor.  I would describe the house as being a modern re-interpretation of an eyebrow house one might see in Old Town. Or maybe it's just a late 1980's salt box. The house sits quite high on the property and is located toward the north side of the lot. There is bricked off street parking for at least two cars. The lot is extensively landscaped and provides privacy from both White Street and Johnson Street. Yet you can sit on the large front porch and watch people as they walk the dog, jog, or ride a bike. At night you can walk down to the White Street pier to watch sunset. Maybe you might stroll down to the pier to do some night time fishing - I have.  There is an almost endless parade from early morning until sunset  and later when all quiet breaks out.
The inside of the house would benefit from a remodel. I think the existing floor plan is okay at best. The house has a 'formal entry' that leads to the center of the house. The living room is on the left. It has French doors that lookout to the pool. The formal dining room is located in a boxed-in room at the front right. The kitchen is at the left rear. In my opinion the spaces are a bit too formal and too confining for a Key West lifestyle. A couple of walls need to come down and areas need to be opened so that this house becomes the beach house it ought to be. 
Upstairs there are two modest sized guest bedrooms that share a common bath which is typical of fixtures used a quarter of a century ago. The bathroom is dated and blah. The master bedroom has an odd sized sitting area with views of the park and muted views of the ocean. The en-suite bath is also in need a re-vamp. A reworking of the space layout and the introduction of 21st Century light and bath fixtures could make this master suite into something far more interesting than presently exists. 
Too many lots, especially in Old Town, have tiny back yards and tiny pools and small decks. If you appreciate big decks and big pools like I do, then you will appreciate the big deck here and the large pool with waterfall. 
This property has an adjacent unused huge rear yard located behind the pool. That space measures about 70' x 25'. I think a new owner could add a decent sized guest cottage in this location which would add significant value. The addition of a fourth bedroom and bath would give guests some isolation from the main house. When not used by guests, the space might be used as a writer's workshop or artist's studio.  Since the main house is newer construction, and is not located in HARC, I think a new owner could be quite creative in adding new living space. A 'serious' renovator might even consider blowing out the back end of the main house and redoing both first and second floors and expand the living spaces. If I were going to do a renovation to this house, that is exactly what I would do.
I think 1601 White Street has the potential of being a great vacation rental property when renovations are completed. The existing house and pool, the extra large lot with lush tropical foliage , expansive parking, and location near Higg's Beach and the Atlantic Ocean make it a sure winner. A crisp and clean update would make it more attractive. The addition of a guest cottage and some really creative changes could make the entire property sizzle. CLICK HERE to view the Key West mls datasheet on 1601 White Street. This property is offered at $835,000.
Higg's Beach playground
Higg's Beach at Sunset
I took more photos of this property which you can see if you CLICK HERE. But better than that, please call me, Gary Thomas, 305-766-2642 to schedule a private showing of this unique property. I am a buyers agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.  Someone is going to buy this property now that it actually can be seen.  Let's take a look together.  

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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.