417 Bahama Street.
The listing Realtor describes 415 Bahama Street as:
"A diamond in the Rough. A historical building in the heart of Old Town with 4 Transients Units. A great income producing property. Lots of Dade County Pine, Huge and private Courtyard with room for a pool and more parking spaces if desired. The units rent nightly. Half block from Duval, a couple blocks from the Seaport, just steps from the shops, restaurants and excitement of Duval Street without the noise. Established property manager. Unit 1 is a bright, sunny, 3 bedrooms, 2 bath. Unit 2 is second floor 2 Bedrooms, 2 bath with a den and huge balcony. Unit 3 is first floor 2 bedrooms, 1 bath with one of the bedrooms being huge. Unit 4 is 2 bedrooms, 2 Bath and 2 living/ Flex rooms. Very unique set up to maximize income."
CLICK HERE to view, 415 Bahama Street has 3672 sq ft of living space under roof capable of being air conditioned. The lot is 5983 sq ft (an irregular 57.67' x 83.83'). The front of the house sits very close to the property line. I would guesstimate the rear yard to be 57.67' x 24" which may provide room for a sizable pool and deck area. There are three large trees which a new owner would need to address as part of any redevelopment of this parcel. The space is quite large and offers significant development potential rarely available in Old Town.
The house is divided with two units on the ground floor. The front unit consists of a living area with kitchen, dining area, and three bedrooms. This unit is the only one that has use of the front porch.
|Main level front living room and kitchen|
|Main level front left bedroom|
|First floor private outdoor area|
|Second floor front unit rear bedroom|
|Second floor front bedroom|
|Second floor front porch partitioned into sleeping areas|
|Imagine the louvers removed and the front balcony restored|
|Estimate 57' x 24' rear yard for redevelopment|
|Off street parking for at least three full size cars|
I offered my opinion as to what I might do to improve the property and to perhaps boost the income potential. I must state that nothing needs to be done. The property functions fine the way it is. I really mean it when I say I love the old Key West feel this property provides. I just think it could be such a better property if a few improvements were added.
If you would like to see this property in person or if you would like more information, please contact me, Gary Thomas, 305-766-2642 or send me an email at email@example.com. I am a buyers agent and a full time Realtor at Preferred Properties Key West.