The house was built in the 1890s and is currently configured as a legal duplex. However, by opening a door in the front hallway the two residences can easily become one again. I found an old black and white photo of the house as it sat when photographed in 1965. I took a similar photograph that shows how the house looks today. The architectural detail has been preserved if not improved by fresh paint and shutters.
The house sits about 100 feet south of Fleming Street on a 50' x 28' lot and across the Monroe County Public Library. There is a good sized rear deck located off the first floor bedroom. There is space there for a hot tub or spa. Both the main level and second floor apartments have wonderful covered front porches for people watching. The large blue house next door to the south is nearly finished after three years of construction. A narrow driveway next to 506 Elizabeth Street leads to a parking lot for the owners of condominiums located on Fleming Street.
"2 Story Home Located In The Historic District Of Old Town; 2 Blocks From Duval and; All The Shops & Restaurants The City Has To Offer! Each Floor Has A Full Bath W/Laundry Facilities, A Kitchen, Bedroom and; Living Room. At This Moment A Legal Duplex Witch Could Be Restored Into A Single Family Residence. Covered Porches Add To The Wonderful Outdoor Living Space."
|Second Floor Apartment|
The main level kitchen now has 21st Century cabinets, stainless steel appliances, granite counter tops, and designer flair. The second floor kitchen is more 'old school' and utilitarian. The second floor kitchen is marked by a shiny tin ceiling.
The listing agent suggests that this property could be easily converted to single family. I agree. The photo below shows an interior door from the lower unit which opens into the stairway to the second floor. Remove the doors and the second floor and first become one home. I would remover the kitchen on the second floor and convert that space into a third bedroom with access of the adjacent room. The front room would have use of the existing bath. It would be that simple; that cheap; and very effective. CLICK HERE to view more photos I took.
CLICK HERE to view the Key West mls datasheet and listing photos. 506 Elizabeth Street is offered at $699,000. I realize there are properties that have pools and off street parking and many other features on many buyers' wish lists. I will bet you that they do not as good a location as this or that they will cost a lot more than this, or if they cost less that they will require extensive (and expensive) renovation which means in the long run they will cost more.
Please call me, Gary Thomas, 305-766-2642 to schedule a private showing of 506 Elizabeth Street which I consider to be a buying opportunity. I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise.