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Friday, December 27, 2013

202 Southard St #6 - Transient Licensed Shipyard Condo - Key West

202 Southard Street #6 is a transient licensed Shipyard Condominiums at Truman Annex addition to Key West. Truman Annex is located just two blocks from historic Duval Street and all of the attractions that make Key West a world class destination.  The listing Realtor describes the listing this way:
"Fabulous opportunity to own a 2 bedroom, 1 bath condo in Truman Annex. First floor unit with large rear deck. Just steps away from the pool. Perfect home away from home. Condo comes with a transient license allowing for 26 weekly rentals. Just steps from Duval and an easy stroll to the beach. Excellent income producer."
                   202 Southard Street #6 pictured above. Lower photo is view from the front.

This unit is similar in layout to most other two bedroom/one bath units.  The kitchen and dining/living area is one the left side, and the two bedrooms with a shared bath are on the opposite side. French doors at the rear open out to the rear deck and ground level garden area.  A small walking lane is located behind the units. The lane leads to the off street parking spot and the community pool.
Returning visitors to Key West love the location, comfort, and security that Truman Annex provides. Guest who stay in this unit will especially love this location because it's hard to get lost when the place you are staying is located near the guard booth at the entrance to the complex. People do get lost, especially people who have had the extra cocktail.  The location is within walking distance to Ft Zach Taylor State Park and Beach.  The pool is only a minute or so walk, but I'll bet you more guests will head off to the beach to enjoy the sun and ocean.  At night the Green Parrot and other nearby establishments provide music, food, and cocktails.  During season the Waterfront Playhouse at Mallory Square and the Red Barn Theater offer live performances that feature many local talents. Day or night, there's always something to do and whatever it is, it is within easy walking distance of Truman Annex.

CLICK HERE to view the Key West mls datasheet and listing photos.  Better than that, please call me, Gary Thomas, 305-766-2642 to set up a showing of this unit.  I am a buyers agent and a full time Realtor at Preferred Properties Key West


Anonymous said...


The Shipyards will be a great litmus test for what appears to be the beginning of a wild and wacky high season.

Shipyards and the Annex in general, consistently moved quickly with higher demand than most other Old Town "comps" (very loosely using "comps") before, during and post recession. Further, the listing and sale prices have followed the YoY trends in the monthly sales statistics.

I say wild and wacky, as it appears two of your "peers" (with other brokers/agencies) are attempting to drive the market with unadulterated greed. Upwards of 40%, 50% and in one case 120% price increases / returns over previous sales in LESS THAN A YEAR!!! TRUE comps - identical units in same building/complex or even a re-sale of the SAME unit - nutty at the least! I won't name names or properties, but it will be interesting to see if those listings are still around in May. One is already pending. Like Warren Buffet teaches - buy high, sell low.... Wait... That's not... Oh, well.

I usually follow a dozen or so listings that interest me (and have for 3 plus years now). Eventually I will jump on one. Looking back, there's one or two that "got away" for my criteria. Some current listings appear to be a good value, yet linger on the market much longer than I would have expected. The Windward Park listings, 1020 Ginnell, 1008 Packer and your new listing at KWGC are ones I expected to FLY off the shelf but still show available - some for awhile now.

Others priced appropriately in my opinion have moved quickly. The Colony units came back on the market for a good price - pending within days. Same for 1101 Fleming - a darling of deal in my opinion.

Back to the "litmus test" Shipyards. Truman Annex is always in high demand. There are 3-4 Shipyards units with surprisingly high DOM/CDOM and the list prices appear in line with YoY. So why are the lingering? I'm sure there's a number of possible reasons. They seem to priced appropriately and time will tell with what I consider to be the litmus test of 2014.

A wild and wacky beginning - to say the least!

Thanks for the wonderful blog - I devour every post and have learned much from you.

Best wishes to you Gary, your friends, loved ones and all your readers for 2014!

Anonymous said...

If only Windward Park would only permit large dogs we would be there now.


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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.