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Friday, May 31, 2013

921-923 Johnson Street - Casa Marina Area - Key West

I frequently write about this or that property being located on one of the best lots in Old Town because most new "second home" buyers want a house in the Old Town area. That is the area with which they are most familiar.  I often write about homes in the Meadows Area or Casa Marina Area as differing locations worthy of consideration.  The listing at 921-923 Johnson Street is located in the Casa Marina Area.  It is probably not what second home buyers envision unless they are looking for a large lot with development potential in a terrific location where the property values should substantially increase.  If that fits your potential buyer profile, please keep reading.

The listing Realtor describes 921-923 Johnson Street this way:
"This is the last re-developed corner lot at Johnson Street and Grinnell in the highly desirable Casa Marina/Higgs Beach neighborhood of Key West. Currently metered and rented as a triplex, the property could serve as a long term investment or new home site for a Buyer's dream home on its 10,000 square foot lot. There are three addresses currently used (921 & 923 Johnson and 1506 Grinnell) and each unit is occupied by renters."
 The location at the intersection of Johnson and Grinnell Streets helps explain the asking price on this development parcel - this is one of the very best sites in Key West.  The lot is 100' x 100' or 10,000 sq ft. Houses on the other three corners are multi-million dollar homes. Nearby homes on Grinnell Street, Casa Marina Court, and Johnson Street are also valued in the million dollar plus price range.  The nearby homes are valuable for many reasons including proximity near the beaches, extra large lot sizes, unique architectural design and superior construction. CLICK HERE to view more photos of the site and the nearby homes.
The existing buildings were built in 1953 and are now used as three rental units.  According to the Monroe County Property Appraiser the current buildings total 2,345 sq ft.  CLICK HERE to view the Key West mls datasheet and to view listing photos. This property is offered at $1,650,000. (or $165 per sq ft for land value)

A few months ago I wrote about a similar home located two blocks east at 1119 Johnson Street. That property was a vintage 1963 split level home that sat on a 7500 sq ft lot on a block of multi-million dollar homes. It sold $1,300,000 (or $173 per sq ft for land value) and is being razed to construct a new contemporary residence for the new owners.  CLICK HERE to see sold price.
Public tennis courts and the beaches one block south
I have long wondered when the owner was going to sell this parcel and when some new buyer would seize the opportunity to create a great new residence at this dynamic location one block away from the Casa Marina Resort and the nearby beaches.  If you are that buyer please contact me, Gary Thomas, 305-766-2642, to discuss this property. I am a buyers agent and a full time Realtor at Preferred Properties Key West.  







Tuesday, May 28, 2013

101 Golf Club Drive - Key West, Florida

The two story two bedroom town home at 101 Golf Club Drive in the Key West Golf Club Community offers 900 sq ft of affordable living space with two bedrooms, two baths and an incredible view of the first fairway right outside the back deck.  This property is offered at $369,000. The listing Realtor describes the home this way:
"Life is grand w/fantastic vista along #1 fairway/green! Lots of beauty to gaze at w/out the upkeep! Simply delightful sitting on double-decker screened verandas w/rebuilt spindles off liv. rm. & master bdrm. Savor those soothing Eastern breezes flowing through. Sweet location steps away from lagoon pool/clubhouse bldg./fitness rm./butterfly garden. Hardwood floors grace the lower level w/Berber carpet upstairs. Nice size kitchen, good workable counter space/breakfast bar. 2 bdrms. en- suite w/private adjoining baths. Guest bdrm. has Fr. doors leading to cozy veranda. New AC, new stainless dishwasher, termite protection, lots of love in this vacation home, never utilized as a rental. Low maintenance yard w/neat & trim plantings. SWEET home!"
 
 This home is typical of other town homes at the golf course. The kitchen is up front followed by the dining area and then living room. The screen enclosed rear main level deck provides afternoon shade while watching the golfers. 

Upstairs each of the two bedrooms has an en-suite bath.  The front bedroom has a second level front porch as well. The master bedroom is at the rear where it, too, has a second level rear porch.  CLICK HERE to view more photos I took of this home.
The larger of the two swimming pools and the fitness center are located within easy walking distance.  The HOA fees for all units are $330 per month and include the payment of basic cable, common area and pool maintenance, and security. CLICK HERE to view the Key West Association of Realtors mls datasheet and listing photos.

If you would like to see 101 Golf Club Drive or any other property in Key West, please call me, Gary Thomas, 305-766-2642 to schedule a private showing. I am a buyers agent at Preferred Properties Coastal Realty, Inc. 

Monday, May 27, 2013

1218 Varela Street ~ Old Town ~ Key West


1218 Varela Street - Key West

Bring your flip flops, a toothbrush, and some clean clothes - that's all you need if you purchase the new listing at 1218 Varela Street in Key West. This house has been meticulously updated and it sparkles. The listing remarks state:
"Elegant two story, renovated 4/3 1/2 home on the edge of Old Town South. The owners have done an impeccable job turning this home into a Key West Show place. As you enter the foyer, you are immediately drawn to a view of the outside pool and lanai. Bright colors surround you. On the first floor is a large cooks kitchen with warm wood cabinets, stainless steel appliances, granite countertops, complete with a pass through window. On the second level there is a very large ensuite master with a sitting area. The bathroom is all marble with access to a walk-in closet. Down the hall are the other two bedrooms which share a modern bathroom, with a terrace the length of the front of the house. Designer elements throughout to be appreciated."

The front porch presents the face of what is awaiting on the inside.

The front entry leads to the living area at the rear and the pool area with the lanai and guest cottage beyond. The kitchen sits at the left rear and opens into the living area and also has pass through windows that open out to the lanai.
A comfortable office is located at the front of the house on the main floor. A new command central was installed to provide whole house television, telephone, Internet and wi-fi access at one centralized point.I guess one might call it a gentleman's man cave.
Upstairs you will find a delightful master suite. The bedroom area is quite large by itself. The adjacent sitting area provides a nice alternative area to relax when the house is filled with relatives or guests. The en-suite master bath has marble everywhere. A large walk-in closet completes the master bedroom suite.
There are two other bedrooms on the second floor. The bedroom front bedroom has a door that opens onto the second floor three bay front porch. The two bedrooms share a large bath.

The lanai provides gracious covered outdoor living space overlooking the 43 foot heated pool and adjacent spa. The guest cottage with bath is at the rear. The guest cottage was updated with new interiors and HVAC. It has the old cottage look from the outside but it is ever so cute and functional on the inside. All of the deck areas feature TREK Decks. A new sprinkler system was added and all of the landscaping was designed and installed by a local landscape architect.

 1218 Varela Street is offered at $1,795,000. (Home furnishings offered separately.)  CLICK HERE to view the Key West mls datasheet and to view listing photos. Please call me, Gary Thomas, 305-766-2642 or Cory Held, 305-240-0355 to arrange a private showing.



Sunday, May 26, 2013

506 Elizabeth Street - Old Town - Key West

Just listed, but not by me, 506 Elizabeth Street in Old Town Key West. This 1292 sq ft property 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 this past week. 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. The lot provides outdoor space for the ground floor tenant or owner. Both the main level and second floor apartments have wonderful covered front porches for people watching.  The downstairs apartment has a large rear deck. 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.


The listing Realtor describes 506 Elizabeth Street this way:
"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." 

Inside both units have Dade County Pine walls, ceilings and floors. The main level wood walls have been covered in most areas but the Dade Pine is still existent underneath and could be exposed.  Dade County Pine walls are the distinctive architectural feature on the second floor where years of paint have been removed to show off the rich deep grain and color of the native wood.
First Floor Apartment
Second Floor Apartment
The main level kitchen is 21st Century with granite 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 main level bedroom has ample closets for storage. A door at the rear opens out to the rear deck area that is fenced and which provides quality outdoor living area.  There is room for a hot tub in this space. (No permit is required as a hot tub is portable and can be removed.)  The main floor apartment might rent for $1800 per month.
The bedroom on the second level is quite spacious. The hallway is extra large and provides workspace for a home office.  The second floor apartment might rent between $1500 to $1700 per month. (Rentals are estimates as the owner is renting both units at below market rates to friends.)
506 Elizabeth Street just might be the answer to the dreams of many would-be second home buyers in Key West. As a legal duplex a new owner could retain one apartment for personal use and rent the second one either as full time or possibly as vacation rental. (I think the first floor unit with a hot tub on the private rear deck could work well as a vacation rental.)  But either unit could be rented for enough money to probably pay the annual taxes, insurance, and maintenance costs on the building. At some time in the future the owner could open the hallway door and return the property to single family status. CLICK HERE to view more photos.

You could not ask for a better location.  All of the wonders of Duval Street and the more relaxing elements of the Historic Key West Seaport are within a five minute walk from 506 Elizabeth Street. People from around the world go to Nearby Sarabeth's for breakfast, lunch, and dinner, but you could be there in just a couple of minutes. The Tropic Cinema is one of the best small movie theaters in the US. You could be there in five minutes by foot. If you are gay and want a place to swim with the boys, you could go to the Island House on White Street. But if you are straight, you could instead go over to Dante's. That's the reason this location is so great-you can go anywhere by foot in a matter of minutes. And when you get to your destination, you might just have a very memorable experience.

CLICK HERE to view the Key West mls datasheet and to view listing photographs. But better than that please call me, Gary Thomas, 305-766-2642 to set up a showing to view 506 Elizabeth Street in Old Town Key West. I am a buyers agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. Let me help you find your place in Paradise.




Disclaimer

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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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.