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Wednesday, January 8, 2014

48 Coral Way - Key West - Transient Licensed Condo

Just listed, but not by me, 48 Coral Way in Key West, a two bedroom transiently licensed town home with parking, and a pool at an affordable price.  The listing Realtor describes this property as
"TRANSIENT LICENSE!!!! Located in the gated community of Coral Hammock, this lovely 2 bedroom and 2.5 bath is situated by the community pool. Relax in comfort on your balcony and enjoy the sights. The first floor features 9 foot ceilings, a spacious kitchen, living room, dining room and powder room. The second floor with vaulted ceilings offers two master bedrooms each with a private bath. Covered parking and lush landscaping make you feel at home in paradise."
The unit is located in Coral Hammock on Stock Island (the first island just east of Key West).  The Key West golf club is located across the street. The Florida Keys Community College and several marinas are also located on Stock Island. Old Town Key West is a ten minute drive on a normal day.

Coral Hammock is a small community of  town homes with a large sunny pool and club house with a small gym.  Several of the town homes have transient licenses and are actively rented as such. The units were built in 2004. The tropical foliage has matured and provides a lush environment for residents. The grounds are surrounding iron privacy fences with electric gated access.  Monthly fees are $350 and cover cable television, common area and pool maintenance. Each home owner is responsible for building maintenance and all insurances.

48 Coral Way is a three story unit with 1115 sq ft of living space plus under structure parking at ground level. The second level is where the combined living, dining, and kitchen plus 1/2 bath are located. The top floor is two master suites with private baths. Each home has Hardiboard siding and metal roofs plus porches and balconies for private outdoor living.
The main floor living area is nice and sunny.  This unit is located at the far side of the complex, away from US 1.
48 Coral Way is offered at $369,000.  It is actively rented as a weekly vacation rental. A new owner could continue the vacation rental or not.  Legal weekly vacation rentals like this provide a source to help homeowners pay for the purchase of the unit. Compare that price to a smaller sized and higher priced unit at Shipyard in the Truman Annex.  You can't beat the price. Shipyard is closer to the action, but the savings difference is pretty impressive if you ask me.  CLICK HERE to view the Key West mls datasheet on this unit.

Please call me, Gary Thomas, 305-766-2642 to schedule a showing of this unit. Advance notice is required as this unit is actively rented as a vacation rental.  I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise.


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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.