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Friday, January 3, 2014

716 Elizabeth Street - Rear - Key West

Just listed, but not by me, 716 Elizabeth Street (rear), an absolutely charming Key West cottage. This place will "WOW!" you from the moment you approach as you walk down the small lane off Elizabeth Street. 

The listing Realtor describes the property this way:
"In the heart of Old Town in the middle of the block off a quiet street. Stroll down the walkway and enter the gate to a hidden retreat. Large tropical trees and vegetation that will constantly remind you that you have found paradise. There are two bedrooms and a bath along with living room and kitchen in the front unit and a bedroom and bath with kitchenette in the rear unit. Both units have private outdoor space. The configuration allows for many possibilities. Ready for you to personalize."
A lot of potential buyers want a place they can use and possibly rent to help defray part of the cost of ownership. This property can do just that, but in a way you may not have considered. The rear studio apartment can be rented monthly. It will generate reliable monthly rent every month.  I doubt you would ever need to use the services of a property manager. 
The Monroe County Property Appraiser records show this house was built in 1977. (I found photos of the prior cottage which was razed.) In searching the old Sanborn Fire Map I found the original cottage which was taken down.  Interestingly, the Sanborn map identified the lane to the rear (west) as "Cat Alley". Today Cat Alley is known as Whitmarsh Lane. For readers concerned about flood elevation, this property is located near the top of Solares Hill. 
The property is a legal duplex.  The front unit is the owner's residence with a spacious living area and small but efficient kitchen. A center hall leads to two bedrooms and one bath. The main residence is spotless and in move-in condition. The exterior, likewise, is in near perfect condition.
The rear studio apartment is adorable and is accessed via a path on the north side of the property. You may want to move in there yourself.It ought to stay occupied all year long and would likely stay rented to the same tenant for years to come. With a place this cute, who would want to leave?
The cottage is flanked by garden areas on all four sides. The rear portion of the cottage has a charming covered porch where all you can do is contemplate the glories of living in Paradise. This is pretty much maintenance free living.  Many of the plants are potted (as are many of the denizens on the streets of Old Town).  CLICK HERE to view more photos I took of this property.
There is no room for a pool, and there is no off street parking. If you need either 716 Elizabeth Street Rear won't work for you. On the other hand if you want an easy to maintain place that does not require any repairs before or after you move in and that has an easy to maintain yard, this property may appeal to you. 716 Elizabeth Street Rear is offered for sale at $685,000. CLICK HERE to view the Key West mls datasheet and listing photos.

If you would like to see this property or any other property for sale in Key West, please contact me, Gary Thomas, 305-766-2642 or send me an email at I am a buyers agent and a full time Realtor at Preferred Properties Key West.  Let me help you find your place in Paradise.


Anonymous said...

Maybe the picture is deceiving but it looks like there could be room for a dip pool in that front yard??

Gary Thomas said...

Dear Anon, There is room for a pool but I am not confident the city would permit you to put a pool in the front yard. City code has many requirements as to building size on lots (which includes pools), set backs, and location of pools in general.


Anonymous said...

That is too bad, a pool is important to us northerners, and we could live with a small dip pool, but not without any. Thank you for the info


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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.