"Snowbird Investment! Serenity on Thompson Lane with rentability on Eaton Street. Truly the best of both worlds. 6 bedrooms,4.5 bathrooms with claw leg tubs and laundry rooms. Two identical tenant units (2/1 on Eaton Street), plus Owner's Unit with lock out guest cabana on Thompson Lane. Separate driveways for tenants and owners. Heated pool and dense landscaping for privacy. Double balconies and Dade County Pine in an historic Key West Conch House. Tenants pay the mortgage."
The listing Realtor at Preferred Properties Key West is a pocket poet of sorts as he describes his new listing at 1027 Eaton Street in Old Town Key West which is offered for sale at $1,695,000. Agents from my office toured the 2500 sq ft property a couple of days ago. The property is divided between the income units that face Eaton Street and the owners unit that faces Thompson Lane at the rear. The first and second floor units are identical, but the interiors finishes are a bit different. The income units have a driveway that will accommodate three cars - a bonus for Old Town renters (having off street parking!). The owners unit has off street parking on Thompson Lane.
I checked out the historic Sanborn Fire Maps for Key West and found this property first shown on the 1899 edition. Earlier editions omitted this stretch of Eaton Street entirely. This area is close to the historic Key West Seaport where most of the early homes, large and small, were built. I found a black and white photo of the property taken in 1965. Note the classic revival style architecture. I originally assumed this was a single family home that was converted into a multi-family home, but upon review of the photos I took, which you can see if you CLICK HERE, it is entirely possible this structure was built as a two or three unit property. The apartments have Dade County Pine interior walls that bisect the first floor. Those walls are hardened like cement. It is unlikely that someone moved the walls to create the current uses but rather the usages was adapted to fit the spaces. Staircases in most large houses of similar construction normally extend up the wall from the front door (in this case the left side). Entry halls in such houses normally extend about four feet beyond the staircase to create a total opening of seven feet or so. The opening in this house is much wide which makes me think the room divisions bisecting the house may be original.
Below are photos of the ground floor apartment which has two bedrooms, one bath, a living area and kitchen. The unit has use of the ground level front porch. The second floor unit has an identical layout. That unit has the use of the second floor balcony.
email@example.com. I am a buyers agent and a full time Realtor at Preferred Properties Key West. This one of the few properties that you can actually own a large home and have substantial year round income at the same time.