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Thursday, May 8, 2014

Bank Owned Condo - 1014 Varela Street #4 - Key West

 1014 Varela Street #4, Key West, Florida is a Bank Owned property in Old Town Key West. This unit is the second floor rear condominium in a small compound of older cottage style homes that were converted into condominiums several years ago. The listing Realtor describes this property as:
"Key West Central Location With Open Living Area/ Kitchen With 2 Bedrooms And 1 Bath Condo With Outside Private Deck To Enjoy The Beautiful Key West Sunshine. This Unit Needs Some Tlc And Personal Touches."
I wrote about this property a couple of months ago when it was first listed at a higher price. I took early morning photos back then. The light was great. The sun had been up maybe an hour or so. The condo sits behind another house which I wrote about a few years ago in this blog.  When I got back to my office I dug into my old shoebox and I found photos of the front and rear properties as they looked before and how they look today.
As is the case for many homes on our small island, 1014 Varela Street #4 is located to the rear of another house. The black and white photo shows how it looked in 1965.  Unit #4 is also the second floor unit. The entry is up the steps to the right. The living room is on the right side of the photo and the front bedroom is on the left side.
According to the Monroe County Property Appraiser Unit #4 is 810 sq ft. There are two bedrooms, one bath, a large living room, an updated kitchen, an usual entry plus laundry and a roof top deck.  See the photos below which are self explanatory.
I took more PHOTOS which you can view if you CLICK HERE. The photos show the gated entry to the unit; exterior photos show the unit from various angles; there are interior shots of each room; and photos of the rear deck.  1014 Varela Street #4 is offered for sale at $254,900 or $314 per sq ft.  It is not a perfect house. The price reflects that.  I was a bit dismissive of the house in front that I mentioned earlier in this blog. I was amazed at the transformation that took place on that property. Take a look at this.  CLICK HERE to search the Key West mls datasheet on view the Key West mls datasheet on this Bank Owned property.  But better than that, please call me, Gary Thomas, 305-766-2642 to schedule a showing. I am a buyers agent and a full time Realtor at Preferred Properties Key West


Anonymous said...

You don't mention the biggest drawback, the condo fee's are $879 a month. Mostly it's windstorm, which is only going to increase every year.

Gary Thomas said...

I believe your comment is in ERROR. I looked at the Second Amendment to Declaration of Viva Varela Condominium which requires the unit owner to obtain personal windstorm insurance for his individual building that is acceptable to his lender.
The mls does show $879 as monthly fee but does not state what it covers.

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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.