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Friday, June 27, 2014

311 Elizabeth Street - Key West - Transient Licensed Grand Conch House

 311 Elizabeth Street, Key West is back on the market. This historic old Grand Conch home is located at the foot of the Historic Key West Seaport and just two blocks from Duval Street. It has a very valuable Transient Rental License, a great pool, and off street parking.  The listing Realtor describes this property as:
"This is a grand historic home with double porches on a great block of Elizabeth Street in the heart of old town. The property has a spacious owner's apartment plus two transient guest house units, one in a separate poolside cottage. The classic architecture features Dade County pine, high ceilings and expansive rooms. The large owner's apartment is in the main house. The pool is surrounded by lush tropical foliage and decking. The entire property is fenced for privacy. The property includes a coveted off street parking space. The A+ location is close to the Land's End area shopping & marinas and Duval Street. Some TLC will make this jewel shine!"
I dug down into the old shoebox and found the black and white photo two above that was taken nearly fifty years ago.   The photo immediately above is very recent. Shutters, flags, and tropical vegetation give the old girl a bit more flair compared to the spartan 1965 photo.  I checked the Sanborn Fire Maps and  found that 311 Elizabeth Street first noted on the 1899 map.  When I recently stepped inside the house to take photos, I could tell this was indeed an old house. Although most of the downstairs was updated in the past twenty years, the dark Dade County Pine walls in the main floor living room and ceilings were a dead giveaway that this was a very old house indeed.
The property has three living spaces that are recognized by the City of Key West. They include (1) the main floor owners' unit, (2) second floor apartment with associated guest house licensed room, and (3) a guest cottage also with a guest house licensed room. There is an attached guest suite extension from the main floor owners unit that includes a living room, Pullman kitchen, bath, and bedroom. (That is actually four living spaces if you do the math!)
The detached guest cottage is as large as many of the smaller homes and condos in the Old Town area.  The great room has a tall vaulted ceiling with skylight and a bright and cheery kitchen. A steep stairway leads to a large second level sleeping loft which is large enough to accommodate two queen size beds.
The guest suite attached to the rear of the owners' main level living area is quite large. It includes a Pullman kitchen (photo two above), a living room, bath, and good sized bedroom. The long rectangular pool is on the south side of the property and has good morning and afternoon sun. The deck envelops the pool and then wraps the ground level addition to the rear of the main house where there is a more intimate private area.
I think this property could make a great renovation property for a buyer who wants a large Key West home with good income ppotential.  This is a great location near the Seaport and Duval Street attractions.

CLICK HERE to view more photos I took of this property.

311 Elizabeth Street is offered at $1,695,000. It has a total of seven bedrooms, four baths, four kitchens that occupy 3124 square feet of space on the 5269 square foot lotCLICK HERE to view the Key West mls datasheet.  Please call me, Gary Thomas, 305-766-2642 to schedule a private showing.  I am a buyers agent and a full time Realtor at Preferred Properties Key West.

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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.