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Saturday, June 14, 2014

827 Southard Street - Key West - Old Town - Price Reduction

Everybody likes a good deal.  Well, the asking price on 827 Southard Street in Old Town Key West just got better. The price was just reduced to $525,000.  CLICK HERE to view the Key West mls datasheet and to view listing photos.  
I checked the Historic Sanborn Fire Maps and learned that 827 Southard Street appeared for the first time in the 1899 edition and was then identified as 420 Southard Street, and was later identified as 731 Southard Street, and finally became 827 Southard Street. The notation on the back of the black and white photo above says the house was built circa 1890.  The Monroe County Property Appraiser says this house has 720 sq ft of interior living space. It sits on a 1462 sq ft lot that is rectangular in shape, but the rear has a very odd triangular wedge that I will discuss later.

The listing Realtor describes this property as:
"High atop Solares hill and directly across from the sprawling grounds of the Historic Harris School, sits this classic conch cottage waiting for your personal touches. Currently comprised of two bedrooms and one bathroom, the home appears to have a solid structure with possible expansion of 2nd story over rear addition. Small private courtyard in the back. Property is just a couple of blocks from either Duval Street or the Historic Seaport in one of the most desirable areas of Old Town Key West."  And then he adds: "there is an approximately 150 sq. ft. piece of land that has an easement for use by the current owner. If a buyer would like that land, they would need to negotiate a price with the neighbor, who is amenable to sell it."
 The is an old house that would benefit from a modern renovation. It has very tall ceilings.  I think the hallway is too wide. I think a new owner could reduce the hallway size and expand the room sizes. A new owner might reverse the current layout and make the front room the bedroom. The bathroom could stay in the same location to save on remodeling costs.  I would move the living area to the mid part of the house. I would vault the ceiling in the rear sawtooth addition and add French doors that would open out to the rear. The backyard, such as it is, is very small. See the wedge photo below.  A new owner needs to get creative here. But it can be done. I have seen some incredible small decks. The photos below show how the house looks today. We have a lot of local contractors who redo houses like this all the time. When this house is updated, you won't believe the new place ever looked like these photos.
This house is located directly across the street from the old Harris School that occupies more than half the block. Locals and tourists keep asking what will "they" do with the school. I have no idea. The building is considered historic even if it is a white elephant. Generations of locals went to school there and they will insist any future use must preserve the historic facade. Until that day comes, a new owner can sit on the front porch and view the old school and a parade of passers-by. The house is locate near Mangia-Mangia and Michael's restaurants. Duval Street is just three blocks to the west and the Historic Seaport is about a five minute walk to the north.
CLICK HERE to view the rest of the photos I took of this property. Don't let the condition of the house keep you from looking. This is a great Old Town location and this could be a great small project that could be done for a reasonable amount of money. I sold a nearby house a couple of years ago. The owner and I spoke after I took the photos. We were standing in front of his house when one neighbor passed and said hello and mentioned his name. Another neighbor arrived and there was a similar exchange. That's how life is in Key West, even on a street with lots of tourists, Old Town is after all a bunch of small neighborhoods where people like you and me live and revel in the joys of owning a home in Key West. And it is nice to know that no matter how many houses get updated, the old neighborhood stays pretty much the same over the years. The kids playing recess in the 1950s are planning to retire about now.

 If you want to see 827 Southard Street or any other home in Key West, please call me, Gary Thomas, 305-766-2642. 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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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.