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Wednesday, February 11, 2015

1108 White Street, Key West - Income Property

1108 White Street is a two story mixed-use building located on the White Street business corridor sometimes referred to as the Arts District. Even if you aren't all that familiar with Key West yet, you  surely have driven past this location before. Fausto's Grocery Store is located across the street. Sandy's is down the street.  Look closely at the photo, you'll see 1108 White reflected in the glass doorway 
I looked through the old shoebox and found a photo of the property as it appeared about fifty years ago. If  you compare the current facade in the color photo to the facade in the black and white photo you will quickly see the original second floor front porch was enclosed to provide additional interior space and that the old front addition was expanded a bit as well. The driveway in the black and white photo is now a handicap entrance to the ground floor commercial space as well as entrance to the first and second floor apartments.
The listing Realtor describes the property this way:
"Fantastic opportunity to own a fully-renovated, multiple-use building with commercial space and a private two bedroom two bath residential unit on the ground level, with an exciting one bedroom one bath apartment with private deck and huge unfinished attic for storage or expansion upstairs. This is a high quality renovation with amenities such as polished oak floors, central A/C, high ceilings, stainless steel appliances, separate laundry rooms, and so much more. Being a versatile property with turn-key income, potential uses are unlimited. Future owner can live in one of the residential units and collect rent or just enjoy the income stream. Residential and commercial leases are in place. Income and info available upon request."
I was not able to see the inside of the first floor commercial space. The two residential units are nicely laid out and have large updated living spaces.  They are more like condos than apartments. The first floor is typical of many homes in Old Town in that the living space is located at the rear of the property which then opens out to the back deck. This arrangement gives the occupants a nice living space plus outdoor living area. Renters will pay more money for upgraded living spaces.
The second floor unit has a rooftop deck as well. The exterior stairway has a great view of Fausto's across the street. Sandy's Sandwich shop is located a 1/2 block to the north. There are several gyms and yoga studios within three blocks. The location is an easy walk or bike ride to Duval Street and the Historic Seaport, both locations where many locals are employed. Full time workers will like these units and this location.

CLICK HERE to view the Key West mls datasheet on 1108 White Street which is offered for sale at $1,249,000. Please call me, Gary Thomas, 305-766-3642 to schedule a private showing. I am a buyers agent and a full time Realtor at Preferred Properties Key West.

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The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.


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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.