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Tuesday, September 1, 2015

1211 Grinnell Street, Key West - Key West Short Sale

If you've been sitting around patiently looking for a buying opportunity in Key West now is the time to pounce on 1211 Grinnell Street. The listing Realtor describes this two story  1360 sq ft home this way:
"Beautiful fee simple home in wonderful Grinnell Gardens compound, a unique compound consisting of 7 units with a large shared pool. Built in 1994 & in great shape, this attached home has two spacious bedrooms & two and one-half baths. Enjoy an open & lovely great room, a kitchen with granite counters & stainless steel appliances & wood floors throughout. The master suite has cathedral ceilings, Jacuzzi bath tub, a loft and a large balcony overlooking the pool. Venetian painted walls, private back porch and a yard complete the picture. Close to the beaches and Duval Street. This is a potential short sale transaction subject to lender approval. Buyer to pay 1.5% short sale negotiator fee. Bring Offers!"
 It's been a while since we've had a short sale in Old Town. Most of the bargain short sale deals got gobbled up a few years back. This property is being offered for sale at a price which is less than the owner owes to creditors. This property was previously under contract and a recent appraisal was obtained. In my opinion the property is appropriately priced and ought to sell at the asking price. Let me take you through the property.
 1211 Grinnell Street is located near the pool. I have shown several of the Grinnell Garden homes over the years and learned that three of the homes actually have private pools. All home owners share in the costs of maintaining the common areas and the pool, but common sense suggests that only four of the owners actually use the pool. The pool view is pretty enticing no matter from which home it is viewed.
You will notice that the homes in the Grinnell Gardens compound copy the revival style architecture found in many Old Town homes. All of the homes are two story residences with first and second floor porches except the one story building located behind the community pool. Each unit has a rear deck or patio.  While each home looks similar to the others, the homes have been modified by their respective owners since the properties were built in 1994.  This owner used a painting technique called Venetian Plaster to paint the interior walls and ceilings.  The owner purchased this home per-construction and added additional insulation between the party wall and floors to provide more sound insulation. There is a half-bath plus storage tucked under the staircase. French doors at the rear lead to the private rear deck and yard.
Home next door treats the loft space a little differently
Both second floor bedrooms are pretty good size. There is a third level "loft" in the master bedroom which is accessed with a ladder. I found a photo of the loft space in the house next door where the space is treated differently.  That owner also replaced the original kitchen cabinets and counter tops. If I bought 1211 Grinnell I would probably paint the interiors a more neutral tone and stain the wood floors a dark color to play against the lighter painted walls and crispy white trim. I would remove the glass blocks from the loft area. These inexpensive fixes would give this home a much more traditional look.
Each unit has its own dedicated off street parking spot. The common area is fenced and is accessed via a gated entry.
Click GOOGLE MAP to see where 1211 Grinnell Street is located. This property is located in the South of Truman area  of Old Town. The beaches are located about six blocks to the south. Upper Duval Street is a five minute walk to the west. The shops and restaurants in the arts district around White Street are a five minute walk to the east. While most of the units are owner occupied, it is legally permissible to rent this unit as a monthly vacation rental.


CLICK HERE to view the Key West mls datasheet. Then 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. It's time to bring Tabby inside from the heat and settle down in a new house.

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Gary Thomas in a Nutshell

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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.