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Saturday, February 27, 2016

1010 Whitehead Street, Key West - Historic Bank Owned Cottage

Just Listed, but not by me, 1010 Whitehead Street, Key West. This unassuming cottage home once belonged to Lawrence Formica who created the world famous La Terraza di' Marti which is less formally known as La Te Da. Today this little home home is Bank Owned.
I looked in my old shoe box and found a photo of 1010 Whitehead Street that was taken in 1965. If you look carefully you will see that the columns supporting the front porch used to be wood and the 1970s-ish concrete block had not been added to the historic house. That kind of addition wouldn't be tolerated today. A new owner could get permission to remove that and take this abode back to its original state or something close to it. I took more photos of the house which you can see if you CLICK HERE.
The front porch would be the perfect perch for people watching. I took these photos in early morning before the tourists got up. Later in the day they will walk by this home on their way to the Hemingway House and the Southernmost Point both of which are located a couple of blocks to the south.  Duval Street is located just one block to the east. This is an ideal location for an owner who wants a small place that is within walking distance to all the attractions Old Town has to offer.
This small house efficiently uses all 620 square feet of living space and then some. When you enter the living room you immediately notice the Dade County Pine walls. The vaulted ceiling gives the living space much greater presence. A loft was added to provide additional sleeping space for the occasional guest. Just past the living room you will find the dining area and kitchen. This space is really colorful.
The one and only bedroom is located on the left front part of the house. Entry is currently located thru the kitchen. And the bath is located on the far side of the dining room. Such is life in a small house.
CLICK HERE to view the Key West mls datasheet on 1010 Whitehead Street that is offered at just $331,500. Then please contact me, Gary Thomas, 305-766-2642 to set up a private showing.  I am a buyers agent and a full time Realtor at Preferred Properties Key West.  I think this house will sell quickly and that there will probably be multiple offers on int. The place needs some work but it does not have to become a total redo. But even if a new owner decided to redo the place from top to bottom and front to back, the expense would be worth it. This place has got a great street presence, a great location, a genuine link to recent Key West history, and it's priced where normal people can buy it and make alternations over the years if not immediately.


Billionaire Real Estate said...

Wow wonderful post about properties, thanks for sharing.
Billionaire Real Estate

Banker Town said...

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Anonymous said...

I was late for a comment section last month and hope you can answer about transient licenses.
It's the mid- January blog.
Thanks Gary.

Gary Thomas said...


Several years ago the City of Key West re-zoned the Old Town area designated specific blocks and even specific addresses within the same block as being capable of receiving a transient rental license. That means that houses or properties not within the designated areas are not capable of receiving a transient rental license. To compound the matter the city planning office has elected to deny the owner of a property that is in an area capable of being a receiver if the transient use would displace an existing full time residential use. This could be an owner occupied situation or a long term rental. As I understand it the goal of the planning department is not to displace long term housing with transient housing.

That said, the cute little guest cottage on Varela is not zoned as a transient rental receiver site.


Anonymous said...

That's a shame because so many times, hotels are booked solidly , particulalry during high season.
Reading various blogs, I now do truly believe there is something going on there with developers and money- connected projects, outweighing the good of the Old Town Key West feel.
I hope the Truman Park is people - dog friendly, and not out for the usual few to make a killing.
Monopolies are such a turn- off and have zero place on this Historical Island.
Thanks for all your excellent information .


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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.