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Tuesday, May 3, 2016

101 Petronia Street, Key West - Bank Owned

Just Listed 101 Petronia Street in Key West. This house was built new in 2004 and has a lot of features home buyers are looking for including a pool and off street parking.
The listing Realtor describes this Bank Owned property this way:
"Newer 2 story 2 bedroom 2 and a half bath with a large loft and dip pool in Bahama Village. Hardwood floors, wood cabinets and granite counter tops. Walking distance to restaurants, art galleries and night life."
So here's the skinny on this house. The house was built new in 2004. It is a two story two bedroom and two and one-half bath home with 1240 sq ft of living space that sits on an irregular lot that measures 1945 sq ft. The lot is irregular because a portion of the second floor is built over the single story building next door. CLICK HERE to view more photos I took. You will then understand. 
The interiors suggest to me that this house has many quality finishes you don't normally see in a lot of newly built houses anywhere in Key West.  That means to me that the prior owner really took pride of ownership in this property. Again you need to look at the photos for the details built into this home.  It starts at the front gate where you see the attention to detail that flows through this home.
There is a nice side yard on the west side of the house with a gated entry at the front. This yard needs some new landscaping to replace what must have been there before. There several French doors in the living room and great room that open out to this and the rear deck and pool area. Yes, there is a real pool with waterfall at this home. The deck and house all look in very good condition. A home inspection should be ordered but I did not see anything that caused me any concern other than the place needs a good cleaning and a fresh coat of paint.
CLICK HERE to view the Key West mls datasheet on 101 Petronia Street which is offered at $585,000. Then please call me, Gary Thomas, 305-766-2642,  to set up a quick showing of this Bank Owned property which I suspect will sell quickly at over the asking price. I am a full time Realtor at Preferred Properties Key West. This house has so many positive features that include its recent construction, real wood siding, wood interiors that mimic Dade County Pine, real hardwood floors, a pool, and parking all of which are located two blocks from Duval Street.


Anonymous said...

hi gary. the view of the back of the home makes one's head spin. just what is that building that they built over that caused them to cut the second story off in the back? what is that building used for? a nice looking back yard and insides but the other next door building that is being worked on, is that going to be some kind of housing or is that some office or other business building? thanks!

Gary Thomas said...

Dear Anon, I received a couple of phone calls and emails about this.
The building next door to the east is a single family house that existed when this new house was built.

The Property Appraiser site map for 101 Petronia shows an indentation into the east side of the lot that runs several feet from front to back and a couple of feet into the lot - but only a couple. My guess is that the other house may have been onto the 101 lot when the two lots were owned by the same family. I seen other instances where families did not care about lot lines. No matter why it happened, it did happen and the lot line is established. I am making an assumption that needs to be verified. I assume the second floor was either agreed to when the new house was built or their is some legal document that allows the second floor because a land owner owns the space above one's property.

Copy and paste this: This is a Google map of the street. Use the toggle switch to move forward on the street and turn the corner to the right. The building at the corner is owned by the city of Key West. Renovation was started on it without City Commission approval by a department head. It will eventually be finished after the city sorts things out.

This little block has a couple of challenges for a lot of buyers. If you get over the current challenges. Petronia Street has dramatically changed in the past couple of years. There are several really popular restaurants there. The nasty old house at the corner of Chapman Lane has been totally renovated.It is stunning! Give this block a few more years. Money spent now will be well rewarded.


john yoder said...

Gary, what about the buildings right accross the street, they look like apt, what can you tell us about those? And the park at the end of the street, is that city owned?


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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.