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Sunday, September 18, 2016

1119 Packer Street, Key West - Potential Perfect Place in Paradise

I refer to myself as Realtor to the Dreamers for good reason: there are many people who have this intense desire to find a place in Key West where they can live in Peace and Happiness. They see Key West as an incredibly charming island city filled with cute little cottages where want to live either part time or preferably full time. They envy the locals who live here and believe that if they can get a place here their lives will be forever enriched. They inevitably call me to help them find the perfect home. Those either without a lot of money or who have good design and building skills seek project properties to create their own perfect place in Paradise.
The house at 1119 Packer Street is located in the Old Town area referred to in the Key West MLS as South of Truman. This area is a beehive of activity of late. Buyers have discovered that homes in this area may be cheaper to buy and may offer design and build options that could not be achieved in the historic district. While the rules are the same, houses like 1119 Packer Street, which was built new in 1957,  may avoid many of the rules that constrain renovations of historic homes. 
The listing Realtor, not me, describes the property this way:
"LARGE FENCED PROPERTY WITH PLENTY OF OFF STREET PARKING IN OLD TOWN! 3 bedroom, 3 bath home is conveniently located to shopping and all that Key West has to offer. The property is completely fenced. Large yard. Properties with this kind of space are hard to find in Old Town. X Flood Zone."
The Monroe County Property records show us this home was built in 1957 which means it is not historic. The home is in good condition. It has been maintained and does not need "fixed". I believe the size of the lot coupled with the location of the house on the lot, make it a great candidate for a renovation.  The 1402 sq ft house sits on a 54.98' X 93.5' lot (5140 Sq Ft)  located one block from the second highest spot in Key West - United Street. This home has a coveted X Flood Zone location which means a new buyer would not be required to purchase flood insurance if financed by a lender.
I recently showed this home and later returned with a local contractor who offered numerous money-saving options to my prospective buyer. He pointed out the house has a relatively new roof which means a new homeowner won't have to worry about the roof for several years. He suggested simple cosmetic changes to enhance the curb appeal by removing a lot of the concrete which surrounds much of the house. He suggested removing the existing windows and replacing with new six-over-six windows would significantly improve the street appeal. The addition of nicely painted shutters would give this place new pizazz.  As he spoke I suggested taking out part of the existing front room to create wider front porch. Adding columns and railings would totally change the look. . 
I often imagine what a new owner could do to an existing home that would not cost too much money but that could totally transform the look and use of space. I would take down the old galvanzied fence and remove the concrete which surrounds most of the house. I would landscape the yard and install a new white picket fence and still maintain an off street parking space.
The current house is divided into many small rooms with varied uses. A new owner will likely gut the interior and re-purpose all of the spaces. If I owned this house, I would move the bedrooms to the front and move the living, dining, and kitchen to the rear. I would expand the existing rear just a bit to give the space a clean and sophisticated look and then open a portion to create anew covered rear porch over looking the pool and rear garden. I would add a deck at floor level so that the owner could walk from house to pool without stepping down. The rear lot runs 50 feet - that is more than adequate space to add a great pool with room for deck and garden. You can't find many lots in the historic district with this much land and especially lots that are void of troublesome trees.
Packer Street is located five blocks east of Duval Street - the same distance as Margaret Street in the historic district. So it is a five to seven minute walk to Duval. Most of the gyms and yoga studios are located within a five minute walk. Fausto's has a grocery store located on White St which is five blocks to the east.
Most of the houses on this block of Packer Street have been renovated in the past few years. This is one of the few houses that remains untouched. I would love to show this place to a buyer who wants to create that perfect place in Paradise. CLICK HERE to view the Key West MLS datasheet. Then please call me, Gary Thomas, 305-766-2642, to schedule an appointment. I am a buyers agent and a full time Realtor at Preferred Properties Key West.


4 comments:

Anonymous said...

Hi Gary, What is the correct list price on this property. When I hit the MLS link in your blog it shows $599K but when I do a direct search using your MLS search link it shows $899K. Thanks.

Anonymous said...

It seems like the new MLS is still having problems with the public links. Too bad - I really preferred the old with better info and nicer layout.

Gary Thomas said...

The mls was not working this morning when I first read the price comment. It is now. The current price is $899,000.
Gary

Gary Thomas said...

The link works.

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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.