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Wednesday, November 2, 2016

809 Washington Street #103, Key West - A Casa Marina Bargain

Just Listed, but not by me, 809 Washington Street #103, Key West, Florida. This unit is one of nine town homes located in the Casa Marina Estates which was built in 2007. According to the listing Realtor, this home has 2240 sq ft of living space divided between three floors. Additionally, there is an assigned off street parking space which conveys with the home.
These town homes were introduced to the Key West real estate market just before the national real estate market collapsed in 2008. The units were built to sell and did initially sell in the $1.6 million price range. After the market collapse, many owners sold their properties via short sales and some were sold as bank foreclosures. The owner paid $1.6 million for this property and is offering it for sale today at $975,000. It is neither a short sale nor lender owned. This is a real market transaction, and I view this property as a real bargain given the size, quality of construction, and location of the property. Since this unit is tenant occupied, I borrowed photos from another unit I sold a couple of years ago located in the building next door which is identical in location and size. The kitchen cabinets were painted and the bathrooms upgraded.
When you enter this home you get a sense that it is a real home and not a unit in a building.  If you have been in some of the condos or town homes in Truman Annex or buildings on the eastern edge of the island, you know what I am referring to. This is a substantial home with extra high ceilings, real wood floors, beautiful cabinets, stainless steel Viking appliances, crown molding, high baseboards, and custom wood trim.  These amenities coupled with the size and location were among the reasons the original purchasers paid the prices they paid.
The above photos show the pool and rear yard configuration for these units. The top and bottom photos are of 811 Washington and the middle is of 809 Washington. The top photo shows the side yard which explains the difference in lot size of this unit versus the interior unit which does not have the extra space. And the middle unit does not have the side windows which permit extra light to enter the unit.
809 Washington MASTER BATH
811 Washington MASTER BATH

This home has three bedrooms plus three and one-half baths. The main floor has a half bath tucked away under the staircase to the upper floors. The master bedroom sits at the rear of the home and has a vaulted ceiling which adds size and dimension to this space. Notice also the two sets of French doors which open out to the rear covered deck. The front and rear of the house has first and second floor covered decks. The master bedroom deck provides a great spot for napping in a hammock or watching the kids or grand kids in the pool below. I included a photo of the bathroom in 813 Washington which changed out the original claw foot tub for a more modern walk-in shower. This is an easy and relatively inexpensive treat that will make the space your own.

Again the above photos show 811 Washington #103 and not the unit offered which is occupied by a long term tenant. CLICK HERE to view the Key West MLS datasheet and to view listing photos.
The two rainbow photos were taken at Higgs Beach in the 1970s. The middle photo was taken there about one month ago. While the White Street Pier has been upgraded and re-named, the views of the water and skies though ever-changing are forevermore brilliant.  I live in the Casa Marina Area and love it. You can walk or ride to the beach in a matter of minutes. You can join the Casa Marina Club to use its private beach, gym, and get a discount of food and beverages. Or you can ride your bike to one of several nearby gyms and yoga studios to take care of your body. I prefer the beach just after sunrise when locals are walking their dogs, jogging or speed walking, or walking for the exercise. The single family homes in the Casa Marina Area are getting pricier all the time. That is why I think 808 Washington Street is such a good buy compared to the cost of a single family home in this area and compared to the cost of a comparably priced single family home located elsewhere in town but that does not enjoy at the structural qualities and amenities of this property.
Please call me, Gary Thomas, 305-766-2642, to schedule a private showing of 809 Washington Street #103. I am a buyers agent and a full time Realtor at Preferred Properties Key West.

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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.