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Wednesday, May 24, 2017

6800 Maloney Avenue #56, Key West - Affordable Waterfront Living!

A lot of people dream about buying a little place in the Florida Keys where they can get away from it all. Most of these dreamers don't mind if the place isn't "perfect". In fact, many prefer that it is not. That way they can fix what needs to be fixed and create their version of the perfect getaway cottage. Many of these dreamers really want a place on the water with a nice view - a place they can catch a few fish or play around on jet skis or take the boat out on open water. And the impossible dreamers hope to find such a place in or near Key West which can be purchased for not a lot of money. 

6800 Maloney Avenue #56 is a newly listed home with an open water view offered at just $399,000. The property is located in the Harbor Shores Condominiums about 300 feet or so from the new Oceans Edge Key West Hotel and Marina which has become an instant "hit" because of its waterfront location, multiple pools, and proximity to Duval Street four miles down US1.  This is a manufactured home which sits on a fee simple lot (just like a stick built home up in Peoria or Pittsburgh). Here the property owner owns the house and the land but is also a member of a land based condominium association which owns the common street and amenities including the boat docks.
The lot is an irregular shaped rectangle measuring 35 feet wide by about 100 feet long or 2753 square feet (which accounts for the irregular shape). There is a concrete seawall extends about fifteen feet from the home. The water is pretty shallow in this location. An owner might be able to use a flat boat here and certainly could use personal watercraft. Deep water access is via the channel on the opposite side of this small bay. Each of the homes in Harbor Shores is different. Some are trailers, some are modular homes, and there are several newly built stilt homes. This particular Palm Harbor home is a two bedroom two bath with 888 square feet of living space plus screened porch overlooking the water. And there is an adjacent storage building also included.
The interior in a generic white everywhere combined with some older wall to wall carpet that has seen better times. The kitchen cabinets are in good shape as are the bathrooms. The place needs painted. A new owner might replace the windows and doors with impact glass which would reduce wind insurance and make it a snap to leave and go back up north for the summer without having to hire someone to put up shutters in case a storm heads our way. The listing agent told me she thinks a new owner could spend $20,000 and turn this place into something really charming.
CLICK HERE to view more photos of this home and the Harbor Shores development. This home has a parking space at front. Guest parking is located across the street. About fifty fee to the north there is abundant boat dockage available on a first come basis. A fortunate few owners (like #56) are located directly on the water. Many others have water views while others have the privilege of being located nearby where they can use the amenities. A couple of owners have replaced older homes with new stilt homes. I added a photo so that readers can see what an owner might do at some time in the future. Stock Island is changing for the good. It might make sense to wait a while to replace this property. I think property prices will increase dramatically in the not to distant future.
I found a 2012 aerial photo I found online that shows the location as it appeared then. The marina still exists but the old covered boat storage was taken down and new hotel and pools were built. Harbor Shores is located just above the once-standing Oceanside Marina boat barn. I think this photo explains the lure of this location. In the past couple of years about half a billion dollars has been spent on several new developments on Stock Island. Locals and returning visitors know that Hog Fish restaurant and Roostica are located nearby. More restaurants are being added.
Duval Street is located four miles to the west. There is always something to do there. That's why I feel buyers who dream of having a little place in the Keys will find this place so appealing. CLICK HERE to view the Key West MLS datasheet for 6800 Maloney Avenue #56 then call 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 (listing broker for this property). Remember to click the photo link above as well. This will go quickly. Don't wait. You will be sorry.

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The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.

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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.