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Showing posts with label apartments. Show all posts
Showing posts with label apartments. Show all posts

Monday, June 4, 2018

724 Eaton Street, Key West - Historic Home Available for the First Time

In his book, The Houses of Key West, author Alex Caemmerer tells us the Freeman-Curry House located as it is now known was built in 1865 and remained in the same family until the 1920s when it was purchased by T. Jenkins Curry. The Curry's completely remodeled the house located at 724 Eaton Street and moved it back from the street forty feet where it still sits today. He tells us the outdoor kitchen and outhouse were replaced with modern additions to the building available to the rich in the 1920s. 
I searched through my shoebox and found the above black and white photo which was taken in 1965. Look to the left of the photo and notice what I believe was a pergola that is not shown in 2018 color photo immediately above. Note also there is no fence as also shown in the 2018 photo. This house sits on a huge lot that runs 176 feet from Eaton Street to the end of the lot and 65.5 feet wide. A two story garage was built at the back of the lot which most of which has been converted into apartments. More on that later.
 
The house is built throughout with Dade County Pine - walls, ceiling, and floors. However, pine was not in fashion during the 1920s remodel. Beaver board covered the walls to give the affect of plaster which was then painted. As soon as you enter this imposing home you know it belonged to someone important. Indeed, it did - the county sheriff.
The listing Realtor told me the parquet floors in the ballroom (located to the left of the main entry hall) are a newer addition to the house but he did not know when they were added. All of the house is painted boldly including the ballroom which has trompe l'oeil walls which include wainscoting and panels. Look carefully at the middle photo above and see two delicate French doors which open into an office at the left side of the home. There you will the safe. I used to own a different mansion in the 500 block of Eaton Street. It had a massive safe as well. Years ago I was reminded that back before the Great Depression people did not trust banks and kept their cash in homes.
The formal living area is located to the right side of the entry foyer.  Delicate glass paneled French doors set it off from the entry when privacy is needed. Note the crown molding and extra-high base boards that surround the walls in each room. I assume the colonnade dividing the living area from the dining was a new addition during the 1920s remodel. I don't know this to be a fact with regard to this house, but these colonnades were sold by SEARS in its catalog homes. It's impressive none the less even if that is the case.
The kitchen has wood cabinets made on the site. They are still in perfect condition but may not appeal to modern buyers who can afford nothing but the best. The current owners added a covered rear porch in the 1990s which is accessed through the kitchen.

The arches on the columns replicate the arches at the front of the house. I found this outdoor lounge to be absolutely gracious and inviting. Even though this addition is new, it fits well in this old house that has such a rich history. The architectural drawing of 724 Eaton Street was made by Milo Smith and Associates in the 1970s. It shows the details in this home and proves my point about the rear arches.
The grand staircase delivers us to the second floor. But notice a doorway a few steps below the second floor level. There is a bathroom located in that space.  There is an access panel to the full attic above which has wood floors and is air conditioned.
The master bedroom with huge en-suite bath takes up the entire left side of the second floor. A door a the end of the hall opens out to the second floor balcony.  The house sits tall on the lot - taller than any I have been inside.
The black and white photo above shows the rear of a property located at 808 Eaton Street in 1914. Now the photo elevation is higher that the second floor of that property, but it suggests that one might have had a view of the old seaport located two blocks to the north. Today that background area is the home of the Hyatt Hotel, a big condo, and numerous restaurants.
There are two guest bedrooms located on the west side of the second floor hallway which share the Jack-and-Jill bath. The rear bedroom is used as an office by the current owner. Remember there is a full guest bath mid-way on the stairs for the can't wait moment.
The garage at the rear has been renovated and expanded and now includes legal residential apartments. I suspect a new owner may not want to rent apartments and might want a pool. I think the CBS apartment building could easily be converted into a stylish guest cottage by affixing Hardiboard siding to the walls and replacing the metal windows with period correct wood window giving the cottage look many people want. Part of the first level could be opened and re-purposed as a pool cabana with bar and bathroom. I would add an outdoor shower and add a pool in the middle.  I might also remove the entire rear of the front house and add a new two level porch which would open up the rear to superb views of the pool and rear building. This is a very expensive home and whoever buys it will surely re-invent the space to their liking. I think this will remain an historic property but will likely be bought into the 21st century in new and exciting ways.
CLICK HERE to view the Key West MLS datasheet and 44 photos of the house, apartments, and ground of 724 Eaton Street, Key West. This is the very first time this historic home has been placed on the MLS. Please 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.

Tuesday, May 17, 2016

1122 Southard Street, Key West - Price Reduced on Investment Property


The asking price on 1122 Southard Street in Key West was just reduced from $995,000 to $875,000. This is the really interesting property with upside potential. The listing Realtor describes this investment property this way:
"This historic building includes 5 licensed apartments. There is a large 2BR/2BA, two story unit at the rear ideal for an owner, a 1 Bedroom, an efficiency and 2 studio units. Lot's of the original Dade County Pine and architectural details including the original staircase are intact. Excellent Old Town location. The property is currently owned by a non profit organization for their use and so rents are currently well below market value"
Frequent readers of my blog know that I have a shoe box where I sometimes find old photos of actively listed properties. I found just such a photo of 1122 Southard Street that was taken five decades ago when this property was a laundry of all things.  I searched the historic Sanborn Fire Maps to see if I could determine when 1122 Southard Street was built. The 1889 Map ignored this area entirely but I know for a fact that there were multiple homes and businesses in existence in the immediate area at that time. then. It was not until the 1892 map that a building was cited on the lot and the address given at that time was 1018 Southard St. The address of 1018 Southard was changed to 1122 Southard Street on the 1899 map.  That map indicated a small cut-out a the right rear of the lot where a water tower was located. That cut-out exists today which is now a part of a large adjacent property to the rear. My conclusion is that 1122 Southard Street existed at least as of 1892 and probably earlier which I will explain later.

 The Monroe County Property Appraiser shows this building as having 2515 sq ft of living space plus porches. The irregular lot measures 40 ft wide by 82 ft deep minus the cut-out for the old water tower in the rear which I mentioned earlier. The building is located next door to the historic Key West Armory which is now owned by the State of Florida. This suggests to me that the Armory will always be maintained and not become a nuisance neighbor. In fact local painting contractors are just finishing the front facade of this historic building. Southard Street has three of the most expensive listings in town. Most of the single family homes on Southard are priced over the one million dollar mark.
As the listing Realtor indicates this property currently is owned by a non-profit organization which was providing housing to local artists and temporary artists-in-residence. Today the building is vacant except for two tenants. I think whoever buys this building has several options to take advantage of the low occupancy by re-renting the vacant units at market rate without spending any money.  These units are small and ideal for single occupancy tenants. There is a real housing shortage in Key West. These would be rented in a heartbeat.  A buyer who wants to do some "fix-up" could do some improvements to the units. I  am not sure the updated units would rent for a lot more money but a fix-up may make the buyer feel  better about the building itself. The building has been well maintained. I just know that many buyers feel compelled to spend new money whenever they buy something. Below are a few photos of the four units in front.
These apartments would be easily rented to new people moving to the area or to people who have lost their long time residences to be displaced by someone who bought a home that they plan to renovate.  This building is located within easy walking distance to Duval Street and the seaport where many locals are employed. There is adequate on street parking, but the fact of life in Key West is that many locals do not own cars. Instead many locals walk or ride bikes or scooters as primary means of getting around.
The two story unit at the rear has so much potential for either an owner-landlord or as a place to actually spend some money to increase the rental on this particular apartment. I think any money spent on the rear unit is money well spent. This space is worth the price of the building in itself. The income from the apartments in front would pay all taxes, insurance, and upkeep on the building.

CLICK HERE to view some not-so-good photos I took with my small pocket camera on a recent showing of this property. They provide some simple views of the units and the grounds.

The asking price on 1122 Southard Street was just reduced from $995,000 to $875,000. CLICK HERE to view the Key West mls datasheet. Then please call me, Gary Thomas, 305-766-2642 to schedule an appointment to see this property. I am a buyers agent and a full time Realtor at Preferred Properties Key West.

Thursday, March 10, 2016

Key West Investment Propety - Price Reduced on 1122 Southard Street

The asking price on 1122 Southard Street in Key West was just reduced to $995,000. This is the really interesting property with upside potential. The listing Realtor describes this investment property this way:
"This historic building includes 5 licensed apartments. There is a large 2BR/2BA, two story unit at the rear ideal for an owner, a 1 Bedroom, an efficiency and 2 studio units. Lot's of the original Dade County Pine and architectural details including the original staircase are intact. Excellent Old Town location. The property is currently owned by a non profit organization for their use and so rents are currently well below market value"
Frequent readers of my blog know that I have a shoe box where I sometimes find old photos of actively listed properties. I found just such a photo of 1122 Southard Street that was taken five decades ago when this property was a laundry of all things.  I searched the historic Sanborn Fire Maps to see if I could determine when 1122 Southard Street was built. The 1889 Map ignored this area entirely but I know for a fact that there were multiple homes and businesses in existence in the immediate area at that time. then. It was not until the 1892 map that a building was cited on the lot and the address given at that time was 1018 Southard St. The address of 1018 Southard was changed to 1122 Southard Street on the 1899 map.  That map indicated a small cut-out a the right rear of the lot where a water tower was located. That cut-out exists today which is now a part of a large adjacent property to the rear. My conclusion is that 1122 Southard Street existed at least as of 1892 and probably earlier which I will explain later
 The Monroe County Property Appraiser shows this building as having 2515 sq ft of living space plus porches. The irregular lot measures 40 ft wide by 82 ft deep minus the cut-out for the old water tower in the rear which I mentioned earlier. The building is located next door to the historic Key West Armory which is owned by the State of Florida which suggests to me that it will always be maintained and not become a nuisance neighbor. Southard Street has two of the most expensive listings in town. Most of the single family homes on Southard are priced over the one million dollar mark.
As the listing Realtor indicates this property currently is owned by a non-profit organization which was providing housing to local artists. Today the building is vacant except for two tenants. I think whoever buys this building has several options to take advantage of the low occupancy by re-renting the vacant units at market rate without spending any money.  These units are small and ideal for single occupancy tenants. There is a real housing shortage in Key West. These would rent in a heartbeat even .  A buyer who wants to do some "fix-up" could do some improvements to the units. I  am not sure the updated units would rent for a lot more money but a fix-up may make the buyer feel  better about the building itself. The building is well maintained. I just know that many buyers feel compelled to spend new money whenever they buy something. Below are a few photos of the four units in front.
These apartments would be easily rented to new people moving to the area or to people who have lost their long time residences to be displaced by someone who bought a home that they plan to renovate.  This building is located within easy walking distance to Duval Street or the seaport where many locals are employed. There is adequate on street parking but the fact of life in Key West is that many locals do not own cars but use bikes or scooters or their feet as primary means of getting around.
The two story unit at the rear has so much potential for either an owner-landlord or as a place to actually spend some money to increase the rental on this particular apartment. I think any money spent on the rear unit is money well spent. This space is worth the price of the building in itself. The income from the apartments in front would pay all taxes, insurance, and upkeep on the building.

CLICK HERE to view some not-so-good photos I took with my small pocket camera on a recent showing of this property. They provide some simple views of the units and the grounds.

The asking price on 1122 Southard Street was just reduced to $995,000. CLICK HERE to view the Key West mls datasheet. Then please call me, Gary Thomas, 305-766-2642 to schedule an appointment to see this property. I am a buyers agent and a full time Realtor at Preferred Properties Key West.

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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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