The asking price on 605 Free School Lane was just reduced from $1,495,000 to $1,395,000 or $856 per square foot. I think this a great buying opportunity for a second home buyer.
The house has got a lot of really great things going for it. First, it is hidden away on a quiet little lane behind the Hotel Marquesa and next door to Nancy's Secret Garden. Those two neighbors mean that the property values will never go down because the adjacent owner will always maintain their property. Second, the house is in good (not perfect) condition. It is used a legal vacation rental and has the requisite transient rental license. Third, the house is almost always rented. That means that it is almost always producing income to help pay ownership expenses when the property owner is not using the property. This is the exact proto-type of house most second home buyers envision when they think of buying a second home in Key West. Well, they may want the house to have an ocean view, but we know that is next to impossible.
When you enter the gate from Free School Lane you first see a lush yard with free form heated pool and then the beautiful 2 story home with an inviting large covered front porch. The first level features a great room, large galley style kitchen, bar area, full bath, bedroom and tile floors. Upstairs are two enormous bedrooms with private baths, vaulted ceilings and wood floors. All rooms throughout the home have french doors opening to the outdoors. You won't believe the views from the second floor. They will make your friends green with envy.
The house is in the heart of Old Town, but it is located on a quiet lane. It produces income to defer the cost of ownership, and it is always rented. It really produces income. It is totally furnished, and it even has a list people with advance reservations waiting to spend their vacation in paradise in what could be your second home. Interested, then CLICK HERE to review more info about the property and then call me at 305-766-2642 to schedule a showing. Since the house is always rented, advance notice is required on all showings.
1 comment:
I deleted a comment because it made disparaging remarks about this property and was not signed by the writer. Anyone can make up something. I'll gladly let you repost what you wrote, but sign your name to it. Please.
Gary
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