1222-1224 Johnson Street - Key West - Short Sale

1222-1224 Johnson Street - Key West

Want to have your cupcake and eat it too? The cute legal duplex located at 1222-1224 Johnson Street in the east area of Casa Marina may be the answer to your dream of having a place in Key West that you can use for yourself and also legally rent to pay part of your mortgage costs. The property is priced to sell at $429,000. The listing Realtor says this about the duplex:

"Legal duplex with a spacious 2/1.5 and a studio. Good condition with some nice upgrades in the large unit. Each side has a walled yard and parking. Great location near the beaches & White St. pier. Short sale subject to bank approval."

The key words or phrases in the description tell us that (1) the duplex is 'legal' as opposed to a mother-in-law that may not be legal; (2) the space you could rent (or retain for self-use) is small (expect rent of $800 on the small unit); (3) it is in good condition-meaning a new owner will not be required to do a lot of deferred maintenance; (4) it's got upgrades like travertine marble floors and nice cabinets; (5) each unit has private outdoor space (living in Key West is much nicer if you have actual private outdoor space); (6) it has private parking for two cars; and it's located near the White Street pier and the beaches. CLICK HERE to checkout the Key West mls database and to view more photos of this property. Click PHOTOBUCKET to see lots of interior and exterior photos.

CLICK HERE for a GOOGLE MAP aerial view of the area. The above photos do not do the location justice. There are some really nice large Casa Marina homes located east,west, north and south of this property. The photo immediately below is the large home next door to the west and below that is the house across George Street to the east. Not bad company!

next door immediately west

Across Georgia Street on the corner

Off street parking for two cars

Private yard for the larger unit

Separate private yard for the smaller unit

Don't let the term 'short sale' scare you away. The lender that has the mortgage on this property is a local bank that can make a relatively quick evaluation of any short sale contract.

The supply of available homes for sale in Key West that are priced in the $400,000 range is shrinking. Think outside the box and consider buying a property that could throw off a little income in exchange for a small loss of total privacy.

1222-1224 Johnson Street is a listing of Preferred Properties Coastal Realty, Inc. (that's where I work). Please call me, Gary Thomas, 305-766-2642 if you would like to see this nice property neat the beaches.