"Wonderful, original conch home with three legal units. Great location and superb street presence. Access to the rear cottage is from a lane.Possible conversion back to single family and would be a really spectacular property as such. Opportunity to work with a property that has been maintained while leaving a Key West flavor."I did a second review of the Sanborn Fire Maps of Key West and learned that 622 Grinnell Street first appeared in the 1892 edition. It could have built several years before that because, for some strange reason, that block of Grinnell Street was omitted in the 1889 edition. Anyway, we know the house existed in 1892. I found a photo of the property that was taken in 1965. Compare that black and white photo to a photo I took a couple of months ago.
The property consists of the main house on Grinnell Street and the rear (guest) cottage on Canfield Lane. The main house does not have (and may have never had) an interior staircase. I have shown this property several times and have been unable to find any evidence of a prior interior staircase. However, the house is quite large and there are a couple of alternative areas where a new staircase could be added which would then lead to the conversion into a single family residence. Until a few months ago one sibling owner occupied the first floor and another occupied the second and third floor. The cottage has been a rental for some time. This explains the mls listing as three legal units.
622 Grinnell Street has 1820 sq ft of interior living space. The cottage has an additional 512 sq ft. The house and cottage sit on a large lot on one of the quietest blocks in Old Town. Grinnell Street dead ends at the corner of Angela Street which is the northern boundary of the Key West cemetery. In my opinion the highest and best use of this property would be to convert the main building into a single family residence and update the guest cottage. There is adequate room for a pool on the south side of the house and there is room for off street parking beside the guest cottage.
The photos below were taken a few months back when the property was owner occupied. Tenants now occupy the property and it does not show the same.
Main floor living room |
Third floor apartment |
Third floor apartment with old scuttles |
Third floor rooftop deck
Second floor living room with front with front porch |
I sold the house next door at 618 Grinnell Street a couple of years ago. It was in similar condition and it was owned by the same folks that own 622 Grinnell Street. My buyer got a much better price than the asking price. That does not infer a buyer for 618 Grinnell would get the same type of deal, but you never know what price you can agree upon until you make a real offer. My buyer did an excellent renovation of his property for which he received a Ceramic Star for Historic Restoration. (He took out most of the old trees and vegetation, added a pool, parking on the side, and introduced new native landscaping.) Look at the before and after and imagine how proud you would be to receive to similar recognition.
The 600 block of Grinnell Street is one of the quietest blocks in Old Town. That is because it ends at Angela Street which is the northern border of the Key West cemetery. That means that Conch trains, trolley cars, and Duck Tour vehicles will not be using this street. Those vehicles cannot traverse Angela Street. Your life will be quieter because of this. Occasionally you will still see tourists walking by or riding bikes. And you will see neighbors go across the street to use the Grinnell Street Pocket Park.
Five Brothers Grocery and Sandwich Shop is located down on the corner of Southard Street. The Key West Historic Seaport is located three blocks further north and Duval Street is located five blocks to the west. Most of the gyms and yoga studios are located within a five to ten minute walk of this location.
622 Grinnell Street is offered at $1,200,000. CLICK HERE to view the Key West mls data sheet on this property. Or better than that, please call me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com. I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise.
2 comments:
Gary:
One thing I have never been able to understand about Key West real estate--
This property has been for sale for 250 days according to the MLS data sheet. I see this time and again-- properties languish for months, even years, unsold.
There is a buyer out there for every property if the price is right.
I just saw this comment that was posted 13 days ago.
I explained in the blog that I sold the house next door that was owned by the same owner. It, too, had been lived in for years and it had a lot of potential. It was priced much higher than the price at which it sold.
I don't think the sellers need to give away this house in order to sell it. I do think they will respond to a reasonable offer.
There are fewer and fewer large properties for sale in Old Town - especially ones like this that have character, a separate cottage, off street parking, room for a pool, a good location, and that will be worth a lot more when they are renovated than they are now.
If some new owner invests about $500,000 in renovation in this property, I am pretty confident the updated properties (house and cottage) will be worth over $2,000,000 when completed.
There are some absolute dogs for sale at a higher price per sq ft with a lot less long term potential.
I know more than I can write. I think this is a really attractive property for the right buyer - somebody with cash, ideas, and a desire to have some fun in real estate.
Gary
Post a Comment