629 Elizabeth Street, Key West - Buying Opportunity

I have written about or mentioned the house at 629 Elizabeth Street numerous times over the past eleven years including when it was first listed for sale as a "fixer-upper". I know a lot of buyers tried to buy the place back then, including a buyer I represented. He made what he called a fair cash offer which was rejected. The seller selected a different offer and that buyer undertook the project of essentially building a brand new house which incorporated just a few boards from the original cottage that sat on this, the highest point on the island of Key West. While the original frame was maintained in appearance, the house itself is all new. CLICK HERE to view the photos I took during the construction process to memorialize what once was to what became.  I have added a couple of the original photos below so you can see how the house appeared prior to the "renovation".

The 629 Elizabeth Street was listed for sale in December 2016 at $1,699,000 and has had periodic price reductions since then.  The asking price was just reduced to $1,399,000 which is 23.7 % lower than original asking. The reduced asking price makes this an official buying opportunity in my opinion. Last week I cited 712 Ashe Street as one of the best buys in Key West in 2017. It was a similar "renovation" situated on a smaller lot but it included a pool. It sold for $1,410,000.  The new price on 629 Elizabeth Street will attract a buyer now.

During the "renovation" the original cottage was expanded with additional living spaces. Today the house has 1647 square feet of living space which now includes an open space concept living area, three bedrooms, and three baths. The original front porch is now a sitting porch off the master bedroom. The front entry was relocated to the side of the house where guests now enter into the vaulted living area.

One of the major attractions of owning a second home in Key West is our wonderful wintertime weather. This home has collapsible doors which allows seamless movement between the indoor and outdoor spaces. The one thing the owner did not do that could be done is to add a swimming pool. There is room for a pool at the rear corner of the back yard.  Not all owners want a pool and the monthly cost associated with one. So whoever buys this home can decide if a pool is in his or her future.

CLICK HERE to view the Key West MLS datasheet and listing photos of 629 Elizabeth Street in Old Town Key West now offered at $1,399,000. Then call me, Gary Thomas, 305-766-2642, to schedule a private showing. I am a buyers agent and a full time Realtor at Preferred Properties Key West. This home is designed for easy living as all rooms are located on one level.  You can walk to Duval Street or the historic seaport in about five minutes. And when you come home at night you will enter a place that is perfect in so many ways.