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Thursday, March 15, 2018

62 Front Street, Key West - Commanding Truman Annex Property

The 600 block of Fleming Street in Key West during the 1920s
Front Street in the Truman Annex, Key West in the 2010s
The two photos above show how much Key West has changed in the past 100 years and how much things remain the same. Last week I wrote a blog about the big house at 923 Fleming Street where I remarked about notation on an early Sanborn Fire Map that Fleming Street was bricked. That remark was noteworthy because many streets back then were dirt. Bricked streets signified that the houses belonged to the wealthy. Followers of my blog know that the houses on Fleming Street today are still among the most expensive in Key West. The color photo above shows Front Street in the Truman Annex addition to Key West which was developed in the early 1990s. Most of single family homes located on Front and Emma Streets are owned by the wealthy as well.
The new listing at 62 Front Street, Key West is a modern day Eyebrow House with widow's walk.. This 2486 sq ft home was built in 1998 and varies greatly from the historic eyebrow houses built more than a century earlier in that the living spaces on the main floor wide and open and the bedrooms on the second floor are quite large as compared to the bedrooms found in historic homes. The house has a commanding presence on this street on this street of fancy homes. The listing Realtor describes this property this way:
"Located in the Key West Truman Annex is a very prominent Eyebrow home,custom built in 1998 for the President of the company that developed the Truman Annex. A large front porch allows you to enjoy the beautiful manicured landscaping of the Truman Annex. Opening the front door to this 4 bedroom 3 bath home, you are mesmerized by the size of the open floor plan and soaring ceiling heights and light. The Kitchen has custom cabinetry with granite counter tops with access to the outside living and pool area. On the main level is a full bath and bedroom adjacent to the living room with French Doors leading to the covered deck and pool. A custom staircase leads to 3 bedrooms and 2 baths with oversize closets. Another highlight is 2 covered Parking spaces. Transient License."
Two sets of French doors with clerestory windows above open out to the covered deck pool beyond which are two separate carports
For some reason that I do not fully understand, a lot of potential buyers want to buy a house that they may rent for income when they are not using it. I understand the idea and have written about the ability to do it. What I don't really understand is why someone who can afford a house as expensive as this would want to rent it. But if you do, you may, as this house has a valuable Truman Annex Transient Rental License which permits an owner to rent the property for 25 weeks each year plus as many 30 day months as one wants. Remember this house has four bedrooms and three baths, a sunny pool, off street parking, as is within easy walking distance to Ft Zachary Taylor Beach and the dining and entertainment on nearby Duval Streets. Renters will love it!
CLICK HERE to view the Key West MLS datasheet and listing photos on 62 Front Street, Key West which is offered for sale at $3,570,000. Then please 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.

3 comments:

FloridaAG said...

Peter's house. It is a beautiful home. That staircase is quite steep, for what is worth.

Anonymous said...

Isn’t the transient licensing for Truman annex running out in a few years?

Gary Thomas said...

Yes - about ten years or so. But I doubt they will go away. Too many people have invested a lot of money in the money makers. The small condos are cash cows for the owners and the city. They keep a lot of locals employed as maids, handymen, groundsmen, property managers, etc. They produce an incredible amount of revenue which is shared by the city and county. The city will not give that up. You can count on that.
Gary

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