2905 Venetian Drive, Key West - Bank Owned

Everybody wants a deal in real estate, especially in Key West. The newly listed Bank Owned property located at 2905 Venetian Drive may be the deal you have been hoping to find. I took a few exterior photos which you can see below.

The listing Realtor describes the property and the sales rules below:

"Opportunity to build your Key West Dream Home located on the Riviera Canal. The building is ready for demolition leaving you with a parcel which already has a pool, deck and you can dock your boat behind the house of your dreams on the concrete seawall. The property has 56 feet of canal frontage and is 100 feet deep. The property is a prime candidate for removal and replacement with an elevated home that meets the current FEMA guidelines. Showing instructions are as follows: exterior only--no interior showings allowed.. CASH only Sale...All bids should be submitted on line (void where prohibited). Bidders can submit any offers pre-event on our ''Make Offer'' button on the site. All pre-event or post-event offers will be reviewed and responded to within 3 business days......."

I took the above photos earlier today. I am not a boater or fisherman, but I know the value of this location and the opportunities it affords a buyer who wants to own a new home on a navigable canal in Key West. The photo immediately above shows part of the canal that actually starts on the Gulf of Mexico side of our island. That water flows under North Roosevelt Boulevard and ends up turning east to become the Riviera Canal which then flows out to Cow Key Channel and then the Atlantic Ocean. CLICK GOOGLE AERIAL MAP for a view of the location and its proximity to the ocean.

The lot is located opposite a small mangrove on the south side. The Key West airport is located farther to the south. Most of the existing homes were built in the 1960s and later. A prime example of the style of house a new owner could build is actually in existence now and can be seen across the canal. This little enclave of new homes feature Hardiplank construction, wind impact windows and doors, and metal roofs - all features which reduce insurance costs. New construction also suggests lower maintenance costs for years to come. The difference between those houses and this location is the existing pool, seawall, and canal front location plus the ownership of a 5,600 square foot lot. Owning a big house on a big lot is an important feature to many homeowners. CLICK HERE to see more photos I took.

CLICK HERE to view the Key West MLS datasheet and then please call me to look at the lot or to discuss making a sight unseen offer. Gary Thomas, 305-766-2642, or garyethomas@aol.com. I am a buyers agent and a full time Realtor at Preferred Properties Key West.