The asking price on
714 Passover Lane, Key West was just reduced by $250,000. Now offered at
$1,249,000 you can buy your Key West dream project. It's a fixer, but not like the falling down kind in Bahama Village or the flat on the ground in New Town. And this property is located in the coveted
Old Town area near the Historic Key West Cemetery.
Buyers
looking for a fixer property should take a look at this architecturally
interesting three story home located on an irregular
6,547 sq ft lot in
the heart of Old Town. I dug into my old shoe box and found two photos
that show the house in 1965 and later in 1973 just as Key West was being
re-discovered by a generation of poets, authors, and artists of all
types.
The 1965 photo shows the sagging front porch and missing slats on the
east facing side. The house northwest toward Passover Lane.
Passover
Lane remains one of the few walking lanes in Key West. It is not wide
enough for a car. There are but four houses on this lane each of which has been updated and improved over the years
including 714 Passover which now has novelty
siding and wrap-around porches on the first and second floors and a roof-top deck on the third level.
I
recall having been inside this house years ago when I was an agent at
the former Prudential Knight Gardner Realty. At that time I saw this
place as a lot of work. I have watched house after house in Old Town get
renovated and made into something much better than before in most
instances. The property looks like so many of the houses before they
were renovated to new high-end standards. Now I really do appreciate the
potential this
house, lot, and location offer as perhaps a throw-back to less
programmed renovation and more of a return to basics kind of place.
A
separate stand alone cottage above adds both character and development
potential to this very large lot that is peppered with trees including a grand Royal Poinciana located on the
east facing Passover.
I
have never quite understood what the falling down structure on Passover
Lane is but its existence adds real value when it comes time to develop a
new site plan. Perhaps giving up this structure provides a new off
street parking space. The property is zoned HMDR and has three ROGO
units. I think the highest and best use would be as a nice single
family home with guest cottage, pool, and off street parking in a great location. See the aerial photo below.
CLICK HERE to view the Key West MLS datasheet on
714 Passover Lane, Key West, 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.
5 comments:
Ha ha ha. Fixer on Passover lane. The same properties you hawk in new town, mid town, and old town are described by your astute knowledge as “ground level, falling down, need of repair”. But, these same fixers are mostly marveled by you as glorious buying opportunities. Guess any description fits to make a buck. True hypocrite.
I always have called this house the tree house - because the upper deck reminds me of a Treehouse when viewed from Passover Lane/the cemetery
Gary, I don't know what put the burr under the saddle of the clown who posted the first comment. He shows up here from time to time to do one thing, trash YOU for reasons not apparent to me. Anyway, I admire the fact that you do not censor him. I don't believe in censorship either. But tell you what, NO ONE would blame you if you did! Great job, Sir. Please keep them coming!
Most second home owners want a nice house in a good location. You need to spend half a million just to get a lot and then more to renovate. A great location and a not so great of a house can become a great house at a great location. The new state law allowing homeowners to remove trees could open the lot for planed lot beautification. I suspect the property will eventually sell at a much lower price. If the buyer does it right, he should end up owning a remarkable house on a large lot. A crisp white fence and gated parking with choice tropical foliage could look just fabulous.
I love that old walking lane. If I had the money, I would buy that property in a heartbeat. It is one of the few walking lanes in Key West with a grand old conch house, room for a pool, a cottage and possibly even parking. I live not far from there and even in the high season there are always empty street parking spots there near the Cemetary. I agree with AG because that house looks like an old tree house and I personally think it would be a shame to cut down all of those old growth trees. I hope the new owner picks and chooses the landscaping wisely. I bet a writer could create an amazing writing studio out of that little cottage too.
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