1601 White Street - Key West - Price Reduction

Preferred Properties Key West (that's where I work but this is not my listing) just announced a price reduction on 1601 White Street, Key West, Florida from $835,000 to $795,000). What's more, the owner had the interiors repainted so that the home would show off its true potential.

The 1568 sq ft two story house sits on an 8750 sq ft lot (70' wide x 125' deep) at the corner of Johnson Street at White Street - just one block from the Atlantic Ocean. A large fenced City Park is located directly across the street. The house sits quite high on the property and is located toward the north side of the lot. There is bricked off street parking for at least two cars. The lot is extensively landscaped and provides privacy from both White Street and Johnson Street. Yet you can sit on the large front porch and watch people as they walk the dog, jog, or ride a bike. At night you can walk down to the White Street pier to watch sunset. Maybe you might stroll down to the pier to do some night time fishing - I have.  There is an almost endless parade from early morning until sunset  and later when all quiet breaks out.

The listing Realtor describes 1601 White Street this way:

"Come take a second look at this terrific 3 bedroom 2.5 bath house is situated on an exceptional corner lot, just a few blocks to the Atlantic Ocean. The house has great bones... just needs some updating... Owners just recently painted the entire interior, installed new flooring, and will continue to make improvements until the house sells. The lot has beautiful native landscaping that is easy to maintain. The swimming pool with expansive decking and outdoor shower are all elevated. The house has many great qualities... central air, lots of windows, plenty of storage, and a unique floor plan. Other features include off-street parking, privacy/security fencing and a lot with room to grow."

The main floor is divided into conventional rooms with the living area on one side, a formal dining area up front on the other side and the kitchen at the rear with a breakfast bar in the middle.  A set of stairs leads to the second level where the master bedroom and en-suite bath occupy the south side and two guest rooms with a shared bath are located on the opposite side.

I personally think the master bedroom is dated. But the good thing is that there is so much room that a new owner could revamp the space and update the bath without breaking the budget.  The same goes for the two guest bedrooms. The spaces work find but could be tweaked just a bit to make the spaces just a bit more appealing.

The freshly painted interiors will give the new owners time to live in the property and figure out what they really like and what they would like to change to make the spaces function to fit the new owners' lifestyle.  I tell buyers to do this before they start a major renovation. Most do what they want anyway. I understand the urge to splurge but it is not always necessary.

I think the rear of the existing house is under utilized and could be expanded without spending too much money. I think the kitchen could be expanded to include what is now a covered rear porch. I would add more space to the master bedroom for bedroom area (or add a second floor deck overlooking the pool).  I would definitely expand the second floor bedroom at the rear which could then permit enlarging both bedrooms a bit. That might create enough space for each bedroom to have a private bath.

The back yard and side yard are huge and provide ample ground for expanding the main house or adding a guest cottage at the rear. A couple of colleagues have suggested tearing down the house and pool and rebuilding all new - not because what exists is bad but because the space is so large and so well located that the land value itself makes such a project thinkable.  CLICK HERE to view more photos I took of this property.

Whether a new owner does some remodeling or keeps this property the way it is, I think 1601 White Street could make a great vacation rental.  The house is located one block from the Atlantic Ocean and the White Street beaches. 

The new price on 1601 White Street is $795,000.  CLICK HERE to view the Key West mls datasheet and to view listing photos. After you have done that, please call me, Gary Thomas, 305-766-2642 to schedule a showing of this property.  I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise. 

1601 White Street - Near Waters Edge - Key West

Preferred Properties Coastal Realty, Inc. just listed (that's where I work but this is not my listing) 1601 White Street which is located near waters edge in the Casa Marina Area of Key West.  This house was previously occupied by a renter who in my opinion made showings very difficult. Now the property is vacant and may be seen with relative ease.  Let me share with you why I think this is a great value for someone looking to do a little fixing-up.

1601 White Street was built new (not remodeled) in 1988.  It has many of the features that were current then including kitchen cabinets, appliances, bath fixtures, window treatments, etc.  It's funny how quickly styles change and become passe in twenty five years. But they do. What has not changed, however, is the great location.  This property is located adjacent to 1617 White Street which I have previously blogged CLICK HERE.  I have written about other nearby neighbors on nearby Casa Marina Court and Johnson Street where the property prices are much more expensive.  I mention these properties because I believe 1601 White Street as being the least expensive property in the area which ought to mean it has the potential for significant price appreciation in the future.

The 1568 sq ft two story house sits on an 8750 sq ft lot (70' wide x 125' deep) at the corner of Johnson Street at White Street - just one block from the Atlantic Ocean. A large fenced City Park is located directly across the street.  There are muted ocean views of the ocean from the second floor.  I would describe the house as being a modern re-interpretation of an eyebrow house one might see in Old Town. Or maybe it's just a late 1980's salt box. The house sits quite high on the property and is located toward the north side of the lot. There is bricked off street parking for at least two cars. The lot is extensively landscaped and provides privacy from both White Street and Johnson Street. Yet you can sit on the large front porch and watch people as they walk the dog, jog, or ride a bike. At night you can walk down to the White Street pier to watch sunset. Maybe you might stroll down to the pier to do some night time fishing - I have.  There is an almost endless parade from early morning until sunset  and later when all quiet breaks out.

The inside of the house would benefit from a remodel. I think the existing floor plan is okay at best. The house has a 'formal entry' that leads to the center of the house. The living room is on the left. It has French doors that lookout to the pool. The formal dining room is located in a boxed-in room at the front right. The kitchen is at the left rear. In my opinion the spaces are a bit too formal and too confining for a Key West lifestyle. A couple of walls need to come down and areas need to be opened so that this house becomes the beach house it ought to be. 

Upstairs there are two modest sized guest bedrooms that share a common bath which is typical of fixtures used a quarter of a century ago. The bathroom is dated and blah. The master bedroom has an odd sized sitting area with views of the park and muted views of the ocean. The en-suite bath is also in need a re-vamp. A reworking of the space layout and the introduction of 21st Century light and bath fixtures could make this master suite into something far more interesting than presently exists. 

Too many lots, especially in Old Town, have tiny back yards and tiny pools and small decks. If you appreciate big decks and big pools like I do, then you will appreciate the big deck here and the large pool with waterfall. 

This property has an adjacent unused huge rear yard located behind the pool. That space measures about 70' x 25'. I think a new owner could add a decent sized guest cottage in this location which would add significant value. The addition of a fourth bedroom and bath would give guests some isolation from the main house. When not used by guests, the space might be used as a writer's workshop or artist's studio.  Since the main house is newer construction, and is not located in HARC, I think a new owner could be quite creative in adding new living space. A 'serious' renovator might even consider blowing out the back end of the main house and redoing both first and second floors and expand the living spaces. If I were going to do a renovation to this house, that is exactly what I would do.

I think 1601 White Street has the potential of being a great vacation rental property when renovations are completed. The existing house and pool, the extra large lot with lush tropical foliage , expansive parking, and location near Higg's Beach and the Atlantic Ocean make it a sure winner. A crisp and clean update would make it more attractive. The addition of a guest cottage and some really creative changes could make the entire property sizzle. CLICK HERE to view the Key West mls datasheet on 1601 White Street. This property is offered at $835,000.

Higg's Beach playground

Higg's Beach at Sunset

I took more photos of this property which you can see if you CLICK HERE. But better than that, please call me, Gary Thomas, 305-766-2642 to schedule a private showing of this unique property. I am a buyers agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.  Someone is going to buy this property now that it actually can be seen.  Let's take a look together.