1800 Atlantic Condominium Penthouse Short Sale

The interior courtyard and gardens are a wonderful surprise!

Five years ago I was the listing agent that sold 1800 Atlantic Unit C-435. It sold for $950,000. I was saddened to see that it is now offered for sale as a Short Sale at the current asking price of $525,000. This is how the present listing agent describes this unit:

"Everything that you could want in Key West! Located on Smather's Beach, this purchase opportunity offers a fantastic view of the Atlantic Ocean from the top floor of one of the premier condo communities in Key West. What makes this property special is income potential from a full transient rental license, allowing for unlimited vacation rentals, that is included in the sale. This 2 BR & 2 BA, 1357 sq. ft. penthouse unit has seen substantial improvements with a spectacular custom kitchen. As a penthouse unit, the main living area and the guest bedroom feature vaulted ceilings. Community amenities include a beach side heated pool, hot tub, saunas, 3 lighted tennis courts, 24 hour security & covered parking in a tropical resort setting."

This unit is located on the top floor and is the fifth unit back from the Atlantic Ocean on the Smathers' Beach side of the complex. For those of you who like to have something interesting to watch, this is the view for you. The ceilings are vaulted and provide a dramatic relief to the normal ceiling heights on floors one, two, and three. The greater volume in the unit just makes it seem larger than it is, but it still is quite large-1357 sq ft to be exact.

The large newer kitchen has a small dining area plus a kitchen island with separate bar area. There is plenty of cabinet space and counter top food preparation area. The spacious living and dining area are combined. Both bedrooms are quite large and the master bath is extra large. The living room and each bedroom have direct access to the extra large balcony that runs the length of the unit. Imagine having breakfast and dining watching the Key West early morning skies and sunsets from your penthouse deck.

Each unit has covered under-building parking plus a separate storage area. One of the two building elevators is located just steps away from this unit so it will be easy for you and your guests to transport bags, groceries, and cocktail makings with ease.

1800 Atlantic Condominium Unit C 435 is offered at the asking price of $550,000 or $387 per sq ft. Remember this unit has a valuable transient license which means you can rent it nightly every day of the year. CLICK HERE to read more information about this listing and to view more photos.

If you would like to see this unit or any other property offered for sale in Key West please call me, Gary Thomas, 305-766-2642 or email me at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc, in Key West, Florida. Let me help you find your place in Paradise.

1800 Atlantic Condominiums - Penthouse Units - Key West

1800 Atlantic Condominiums - Unit A 403 is the top floor mangrove side Penthouse

1800 Atlantic Condominiums interior courtyard

The seller of Unit A-403 at 1800 Atlantic Condominiums just reduced the asking price on this extra large Penthouse unit to just $664,000 or $460 per square foot. CLICK HERE I think the price, location, view, and fact that this property has a valuable Transient Rental License may be just the property a buyer seeking an income producing property may find interesting. This is how the listing Realtor describes Unit A-403:

"Spectacular Oceanview Penthouse. Located at 1800 Atlantic Condominiums on Smather's Beach, this resort style setting is loaded with amenities & considered one of the premier condo complexes in Key West. As a penthouse unit, the condo features large volume rooms with vaulted ceilings. A valuable transient rental license is included in the sale, allowing nightly/weekly vacation rentals. Completely furnished, you're ready to catch the income from the peak winter rental season. Originally a 2 BR & 2 BA model, the floor plan has been modified to present a huge main living area to capture the ocean view. 1800 Atlantic offers a heated pool, hot tub, grilling pavilions, covered parking & 24 hour security all in a private tropical oasis."

I did a quick search of THREE penthouse units currently available at 1800 Atlantic Condominiums. CLICK HERE to do your own price and feature comparison. I have not been inside of this particular unit, but I can tell from the photos that it looks like it has the original kitchen as when constructed. The two other penthouse units appear to have granite counter tops and newer cabinets. But with they are priced much higher in real dollars and in price per sq ft. Neither unit has transient rental license either. I guess you could spend a few thousand bucks for some new cabinets and granite counter tops if that would make you feel better.

I did a separate search of other all "active" and "active short sale units". CLICK HERE to checkout the other properties and do a comparison of those units. Certainly Unit A-403 is offered at a higher price point than many other units, but I urge potential buyers to consider the top floor ocean front location, the extra large size, the valuable transient license when you make your comparison between apples and oranges.

Although each unit is different in some aspects, all of the units at 1800 Atlantic Condominiums have use of the huge Olympic swimming pool, an extra large spa, three tennis courts, beautiful interior courtyard, covered off-street parking plus individual owner storage space.

If you would like to schedule a visit to see any of the units at 1800 Atlantic Condominiums, or any other property in Key West, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc.

1800 Atlantic Condominiums - Key West

Smathers Beach - Key West

If you lived at 1800 Atlantic you could walk your dog or jog by this beach every day for eternity and still never get over the beauty of the Atlantic Ocean and Smathers Beach.

A couple of weeks ago I started to write a blog about a new listing at 1800 Atlantic that I thought was just incredible. I got distracted by real deals I was working on and did not finish the entry. It was priced at $1,235,000 and had a captivating direct ocean view. It went under contract within within three weeks of being listed. CLICK HERE to see what got away. Two other units (one offered at $579,000 and the other priced at $329,000) went under contract since mid January. It makes me wonder if we are at the start of another rush to buy at 1800 Atlantic just like the one that took over the Key West Golf Course late last summer. For a while there was an abundance of units at the Golf Course. Now there are nearly none.

CLICK HERE to checkout the twelve remaining units at 1800 Atlantic Condominiums. The aerial photo below shows the property and its proximity to the water. Every unit has a water view. Some have better views than others. The condominiums were built in 1987 and many have been remodeled. While most have the same square footage, each will be somewhat different than the others. Many of the units have Transient Rental Licenses which permit the owner to rent the unit on a daily basis. (Most are rented weekly, however.) Units without a transient license can rented as vacation rentals (monthly-once per month). Some of the units are offered fully furnished. None of the units I have included are short sales. Read the listing comments to make careful comparisons.



1800 Atlantic has its own private beach, but I must admit you would probably prefer to swim in the huge pool or take a dip in the giant spa. There are three tennis courts, a hidden and surprisingly beautiful interior courtyard, and covered parking with additional storage. Oh, Smathers Beach is located directly across the street from 1800 Atlantic.


If you would like to see any of the remaining condos at 1800 Atlantic, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. These units are very popular and tend to stay rented continually through season. Advance notice is required to see any unit and some properties may not be available even with advance notice as some owners do not want to disturb their paying guests.

1800 Atlantic Condominiums - Key West

It's time to update the properties available for purchase at 1800 Atlantic Condominiums. I divided the units between those with valuable Transient Rental Licenses and those without. Units that have a Transient Rental License can be rented daily every day of the year to a different renter each day-just like a hotel room. Units without such a license may be rented on a monthly basis but may only be rented once each month.

There are a total of 13 units currently available for purchase at 1800 Atlantic Condominiums in Key West. The aerial photo above together with the photos of the pool and gardens ought to entice you to consider this oceanfront resort type property as a potential second home purchase. In addition to that fabulous Olympic sized pool and spa are the beach, three private tennis courts, garage parking, on sight property management, and 24 hour security. 1800 Atlantic is close to the Key West International Airport, Smathers Beach, and three shopping centers. It is quick jog down to Duval Street and all the craziness. The proximity to Duval Street (or maybe lack thereof) is one reason returning vacationers opt to stay at 1800 Atlantic year after year. It is close to everything, but it is a destination unto itself.

Smathers Beach (below photo) is located about 60 seconds west of 1800 Atlantic Condominiums. At Smathers Beach you and your friends can play volleyball, participate in all kinds of water sports, or just work on that killer tan. But remember 1800 Atlantic has its own private beach-but the action is down at Smathers Beach.

There are four other important factors to note. Each factor may influence pricing and value. (1) Location. Look at the aerial photo again. Note that the road to and from the airport (Bertha Street a/k/a South Roosevelt Blvd.) runs adjacent to Building "C". Most units that front Bertha Street are priced a little less expensively than other locations. Units that have the best views are usually priced higher. Units on the top floor have vaulted ceilings so they may seem larger. (2) Condition. Some units are "virgin" and look the same today as when they were built over 20 years ago. Others have been remodeled. Some have been tastefully redone. And some less so. Some units may be cheaper than others but may need a little tlc. (3) Transient License. The existence of a Transient License does not in itself mean you will make money right away. Some units have dormant licenses that the owners maintain to preserve the license, but the units have not been rented. Buying a unit with a successful rental history however might make more sense than buying a unit without such a history. Most transient licensed units are offered "furnished". Many are "turn key". Read the mls listing info. (4) Size. Most units are 1357 sq feet in size. Some units are larger. Make sure when you compare the units that you are comparing like kind units. Think of it this way: if you were looking at purchasing a twenty year old Mercedes would you want the cheapest car or would you consider the paint (body) job, the odometer, the engine, and the tires to help determine the better value?

CLICK HERE to look at the units with Transient Rental Licenses. There are seven such units and they are collectively priced at $455 per sq ft. Again, compare location, condition, and size. Unit A 403 is a penthouse unit located directly on the Atlantic Ocean. It is larger than the other units; it has a dead-on view of the water; it is being sold subject to probate court approval. Look carefully at the photos of Unit A 403.

CLICK HERE to look at the six units without transient licenses. You would expect the average price per sq ft to be lower (at least I would), since Transient Licensed units have traditionally been priced about $50,000 higher than units without such a license. At any rate, these units are price on average at $462 per sq ft. Check them out as well. Not everyone wants someone else's head in their bed to help make a mortgage payment.

If you are looking for a second home in Key West and think a condominium might work for you, please call me, Gary Thomas, 305-766-2642 to arrange a showing at 1800 Atlantic. Or send me an email at kw1101v@aol.com.

1800 Atlantic Condominiums - Key West Florida

There are a total of 14 units available for purchase at 1800 Atlantic Condominiums in Key West. The aerial photo above together with the photos of the pool and gardens ought to entice you to consider this oceanfront resort type property as a potential second home purchase. In addition to that fabulous Olympic sized pool and spa are the beach, three private tennis courts, garage parking, on sight property management, and 24 hour security. 1800 Atlantic is close to the Key West International Airport, Smathers Beach, and three shopping centers. It is quick jot down to Duval Street and all the craziness.

Smathers Beach is located about 60 seconds west of 1800 Atlantic. CLICK HERE, CLICK HERE, and CLICK HERE to see why it is so popular. At Smathers you and your friends can play volleyball, participate in all kinds of water sports, or just work on that killer tan.

CLICK HERE to checkout the two (only two remain) SHORT SALE units. However, there are 12 other units still available. CLICK HERE to view the remaining 12units. It is really important to read the listing Realtors comments. Many of these units have TRANSIENT RENTAL LICENSES which means you can rent the unit on a daily basis, everyday, for 365 days per year. Some units may be rented as VACATION RENTALS which is different. The City of Key West allows owners to rent a unit one time per month for up to days to one vacationer. The renter can stay one day, one week, or all month. But the unit can only be rented one time during that month. So having a Transient Rental License might make your rental of a unit more profitable than having a unit that only permits use as a vacation rental.

There are three other important factors to note. Each factor may influence pricing and value. (1) Location. Look at the aerial photo again. Note that the road to and from the airport (Bertha Street a/k/a South Roosevelt Blvd.) runs adjacent to Building "C". Most units that front Bertha Street are priced a little less expensively than other locations. Units that have the best views are usually priced higher. Units on the top floor have vaulted ceilings so they may seem larger. (2) Remodeled. Some units are "virgin" and look the same today as when they were built over 20 years ago. Others have been remodeled. Some have been tastefully redone. And some less so. (3) Transient License. The existence of a Transient License does not in itself me you will make money right away. Some units have dormant licenses that the owners maintain to preserve the license, but have not used. If you want to make money, you need to consider buying a unit that has a rental history. Please note that most units are 1357 sq feet in size. However, a few units are larger. So compare size, because size matters in real estate just as it does in real life.

Only two units have actually sold and closed at 1800 Atlantic as of today. CLICK HERE to see those units. But there are three units under contract right now. The number of available units is pretty large. There may be some sellers getting a little anxious to sell what with the dog days of summer and potential storms heading this way.

If you are thinking of buying a second home in Key West and want to have it help pay for itself, please consider using me, Gary Thomas, to be your Realtor. I am a full time Realtor at Preferred Properties in Key West. You can reach me at 305-766-2642 or by e-mail at kw1101v@aol.com.