208 Angela Street, Key West - A Renovation Project

 The road must eventually lead to the whole world.”
― Jack Kerouac, On the Road

When I first came to town I felt Key West was falling apart. I remember walking back to  the guest house at night. Big palmetto bugs fell from the huge trees landing on the cracked sidewalks. The bugs crunched under the soles of my shoes. It was creepy. The longer I stayed here the less I cared about the bugs and more about how down this place was. I figured out the derelict old houses would get fixed up and that sidewalks would get repaired. It turns out the country created an agency to deal with mosquitoes which also killed off many of the palmetto bugs. 

US 1 runs 2,369 miles from Fort Kent, Maine to Key West where it ends. The little house at 208 Angela Street in Key West is located just a couple hundred feet west of where US 1 ends. You can look at the road ending here or starting here. I prefer to view it as the end of the road. The place to getaway from the rest of the world. It takes a long time to get here. Good the distance keeps the thugs and suburban women from coming here. Key West in the year 2020 is totally different in so many respects than when I first came. But it is still a great little town out in the middle of the ocean.

When I first came to Key West Truman Annex did not exist. Thirty-five years later some people make it their permanent home while others rent out their properties. There are condos and town homes than single family residences. That development and its proximity to Duval has spurred growth in the Old Town area. The surrounding homes to the east and south are part of Bahama Village. This part of town has not been restored as quick as other parts of Old Town, but that is changing at a faster pace now. This particular home is very well located in my opinion.

208 Angela Street is now offered for sale at $599,000 and is described by the listing agent this way:

"You will be seduced by the charm of this conch style home tucked away on a quiet street alongside the vibrant neighborhood of Bahama Village. Brimming with lifestyle credentials, it's located a short distance to Truman Waterfront park, Fort Zachary State Park, dining, shopping, & nightlife of Duval Street. Open-air porch, coveted off-street brick parking, & mature trees make for easy, low maintenance living. Inside the home, the abundance of windows allow natural light to penetrate the living spaces and bedrooms while giving the house an open, airy feel. Both bedrooms have built-in storage, tall ceilings, and ceiling fans. This home's original condition is perfect for those wishing to create and design their own property or a flipping opportunity for those with an eye for remodeling."

 

I remember being inside this house several years ago. Angela Street at this location is more like living on a one-way lane. I consider that highly desirable feature. After all those owners across the street in Truman Annex bought the approximate same location for the same reasons I am espousing except that their homes are 30 years newer and some have transient rental licenses. While all units in Truman Annex have parking, some parking spaces are located far from the unit. And all tend to have weekly or monthly changes of neighbors.

The above diagram is from the Monroe County Property Appraiser website. It and the MLS show 208 Angela Street as having 924 Sq Ft of interior living space. The diagram show 440 Sq Ft is not being  included as living space. But it clearly is. 

The above photo shows the interior of the 440 Sq Ft which the Property Appraiser does not show as interior living space. That is appraiser fiction that enures to the benefit of the owner. CLICK HERE RIGHT NOW to view the MLS datasheet and photos for this listing. This house is in livable condition. It has been used as a long term annual rental for years. It could continue to be used that way or as a permanent home without doing anything substantial. 

Or, this home could be totally renovated. I believe renovation is the highest and best use of this property. The photos show there is no possibility of adding a pool. That will save you $35,000 or more. But there is plenty of room to create nice outdoor living area. There is bricked off street parking right in front of the house.

Consider the recent sale across the street at 225 Southard Street in Truman Annex. That 960 Sq Ft 2/2 town home sold in April 2020 for $825,000 (or $860 per sq ft) in just five days on the market. It was built in 1993 and was nicely but not recently renovated. I think $200,000 in renovation costs to 208 Angela Street could create a more desirable single family home free of home owner association rules , restrictions, and expenses. Not all buyers require a pool nor want the monthly electricity and pool boy expense. 

I think 208 Angela Street will sell immediately. If you are looking to buy a place in Key West, please give me, Gary Thomas a call at 305-766-2642 to schedule a showing. I am a buyers agent and a full time Realtor at Preferred Properties Key West.