The newly announced price reduction of
25 Sea Lore Lane on Shark Island Key is something for bargain shoppers to consider. Now the new price of
$899,000 is still outside the reach of many would be buyers, but it is bargain as far as I am concerned because of the size, price per square foot, and highly desired location of this once elegant home. I say once elegant for two simple reasons. First the house is now 22 years old and is a victim of the passage of time and the change in what is popular in kitchen and bath design and style. Second, the house is
Bank Owned and needs some sprucing up which I will discuss later.
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| Shark Key in 1997 before most of homes were built |
Shark Key is a small island which extends off US 1
into Florida Bay on the Gulf of Mexico side of the Florida Keys. Shark
Key is a gated community with 74 waterfront lots about half of which are
actually built. There is a large swimming lagoon, tennis courts, and
community center surrounded by lush tropical foliage, flowering trees,
and magnificent specimen palms. Most of the homes on this island
sanctuary are large villas compared to the small cigar maker cottages
and conch homes located about seven miles down the road in Key West. After passing the gated entrance the single lane roadway spits into two roads which pass on either side of a large lagoon. Sea Lore Lane is located on the east side of the lagoon. Click
GOOGLE MAP for an aerial perspective. Use the toggle switch to move around the area to view the other homes in the area. You will see the community center, tennis courts, and sandy swim beach located about six houses north of 25 Sea Lore Lane.
The listing Broker describes this
Bank Owned waterfront home this way:
"Wonderful location, facing the Easterly breezes in this unique and upscale
gated, waterfront community. Shark Key is a peninsula jotting out from US-Hi Way
1 into the Gulf of Mexico. Enjoy the gorgeous sunrises and romantic moon rises
with star filled nights from your private deck & heated pool. Tropical,
mature landscaping all around home provides privacy and pleasant views from
every window. For your vehicles there is a brick paved driveway, 3 car garage,
and plenty of additional off street parking. A spacious Clubhouse with kitchen,
tables & chairs and wide wrap around, covered decks facing the waterfront is
available to residents. Enjoy the covered picnic area by the Swimming Lagoon, it
is a beautiful setting. The two tennis courts are adjacent to Clubhouse. Shark
Key is located 11 miles from down town Key West, it's the best of two worlds, a
private island bursting with tropical landscaping, lagoon, beautiful waterfront
homes and a short drive to Key West."
I
had the opportunity to show this home to potential buyers soon after it was listed. While it did not meet their needs, it may be of interest to someone
reading this blog. The
3023 sq ft home is situated on a large
14,968 sq ft lot
over looking the open waters of Florida Bay. The house has
4 bedrooms
and three baths. The master bedroom is located on the first floor next
to the living area and shares part of the deck that looks out to open
water. The view is ever changing with the passage of time and weather fronts.
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| Front entry proceeds to the great room. Sliding doors open out to the covered deck. |
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| Pool views from the great room with open water to the rear |
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| Dining area located adjacent to the living area with kitchen in foreground |
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| Master suite located behind the mirrored wall |
The
great room, kitchen-dining area, and the master suite are all located
on the east side of the home where each area has great water viewing
opportunities. The deck traverses the entire back side of the home.
About half the deck is covered while the remaining spaces provide areas
for sunbathing or entertaining.
There
are three tiki huts on the grounds with two located near water's edge
and one in the front off the gated private entry. The tiki huts add to
the tropical allure of this home. I am confident this once grand home
can be easily be restored to its former self. The interiors will need
painted, the decks will need some sprucing up, and the landscaping will
need some judicious pruning. But when the work is done, the inside and
the outside will look just great.
This
is a really big house by Key West standards. It will provide a new
owner with four good sized bedrooms to meet the needs of a real family
with growing kids. The first floor guest room would make a great living
space for an older parent living with the family. That bedroom is
located above the two are garage and is set off by itself which provides
additional privacy. The kitchen is really large and will provide
abundant work space for food preparation and clean-up. The outdoor area
will give adults and children alternate places to enjoy their time
outside.
As
the listing broker pointed out, this is a gated community of exclusive
waterfront homes which share the usage of the private swimming lagoon,
tennis courts, and clubhouse. There is a key pad operated gated entry.
The beautiful private roadway is maintained by the home owner
association. The monthly hoa fees are $400 and cover common area
maintenance, security, and management.
CLICK HERE to view the Key West mls datasheet and listing photos of
25 Sea Lore Lane on Shark Key which is offered at just
$899,000. Other active listings on Shark Key run from $1,775,000 to $2,995,000. Then please call me,
Gary Thomas,
305-766-2642, to schedule a private showing of this bank owned home. I am a buyers agent and a full time Realtor at
Preferred Properties Key West. This truly is a buying opportunity.
