Readers up north may not appreciate how expensive it has become to live down here in Key West. Key West used to be a bargain. But popularity of our island paradise has caused housing costs to rise far greater than wages for most full time residents. Finding a place where you would actually like to live and can also afford is often difficult As a result many people must rent or share their living space - often with people they barely know. Or maybe they decide to rent a place with a person they know, but learn to despise because of their roommate's habits. A few years ago I took the photo below of an actual rental in Old Town. The tenants had to use the bathtub as the place they cleaned their dishes. I kid you not.
The new Preferred Properties Key West listing at the
Santa Clara Condominiums is an affordably priced alternative to roommate living. And after Hurricane Irma the place may become more desirable than before simply because of the existence of such an affordable unit.
The listing broker describes
3312 Northside Drive Unit 401,
Key West this way:
"Affordable
Key West living. This large studio apartment at Santa Clara has a full
kitchen, living room and full bath plus an alcove. The balcony looks out
over the tennis courts and pool side of the property. Santa Clara is a
secure building which had recent upgrades and is well maintained. There
is ample parking, a gated entrance and beautiful amenities including the
large pool and two tennis courts. Very convenient location in Key West.
Pets are not allowed at Santa Clara. This is a great value."
The asking price on this 408 square foot unit is just $195,000. The monthly condo fees are $358 which cover building maintenance and insurance, pool and common area maintenance, and sewer. This is a large condominium development which is professionally managed. A qualified new buyer may get 90% financing and could potentially own this place for a price cheaper than paying rent. I found several loan products of $800 +/- per month. Real property taxes will be about 1% of purchase price or $1950.00 per year. That would equate to a total monthly payment of $1320. I urge readers to checkout monthly rentals in the Key West Citizen or Craigslist. Compare the price and consider the possibility of owning a place without sharing space with a roommate. I have not been inside this unit myself (yet) but I am familiar with the building.
If you work in the hospitality business or at the hospital, you can ride a bus or ride your scooter to work. You can be almost anywhere in about 15 minutes any either means of transportation. The building has a large pool and tennis courts. You can actually layout by your own pool, get some rays, relax and enjoy your life in Key West and not have a second job (or third job).
Alternatively, if you are simply looking for a Key West getaway place that won't break your bank account, this property may be the one you have been hoping to find. Too many buyers think that being near Duval Street is the answer to all their needs. Houses and condos across the island get to share the same sunshine and great weather.
CLICK HERE to view the Key West MLS datasheet on 3312 Northside Drive #401, Key West, Florida. Then please call me, Gary Thomas, 306-766-2642, to set up a private showing. I am a buyers agent and a full time Realtor at Preferred Properties Key West.
