The asking price on
916 Seminary Street,
Key West, just got a lot better. It has now been reduced to $1,100,000. The original house was built in 1947. The house was updated and expanded and later a pool added. Today the existing house house has 1471 square feet of living space under air conditioning and sits on an irregular 60' X 92' or 4997 sq ft lot in the Casa Marina Area of Key West.
I won't bore you with a lot of hyperbole about this place. I recently showed it. It's still a lot of money for what currently exists. I suggested several things I would do to improve the property including taking down the existing second floor addition which just does not work well. The lot measures 60 feet wide on much of the lot. I think a new owner could expand the house to the east and recapture the living area by taking down the existing second floor. Or tear out all existing interiors and add a full second floor. Or better yet tear down this building and build a new house. The property values in this area will support a purchase somewhere in the current asking price.
The Casa Marina Area is one of the most highly desired parts of town. Several houses located within 150 feet of this house have sold in the two million dollar range within the last couple of years. Putting additional money into this house makes good long term economic sense. Tearing down and building all new makes more sense than renovation. But I am not the buyer nor the guy who pays.
The Casa Marina Resort, Salute on the Beach, Higg's Beach and Rest Beach are just a five to seven minute walk to the south.
CLICK HERE to view the Key West MLS datasheet. Then please call me.
Gary Thomas,
305-766-2642, to schedule a private showing. I am a buyers agent and a full time Realtor at
Preferred Properties Key West. I live in this area and love it. Let me show you my neighborhood. I think you will then understand the lure of living near the beaches, away from the to-do on Duval, and being able to go just about any place in Key West within a matter of minutes.
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