62 Front Street, Key West - Commanding Truman Annex Property

The 600 block of Fleming Street in Key West during the 1920s

Front Street in the Truman Annex, Key West in the 2010s

The two photos above show how much Key West has changed in the past 100 years and how much things remain the same. Last week I wrote a blog about the big house at 923 Fleming Street where I remarked about notation on an early Sanborn Fire Map that Fleming Street was bricked. That remark was noteworthy because many streets back then were dirt. Bricked streets signified that the houses belonged to the wealthy. Followers of my blog know that the houses on Fleming Street today are still among the most expensive in Key West. The color photo above shows Front Street in the Truman Annex addition to Key West which was developed in the early 1990s. Most of single family homes located on Front and Emma Streets are owned by the wealthy as well.

The new listing at 62 Front Street, Key West is a modern day Eyebrow House with widow's walk.. This 2486 sq ft home was built in 1998 and varies greatly from the historic eyebrow houses built more than a century earlier in that the living spaces on the main floor wide and open and the bedrooms on the second floor are quite large as compared to the bedrooms found in historic homes. The house has a commanding presence on this street on this street of fancy homes. The listing Realtor describes this property this way:

"Located in the Key West Truman Annex is a very prominent Eyebrow home,custom built in 1998 for the President of the company that developed the Truman Annex. A large front porch allows you to enjoy the beautiful manicured landscaping of the Truman Annex. Opening the front door to this 4 bedroom 3 bath home, you are mesmerized by the size of the open floor plan and soaring ceiling heights and light. The Kitchen has custom cabinetry with granite counter tops with access to the outside living and pool area. On the main level is a full bath and bedroom adjacent to the living room with French Doors leading to the covered deck and pool. A custom staircase leads to 3 bedrooms and 2 baths with oversize closets. Another highlight is 2 covered Parking spaces. Transient License."

Two sets of French doors with clerestory windows above open out to the covered deck pool beyond which are two separate carports

For some reason that I do not fully understand, a lot of potential buyers want to buy a house that they may rent for income when they are not using it. I understand the idea and have written about the ability to do it. What I don't really understand is why someone who can afford a house as expensive as this would want to rent it. But if you do, you may, as this house has a valuable Truman Annex Transient Rental License which permits an owner to rent the property for 25 weeks each year plus as many 30 day months as one wants. Remember this house has four bedrooms and three baths, a sunny pool, off street parking, as is within easy walking distance to Ft Zachary Taylor Beach and the dining and entertainment on nearby Duval Streets. Renters will love it!

CLICK HERE to view the Key West MLS datasheet and listing photos on 62 Front Street, Key West which is offered for sale at $3,570,000. 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.

206 - 4 Southard Street, Key West - Transient Licensed Shipyard Condominium

Just Listed, but not by me, 206 - 4 Southard Street, Key West. The listing broker describes this extra large two bedroom Shipyard Condominium this way:

"This updated Shipyard condo offers a fantastic investment potential with its Truman Annex special transient rental license. Perfectly located near the community pool, with tropical treetop views, flooded with natural light, updated kitchen & bathroom, and two balconies. The unit is offered fully turnkey and ready to rent. Walk to the beach, Duval St., the Southernmost Point and Hemingway's House."

Returning guests to Key West know the location very well. The gated entrance is located just two short blocks west of Duval Street.  And in the not too distant future, the location will also be know as being near the new Truman Waterfront Park. (More on that later in the blog.) The map below shows the location of this unit just a few feet to the east of the community pool. The map also shows the designated parking space is feet from the front door.

This second floor unit has a front balcony which overlooks the parking lot and a rear balcony with a view of the Shipyard community swimming pool. If you become the owner of this unit and decide to rent it, you will soon learn the value of this location.  There are around 176 units in Shipyard. Some are located near the pool and some are located a hefty hike. Some are located near the one designated parking space while others are located another hefty hike. While most vacationers don't cook a lot of meals, they do buy some groceries and probably some liquid refreshments.

In preparing this unit for sale, the interiors were updated with new furnishings. The place sparkles. I moved to Key West just about the time the last of the Shipyard units were being completed. They were built in phases and not all units are alike. This unit has 680 square feet of living space. Some units are 520 to 580 sq ft. That's a lot of space not to have. And that extra space ought to translate into repeat business year after year.

I walked from this unit over to the new gated entrance to the Truman Waterfront Park still under construction. The place looks great. The photo just above is the direct route over to Ft Zachary Taylor State Park and Beach.  Guests will love being able to walk to the beach or maybe attend a concert at the new amphitheater.  All the restaurants, bars, and shops on Duval Street are a five minute walk in the opposite direction.

CLICK HERE to view the Key West MLS datasheet for 206 - 4 Southard Street which is offered fully furnished at $619,000. (Compare that to other units where the seller wants to negotiate the price of their used furniture, towels, and pots and pans.  The price you pay is the actual price you pay and nothing more. Then please call me, Gary Thomas, 305-766-2642, to set up a private showing. I am a buyers agent and a full time Realtor at Preferred Properties Key West.

210-2 Southard Street, Key West - Transient Licensed Shipyard Condo in the Truman Annex

 

Just listed by Preferred Properties, that's where I work but this is not my listing, 210-2 Southard Street in the Shipyard Condominiums at Truman Annex. Truman Annex is located just two blocks from historic Duval Street and all of the attractions that make Key West a world class destination. This is a unique one bedroom unit with a valuable Truman Annex Transient License which permits 25 weekly rentals throughout the year. The unit may also be rented monthly or used by the owner or the owner's family throughout the year.

The listing Realtor describes the new listing this way:

"This bright and breezy second floor Shipyard unit has a spacious rear deck, assigned parking and a special Truman Annex transient license. The management company calls this unit Treetops because of the lovely poinciana trees front and rear. This unit is being sold turn-key with attractive tropical furnishings and assumable advance bookings."

If you have been watching Key West real estate sales for the past few years and are waiting for a price dip to get the house you didn't get when prices were lower, don't hold your breath. A dip might occur, but if it does it probably won't last long and when the market returns, there will be slew of buyers chomping at the bit to buy what they should have bought before prices increased after the 2008 market down turn. For the past several years those same type of buyers have gobbled up Shipyard Condos because renters favor this development over just about any place in town. Read about why in the next paragraph. I did a quick search to determine the number of sales since 2013 and the price paid on a per square foot basis for each year. Numbers speak louder than words.

YEAR     NUMBER UNITS SOLD     PRICE PER SQ FT
2013        5                                             $666
2014        9                                             $741
2015        13                                           $857 
2016        7                                             $862

There are now only four units available in the Shipyard which are priced on an average price per sq ft of $895.  As you link at the mls link below consider what is included in this unit that is not often included in most other Shipyard listings by the company that sells most of the Shipyard units: furnishings and advance bookings. Most sellers make buyers pay for the furnishings and require a buyer to take over the bookings with a specific property management company to get them. They are offered in this listing without qualification.

Returning visitors to Key West love the location, comfort, and security that Truman Annex provides. Guest who stay in this unit will especially love this location because it's hard to get lost when the place you are staying is located about 100 feet west of the gated parking entry and next to a park-like space between the next row of condos. People do get lost, especially people who have had the extra cocktail. The location itself is within walking distance to Ft Zach Taylor State Park and Beach.  The pool is only a minute or so walk, but I'll bet you more guests will head off to the beach to enjoy the sun and ocean.  At night the Green Parrot and other nearby establishments provide music, food, and cocktails.  During season the Waterfront Playhouse at Mallory Square and the Red Barn Theater offer live performances that feature many local talents. Day or night, there's always something to do and whatever it is, it is within easy walking distance of Truman Annex. Duval Street is two blocks to the east. Sunset Celebration is held nightly - just a five minute walk to the north through the ever beautiful Emma Street in the Truman Annex.

CLICK HERE  to view the Key West mls datasheet and listing photos.  Better than that, please call me, Gary Thomas, 305-766-2642 to set up a showing of this unit.  I am a buyers agent and a full time Realtor at Preferred Properties Key West.