1105 Olivia Street - Old Town - Key West

1105 Olivia Street - Key West, Florida in 1965

 Just listed by Preferred Properties Key West, that's where I work but this is not my listing, 1105 Olivia Street in Old Town Key West.  When I saw this new listing I knew I had to do some early morning snooping to see what I could learn about this property which is located a little over one-half block east of the Key West cemetery and one block north of Truman Avenue in the southeast quadrant of Old Town.  I dug deep into the proverbial old shoebox and found the photo above which was taken back in 1965 when 1105 Olivia Street was FERNANDEZ CLEANERS.  If you look just beyond the square facade you see the outline of the simple cigar maker cottage that pre-dates the commercial use.  I then went to the Sanborn Map of 1889 and found the house abutting the city sidewalk. That review satisfied me to that this old house was built before 1889.

I took the above photo this morning to show how 1105 Olivia Street looks in 2013.  The house itself has been updated over the years, but I suspect that a new owner may do a new renovation of this old house. I am mindful that the 623 sq ft home has only one bedroom, but it does have a great Old Town location and it has the potential to convert an existing cistern into a dip pool. That, Dear Readers, makes this new listing worthy of your consideration.

The listing Realtor describes this property this way:

"Old Town sleeper. Behind the gated entrance is a one bedroom one bath cottage with a private rear courtyard. High ceilings in the living/dining room along with a wall of windows provides light and tropical ambiance. There is an eat-in kitchen, renovated bath and good-size bedroom. A little renovation will produce an Old Town Jewel!"

Living room looks out to what might be the pool area

Update this kitchen

Convert the concrete cistern into a dip pool

The 1889 Sanborn Map shows the house located right on the City property line with a very large rear yard. The current Property Appraiser map shows the lot at 20' x 55'. The house itself is 40 feet in length which leaves 15 feet for the creation of a small pool. A new owner would probably need to convert the old cistern into a dip pool as building code would limit new construction. I do believe code would permit the conversion but a new buyer would need to verify this before relying on what I "believe" to be permissible.

Most of the cottages and larger homes in the immediate neighborhood have been updated. Some of the properties have small pools but most do not have off street parking. You must remember that this area (once referred to as Pohalski Village) was mostly cigar maker cottages on situated on small lots. That has not changed in the decades since the houses were built. Back in the old days the residents walked to work and to neighborhood stores.

In today's more modern world off street parking is very limited in this area. Most owners park their cars on the street.  Most of the residences in this area are single family homes. There is commercial activity up on Truman Avenue one block to the south.  There is little to no "spill over" of parking from those businesses into this neighborhood.

This is the area where you will find most of the local gyms and yoga salons. And Duval Street is only a five to seven minute walk.  The Historic Key West Seaport is also located within a short walk to the north. I like to point out that you don't have to have a pool in your backyard to enjoy a pool.  Dante's is located at the Seaport. Locals go there on a regular basis to lounge by the pool. They usually buy some burgers and booze, but that is less expensive than paying the cost of operating a pool everyday of the year and paying for pool maintenance. 

CLICK HERE to view the Key West Association of Realtors mls datasheet to view the particulars on 1105 Olivia Street which is offered at $439,000.  If you would like to see 1105 Olivia Street or any other listing in Key West please contact me, Gary Thomas, 305-766-2642 to schedule a showing. I am a buyers agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.

Seascape Tropical Inn - Guest House - Key West

Preferred Properties Coastal Realty, Inc. (that's where I work but this is not my listing) just listed the ever-so-cute Seascape Tropical Inn. Seascape is located at 420 Olivia Street - about 100 feet from Duval Street and it's famous neighbor to the west is the Ernest Hemingway House. Seascape Tropical Inn was praised by the New York Times and named the "Best Value of all Key West Bed & Breakfasts" by Florida Keys Magazine.

The new pool is easily accessible from all rooms

Breakfast in the morning and complimentary cocktails in the early evening

Sunworshiper's paradise on most days

All seven guest rooms have private baths and each room has been updated to provide top quality lodging including A/C, refrigerator, cable TV, and wireless Internet service. The beautiful pool is easily accessible by all rooms. (And it meets all current State of Florida health requirements which will save a new owner from huge expenses.) The current owners have upgraded all rooms and have increased year round occupancy from 72% in 2009 to 88% in 2011. This is a great opportunity for a prospective guest house purchaser in Key West.

Each room is unique

I used to town the former Eaton Lodge Guest House at 511 Eaton Street. I know from experience the value of owning a guest house that is located near Duval Street and the importance tourists place on proximity to nearby attractions. Once guests are settled in their rooms, they know they can walk out the front door and be anyplace they want to be within a few minutes walk. South Beach is a couple of blocks to the south, great restaurants can be found on Duval or any number of the intersecting streets, bars of all sizes and for all sorts are located everywhere. The Waterfront Playhouse and Red Barn Theatre are a ten minute walk north on Duval Street. Sunset at Mallory Square or fishing trips from the Historic Seaport are all within easy walking distance.

Pretty as a picture - and near everything important

CLICK HERE to view the Key West mls datasheet on Seascape Tropical Inn that is offered at $2,250,000. Contact me for detailed information and more photos by sending an email request to me at kw1101v@aol.com.

Reception Parking - not many guest houses have this!

I consider my experience as a guest house owner in Key West to be a valuable asset in helping a potential purchaser find and buy the right guest house. Please call me, Gary Thomas, 305-766-2642 if you would like to schedule a visit to see Seascape or any other guest house. Viewing any guest house is difficult because owners do not want to disturb guests. It is important that we schedule appointments in advance. I am a buyers agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.

Non-Bargain Properties in Key West

405 Frances Street before Renovation

405 Frances Street nearly completed in May 2011

I sometimes get emails from Readers asking about "low priced" properties that I have never written about. They ask me what I think. I usually reply with some awful story about the property. Many potential buyers often equate low price with value. They are mistaken.

Low Price and Value are not synonymous-especially in a place like Key West where asking prices are typically higher on a per square foot basis than most locations in the United States.

While I was away a property I have showed a few times had a price reduction. Under normal circumstances I would have written about that property before and maybe encouraged potential buyers to consider it. But that place is not normal. I remember showing that same house maybe ten years ago when it was as cute as a button-the perfect Key West hideaway located in a charming compound of other similar cute cottage style homes. The present owner loves cats and has maybe a dozen of them that roam freely. The cats have overtaken the place and it reeks of cat pee.

I remember a similar house that I showed a few times in 1996. It was owned by a writer who loved cats. I recall that owner had about 19 furry felines in his house. The eventual buyer bought a great house at a good price because most buyers refused to consider it. The new owner told me the floors were sanded and refinished but the odor would not go away. The new owner had to rip out the original floors and install new floors and some drywall. The house is fine now. But the cost was unexpected and the bargain price ended up costing much more than anticipated.

I have not written about another current low priced listing that has limited access with no on site and no street parking. What looks like a nice place on the Internet is something quite different in real life.

I have not written about low priced houses located near popular restaurants because the odors and congestion are something a new owner would have to deal with every day for eternity. Why would I want to subject a potential buyer to something like that? Cheap, yes. Value, no.

There are some small properties located in Old Town that may appear to be affordably priced. Buyers with an itch to do a remodel might consider them. I expect most will require extensive renovation and that the eventual cost on a per square foot basis is just too high to justify the expense for even a small property unless the property has a great location or in an architectural gem.

I have shown some properties that have undergone what I call staple gun renovation. I remember one place a few years ago that looked really sharp. It had a nice new kitchen with granite counter tops, stainless steel appliances, cute Italian light fixtures but also uneven floors laid over an old concrete slab. I remember showing the house and looking at the front double door entry. I could see daylight coming in under one of the doors. I looked up at a newly installed accent window. Daylight showed through a gap on one side. I pointed out the noticeable flaws to my buyer and told her not to consider the place. It sold for a lot of money during the height of the market. But not to my customer.

The photos at top of today's blog show 405 Frances Street as it appeared after it sold for the bargain price of $216,500. It underwent a dramatic renovation process which I will write about and share photos of someday after the project is complete. You can probably buy a really nice house in most parts of the United States for $216,500. In Key West you can buy a fixer. Some properties and some locations are worth spending money on because the resultant house (after expensive renovation) justifies the investment of time and money.

CLICK HERE to search the Key West mls database. You do not need to fill out any forms or become the captive of some real estate agent to search the mls.

If you see something that interests you, please consider contacting me, Gary Thomas, 305-766-2642 or by email at kw1101v@aol.com. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. Let me help you find your place in Paradise. I'll do my best to help you find a real bargain and avoid buying somebody else's nightmare.

610 Olivia Street - Old Town - Key West

Just re-listed, but not by me, 610 Olivia Street in Old Town Key West. This property has been on the market on and off for a couple of years and it was recently offered at a higher asking price. The property was re-listed today at $475,000 or $380 per sq ft. The listing agent describes the property this way:

"Charming single family home located just one block from Historic Old Town Key West. Wander to museums, shopping, restaurants, clubs and, of course, to the Atlantic ocean. Amenities include off street parking a large yard, central AC throughout and a spacious one bedroom mother-in-law suite to handle all those friends and family who will want to visit."

The two houses at 612 and 616 Olivia Street were purchased by one buyer a couple of years ago for $4,850,000. That purchaser then did a mini-renovation to create an incredibly beautiful Key West mini-estate. The properties directly across the street from 610 Olivia are part of the Paradise Inn. I refer to the view across the street as being similar to Wisteria Lane on Desperate Housewives because the view is just perfect. Key West Chemical Company owns the buildings behind and west of 610 Olivia Street (Guilda's Flowers). Some may view the location negatively and others may view it positively.

I think this house at this location could work well for a buyer looking to purchase a second home in Key West that could be rented occasionally as a monthly vacation rental. There is room at the rear to add a good sized pool and add some needed landscaping. There is a large side yard that already provides ample off street parking.

The cute house at 610 Olivia Street is 875 sq ft and sits on a 3385 sq.ft. lot (91' x 37'). As presently configured, the property has two bedrooms and two baths with one bedroom and one bath on each side of this house which has two front doors. The listing agent refers to the additional living area as "mother-in-law suite".CLICK HERE to view the Key West mls datasheet and listing info.

Notable nearby restaurants include Seven Fish, Pisces, 915 (Duval), and Martin's. St. Mary's Catholic Church is a two block walk away. You can reach most of Old Town on foot within ten minutes from this location. Until you build your pool you can use the public beach at South Beach or walk over to Ft. Zach.

Ft. Zachary Taylor State Beach

If you are looking to purchase a second home in Key West, please contact me, Gary Thomas, 305-766-2642 or e-mail me at kw1101v@aol.com to help you find the home of your dreams. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

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Windward Park - Key West - Short Sale

Just listed, but not by me, 606 Truman Street Unit No. 2 in the Windward Park townhome complex. If the address seems familiar, it is. I wrote about this same unit a little over a year ago when it had just been listed by another Realtor at a higher price but also as a short sale. Those two listings caused a big stir. Several other agents got a chance to see the 'other' unit but not No.2. I was told that the owner received several very good offers on both units. As I recall the owner did not accept any of the offers. Maybe this time an offer will get accepted.

Windward Park was developed in 1988 as a compound of 13 town homes featuring Bahamian style architecture. Most of the town homes have first and second story front porches that overlook the huge heated pool and beautifully landscaped grounds. Each unit has a designated off street parking space. Entrance to the property is controlled via security gate.


This is how the listing Realtor describes Unit No. 2:

" Located in the stunning Windward Park complex located one block from Duval Street. This 2 bedroom/2 Bath unit has cathedral ceilings and a wonderful open floor plan. A great buy for the discerning investor. This property is a potential short sale and will be subject to lender approval."

CLICK HERE to view the mls data sheet on this property which is listed as a short sale at $362,250 or $288 per sq ft. I don't know what the interior looks like since I was unable to see it when it was for sale last year. If I were to make a sight unseen offer on this place, I would assume the worst and hope for the best. By that I mean plan on new kitchen cabinets and appliances, new French doors, new flooring, complete interior and exterior paint job. And maybe replace the air conditioning. This unit is 22 years old and most properties that age in Key West need a periodic update. This unit does not have a transient license.

Each unit has two bedrooms and two baths, washer & dryer, private outdoor space, main level and a second floor porch. The floor plans, however, vary from unit to unit.

Windward Park is located one block from Duval Street so it is near all of the great galleries, restaurants, nightlife, and attractions. The neighbor next door to the east is St. Mary's Star of the Sea Catholic Church. In fact both bedrooms look onto the church lawn. This town home sits back quite a distance from Truman Avenue. It's very quiet. And it is conveniently located near to everything that second home owners want.

Please call me Gary Thomas, 305-766-2642 or email me at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty Inc. in Key West, Florida. By the way, I had the last arm's length sale in this complex. That was in January 2009.

728 Windsor Lane - Key West - Price Reduction

728 Windsor Lane in 2010

728 Windsor Lane in 1965

I think the little cottage at 728 Windsor Lane is one of the best buys in Old Town Key West. The seller just reduced the asking price from $260,,000 to $229,900. This house is still livable as is for a few years, but it really needs a redo. When I show a house like this I tell my buyers not to consider what it looks like now on the inside or the outside because when to redo is done, you won't be able to recognize the place. The good thing about a redo like this is that you don't have to worry about small rooms or inefficient layouts or lack of closets. All of those ills should be fixed in the renovation.

The house currently has two bedrooms, one bath, a living room and dining room, a small kitchen and separate laundry area accessed from the rear deck. The listing agent says the house has 654 sq ft of space under roof and it sits on a 1279 sq ft 1/2 block from the top of Solares Hill, the highest point on the Island of Key West and one block from the tippy top of Solares Hill. MAP. Many of the other properties on this block are of similar size. Many of those have been renovated. Most share the common dilemma this house faces: small building, small lot, no off street parking. Those three factors and the high cost of renovation in Key West have scared away many potential buyers from a place like this. I understand this but I think I have a somewhat good alternative on how to approach this property.

The red X marks the location of 728 Windsor Lane on Solares Hill in Key West

Key West Cemetery

Top of Solares Hill is one block to the west

Small neighborhood park is just around the corner at the end of William Street

Americans have gotten spoiled into requiring big rooms and grand spaces. Even when buyers are seeking bargain properties, most want to make something bigger and better out of what exists. Well, sometimes you can't get everything you want. Sometimes you must accept a little less to get most of what you want. I spoke to one contractor who looked at this house as a possible renovation project for a buyer. That buyer wanted so reconfigure the existing house and add a partial second floor at the rear. That buyer decided not to do the project because he couldn't make the house grow big enough.

The Key West Historic Architectural Review Commission (HARC) and the Planning Department for the City of Key West must approve such projects. All kinds of rules, building code requirements, and density restrictions must go into approving projects like this. A small house like this can take as much time to move through the bureaucratic jungle as a big project and some decide that the small house does not justify the investment of so much time and money if the end result is still just a small cottage.

What is wrong with a small cottage? Why does someone have to mess with something so quaint? Why not do something a little less daring and probably more certain of getting approval?

I'm not a designer or contractor but I came up with a plausible plan to renovate this house in such a way as to keep the historic facade intact but that would allow a new owner to totally redo the inside to create new living spaces that meet today's lifestyle.

My idea is to remove all existing interior walls, doors, and windows. Repair the foundation as necessary and reconfigure the house with a large bedroom with ensuite bath at the front. Create a new side entrance on the west side of the house with entry into the new living-dining-kitchen areas at the rear. A door off the kitchen would permit guests to use the bath without going into the bedroom area. The existing structure is a double sawtooth with an addition at the rear. I would remove the existing ceilings and create new vaulted ceilings throughout. New French doors would be added to the rear of the house that would open onto the rear deck and pool. I have seen similarly sized and styled homes have been renovated in similar fashion. Local contractors have done lots of houses like this. I cannot say everything I suggest will work or would get approved by HARC or the city planning department. And I cannot guarantee the price of the work. But this only a 650 sq ft property. I just have difficulty believing construction could go beyond $150,000.

Notice the double sawtooth roof

If a buyer purchased this property at the asking price and put $150,000 into it, that buyer would have a virtually "new" cottage style home in a great Old Town Key West location for about $380,000 or $581 per sq ft. What the buyer would not have is off street parking. But a lot of Old Town owners do not have it either. And the new owner would not have a guest room for all of his or her family and friends. I bet that it would be cheaper for a buyer to put his freeloading family and friends up at the Eden House on Fleming Street every year than it would be to add a second floor guest bedroom.

728 Windsor Lane is not a big house for starters, and you can't grow the house much larger. But you could immensely improve the structure and the space. The location is great. There is a neighborhood grocery 1/2 block away. Duval Street is three blocks to the west and the Historic Seaport is five blocks to the north. You could walk to just about any spot in Old Town in about ten minutes or less.

CLICK HERE to see the listing info sheet on this property. This property is rented and advance showing notice of at least 24 hours is required. Please call me, Gary Thomas, 305-766-2642 to schedule a showing of this property. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.