550 Porter Lane - Presidents Lane Townhomes - Bank Owned - Key West

This new Bank Owned listing will likely go under contract in a New York minute because of the location, price, and value that this baby offers to potential second home buyers. The listing agent's mls description tells all:

"BANK-OWNED Presidents Lane 2/2.5 Townhouse with covered parking. Steps away from Duval Street and Old Town Key West shops and restaurants. This property comes furnished"

This is how the same unit was described (and photos taken) in 2007 was listed at a much higher price by a different agent:

"As you enter this lovely town home you are greeted with the view of a comfortable and inviting vacation home. Features include a phantom screen door for the front door, colorful custom kitchen countertops, and newer appliances, tile floors on the first level, solid oak stairs and oak flooring on the second level. A new awning has been added at second floor rear balcony. This homes comes fully furnished ready to be rented if desired. A covered assigned parking with extra storage is included."

(Photos from 2007 mls listing and are not current!)

I have written about Presidents Lane Townhomes before as it has recently had several units go on the market. Even though each unit is very much alike as far as size and room configuration, each is different as to location, decoration, owner motivation to sell. That is why I think Unit 550 Porter Lane will sell so quickly-it is priced to sell now at just $470,900. There may even be a bidding competition to get this unit. The mls datasheet does not show that this unit has a transient license; however, the 2007 mls datasheet showed that it had one at that time. CLICK HERE to see the Key West mls datasheet on this property.

The amenities at Presidents Lane include nearby covered off street parking and a beautiful pool plus the beautifully maintained grounds of the Truman Annex and security. Frequent visitors know that Truman Annex enjoys a great location near Duval Street, Mallory Square, and quick access to Fort Zachary Taylor Beach and state park.

The Presidents Lane Pool - Unit 550 is located nearby

Unit 550 has a covered parking space - not all units do

Presidents Lane starts just behind the single family homes on Front Street in Truman Annex

Fort Zachary Taylor State Park and Beach - a five minute walk from home

He who waits to listen to the paint peel will not get this bargain priced bank owned unit. If you want to buy this place, you need to act sooner rather than later. Please contact me, Gary Thomas, at 305-766-2642. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

233 Southard Street - Old Town - Key West

233 Southard Street

Just listed by Preferred Properties Coastal Realty, Inc. (but not by me), 233 Southard Street in Truman Annex in Key West. The listing Realtor describes this two story townhome this way:

"This bright and sunny end-unit in the President's Walk has been recently renovated with a sparkling new kitchen with granite countertops. The master bathroom has also been upgraded with new tile, granite countertop, and new fixtures. This townhome has four porches (two up, two down), new hurricane shutters and a deeded carport with overhead storage. Used as the owner's vacation home, this unit has been very well maintained."

The listing agent left out how cute and comfy this place is. I had the opportunity to be the first to show it the day after it was listed. If you have been in several President's Lane units, you still must see this one because it isn't like all the others. The new kitchen has new cabinets and appliances which totally redefines the kitchen usage and makes the entire main level more attractive. This is an end unit with windows on the side. The photos below prove my point.

All New Kitchen

French doors open to private rear deck and yard

Rear bedroom with deck that overlooks the pool to the right

Newly remodeled bathrooms

The "X" is 233 Southard Street and this is the pool at President's Walk

Deeded parking space with overhead storage

This unit is permitted to obtain a valuable Truman Annex Transient License which allows weekly rentals.

CLICK HERE to view the Key West mls listing datasheet and photos. Better yet, please call me, Gary Thomas, 305-766-2642 to set up a showing on this really charming President's Walk townhome. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

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Porter Court - Key West - Money Maker

Southard Street in Truman Annex

View from second floor balcony overlooking pool

The list Realtor minces no words in the description of this sharp Porter Court townhome:

"Perfect end unit in exclusive Porter Court - a gated community of only 19 within Truman Annex in Old Town Key West. This beautifully decorated turnkey property can be rented transiently and has the best rental income in the complex. 2 bedrooms, 2 and one half baths with Plantation Shutters throughout and is ideally located with a private entrance off of Fleming Street. Large side and front decked yards and a second floor porch overlooking the pool and courtyard add to the feel of this tropical resort property. The perfect second home and investment with a great rental history. Paradise found!"

Private entrance off of Fleming Street

I got a chance to see this very successfully rented unit two weeks ago during Realtor caravan (lots of agents on a bus that tour new listings). We actually were lucky because the unit was occupied by vacationers that consented to let us traipse through their temporary home in Paradise. The place is really cute but the rental history is the best part. It was the top producing property in Truman Annex in 2010 and it has substantial pre-bookings for 2011 and 2012. A buyer who wants heads-in-beds to help make the mortgage payments on a second property like this can appreciate the value of having vacationers that return year after year. It is like having money in the bank.

This 1140 sq ft unit was built in 1992 but it does not look like it. The kitchen is very current as are the baths. All rooms are nicely furnished. French doors open from the living room onto one of two rear decks. I did not see any deferred maintenance. What I did see was a nice inviting back entry (right onto Fleming Street). That means you can or your guests can by pass going through the main entry and make a quick exit directly to your favorite Old Town hangout. Fleming Street as well as all other gates are locked at night but owners and guests have keyed access.This Transient Licensed unit is offered at $749,000.

Front Street meanders through Truman Annex from Southard Street

Gracious Truman Annex homes make visitors want to return year after year

Truman Annex gives vacationers a sense of security, comfort, and nostalgia

Truman Annex has seven different communities that include condos, townhomes, and single family homes with different features and various price points. The location has become a perennial favorite for returning visitors. It is close to everything but it is also very quiet.

If you are looking for a place in Paradise that you can occasionally rent to help with the mortgage payment, you might want to take a look at this Porter Court unit. Please call me, Gary Thomas, 305.766.2642 to arrange a private showing. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

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.

Emma's Secret -713 Emma Street # 4 - Key West

The asking price for 713 Emma Street #4 just got a lot more tantalizing: it has been reduced to just $399,000. The four unit compound was built in 2005. Each unit is slightly different but each unit has top of the line fixtures, amenities, and workmanship. I can't say that about a lot of properties in town. But this place is so fine that I invite would-be buyers to call me to schedule a showing. Then we can do some comparison shopping so you can see for yourself how this place stacks up against similarly priced properties in all parts of Key West.

The listing broker describes this property this way:

"Stylish 3BD, 2.5BA condominium situated in a secured and private courtyard setting. Just blocks from Duval St & built as the owners unit 1995, it is in beautiful shape. Fine craftsman ship & materials throughout include Brazilian hardwood floors, vaulted ceilings, granite counters, sub-zero refrigerator, Viking stainless gas stove and Bosch dishwasher & compactor. Lounge by the designer pool with waterfall surrounded by a tumbled brick patio. Enjoy the luxuries of modern construction with GE smart wiring, Hardiboard siding, , assigned off-street parking and storm shutters. Walk to local attraction, restaurants and shops. Just four units in the development."

The gated entry to the complex lets you know you have arrived someplace special and secretive. When the gate opens your eyes travel down the bricked pathway past the pool and finally view the water wall. It looks like an ever changing mirror of water cascading down into a pool. The small courtyard separates the four units and provides some shared and soe private spaces for each property owner.


This home is located at the far rear on the south side. It gets morning light which breaks into the kitchen and living room. All rooms have beautiful crown molding, rich real wood floors, and designer light fixtures. The kitchen is just gorgeous.. You will not find a prettier kitchen for this price in this town. Period.


The third bedroom the listing broker refers to opens directly onto the kitchen so it can do double duty as a guest room, office, or a third bedroom if required. This room has its own private bath. This bedroom has an entrance onto its own private rear porch.

The two bedrooms upstairs have vaulted ceilings and separate en-suite baths. There is a beautiful stairway between the two floors that has a window that illuminates the stairway and provides a glimpse of the pool below. I don't recall having ever seen such a beautiful staircase in any home at this price point.


If you are shopping just by "price point" you need to see this home. If you are shopping for value you need to see this home. If you are shopping for a 3 bedroom home priced under $500,000 you definitely need to see this home. CLICK HERE to checkout the Key West mls data sheet and to view more photos of this property.

If you don't know the area, the Shipyard Townhomes are located 1/2 block to the north, Santiago's Bodega is 1/2 block to the south, and Blue Heaven is just one block to the east. Ft Zachary Taylor State Park and Beach is a five minute walk.

Please call me, Gary Thomas, 305-766-2642, to schedule a showing of what I call Emma's Secret. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

1431 12th Street - Mid Town - Key West

1431 12th Street - Bank Owned - Key West

There is a Bank Owned townhome in the Mid Town area of Key West with bank financing that might make you want to take a look. In fact, the new financing offered seems like old times to me. This is how the listing Realtor describes this property and potential financing:

"Bank Owned Home!no Short Sale Hassles!special Financing Available. Zero Down,100% Financing With Rates Starting At 4.99%,No Bank Fees,No Points,No Appraisal Fee Required.No Income Verification To Qualified Buyers With As Little As 10% Down,Seller Financing Incentives."

Nothing in life (or banking) is free. Every time you deal with a bank there are strings attached. But like I said, you might want to take a look at this Bank Owned townhome which is located at 1431 12th Street. CLICK HERE to checkout the mls datasheet and the listing photos. Note the nice kitchen and in-ground pool. Also note the asking price of $350,000 or $190 per sq ft for this 1844 sq ft two story two bedro0om two bath home.

I have not been inside this place. The prior listing agent described the property this way:

"Huge 2 Story Townhome.1800+ Sq Ft.20' High Ceilings.Pool With Outside Covered Bar. Awesome Remodeled Kitchen With A Gigantic Granite Bar That Seats 8 Comfortably.Sound System Throughout.Entire Upstairs Is A Master Bedroom Loft With A Master Bath And Walk In Closet.2 Car Off Street Private Parking."

These townhomes are connected but there is no community association of common amenities. This property is located one block from Kennedy Drive and the baseball fields that run from Flagler Avenue to North Roosevelt. The three large Key West shopping centers are all within a three to five minute drive. For out of town buyers looking for a property you can rent as a vacation rental-this is not the property. But for buyers looking a good sized home with private pool at an affordable price, this may be what you have been hoping to find.

12th Street looking northeast

Please call me, Gary Thomas, 305-766-2642, to schedule a showing of this property. I am a full time Realtor at Preferred Property Coastal Realty, Inc. in Key West, Florida.

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I Like Ike ! Key West Waterfront

716 Eisenhower Drive #6 Pictured above

Key West is famous for renaming its streets to honor former Presdients. Located at the water's edge at the Garrison Bight the former North Beach Road was renamed Eisenhower Drive. Read "The Streets of Key West: a History Through Street Names" By J. Wills Burke for a colorful description of how many of Key West streets got their names. Of Eisenhower Drive, Burke writes "From Palm [Eaton] to Truman, Eisenhower Drive runs a straight line along the shore of the Garrison Bight. Burke wrote "His name sums up the man. Dwight D.Eisenhower's boyhood nickname, Ike, stayed with him throughout his life. It reflects an affability that put everyone in his presence at ease, and it lent itself readily to the "I Like Ike" campaign slogan that helped him get elected twice... Like the man, his namesake street is direct and unambiguous."

716 Eisenhower Drive Unit # 6 in the Paradise Harbor Condominium is very "likable". In fact when I recently showed it my potential buyers stayed much longer than expected. We first looked at the developer's unit in the adjacent building. After seeing that unit, they wanted to leave. I convinced them to stay since the listing Realtor had taken his time to show this property. Big enclosed garage and storage plus a private elevator to all four floors was the same as next door. But that was the end of the similarities.

Each floor and each room of this very special place was designed for easy and comfortable Key West living. This place has no pretense, yet it is so very special. You know from the get-go that the place was designed and outfitted with the very best materials. Everything works. There is no hodge podge and no skimping.

The living space is on the second floor which includes kitchen, dining and living room. Sliding doors on the east open onto the balcony overlooking Garrison Bight. Another set of sliders on the opposite wall provide protected views to the west. The semi hi tech kitchen is separated by a comfortable island. Sitting in the tall bar stools I just imagined what a great party place this could be. We walked outside and looked at the boats bobbing up and down in the water. Yes, the Palm Avenue bridge is busy in the daytime. But at night the traffic is minimal. The doors are all hurricane impact resistant rated. You can't hear a peep inside the home.

Living area over looks the Garrison Bight Marina

Party Central or Divine Cuisine?

The Chef's Table de Cuisine

Floor three has two good sized bedrooms and each has an ensuite bath. Both bedrooms have separate balconies with one overlooking the water and the opposite toward the city. The fourth floor is the master suite. The ceiling is vaulted (like in some of the great Old Town homes) so the sense of old Key West is not lost in this 21st Century waterfront townhome. Imagine waking up in the morning with sunrise views across the Bight and walking to the private elevator to take you down to the second floor for your morning coffee. The stairway works just as well.

Remember this property also includes a private boatslip. After that morning cup of coffee you can go out to your boat and enjoy the waters of Key West.

Checkout the mls info and listing photos CLICK HERE. The architect owner over-indulged on this space. It will make you want to have one just as nice. You can. You can buy this one for $1,995,000.

CLICK HERE to see one of the two mansions across the street. And CLICK HERE to see The Meadows Townhome that I recently sold also located across the street at the corner of Petronia. I like the neighborhood.

Bedroom with west view

Bedroom with east view of the Garrison Bight Marina

Master Suite on third floor will make you green with envy

Interior stairway and private elevator take you from floor to even lovelier floor

If you would like to see this really lovely waterfront townhome, please call me, Gary Thomas, 305.294.3040. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. Our office is the exclusive Lower Florida Keys affiliate of Christie's Great Estates. Let's take a look and I bet you will say "I Like Ike !".