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Showing posts with label multi-family. Show all posts
Showing posts with label multi-family. Show all posts

Tuesday, February 21, 2017

611 William Street, Key West

The listing Realtor describes 611 William Street this way:
"Located on one of the most sought after streets in Key West, this Classic Revival Home has endless possibilities. The home boasts 3336 sq. feet of living space with wonderful porches both upstairs and down, this three-unit property could quickly return to its grand dame single family home roots. Or you could maintain it as it is. Move in today, live in one of the units and continue renting the other two. The property, with Dade County pine throughout, includes three units: a two-bedroom, two-bath owners' home on the ground floor, opening onto the magnificent outdoor dining and entertaining areas; a two bedroom, two-bath home on the second & third floors that overlooks peaceful William Street from a large and welcoming balcony and boasts a magnificent roof deck with 360 degree views of Old town. In addition, a perfectly sweet, one-bedroom, one bath cottage-style unit that's just meant for cozy, comfortable living. The property has been beautifully updated and maintained. It's move-in ready, of course, but the discerning buyer will see the potential for re-thinking whether a single-family home might not be just perfect. And, there's the possibility a new owner might want to consider keeping the upstairs unit and incorporating the one-bedroom space elsewhere. See what we mean about possibilities? X500 Flood Zone and off street parking make this a perfect Key West address!"
Let's look at this big house the way a stranger might as he approaches the front door. Well, there are three doors (referred to as "bays") when viewing historic architecture. Each door has a pediment and wooden shutters. This tells us that the house was likely built to a higher standard than other houses of its era. There are numbers on two of the doors which suggest there are at least two living units accessed from the three front doors. The stained glass window over the left door suggests that door probably is the entrance to a stairway to the second floor and that the middle door is the primary entrance to the first floor living space. The right door is for decoration and in earlier days provided both architectural symmetry and ventilation.  The assumptions prove true in this house which has a first floor one bedroom apartment. The living rooms is seen in the above photo. Part of the bedroom can be seen as well. The kitchen and private bath are not visible in any other photos. Remember this space later as we look at size and price.
The top photo of today's blog shows a gated parking space at the left front of the property followed by a tall white picket fence that separates the parking space from the side garden area which wraps around to the rear where there is a second first floor apartment with two bedrooms, living room, kitchen, and covered outdoor loggia.  
That left front door stairway delivers the stranger to the second floor which appears immense when seen for the first time. The  walls and ceiling a Dade County Pine painted white and which re dramatically offset by the dark stained wood floors and treads and railings on staircase leading to the third floor. Three bay doors open out to the covered second floor front porch which overlooks William Street. Broadway impresario Jerry Herman used to live across the street at 626 William. Shel Silverstein's home was located two doors north at 620 William Street.
The doorway at the the stairs leads into the kitchen and dining area and then into a bedroom and bathroom. Notice the pitch of the roof as it continues into the bedroom. While these spaces look contemporary, the old scuttle reminds us this is a really old house adapted to modern living. It works.
The third floor has a second bedroom and bath plus a sunny rooftop deck which overlooks many of the neighboring homes.  Key West has height restrictions on all new buildings and renovations. I seriously doubt that any one will ever be able see onto this roof top deck or view anything that ever happens here.

According to the Monroe County Property Appraiser 611 William Street has 2632 sq ft of living space under air conditioning (not including porches or open living spaces) and sits on a 43.83' X 80' (3608 sq ft) lot. I searched the Historic Sanborn Fire Maps to see if I could determine the approximate time this home was built. The entire area of William Margaret Streets south of Southard was omitted from the 1889 map. However, 611 William Street did appear on the 1899 map. That map showed what appears to be the front two story grand conch house (spectacular in layout) together with an attached square structure plus two out buildings. (The out buildings no longer exist.) What looks like a walking lane was located between 607 and 611 William. The lane used to lead to a house identified on the map as 708 1/2 Southard Street.   (If there was a lane, it no longer exists.)  The houses which faced onto Southard and Margaret Street were demolished years ago when the Harris High School on Southard Street was built.  Today the old high school and surrounding grounds are for sale. Generations of locals attended this school. Expect only a great future for this property.
CLICK HERE to view the Key West MLS datasheet and listing photos of 611 William Street which is offered at $1,595,000.  This property is perfectly livable as is.  It appears to have been property maintained for years. I do think a new owner might seriously consider taking this property back to single family residence.  It would be simple to convert the multi-family living spaces into a large single family home. I think the side yard may have enough space to build a small pool, especially if the existing rear covered area were opened to eliminate the hard surface areas.  In this instance, less really would lead to more. Pleas call me, Gary Thomas, 305-766-2642, to schedule a personal visit to view this home, not as a stranger but as a potential owner.






















I dug into my old shoe box and found a photo of 611 William Street taken in 1965 with the notation that the house was built circa 1889. I sold the house next door to the south (613 William Street) a few years ago. That delightful place is referred to as The Pink House.The styles are totally opposite: 611 William is big and somewhat imposing while 613 William, a restored cigar maker cottage, is smaller in size and more demur all together. This block has a variety of homes including a classic eyebrow, a couple of what we call "great houses", and several  smaller cottage style homes like 608 William Street pictured below. Some homes have postage stamp lots while others have huge rear yards accompanied by pools, guest cottages, and the like.

Wednesday, July 10, 2013

622 Grinnell Street - Key West, Florida

If you like old houses with lots of character of have a yen to do some remodeling, the historic home at 622 Grinnell Street in Old Town Key West is a property you should consider. This place is glorious and full of charm. You won't see stainless steel appliances, marble, or granite anywhere. But you will see lots of potential everywhere.   622 Grinnell Street is listed by Preferred Properties Key West, but it is not my listing. The listing agent describes the house this way:
"Wonderful, original conch home with three legal units. Great location and superb street presence. Access to the rear cottage is from a lane.Possible conversion back to single family and would be a really spectacular property as such. Opportunity to work with a property that has been maintained while leaving a Key West flavor."
I did a quick search of the Sandborn Fire Maps and learned that 622 Grinnell Street first appeared in the 1912 edition. Prior addition was 1898 so we know it was built after 1898 and before 1912.  I found a photo of the property that was taken in 1965.  Compare that black and white photo to a photo I took last week.
The property consists of the main house on Grinnell Street and the rear (guest) cottage on Canfield Lane. The main house does not have (and may have never had) an interior staircase.  Until a few months ago sibling owners occupied the first floor, the second, and third floor. (The second and third floors were occupied by one sibling.)  The cottage has been a rental for some time. This explains the mls listing as three legal units. I have shown this property several times and have been unable to find any evidence of a prior interior staircase.  However, the house is quite large and there are a couple of alternative areas where a new staircase could be added which would then lead to the conversion into a single family residence which I believe is the highest and best use for this property.

622 Grinnell Street has 1820 sq ft of interior living space. The cottage has an additional 512 sq ft.  The house and cottage sit on a large lot on one of the quietest blocks in Old Town.  (Grinnell Street dead ends at the corner of Angela Street which is the northern boundary of the Key West cemetery.)  The value in this property is not as multi-unit income property but rather as a renovated single family home with a charming guest cottage which has room to add a pool and parking. The photos below were taken a few months back when the property was owner occupied. Tenants now occupy the property and it does not show the same.
The rooftop deck on the main house has an incredible view of the area. You can see the spires at St Mary's Basilica. Most of the lot is covered with tropical foliage and red brick pavers. The house itself has been well maintained and looks great.  Buyers who seek Dade County Pine and old glass with ripples will fall in love with this old house. There are little cubby holes and scuttles and other architectural treasures galore.
When I photographed the second floor a few months ago it almost looked like a Ralph Lauren idealized version of what a Key West home should look like.
The listing agent states that the property as a whole has 2740 sq ft of living space and sits on a 57' x 83' (4683 sq ft) lot. The house has not been touched in years and would benefit from a thorough renovation. But understand that the property is perfectly livable as is. I just think the highest and best use of this house is to make it into a single family. CLICK HERE to view a slideshow of photos I took of this property.
The 600 block of Grinnell Street is one of the quietest blocks in Old Town. That is because it ends at Angela Street which is the northern border of the Key West cemetery. That means that Conch trains, trolleys, and Duck Tour vehicles will not be using this street because they cannot traverse Angela Street. Your life will be quieter because of this. Occasionally you will still see tourists walking by or riding bikes. And you will see neighbors go across the street to use the Grinnell Street Pocket Park.

Five Brothers Grocery and Sandwich Shop is located down the block at the corner of Southard Street. The Key West Historic Seaport is located three blocks further north and Duval Street is located five blocks to the west. Most of the gyms and yoga studios are located within a five to ten minute walk.


622 Grinnell Street is offered at $1,200,000. CLICK HERE to view the Key West mls data sheet on this property. Or better than that, please call me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com.  I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise.


Saturday, November 10, 2012

1022 Washington Street - Casa Marina Area - Key West

 
Attention Bargain Hunters.  You know who you are. You are the guys and gals who use coffee breaks and late night internet searches trying to find a deal in Key West real estate. Most of the good deals got snapped up. Today's blog is about a deal that has evolved over time and that is now ready to be snapped up as well.

1022 Washington Street is located in the Casa Marina Area of Key West and particularly on one of the prettiest blocks in that area. I know. I live around the corner.  I love the tall mahogany trees, the giant palms, the majestic date palms, and all of the flowering trees of every sort that line the streets and populate the large yards in this section of town.

The house across the street - there goes the neighborhood
The house across the street has got to be one of the prettiest houses in all of Key West.  When I recently drove my buyers to look at 1022 Washington Street I remarked about the beauty of that house. When I got inside 1022 Washington I turned around to catch a glimpse of the neighbor.

1021 Washington Street
After I passed the threshold I turned around and  took the above photo so that you could imagine the pride you might feel in living in such a great location.


 
1022 Washington Street is a legal three unit property that sits in a predominant single family neighborhood. The main house is 2009 sq ft and has four bedrooms and three baths, a voluminous living room, and kitchen.  There is an adjacent two story house with a ground floor two bedroom apartment and a second floor one bedroom apartment with a total square footage of 1152 sq ft. The combined gross square footage of both buildings is 3250 sq ft. The lot is 71' wide by 94' deep for a total of 6603 sq ft. Access to the cottage apartments is via a walkway on the other side of the side fence.  Whether the cottage is used for income or forever appearing friends and family, whoever occupies the cottage won't interfere with whatever is going on inside the main house. CLICK HERE to view the Key West Association of Realtors mls database and to view listing photos.

The front door opens into the living room which has a vaulted ceiling and French doors that open out to the pool.  Two of the four bedrooms in the main house are located on the east side of the living area. The remaining bedrooms are located on the west side. The kitchen is at the east rear.

The lower level two bedroom apartment is shown above. The one bedroom second floor unit is shown below.



The main house and cottage were recently updated. I took photos of both living spaces and the yard and pool area. You can see those photos if you CLICK HERE 

The listing Broker describes this property as :
"Bright, open and airy single family home with pool totaling 4BD/3BA in the beautiful Casa Marina Area. Plus, a duplex in rear with private entrance comprised of two 2BD/1BA apartments. Very spacious floor plan with vaulted ceilings, lots of French doors and windows, new decks surrounding the home, brick walkways and a charming picket fence for privacy. Very clean and well kept with plenty of off street parking. One of the owner's is a licensed Florida Real Estate Agent but is not the listing agent."
I did a quick comparison of sale prices in the Casa Marina Area for the past 18 months for single family homes and three to four units (which this could be).  There were 18 single family home sales that sold at an average price per sq ft of $464. This group included a couple of super-cheap short sales and a foreclosure. But it also included a recent sale of a single family home one block to the south for over $1,950,000. Most of the homes in the Casa Marina Area are larger single family homes on large lots. A new builder would not be able to build a similar multi-family unit like this on vacant land today.  For what it is worth, I believe a smart buyer might do some additional renovation to the main house, take down the two story building and create a covered outside loggia overlooking a newly expanded pool.  Key West has several very competent architects who could do some creative things to make this property fit into the area even better than it already does.

1022 Washington Street has been on the market for quite some time at a much higher price. The price has been dramatically reduced to $849,000.  I would love to show this property to a real bargain hunter who can appreciate the location and value of this property.  If you would like to see this home, or any other property in Key West, please call me, Gary Thomas, 305-766-2642. I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise.





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The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.
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