516 Catherine St. Key West - Licensed to Make Money

 The listing agent describes the new transient licensed home at 516 Catherine Street, Key West this way:

"TRANSIENT! TRANSIENT! TRANSIENT! TRANSIENT! LOCATION! LOCATION! LOCATION! LOCATION! In Old Town Key West. Key West has always been a great place to come and enjoy your vacation time, why not make this your next great investment. You can enjoy this amazing property while you are here and just rent it out when you are not. You can come and go as you please and make money while you are away. An extremely well taken care of property, with great attention to detail, makes this an easy property to just take over and reap the benefits. Two bedrooms (2), Two (2) Full Bathrooms, one (1) large office and great salt water pool with outdoor shower makes this historic one thousand two hundred one (1201) square foot home just perfect for you and your guest to sit back and enjoy. Also, don't forget you get to rent it out when you are not there. Very private for you and your guest, but just a short walk to all that Key West has to offer. This Key West investment strikes all your boxes. New roof has been done within the last couple of years, fresh paint inside and out. Old Key West Charmer is what this home really is. Beautifully landscaped for your tropical oasis. One (1) off street parking is very important with only being a half of a block from Duval Street. Location is just perfect, on the lower end of Duval area, so you can walk to everything. Just far enough away to have some peace and zen. Don't wait!! This is the one you have been looking for. Please contact for showing times, we are not showing while guests are appreciating their vacations."

I looked for but could not find any really historic photos of this house. I also searched the Historic Sanborn Fire Maps and learned that this house along with dozens of similar home were located on the blocks north, south, and to the east which built before 1889. Locals and returning guests may be more familiar the the nearby LaTeDa Hotel and Restaurant. But back at turn of the 19th Century the Gato Cigar Factory was located just half a block to the north. The Key West Electric Company operated the street car system that included a line beginning at the Atlantic Ocean ( three blocks to the south) and that ended at the Key West Seaport about one mile to the north. The cigar factory burned to the ground and the street car line was later ended. Cigar making shifted up to Tampa while Key West stagnated for several decades. The wooden houses were lived by locals during those years. But as Key West evolved into a tourist destination, those little houses became increasingly more desirable because of their proximity to Duval Street, the ocean, and all the attractions that Key West offers. 

I know for a fact that visitors like to sit on the front porch and imagine living life to its fullest  in Key West. I hear it all the time. Sitting there. Rocking. Contemplating. Not doing a thing except planning their next meal and beverage event and not in that order. This house the perfect front porch from which you enter a hall that leads to the main open living area at the rear. There is a bedroom up front, a second large bedroom with en-suite midway on the right with an adjacent guest area. Both the guest area and living room have French doors with views of the pool. 

 

I think the larger bedroom with guest area functions like a junior suite at one of the pricey hotels except this one opens out to a private pool where you can take a late night dip worrying about prying eyes of others. (If you like that sort of thing go the the Bull and Bush.)

The place is in really good condition. I checked it out and discovered a super cute outdoor shower with well placed mirror for shaving al fresco. The pool is sunny and like I said totally private. How cool is that?

There are dozens of reasons to stay at 516 Catherine Street Key West. CLICK HERE to view the Key West MLS datasheet and listing photos. Then call me, Gary Thomas, 305-766-2642, to schedule a showing. I am a buyers agent and full time Realtor at Preferred Properties Key  

UPDATE JULY 25, 2021.  The transient licensed property at 530 Catherine St sold for $2,525,0000 cash or $1,848 per sq ft. Sold in 11 days.

530 Catherine Street, Key West - Transient Licensed Money Machine

 

Just listed, but not by me, 530 Catherine Street, Key West. The listing Realtor describes the property this way:

"Say hello to this TRANSIENT vacation rental just steps off Duval Street! Fully renovated from top to bottom, this low maintenance home has 2 of the 3 bedrooms on the first floor. All have ensuite baths. Beautifully furnished, this fabulous investment property is fully rented through May 2022! The home features an open floor plan with seating for 6 at the spacious kitchen island and a living area that opens to a comfortable covered lanai. Enjoy a beautiful heated pool with the convenience of an outside pool bath. The outdoor area affords plenty of space for sunning and dining. Round out this money-maker ($200K +) with a designated parking space, and you've got a winner!"

You enter the house from the new side addition instead of the front porch which is now a private sitting area for the front bedroom with en-suite bath. There is another first floor bedroom and bath located at the right rear. That bedroom opens out to the pool. The stairway leads to the third bedroom with private bath on the second floor. That bedroom is more spacious than the photo suggests.

The informal inside living area transitions to the very informal outside living area. There is a poolside bath. It is, however, the open sky and swaying palms that will captivate your paying guests.

This property has everything a buyer seeking a true money making property could wish for: a transient rental license; a new renovated house in great condition; a comfortable interior with three private bedrooms and baths; a stunning pool area with no peering views; an off street parking space; and a location near all of the hoopla of Old Town without being on top of it.

Duval Street is less than one block to the west. La Te Da is located on the corner in case you have an urge for a cocktail. South Beach is located three blocks to the south. They have cocktails there, too. Actually, there are cocktails from the Gulf of Mexico to the Atlantic Ocean and each block in between. And a lot more.

CLICK HERE to view the Key West MLS datasheet and more listing photos of 530 Catherine Street, Key West which is offered for sale at $2,600,000. Then please call or text Gary Thomas, 305-766-2642, to arrange a private showing. This property is constantly rented and showing dates and times are limited. I am a buyers agent and a full time Realtor at Preferred Properties Key West.

UPDATE JULY 25, 2021. This property sold for $2,525,0000 cash or $1,848 per sq ft. Sold in 11 days.

910 Elizabeth Street, Key West - Transient Licensed Property

910 Elizabeth Street, Key West, is listed by Preferred Properties Key West. That is where I work, but this is not my listing. The listing Realtor describes the property thus:

"This unique opportunity in old town Key West includes three units and three parking spaces. The first unit is a gated 2/2 transient home with den with a large heated private pool surrounded by a sunny porch, deck, patio and lush foliage. There are also two residential units with separate entrances and their own parking. Unit 2 has loft bedrooms/1 bath and unit 3 has a den with loft bedrooms/1 bath. The long term units are accessed through a gate into a beautiful orchid laden garden. The property has been a successful transient rental for many years and the other units are owner occupied and provide exceptional opportunity for rentals or owner use. Located in the X zone on a pretty tree lined street just two blocks off Duval this is a rare offering."

If you are looking for an investment property in Key West, this may be the property you have been seeking to find.  It has the features that should make it an ideal investment.  They include prime location just two blocks from Duval Street - about a five minute walk.. Elizabeth Street is a one-way street  one-half block from St. Mary's Basilica on Truman Ave. The Old Town Gym is a couple blocks east of the church. There are numerous spas, eateries (fine dining and el cheapo) within
easy walking distance.

The property has three off street parking spaces including one covered space. That's a rarity indeed. Since Elizabeth Street is a small one-way residential street, you won't have much traffic to disturb your peace. The lot measures 50' by 154' or 7,700 sq ft.  What looks so small in the above photos is actually two separate homes with a beautiful sunny pool separating them.

910 Elizabeth Street, Key West is offered for sale at $2,800,000 including the Transient License.  CLICK HERE to view the Key West MLS database and Listing Photos of this incredible property. 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. This property is licensed to make money.

527 Fleming Street, Key West - Transient Licensed Property

 

Just Listed by Preferred Properties Key West - 527 Fleming Street, Key West. This historic property is located in the Historic District just one-half block east of Duval Street. While it is referred to as a "mixed-use property" which includes retail space on the first floor, an apartment on the second floor, and a guest cottage with a valuable Transient Rental License at the rear, it has been "home" to the current owners for more than thirty years. If you are a buyer and get a chance to see the inside, you will appreciate the care and attention to detail the owners have put into this property. I say "chance to see inside" for good reason - I expect this property will be purchased within a couple of days of hitting the MLS.

I dug down into my old shoebox and found the three black and white photos above which show 527 Fleming Street in several decades ago. The top photo was taken in 1965.  It shows the house when the second floor front porch was screened. The middle photo was taken in 1940 from the La Conch Hotel looking eastward down Fleming Street.  The bottom black and white was also taken from the La Conch Hotel looking down Fleming in 1965. One of the two houses to the west of 527 Fleming Street was relocated to Key Lime Square in the 600 block of Duval Street.  The eyebrow house presumably relocated to another location. Fausto's Grocery appears for the first time in the lower photo.

The street presence cannot be understated. It is magnificent. This Revival style home is the archetype would-be buyers aspire to own. The first floor has been a needlepoint shop for several years. The interior includes Dade County Pine walls, high ceilings, and two-over-two windows. The original interior staircase was removed years ago. The owners occupy rooms at the first floor rear including a bedroom with French doors that open out to the pool. An exterior staircase was added on the right side of the house which provides access to the apartment on the second floor. There is an interior staircase in the apartment that leads to the third floor bedrooms and bath.The previously screened second floor porch is now open. The first and second floor front porches provide lots of people watching opportunities.

The property across the street at 532 Fleming Street was originally the Louise Maloney Hospital. Folk Artist Ronny Bailey created the artwork featured above depicting the building in earlier times.  CLICK HERE to read my blog about that property.

I was simply awed the first time I entered the second floor apartment.  It's sort of a throw back to the the interior renovations made during the 1980s and early 1990s - a time before quartz counter-tops, vessel sinks, and designer this and that. The original Dade County Pine walls have been white washed or painted and framed by custom trim work, crown molding, and high base boards painted crisp white.

I checked the Historic Sandborn Firm Maps to determine the age of the building. The 1889 map showed a grocery store was located at the corner of Fleming and Simonton Street. The black and white photo shows a gas station at that location in 1965. Today that space is a Chinese restaurant. 527 Fleming Street remains in place and looks better than ever. CLICK HERE to view more photos of 527 Fleming Street Key West.

 CLICK HERE to view the Key West MLS datasheet and listing photos of  527 Fleming Street, Key West, offered at $2,675,000. Then contact me, Gary Thomas, 305-766-2642, to arrange a personal showing. I am a buyers agent and a full time Realtor at Preferred Properties Key West.