812 Simonton Street, Key West - Two Transient Licensed Properties

Just Listed 812 Simonton Street in Key West, Florida. The listing Realtor describes this unique property this way:

"Fantastic multi-unit property with two transient licenses! Property is divided into two sections-812 Simonton is a 3br / 3ba while 812 Simonton Rear is a 1br/1ba. Great Old Town location in an X Zone. Owner financing possible! Multiple possibilities with this property. Perfect for an investor"

 The front building is identified as 812 Simonton Street. It currently has three residential units. The front unit is a small studio apartment. The middle unit is a much larger one bedroom unit which has a transient license attached. The rear unit  is an efficiency apartment which also has a transient license attached. The rear building (812 Simonton Street - Rear) has a totally separate tax identification number and could be sold separate and apart from the front unit. That building is a one bedroom unit with kitchen, living area, a laundry, and two bathrooms plus rear deck. The asking price for both properties is $1,295,000. CLICK HERE to view the Key West mls datasheet.

I found a couple of old photos taken fifty years ago that show the front house and rear cottage that make up this property. Even back then it appears the original wood front porch was removed and a cinder block addition added to provide a bit more living space. If you look at the top photo you will see a typical cigar maker cottage type building with a sawtooth addition attached. In the far rear you will see the outline of the rear cottage which appears clearly as a distinct unit the lower photo. The backside of St. Peter's Episcopal Church is seen to the far rear. Today the buildings appear to me to be pretty much the same. The exteriors are in much better shape and the interiors have been renovated for daily rental purposes.

The house next door to the south at 814 Simonton Street is very similar to 812 Simonton Street with a couple of exceptions. The front porch at 814 Simonton Street offers a perfect place to sit and watch the world go by whereas  812 Simonton would have to be restored to create a proper front porch. The front house has a similar sawtooth addition located midway. The cottage at 814 Simonton Street rear has been expanded to two stories and there is a pool between the front house and rear cottage at 814 Simonton Street. Unfortunately there is not enough space at 812 Simonton Street to create a pool.  Finally, the neighboring property has parking whereas 812 Simonton does not have parking.

812 Simonton Street (rear) is located at the rear of the lot and is accessed via a deeded walkway that flanks the north side of the property. The front house has an easement that provides access for the front one bedroom unit and the separate efficiency unit. The third unit in the main house has access off the front entry. The rear unit is gated and totally private.

Rear Cottage Interior

Rear Cottage Kitchen

Rear Cottage Bedroom with French Doors that Open out to Deck

Rear Deck

The rear cottage is a fully contained one bedroom house with living room, dining area, kitchen with adjacent (outdoor) covered laundry, bedroom, and rear deck. The living space has all been updated and ready for monthly vacation rentals. The deck area is very attractive and very private. There is room for a hot tub or maybe even a plunge pool. The building at the rear is the backside of St. Peter's Episcopal Church. 

Living Room and Kitchen of the Front Building

Front Building Kitchen

Front Building Bedroom

 The above photos show the living room which is accessed off the north side easement. Note the vaulted ceiling where the sawtooth addition attaches to the original front cottage. The kitchen is located to the rear. The front room is the bedroom in this unit. This unit is rented as a transient rental unit.

An efficiency unit is located at the rear of the front house. It is also accessed off the north side walking easement. It has a small kitchen, bath, and living/sleeping space. This unit also has a transient rental license.

A new owner might want to renovate the front building by restoring a wood front porch and perhaps incorporate the current efficiency unit into the existing middle unit and thereby create a single family front cottage with two bedrooms, two baths, one kitchen, and a very valuable transient rental license. I believe the new owner could transfer the second transient license to the rear unit.

Neither a pool nor parking is necessary to have a successful rental.  Both are helpful but not mandatory. This property has a very good location that is within easy walking distance to most Old Town attractions. The shops, restaurants, and nightlife on Duval is just one block away. You can't get much closer than that.

Please call me, Gary Thomas, 305-766-2642 to schedule a showing of these properties. I am a buyers agent and a full time Realtor at Preferred Properties Key West.This property is listed by Preferred Properties but not by me.

714 Olivia St #4, Key West - Bank Owned with Transient License

There is a new Bank Owned listing at 714 Olivia Street, Unit #4 in Old Town Key West that is something to cheer about - the reason is it has a very valuable Transient Rental License and is affordably priced.  The listing Realtor describes this property this way:

"Cottage style condominium with a transient license in Old Town Key West. The one level cottage has vaulted ceilings, tile floors, open floor plan and french doors in the living room and bedroom that open onto porches. The condo is being sold furnished. The Colony Condominium is a small community with a large beautiful pool and off street parking."

This is one of nine units total. Some of the units share a 'common wall' with an adjacent property. This his an historic property that was updated and expanded just a bit when the property was turned into condominiums. 

The deck at the front of the house looks off to the pool and the winding bricked sidewalk which leads to  the front entry.  There is also a private rear deck accessed off the kitchen were you might have a grill or lounge chairs for more private chilling or entertaining.

Unit #4 is a one bedroom, one bath condo with 526 sq ft of interior living space. It has a valuable Transient Rental License which permits daily, weekly, or monthly rentals. A new owner is not required to rent the unit at all, but having the viability to rent daily or weekly makes this particular property very valuable in the eyes of many. The condo fees are 1400 per quarter and cover trash, sewer,trash removal, building maintenance and insurance, and common area & pool maintenance.  This property in located in an excellent part of Old Town and could be easily rented throughout most of the year if the new owner wanted to do so.  CLICK HERE to see more photos I took.

CLICK HERE to view the Key West mls datasheet and to learn more info on this unit. Use the drop down menu for more info.  Then please call me, Gary Thomas, 305-766-2642, to set up a showing on this neat and well located property.  I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise.

Bank Owned - 107 Front Street #317 - Harbour Place Condominium - Key West Waterfront

Just Listed, but not by me, Units # 317 and #318 at Harbour Place Condominium in Key West. This property is actually two units which were combined to create this quite large top floor residence with direct ocean views of the Key West waterfront.  Even though Key West is a small island, you simply don't get views like this. And rarely do you get this much quality space and construction for the asking price of this Bank Owned property.  The listing Realtor describes this unit this way:

"Enjoy Spectacular Key West Sunsets From Your Own Rare 4 Bedroom 3.5 Bath Condo With Unobstructed Waterview In The Prized Truman Annex. Wood floors and carpet throughout unit. Large kitchen, marbled bathrooms w/ Jacuzzi tub, walk in closets and spacious bedrooms."

This home has 2580 sq ft of living space divided between the principal living areas which face the ocean and the bedroom areas on the rear side. Two large windows and a door with Plantation Shutters provide water views from the kitchen and the living area. The door opens out to the top floor terrace which has great views looking out toward the "outer mole", Sunset Key, and Ft Zach Taylor in the distance. There will never be a day when you won't have something new to see.  I took the photos below on Friday afternoon when the port was empty and the sky was a bit murky. In the not too distant future the City of Key West is going to create a new waterfront park in the open space viewed below. There will be some more trees and tropical foliage but no buildings to impede the view.

Two units were combined to create this top floor unit with 2580 sq ft of living space. The dining area sits in an alcove at the far end of the living area where there is a bar or serving area.

The kitchen opens out to the living room so the chef, be it a man or woman, will always have both a view and can be a part of what is going on in the living area. The combined laundry room and walk-in pantry are quite large. I noted extensive use of copper piping in this area.

Two of the three bedrooms on the city side of this unit have terraces. You will note that all rooms except the have crown molding. The living, dining, and kitchen have wood floors and the bedrooms are carpeted. The baths have marble and tile. All windows and doors have Plantation Shutters. CLICK HERE to view more photos that I took of this bank owned unit.

This unit has a valuable special Truman Annex Transient Rental License which allows for 25 weekly rentals at any time throughout the year.  CLICK HERE to view the Key West mls datasheet on this property which is offered for sale at $1,326,000 or $513 per sq ft. I showed a different unit in this same building a few weeks ago. It had only a city view and was priced at $750 per sq ft.

Please call me, Gary Thomas, 305-766-2642 to set up a private showing or to assist you in writing an offer on this buying opportunity. I am a buyers agent and a full time Realtor at Preferred Properties Key West. This bank owned unit will not last long.  It sold for $2.8 million in 2005.  Somebody is going to snatch this property.