The listing agent on 1104 - 1106 Thompson Street describes this incredible property this way:
"Fantastic Deal And A Great Location! Would Be Perfect For An Investor Or Someone
Who Could See The Potential Of This Property. Home Sits On Two Lots. It Is A 3
Bedroom 2 Bathroom 1,000.00 Sqft. Brick Cottage That Needs Tlc. Seller Is An
Architect And Is Willing To Draw Plans If Buyer Wishes To Build A New Home Or To
Re-design The Current Home. Bring All Offers."
The site is located on the corner of Thompson and Catherine Streets.The property consists of
a 1000 square foot CBS and stucco home that sits in the middle of two separate lots. The owner had a building permit and plans for the construction of a 428 square foot accessory unit. The city would allow a 600 square foot accessory unit if anew owner wants. A developer might even consider tearing down existing house and build constructing two new homes - one on each lot or
build a large single family home. Alternatively and much less expensive would be to gut the kitchen and baths and redo, add a pool and new outdoor living space. You would end up with a lot of space, an incredible beautiful tropical lot in Key West for about the same price as a low priced 680 square foot condo in Truman Annex. Now that, Dear Readers, is a bargain.
According to the Monroe County
Property Appraiser the existing house is 999 sq ft in size. That figure
does not include, in my opinion, the semi-enclosed Florida room that
adds another 200 sq ft or more to quality living space. The house itself
has three bedrooms and two baths. The house was built in 1954 (59 years
ago). A lot of 59 year olds get face lifts. It's time this house got
one. A new owner would likely gut the interior and redo the kitchen and
baths. If I bought the house I would add wind impact resistant windows
and doors to reduce long term wind storm insurance premiums.
The
lot is extra large - 94' x 101' or 9397 sq ft. The house is located about
20 feet from Thompson and about the same from Catherine. The yard on
both sides is densely landscaped with tropical foliage. The entire lot needs a good haircut. Potential buyers need to understand the value that the existing trees adds so this property. If you hired a landscaper to go up to Homestead to buy, haul, and replant a 9397 sq ft lot you would spend thousands of dollars in design, purchase, and planting costs.
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| west side yard |
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| gate to west side yard |
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| west side yard from rear of house looking toward Catherine St. |
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| east or front yard includes a ramp to deck off master bedroom |
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| north side or back yard |
The lot is obviously in need of some major clearing
and pruning. I might even
add new trees to the back and west sides to add more privacy from the adjacent public school. I would add a pool at the rear, however, there may be room for a pool on the south (Catherine Street) side of the property. The listing agent told me the school building on the north side houses administrative offices for the school.
Here is the best part - the asking price on
1104-1106 Thompson Street was just
reduced from $449,900 to
$385,000.
CLICK HERE to view the Key West Association of Realtors mls datasheet and listing photos. Please contact me,
Gary Thomas,
305-766-2642
or send me an email at
kw1101v@aol.com to schedule a showing or for more information on this unique buying
opportunity in Key West. (I have more photos that I can send to you.) I am a buyers agent and a full time Realtor at
Preferred Properties Key West. I think this could make a wonderful Key West tropical haven for the person who wants a tropical forest and no neighbors.
