1445 South Roosevelt - Coconut Mallory Penthouse - Key West

Unit 201 is located top floor right with parking below. Only 2 units per floor.

I have written about this particular property twice before. I think this particular condominium has a lot to offer a potential second home buyer looking for a place that can be legally rented to help defray part of the cost of ownership.

This is how the listing broker describes Unit 201 at Coconut Mallory Resort and Marina, a condominium located on the eastern edge of Key West:

" Boat slip & transient license! Second floor unit boasting an open floor plan with water views. Elevator access from pool area to private wrap around balcony accessed from living area and bedrooms. Recently renovated kitchen and baths. Offered fully furnished ready to move in today or start earning rental income. Dock Fees associated with the boat slip are $1,140.00 paid one time annually. Condominium Fees paid monthly include all utilities, electric, water, sewer garbage & cable along with exterior insurance and building/common area maintenance.

This unit sits on the top floor and has water views of the Cow Key Channel that separates Key
West from its nearest neighbor, Stock Island. This channel provides instant deep water access to boaters and fishermen. There are only two units on the second floor and they each have large wraparound balconies on three sides. The views from this unit include the adults only pool to the north, the water to the east, and the timeshare units to the south. There is a second family pool and spa plus a really cute playground for the kids on the opposite side of the timeshare buildings. There are two units on the floor below and covered designated parking at ground level.
Coconut Mallory has 1126 square feet of newly remodeled interior space and wrap around covered lanais. The living room and both bedrooms have immediate access to the lanais and this makes the interior spaces seem even larger. The are no neighbors across the courtyard or next door to watch your every move. The only "neighbor" occupies the west one-half of the floor and that unit has no view. The neighbors to the south, east, and north are open skies, some palm trees, and the waterfront where the Coconut Mallory Marina is located CLICK HERE and CLICK HERE.

This unit has a real killer view of the adults only pool just to the north. (There is another pool that does permit children. That pool is secluded and surrounded by palm trees.)
Unit 201 has a large covered parking space with easy access to the enclosed stairway or elevator. That means you do not need to get beat up by the occasional rainstorm or blistering heat when you are bringing in the groceries. There are no bowling alley long hallways or tourists to dodge on scooters zooming around the parking lot. When you are home, you are home.

The interiors were very recently tastefully renovated to provide both utility and style. The space was designed for a lot of potential use but it looks great. I will be happy to send interested buyers more photos. Email me at kw1101v@aol.com.

Everything is new.CLICK HERE to read the details on Unit 201 and view more mls photos. The new owner can rent the unit or not as he or she decides. But on-site management is available. CLICK HERE to look at the snazzy property management website and take a look at the photos of the amenities offered. Then you will get an idea why I really like this property.

This unit was originally priced at $550,000 and it is now offered at $425,000 or $377 per sq ft. But keep in mind that the price includes a valuable TRANSIENT RENTAL LICENSE and a BOAT SLIP. I did a quick search of other two bedroom condos and townhomes priced at or under $425,000 to see what else is available for comparison sake. CLICK HERE to compare.

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

919 Southard Street Renovation Project - Key West

I wrote about 919-921 Southard Street a few months ago. It is still sitting there, unsold, on a great block in the middle of Old Town Key West awaiting someone with a creative eye and a big billfold to turn this property into something really special. The new asking price on this property is now $569,000 or $365 per sq ft.

The listing agent describes this property this way:

"Charming location and charming price on wonderful Southard Street. 3 legal units could easily be converted back to single family for the creation of a wonderful estate. In heart of Old Town and midst of multi-million dollar properties! House sits on one side of Double lot which provides room for expansion. In Bank Trust. Sold AS IS; Current incomes are month to month as follows: 1. 2/1 Rear down $1100 2. 1/1 down $900, 3. 1/1 up $850. Owner pays water sewer, and garbage."

I have shown this property a few times. It has been carved up and chopped up into small apartments. They work okay, but the location and size of the lot really ache for a new house to compliment the location. Cost of renovation is probably too expensive to make a remodel efficacious. The apartments would still be small and the rent one would get could not justify the effort or money.

But I think the location does justify spending money to demolish as much of the existing structure as HARC (Historic Architecture Review Commission) would allow. I'm thinking everything behind the facade should get demolished. The lot is very large (51' X 100' or 5075 sq ft). There is plenty of room for a large new single family home, pool, garden, and off street parking.

CLICK HERE to read the mls listing info and see more photos of 919 & 921 Southard Street.

If you are looking for an investment property or a renovation project, this is a place you might want to look at. Tenant occupied so advance notice is required. Please call me, Gary Thomas, 305-766-2642 to schedule an appointment. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

The House on the Hill - Old Town - Key West

604 Elizabeth Street sits atop Solares Hill in Old Town Key West

The Perfect Perch to People Watch

I guess I have written too often about the importance of location because so many potential buyers snub perfectly nice homes because sometimes they are located in sometimes challenging locations. The house at 604 Elizabeth Street which located near the tippy-top of Solares Hill (the highest point in Key West) could not have a better location. The house is located two blocks from Duval Street and just steps from Southard Street. So it's a quick walk to the shopping, restaurants, and nightlife but not near enough to hear it.

The neighboring houses CLICK HERE are a mix of super-expensive to moderate, but nothing cheap. The house directly behind 604 Elizabeth Street at 620 Southard Street CLICK HERE is on the market for a mere $12,800,000. Not a typo!

This is how the listing Realtor (who is also the owner) describes 604 Elizabeth Street:

"Now is an even BETTER time to buy what is perhaps the perfect house in the perfect location, the 600 block of Elizabeth Street, 3BR/2.5 BA, very near Solares Hill. Recent renovations with easy island living in mind, granite counter tops, stainless steel appliances, dense foliage,heart shaped cocktail pool for those romantic Key West evenings, off street parking, open living/dining area, and much, much more. Must be seen to be appreciated."

The Pool!

You enter the property through a white picket fence into a brick paved courtyard complete with a bubbling fountain and gated off street parking. There is a two story front porch that is perfect for people viewing and navel contemplation. (The yard isn't all that large so you will have time to contemplate something.)

When you open the front door your eyes immediately take you to the three sets of French doors that open onto the pool at the rear. The present owner replaced just about everything in this house which was originally constructed in 1997. (Not a typo.) All the materials are high-end and the quality of the materials and workmanship shows. Photos of the entry and rear follow.

The owner removed one interior wall at the top of the stairs to create an open office area (wall could be replaced to restore use as bedroom) with access to the second floor front porch. There are three or four transoms between the office area and the master bedroom at the rear that create a clever source of additional (but subdued) light in the master bedroom. The master bedroom has a little Romeo and Juliet balcony where you can peer down to the pool. The master bath and closet were totally revamped and the result is two great spaces that you normally do not see in Key West houses in Old Town. This house actually was designed to be lived in. There is a third bedroom also on the second floor and that has its own door onto the front porch.

CLICK HERE to see the mls listing page and to view more photos of 604 Elizabeth Street which is now offered at $1,095,000 or $698 per sq ft. The house has 1568 sq ft of real living space situated on a 2528 sq ft lot (79' x 32') in a great Old Town location. If you would like to see this really attractive home, please call me, Gary Thomas, 305-766-2642. I think you will be in for a very pleasant surprise. I can email you more photos if interested.

CLICK HERE to search the real Key West Association of Realtors mls database. No one (including me) will track your moves on the Internet or send you emails by using this official site. If you see something you like, please call me or send me an e-mail at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty Inc, an affiliate of Christie's Great Estates.

No Regrets, please! Key West

When I am not busy showing property, I am sitting at my desk watching my emails and checking the mls as properties new properties get listed and existing properties go under contract or get sold. Some agents have a life and do other things, but I mostly sit at the computer and try to find properties for my buyers. Finding buying opportunities is getting harder and harder. The market of available properties in Key West priced under one million dollars is drying up.

Most of my buyers live elsewhere and are looking to purchase a second home in Key West. In the past year I had two potential buyers for whom price was no object. They wanted places with all the bells and whistles and the very best location. I showed both parties pretty much the same properties and neither bought. I coulda used the deal guys! But most of my buyers, even the wealthy ones, have been looking for value and have zeroed in on price.

Most of the prospective second home buyers have set a budget of $500,000 or less. There are 19 such properties available today. CLICK HERE to see what half a million bucks will get you in the Old Town and Casa Marina areas of Key West. Without going into specifics let me just say that I have shown many of these houses. Some are really cute and sweet and ready to move into. And a couple are just plain awful. (There are more houses available in the midtown and newtown areas, but most second home buyers won't consider those locations.)

There are 68 single family houses available in the Old Town and Casa Marina areas priced between $501,000 to $999,000. The list is too large to post but you can do your own search. Just CLICK HERE to set your price range and location to search the Key West mls database.

There are some very nice homes available in the above price range. But getting buyers to look there and seriously consider buying in the half million dollars and higher price range is a different matter. Almost every potential buyer has already done his or her homework and comes to Key West with expectations of what is available and what the property ought to sell for. Many come expecting to get a bargain deal on a bank foreclosure or buy a short sale for next to nothing. Life does not work like that. Here or anywhere else. Especially not here!

Nice listing photos and Google Maps can make some properties look more enticing than they actually are in real life. Once you get the chance to smell a place that reeks of cat urine you understand why it has been on the market for months on end.

Then there are properties that are locationally challenged. Just because a house is located on a busy street during the weekdays during the daytime does not mean it should not even be considered as a place to buy. Some potential buyers won't look at homes that are located within view of the Key West cemetery. That cemetery takes up a mighty big piece of Old Town and some buyers are really missing buying opportunities when they exclude homes based on nearness to the departed.

As the housing market for secondary homes priced below a million dollars continues to shrink, don't get squeezed out by being too tight or too demanding. I know it is easy for me to write that another $50,000 isn't a lot of money. It is if you don't have it. A $50,000 increase in purchase price might result in increasing a mortgage by $270 per month. But that extra $50,000 might result in your getting the place you have dreamed of owning in Key West versus getting something inferior or not getting anything at all.

Don't end up like the guy in the cartoon above and end up regretting that you failed to buy a house in Key West before the price of houses goes up. Please call me, Gary Thomas, 305-766-2642, to help you find that special place in Key West. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

Affordable Key West "Getaway" Condo

804 South Street - Key West

Your view while doing the dishes! Sure beats looking at snow or trailers!

I found the just perfect spot for the buyer that wants an inexpensive but nice Key West "Getaway". It is located near Duval Street and the beaches. It has an incredibly beautiful pool and off street parking. It is in really nice condition, has a new kitchen, private washer and dryer, front porch to watch the cavalcade of Key West loonies and a private second floor balcony where you could dine or suntan al fresco.

The al fresco rear second floor deck. Total privacy.

This is how the listing Realtor describes 804 South Street Unit #3:

"Rare second floor unit at desirable Southpark Condominiums with hard wood floors and whole house audio system. 1BR/1BA with a large deck off the bedroom with a retractable awning. There's a new kitchen with dishwasher, stainless refrigerator, Bosch washer and dryer, and a travertine tile floor. Southpark offers a large heated pool, storage, laundry facilities and assigned off street parking."

CLICK HERE to read the listing info details and view more photos. This 640 sq ft one bedroom unit is offered at $325,000 or $508 per sq ft. I have shown this place a couple of times and I think it is a really attractive place in a very good location. The Casa Marina Resort and Higg's Beach are a three minute walk. Duval Street and South Beach are maybe a five minute walk at most. (This unit is NOT a short sale nor is it bank owned. The seller has purchased a larger property and wants to sell this unit.)

The pool area is share by three buildings that each have four units. All the units are the same except for being first or second story units. This unit is on the second floor. The rear gardens are just plain beautiful. The walkways lead to the inviting pool near the east end of the property. There is a great sunning area to boot. A cottage at the very far end has individual storage lockers for each unit as well.

This unit would make a great full time residence for a single person or couple. And because the price is so affordable, it would make a great getaway. If you are looking for a good deal on a small place in Key West, please call me, Gary Thomas, 305-766-2642 or contact me by email at kw1101v@aol.com. 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.

1320 Grinnell Street - Casa Marina Beauty

1320 Grinnell Street - Casa Marina Area - Key West

I frequently write about homes in the Casa Marina Area. I know the area well. That is where I live. I am always advocating that potential buyers look in this area because the area has so much to offer. Won't you be my neighbor?

Just listed, but not by me, 1320 Grinnell Street which is offered at $2,850,000 or $1,001 per sq ft. This is how the listing Realtor describes this home:

"Modern tropical designer home with natural stone, bamboo, and hardwoods. Walls of glass doors open for breathtaking views from every angle of the living and dining area. Top-flight kitchen designed for entertaining and a DCS outdoor kitchen just a step away. First floor master suite with den and double bath opens to private deck with hot tub. Upstairs guest bedroom suite with relaxing area overlooking the pool. Outdoor living room under the lanai has a gas fire pit in the waterfall and sweeping views across the pool to the main home. Separate guest home with loft. Two parking areas for multiple vehicles. Day or night, this home is magical in every detail.

The property was totally renovated and expanded in 2006. Today the property has 2848 sq ft of living space that sits on a large 5992 sq ft lot (74' X 80'). I live nearby, and I watched the construction as it went on for months and months. The Casa Marina area is known not only for its dissimilarity to Old Town but also for its proximity to Old Town and other important Key West destinations. Here the lots are large and the houses are separated by large spaces. While there are a few great Conch houses in the area, most of the homes were built or renovated after the 1950s. . There is nothing "cookie cutter" about Casa Marina area architecture or the neighborhood. CLICK HERE to view some fabulous photos of this special property.

This house is located at the corner of Seminary and Grinnell Streets. Most of the streets in the area do not have curbs and gutters so the area has retained it's country feel somewhat. Perhaps as many as 50% of the homes in this area sit behind large six foot privacy fences with tricked-out entry gates and ornamental shrubs that make each property unique. 1320 Grinnell Street is open to the street with only the space between the main house and the guest cottage fenced from view. I guess one could say that it has "No curb appeal" and get away with that being a genuine compliment.

1320 Grinnell Street is a two minute bike ride south to Higgs Beach, the Casa Marina Resort, and Louie's Backyard. The Island Gym is a two minute bike ride to the east where you can get fit and trim. Faustos Grocery is located nearby on White Street as are a bunch of neighborhood coffee shops, restaurants, and the Dairy Queen. I can usually drive to the airport in about seven minutes from my house. Old Town is a quick bike ride and maybe a 10-15 minute walk depending on where you want to go.

If you are looking to purchase a very sophisticated home in Key West and are not stuck on having to own a "conch house", please call me, Gary Thomas, 305.766.2642, to arrange a showing of 1320 Grinnell Street. I am a full time Realtor at Preferred Properties Coastal Realty Inc. in Key West, Florida. I live in the Casa Marina area and I love it. Won't you be my neighbor?

811 Carey Lane - Old Town - Key West Cottage

811 Carey Lane

From 811 Carey Lane (left) looking east toward Margaret Street

The asking price on 811 Carey Lane just got better: reduced to $649,000 or $605 per sq ft. This is how the listing Realtor describes this charmer that is located on one of the best little slow lanes of Key West:

"Located in an area of million dollar properties, this charming home has an exceptional location on one of Key West's most desirable lanes. You'll find peaceful tranquility and the Key West ambiance you're looking for in this home. Open living and renovated kitchen, dining room, good storage, outdoor shower, covered porch for lounging and lovely gardens complete with inground hot tub. House opens beautifully to the well-kept gardens and outdoor areas. Excellent condition with 4 ductless air units. Fall in love with this fun and artistic quintessial Key West cottage."

The cottage is almost 1100 square feet and has two bedrooms, two bathrooms, a new kitchen, and it just oozes charm. The ceiling in the main living area is vaulted with exposed wood shingles (covered by metal on the exterior). The ceiling is really dramatic. The living, dining and kitchen area are just captivating. Although this cottage has two bedrooms, neither bedroom is really large. There are two bathrooms plus the essential outdoor shower. The existing outdoor covered porch is so inviting and relaxing. There is room for a good sized pool. The rear of this property abuts Carsten Lane. So all one need do is take down the fence, bring in a backhoe, dig out the dirt, install a new pool for about $25,000, and put the fence back up.

Carey Lane is a one block lane that runs perpendicular between Margaret Street and William Street and just south of Southard Street. It is within walking distance of everything Old Town has to offer, yet you almost need a map to find it. The five homes on Carsten Lane abut Carey Lane to the rear. Each of the houses on Carey Lane and Carsten Lane run through to the other side. Some front on Carsten Lane and the rest have that super valuable Carey Lane address.
Here are some photos of neighboring cottages.

810 Carey Lane (pictured above) is opposite of 811 Carey Lane

811 Carey Lane is at far end of the lane on the right

Neighboring cottage on Carsten Lane

811 Carey Lane is one of my favorite little houses in Key West. It is very simple. It does not need any fixing.It has room for a pool, but a pool is not necessary to everyone. CLICK HERE to view the mls listing info sheet and to view more photos of the cottage.

811 Carey Lane has a great location. Conch trains and trolley cars will never bother the owner. Tourists on motor scooters and bikes probably won't even know it exists. Life goes on in these special little island oases within the island that is Key West.

Yet the property is only a two minute walk to the corner of Margaret and Southard Streets. Five minutes more and you are on Duval or at the Historic Key West Seaport. So close and yet so far away. If you are looking for a place in Paradise, please consider working with me, Gary Thomas. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

Key West - Bank Owned - Open House

1502 Petronia Street, Key West, Florida

I am hosting an Open House on Sunday, January 3rd between 1:00 to 3:00 PM at 1502 Petronia Street in the Meadows Area of Key West. CLICK HERE to see the mls listing info and to view photos of this unit. This property is Bank Owned and it is priced aggressively to sell at $975,000 or $568 per sq ft. This property is a listing of our office and the listing broker describes the property this way:

"This stunning home is part of The Meadows condo association. Newly built in 2007 with top of the line materials and craftsmanship, this home features soaring 14' ceilings in the living area. The kitchen is top of the line with s/s appliances, beautiful granite and solid wood cabinets plus a wet bar in the living room. The bedrooms are en suite with impressive architectural details including crown molding, high ceilings, porches and solid wood doors. A private, gated drive leads to the carport and a separate entry to the pool area. Completely fenced and beautifully landscaped, this home is also perfectly located."

I created two comparison samples so that potential buyers can compare this property to other similarly priced and located properties. CLICK HERE to see that list

The second comparison was created to compare this property with similar units that were constructed about the same time (or later) but that are priced much higher. Nothing constructed then is priced lower than these units. CLICK HERE to view those properties.

Happy New Year !

Bank Owned - Key West - No Snoots Need Apply!

Just listed, but not by me--again!, 2521 Patterson Avenue in the Mid Town area of Key West. CLICK HERE to see the mls listing info and listing Realtor provided pics. But read on dear reader.

This Bank Owned house is a modular home and it was newly constructed in 2005. I gotta tell you, I was really taken by this house. Not because it is Key West cute. It certainly is not the quintessential Key West cottage. But this is a big house with a lot of real living space for a family. The layout is thoughtful and utilitarian. Each of the four bedrooms has its own bathroom. The master bedroom occupies the full front of the second floor. It has a large sitting room adjacent to the bedroom. French doors open from the master bedroom onto the second floor balcony. The master bath is quite large and has a Jacuzzi tub and separate shower. Two other large bedrooms each with en suite baths are also located on the second floor.

The main level has a good sized living room, separate dining room, large kitchen, laundry room, and a large bedroom with en suite bath complete with French doors open onto the main level front porch. There is a nice back porch that leads to a large backyard with enough space for a big pool. There is also a magnificent shade tree to cool the house in the hotter days of summer.

In today's blog title I said "No Snoots Need Apply!" That's because this is a working class neighborhood. Regular Key West families live here. Patterson Avenue is one block south of US 1. The neighbor to the rear is the Conch Plaza Shopping Center. (The Key West Yacht Club) is across the street from the shopping center for point of reference.) This house is one of the nicest homes on the block. Many of the other houses were built in the 1960s or later. They are not fancy. And they probably won't be fancy for years to come.

This house is priced to sell at $314,820 or $162 per sq ft. This 1944 sq ft house sites on a large 5000 sq ft lot. The house has storm shutters, crown molding, and many features you will not find in a similarly priced home with a fancier address.

Call me, Gary Thomas, 305-766-2642 to schedule a showing of this house. It is easy to see. I am a full time Realtor at Preferred Properties Coastal Realty Inc. in Key West, Florida. If you want a good deal, this is the one. CLICK HERE to search the real Key West Association of Realtors mls website. Search single family homes priced at $320,000 or less. You will quickly see why this particular house is a good deal.