Bank Owned - Office Building - Key West

Just listed, but not by me, a Bank Owned Office Building located at the very entrance to Old Town Key West. The listing agent describes the property this way:

"Bank Owned Property priced to sell! First Building to be seen from US Hwy 1 driving West into Old Town Key West. Highly visible office building with parking on Truman Ave (US Hwy 1). Property was renovated in 2002. Reception, private offices, kitchen area, ADA compliant bathrooms."

1511 Truman Avenue is located at the intersection of Eisenhower Drive and Truman Avenue. Bayview Park (Key West's main city park) is located across the street. While the building has four parking spaces, there is abundant on street parking across the street which could me most helpful for a busy office or retail location. Patients, clients or customers could use park facilities while waiting to see doctor, business professional, or whoever. If the interior partition walls were removed, this would be an excellent building and location for a gym. The view from the inside looking toward the park should make working there a joy.

Abundant on street parking across the street

The listing agent says the building has 3354 sq ft of interior space that sits on a 101' x 42' lot (3963 sq ft lot-numbers taken directly from Property Appraiser's website).

The reception area is exceptional. Any business professional would love to have a reception area like this. No renovation money needed here. There are several existing offices and meeting rooms that could work well for many business types without requiring much remodeling. There is one very large uni-sex bathroom; somebody should have thought better about that! CLICK HERE to view lots of photos I took of the building just a couple of weeks ago when it was tenant occupied.

Reception area looks out toward Bayview Park across the street

Even though this building was remodeled only a few years ago, it has two problems that a buyer should consider. First, there are several noticeable stains in ceiling tiles which indicates the roof has problems. I noticed one huge problem in a conference room. (See photo below.) Second, there is a bit a spauling on the outside. That is a common occurrence in poured concrete buildings in Key West. A building inspector can advise a potential buyer as whether this warrants concern. A new owner might want to tone down the exterior paint colors, but otherwise, this is a very attractive office building. There is lots of space and abundant daylight.

Conference room leak

Minor spauling

1511 Truman Avenue is a Bank Owned property that is priced to sell at $574,500 or $171 per sq ft. This is a property definitely worth looking at quickly. Please call me, Gary Thomas, 305-766-2642 to arrange your showing. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

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The Top of Solares Hill - 630 Elizabeth Street - Old Town - Key West

Turn this OLD HOUSE int0

Your NEW HOUSE

I just listed 630 Elizabeth Street at the top of Solares Hill in Old Town Key West.


I found a few old photos of the immediate area to share with my Readers.

Tony's Grocery in the 1960s - located across Angela Street

Same location in the 1970s but you can also see 630 Elizabeth on the right

Photo taken by WPA in the 1930s shows 630 Elizabeth St on left and Tony's on the right

Most of the funky old houses in Key West have been restored over the years. Most, but not all. A prior owner who was also a Realtor said 630 Elizabeth was a general store in the late 1800s. Most recently it was used as a duplex with an apartment with multiple bedrooms down and a larger apartment upstairs with a separate entrance. The current owner has obtained HARC approved plans to convert the building into a single family residence. When completed, the house at the top of Solares Hill will have a commanding view of much of Old Town.

Views from second floor looking down onto Elizabeth Street and Windsor Lane

The plans provide for 2300 sq ft of living space on two floors plus conversion of some attic space. HARC even approved a rear third story porch off the rear. The HARC approved architect's plans convey with purchase.

The third floor is larger than many cottages in Old Town -what space!

If you are among the many who unsuccessfully tried to buy this historic old home a few years ago, you now have a second chance. 630 Elizabeth Street is offered at $449,000. CLICK HERE to see the Key West mls database and to view more photos.


630 Elizabeth Street is easy to see. Just call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

817 White Street - Key West

Here's a Sleeper-really. This Key West legal duplex located at 817 White Street is a quiet little money maker. It is offered for sale at $595,000. You may have missed it in your searches of Key West real estate because most potential buyers only search for single family houses.

817 White Street - The Meadows Area - Key West

The listing Realtor describes the property thus:

"Well-maintained, comfortable duplex in the Meadows. 817-B is rented long term for $1,250 per month. Tenants are on month to month lease. 817-A is rented as a monthly vacation rental for $2,000-5,000 per mo., and has sole pool privileges. Offstreet parking for 2 cars. Both units share washer/dryer. The floor plan is a mirror floor plan."

817-A White Street is the vacation rental unit which has sole use of the pool

Both units have private off street parking

CLICK HERE to read the Key West mls listing info. Better yet, call me, Gary Thomas, 305-766-2642 to schedule a showing of this very clean legal duplex. This might be the perfect vehicle for a couple looking for a money maker they can use to help pay mortgage costs and also have some personal space to use on occasion. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. Wouldn't it be great to make money while you sleep-in Key West.

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Sitting Pretty - 526 William Street Unit # 4 - Old Town - Key West

526 William Street - Old Town - Key West

Just listed by Preferred Properties Coastal Realty, Inc., (that's where I work) 526 William Street Unit No. 4, a second floor condominium in the beautifully restored and centrally located Delancey Hall building in Old Town Key West. Each unit in this five unit building is unique. Unit #4 is a smart one bedroom located on the second floor front. It shares the front balcony that has a commanding view overlooking William Street. The listing Realtor describes this property this way:

"In the heart of Old Town Key West is this beautiful Historic Home, that has been converted into 5 units, this particular corner unit is bright and airy, with balcony access on William Street. It has one bedroom and one bathroom with a great kitchen/living area. Kitchen has beautiful wood cabinets and granite countertops. The floors are all Brazilian Purple Heart hardwood flooring, Dade County walls, custom ceramic tile shower,crown molding and high ceilings. You would be 3 blocks from Duval and 3 blocks from the historic waterfront."

Unit #4 is second floor left side

Delancey Hall is one of the very best renovations I have seen in Key West. The quality of the workmanship and the superior interior finishes look as good today as they did ten years ago when the original renovation was completed. Buyers that work with me know that I am quick to point out shoddy construction and poor workmanship. Nobody should pay good money for unprofessional construction. Each Delancey Hall unit was built to high quality standards.

Unit #4 is located on the second floor front or William Street side of the property. The one bedroom unit has 550 square feet of interior living space (almost the same size as some two bedrooms at Shipyard). It occupies the south side of the building so you will have good light and not a lot of neighbors. The second floor front porch is your outdoor space. CLICK HERE to see the Key West mls database and to view more photos of this unit.

Offered at just $299,000 unit #4 would make a getaway place for quick trips to Key West or as a permanent home for a single person. The property has the necessary amenities (pool included) and a great Old Town location to make it worth your while to view. No need for a car because everything you want is within walking distance.

Mangia Mangia located at Southard & Margaret

You can get your daily gossip and cafe con leche at Five Brother's

Locals and frequent visitors know the value of a good location, and 526 William Street is located in the very heart of the Historic District. The Key West Seaport is three blocks to the north. There are lots of great restaurants and water based activities there. Duval Street is just a five minute walk to the west. Mangia Mangia is a block to the east at the corner of Margaret and Southard. Five Brothers is located one block further to the east where you can get your morning gossip and cafe con leche at the same time. Fausto's Food Palace is three blocks west on Fleming. Fausto's has a great wine selection plus one of the best real butcher markets in Key West. And Fausto's always has fresh sushi. One-half block off the corner of Duval and Eaton you will find the Tropic Cinema, a hangout for the elite of Key West. The point is you can eat and greet and meet just about anywhere in Old Town within a few minutes walk of bike ride.

Tropic Cinema is on Eaton Street between Duval and Whitehead

If you are looking for a very nice and affordably priced condo in Old Town, you owe it to yourself to take a look at 526 William Street unit #4. Please call me, Gary Thomas, 305-766-2642 to arrange a showing. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. If you buy 526 William Street #4 you will be sitting pretty in Old Town Key West.

Your Second Chance to Become Hemingway's Neigbor

Ernest Hemingway's House shown as it appeared in the 1930s

Arrow points to 405 Olivia Street

405 Olivia Street - Bank Owned - Key West

You don't get many second chances in life. So when one pops up, consider it and then act if you regret a previous procrastination that cost you something you truly wanted. If you are among the several potential buyers who called me about the house across the street from the Ernest Hemingway House in Key West, you just got a second chance to become Hemingway's neighbor. I am here to report that the Bank Owned house at 405 Olivia Street is back on the market and available for purchase. The asking price is $450,000.

The two story house was built around 1890. The county records show the house has 1380 sq ft of living area, however, I looked at the building map and it appears the house actually has 1740 sq ft of living area. (A proper measurement is recommend!) The lot is almost a rectangle of 89' (length) X 55' (wide) with a small cutout at the left rear. 405 Olivia Street has a big lot with room for a good sized pool, more gardens on the west, north, and east side. In my opinion the existing carport is an eyesore. The space could easily be redone and made attractive and useful.

405 Olivia Street as it appeared in 1965 - notice the porch columns

405 Olivia Street in 2011

This photo demonstrates the width of the side yard which is 89' deep

The lot is 55' wide

Whitehead Street and Olivia Streets (Duval Street is one block to east)

I was very disappointed with the inside space. It has been "updated" but poorly so in my opinion. There are saltillo tile floors down (totally WRONG!) and acoustic tile ceilings (WRONG again). There is just one bath located downstairs at the rear of the kitchen. The three bedrooms upstairs are oddly configured. The saving grace in the house is its size. Key West houses are easily (if not cheaply) renovated. There is lots of room to be creative. And the second story front porch has a view of Papa's former home. CLICK HERE to view more photos that I took.

Stuff like this makes you wonder what possessed the person that "added" this tile

Could you create a better space?

Second story front porch

Hemingway's backyard

If you buy this property your neighbors will include the Ernest Hemingway House (museum) which has thousands of visitors all year long. The entrance to the museum is on Whitehead so most of the visitors won't be passing your doorway. A parking lot is located immediately adjacent to the west and a simple Key West cottage is the neighbor to the east. The Six Towed Cat cafe is located at the rear. The Lighthouse Court guesthouse is located on the far side of Whitehead Street and a small public housing structure is on the opposite corner. See the photo below taken from the nearby Key West Lighthouse. It gives a decent perspective of the area.

Corner of Whitehead & Olivia as viewed from atop KW Lighthouse

Ft Zach Beach

The tourists normally head north to Mallory Square in the late afternoon so they can view sunset. They don't return to the area until mid morning. The area turns into a regular neighborhood to the extent possible during that time. Yes, tourists bring people walking down the sidewalks with cameras and cellphones. And lots of money, too.

Ft. Zach Taylor is just a few blocks walk. So are the restaurants, bars, shops galleries, and other hangouts on Duval Street. I can see why someone paid over a million dollars for this house and this location. Today you can buy it for less than half the recent sales price.

You don't get many second chances in real estate. If you missed this before, don't miss it now. If you are interested in this bank owned property or any other house in Key West, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.