518 Elizabeth Street - Old Town - Short Sale

518 Elizabeth Street - Old Town - Key West - July 7, 2011

This is another 'just listed but not by me' blogs. But this is one you bargain hunters ought to consider acting on quickly, because it will likely be under contract within a couple of days. 518 Elizabeth Street is offered as a short sale at the asking price of $425,000 or just $152 per sq ft. CLICK HERE to view the Key West mls datasheet. Note the listing states that this property has a Transient Rental License.

I dug into the old shoe box and found the photo of 518 Elizabeth Street (above) that was taken in 1965. The Monroe County Property Appraiser claims 1924 as the year of construction, but other nearby houses are much older. The first house I sold in Key West is located two doors to the north at 514 Elizabeth Street. It was built in 1855. Loyal readers know that the county records were reconstructed by members of the WPA during the Great Depression (the one before the current). The records are not always 'correct' as to date of construction on many of the older properties. Construction dates on many older properties are derived from the dates the building first appeared on any number of city maps. The county shows 518 Elizabeth Street as having 1720 sq ft of living space (not including porches). The building sits on a large lot for Old Town (32' X 102') or 4051 sq ft. Note that the listing Realtor cites the property as being 2794 sq ft in living space. I have no way of reconciling the difference between the county records and the agent's datasheet.

518 Elizabeth Street is hidden behind a huge orchid tree

Readers may recall that I wrote about this block in February 2010 when the Gentle Touch Cleaners (510 Elizabeth Street) was razed to permit the construction of a new single family residence. CLICK HERE to read what I wrote then (and view pics) because it is illustrative of the value of the lot alone at 518 Elizabeth Street. The 510 Elizabeth Street lot sold for $714,000 or $139 per sq ft for a 5150 sq ft lot on which to build a new house to replicate other Old Town houses.

516 and 514 Elizabeth Street are located just north of 518 Elizabeth

522 Elizabeth is located adjacent to 518 Elizabeth on the right

510 Elizabeth Street before demolition in 2010

New construction at 510 Elizabeth replaces the former Gentle Touch Cleaners

I have not been inside 518Elizabeth Street yet, but I suspect this house needs updated. Potential buyers that want a project could have a field day on this big old girl. The depth of the lot and location make it a great candidate for renovation.

Click on GOOGLE MAP for an aerial view of the property and then use the toggle switch for a street view. The Google team has been in Key West doing new photos. I hope they hurry because the original set often give a bad impression of our very pretty town. The aerial photo, however, ought to give any potential buyer assurance that this is a superior location near the top of Solares Hill.

518 Elizabeth Street is located at the top right of the above photo

If you are looking for a great renovation project in Old Town, this may be what you have been looking for. Please contact me, Gary Thomas, 305-766-2642 or by email at kw1101v@aol.com. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

On the Waterfront - Key West

If you are looking for a Key West getaway with waterfront views, private dock, newer construction, and located near Old Town, you might want to look at 11 McCoy Circle in the Flagler's Landing Condominiums. There are just 13 units at Flagler's Landing which were constructed in 2001. Only a few have changed ownership since the development was built, so you may not have heard of or even know of its existence. The aerial photo above shows the location just off North Roosevelt Boulevard in the Hilton Haven addition to Key West.

Unit 11 noted with the X

Private outdoor patio with covered parking behind

Unit 11 has a private boat slip

The listing agent describes 11 McCoy Circle this way:

"Breathe taking sunsets--- Experience true Key West living with this home's colorful Caribbean decor. The first floor boasts a wall-to-wall window and sliding glass doors on it's west side that allows you to bring the outdoors in. If the beautiful Gulf view isn't enough, get even closer to the water by using it's exclusive boat slip. Built to last forever, and then some..."

The two story unit sits to the west of the development which arcs from northeast to southwest. The main living level is located above covered parking and a large outdoor semi-covered patio that looks toward the water.
The kitchen, living room and half-bath are on the main level. The west wall is a bank of sliders that open onto a deck that overlooks the water. A separate deck on the backside looks toward the community pool. An intricate custom built wooden spiral staircase winds from the living level to the top floor bedroom level. Each of the two bedrooms has a separate bath. Unit #11 has 1103 sq ft of living space plus the second level deck off the living room and generous ground floor patio.


The monthly condo fee here is $434 which includes Exterminating, Building Exterior Maintenance, Building Insurance, Common Area Maintenance, and Pool Service. The fact there have been only a few condo resales in the ten years life of this property should mean financial stability for the association.

Unit #11 is offered at $515,000 or $432 per sq ft. CLICK HERE to search the Key West mls to compare this unit that is located directly on the water's edge and that has its own boatslip with other condominium developments in Key West. You will find lower priced properties, for sure, but not with direct water view or boat slip or both with the exception of a couple of units on Eisenhower Drive which are priced higher both in asking price and on a price per sq ft basis.

Photo dated 1921 shows Flagler's Landing in background

If you are looking for a place with a real waterfront location that is offered at a reasonable price, you just may want to call me, Gary Thomas, 305-766-2642 to schedule a showing of 11 McCoy Circle in Key West. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

Happy 4th of July!

Life on Poorhouse Lane - It Ain't a Bitch!

735 Poorhouse Lane - Key West - Short Sale

We all have highs and lows, but for the most part my life is very copacetic. When you are young you plan for the future so much that you sometimes fail to live and enjoy the present. At least I did. I recall years of my life where I planned into the future. Where would I be? What would I do? How much money could I make? That is why so many people, like me, say things like "If I only knew then what I know now". That phrase is usually uttered with a twinge of regret-of opportunities lost.

It wasn't until I moved to Key West and let my life decompress that I stopped worrying about tomorrow. My biggest stress point now is driving behind Conch Trains and Trolleys or tourists driving slowly down a busy street. That's actually not a bad place to be in life compared to all of the real stressful situations that exist in our world. Poor me.

When you actually move to Key West and divorce yourself from your old way of life (office politics, meetings of any sort, business organizations and social agendas) your body and soul find a new balance and a new approach to everyday living. Stuff that is important is important. And stuff that is not important is not worth worrying about. Vacationers sense that locals are actually happy in their lives. Vacationers get a taste of Key West, but they must eventually return to the real world so they can go to meetings and such. They go home and dream about someday, someway, being able to spend sometime, maybe the rest of their lives, in Key West. I did.

If that is your dream the new listing at Poorhouse Lane in Key West may warrant your consideration. The listing broker describes 735 Poorhouse Lane like this:

"Beautifully renovated Conch home in Old Town Key West that features hardwood floors and Dade County Pine walls with room for a pool. This is a potential short sale transaction subject to lender approval."

I dug into the old photo album and found a black and white photo of 735 Poorhouse Lane (also known as 735 Petronia Lane) that was taken in 1965. I took an almost identical photo yesterday. See if you can identify the changes to the house. But for the most part this house and the other houses on this quiet little lane look pretty much today like they looked over half a century ago and beyond that.

735 Poorhouse Lane as it appeared in 1965

735 Poorhouse Lane as it appears in 2011

Poorhouse Lane is located just west of the Key West Cemetery (viewed in photos above). The lane is wide enough for a car or small delivery truck, but large vehicles can't handle the tight quarters. Bill Butler Park is located at the end of the lane. It's a good place to walk the dog. If you walk through the park or past the cemetery to Windsor Lane (its hard to explain but easy to do), you can walk to Duval Street in about five to seven minutes. There is a small corner grocery up at the corner of Olivia at Windsor and another at William and Windsor, but otherwise this is a commercial free area. St. Mary's Catholic Church is located two blocks to the south at the corner of Windsor Lane at Truman Avenue.

Windsor Lane and the Key West Cemetery to the east

Bill Butler Park is located at the end of Poorhouse Lane

735 Poorhouse Lane was built circa 1918, nearly one hundred years ago. The house is built of Dade County Pine and seems most solid to me. The place has been updated, the ceiling is vaulted, and a steep stairway added to the attic which now serves as a loft with separate half bath. Downstairs you will find a good sized master bedroom located just off the living room. One door leads from the bedroom to the rear deck and another door leads to a rear hallway which in turns leads to the bathroom and later the kitchen. The kitchen is bright white and has large skylight and cabinets that are set a bit higher than standard. This place would work great for someone tall. There are multiple areas at the rear for outdoor living. There is room for a pool. An existing cistern could potentially be converted to a cocktail pool as well. I saw remnants of an irrigation system and outdoor lighting. There is even a bricked off street parking spot. Oh, there is even a cat that looks like Garfield that lives on the front porch.

Dade County Pine walls and original floors with new French doors that open to west side yard

Vaulted ceiling adds space and volume to the living room as stairway leads to loft bedroom

Extra tall kitchen cabinets fit well into this very tall kitchen!

CLICK HERE to view the Key West mls datasheet on this property. Or CLICK HERE to view a slide show of photos I took late Thursday for a potential buyer.

735 Poorhouse Lane is a short sale offered at $469,000. If you would like to see this property or any other house in Key West, please consider working with me, Gary Thomas, 305-766-2642 or by email at kw1101v@aol.com. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. Living life on Poorhouse Lane does not have to be a bitch!

1501 Pine Street - Bank Owned - Key West - Bargain!

1501 Pine Street - Key West - Bank Owned - $825,000

Just listed, 1501 Pine Street, in the Meadows Area of Key West. This is the last of eight units that were completed in 2007 just as the housing market was tanking. The homes were originally built to sell at $1,895,000 or higher. The buying public did not buy. A local Key West bank ended up owning six of the units. The buying public resisted again and feared future price erosion. Last year I sold the original model unit that had been foreclosed upon by a different lender. Then the remaining bank owned properties started to sell. The two bedroom unit at 1501 Pine Street has never been offered for sale. Now it is offered for sale at $825,000. The listing broker describes 1501 Pine Street like this:

"Last One! 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 11' 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. Bank Owned and easy to see!"

The home at 1501 Pine Street is part of The Meadows Condominium Association which is comprised of eight homes. Each home is located on a fee simple lot. The association exists to provide access to rear carport parking via gated driveway and management of storm water runoff. Each homeowner pays his or her individual property insurance and maintenance expenses.

The homes were built with top of the line materials and craftsmanship. This home features soaring 11' ceilings in the living area and kitchen. The kitchen has top of the line stainless steel appliances, beautiful granite and solid wood cabinets. A two story turret is an adjunct to the kitchen and is configured as ahome office. There are lots of windows in the kitchen so your cooking will not be a chore but a dream. There is also a wet bar in the living room. The floors on the first floor are travertine marble. The stairway and second floor bedrooms have wood floors. The master bedroom features a second turret. The ceiling is vaulted so that room has an especially large feel, yet the turret makes the space so cozy. The master bath includes a double vanity, shower, Jacuzzi tub, separate water closets, and lots and lots of closets. The master bath is just opulent. I challenge you to find any more luxurious bath in Key West for less than $2 million. You won't find one.

Architectural details including crown molding, extra high baseboards, soaring ceilings, top of the line kitchen and bath cabinetry, the finest Kohler bath fixtures, two story porches and solid wood doors. The wood doors on the first and second floor front are massive and of the highest quality. The 8' sliding doors that separate the living area from the pool are hurricane impact resistant to 155 mph that open wide to let the outside become part of the inside. A private gated driveway leads to the carport and a separate entry to the private pool and spa area. Each home is completely fenced and beautifully landscaped. This home is located on a corner lot so it has lots of separation from the other nearby homes. CLICK HERE to view a slide show of this particular house.

Bayview Park is located two blocks to the south

The Garrison Bight is located one block to the east

This home is located in the Meadows area of Key West. Bayview Park (two blocks to the south) has an old fashioned bandstand, public tennis courts, basketball courts, and lots of green space for community events. The White Street arts district is a five minute walk to the west. The Garrison Bight Marina is located one block away to the east. Duval Street and the Historic Seaport are each a five minute bike ride. The three large shopping centers (large by Key West standards) are five minutes by car. The Key West International Airport is five to seven minutes depending on traffic.

CLICK HERE to view the Key West mls datasheet. I really think this last unit will sell quickly. The reasons to hesitate are gone. The other units are now owner occupied and potential buyers who feared price collapse can now see price appreciation in the near future. If you are interested in seeing 1501 Pine Street in person or want more information, please contact me, Gary Thomas, 305-766-2642 or by email at kw1101v@aol.com. I am a buyer's agent and a full time Realtor at Preferred Properties (listing brokerage) for this property.

830 Simonton Street - Old Town - Key West - Arts & Crafts Classic

830 Simonton Street - Key West

The Perfect Perch for People Watching

I have written three previous blogs about the architectural gem at 830 Simonton Street. The first time was when the bank had a "for sale by owner sign" on it (I submitted a great offer to the the local bank which countered back at full price); the second time was when the house was listed with a local real estate agent; and the third time when after sold (at a price less than what my client had offered).

830 Simonton Street was built in 1943 and photographed in 1965

830 Simonton Street as it appeared in September 2010

830 Simonton Street post-renovation 2011

The new owners have totally renovated the house at 830 Simonton Street, and it is now listed for sale at $749,000. The rejuvenated house has just about everything a second home owner in Key West could ask for: classic architectural design and exquisite updating; location near the top of Solares Hill: a new pool; off street parking; and an attractive asking price. The listing broker describes the property this way:

"Handsome first class renovation just completed! Meticulously detailed throughout, this 3BD/2.5BA Conch house has it all. Classic Dade County pine walls & floors, new kitchen with granite counters, fresh stainless steel appliances, new sparkling bathrooms, and even a new cocktail pool. Bricked & remote controlled gated off street parking, wonderful relaxing front porch & outdoor shower. It is absolutely perfect!"

Comfortable great room expands the living area through the kitchen

Dining area and kitchen blend harmoniously

Ina Garten would love this kitchen and so will you!

Third bedroom becomes a home gym

Relocated laundry room is now a tiny bath off the home gym

Retractable awning shades the kewl pool

Gated and bricked off street parking for two small cars

The new owners modified the existing floor plan by moving a couple of walls and making the rooms more functional. They jazzed the place up with subtle features like the bright white trimmed bay windows in the dining room which show off the Dade County Pine walls. They included modern additions like the kitchen cabinets that blend the old with the new. Instead of three individual rooms with individual purposes, the new great room is a tasteful re-purposing of space which enhance the original architectural simplicity. There are two spacious bedrooms with en-suite baths plus a half-bath off the third bedroom which is used by this owner as a home gym. There is even 24 hour a day video surveillance so you can see your house from anywhere in the world. I was taken by the addition of the cocktail pool and the creation of an off street parking space. A white picket fence and lush landscaping complete this property. CLICK HERE to view a progressive photo history of 830 Simonton Street.

CLICK HERE to checkout the Key West mls datasheet and to view listing photos of this great property. This place would be perfect for a couple that want a Key West getaway place. There is room for family or friends. It is within easy walking distance to all of Old Town. This property would make a great vacation rental.

If you would like to see this great property, please call me, Gary Thomas, 305-766-2642. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.