Let's Buy a Guest House in Key West

Catchy name for a place to stay, eh! Maybe the GAYWAY MOTEL isn't your vision of the kind of guest house you envision owning, but I have a property that just might fit the bill. The Victorian House at 806 Truman Avenue in Old Town Key West is looking for a new owner. I think this place could "go gay" or stay "straight" and still be a good "buy".

The listing Realtor describes 806 Truman this way:

"***PRICE REDUCED*** Elegant and spacious historic home with three transient rental licenses. Great sitting rooms, formal dining room, five bedrooms, five full baths and two half baths including a beautiful 1/1 guest cottage. Dade County Pine, elegant architectural features, high ceilings and a new kitchen with high-end appliances. Wonderful outdoor lanai, separate heated pool and heated spa, off-street parking for two vehicles and lush tropical landscaping. An opportunity for a beautiful single family home or maintain as a vacation rental with great rental income. Property generated $175,000 in gross income in 2010. The Victoria House is an Historic Gem in the heart of Old Town Key West."

Here are the basics. 806 Truman Avenue is now offered at $1,895,000. The main house was built in 1918. The total square square footage is 2651. The property measures 57'x175' or 5729 sq ft. Click GOOGLE MAP for a aerial perspective of the property and its proximity to Duval Street and other Old Town destinations. Use the toggle switch for a ground view as well. Then recall what I have written before about the value of location when owning a guest house in Old Town. A lot of first time travelers come to Key West without a room reservation. Owning a really attractive property that is easily seen by unprepared tourists could put extra money in an innkeeper's pockets on those few nights when all rooms are not reserved. This property is not offered "furnished", but I suspect it can be purchased fully equipped. There are just three transient rental licenses even though the property as five bedrooms. An owner could live on the property I suppose and give up significant revenue for 365 days per year. The better option would be to purchase two additional transient licenses to take full advantage of the earning power of this great property.

CLICK HERE to view a slide show of photos I took of this property a few weeks ago. I had shown the property when it was for sale several years ago, but I forgot how delightful. This place is in just wonderful condition. Every surface is clean. Really clean. I only noticed one area on the second floor rear deck that needs some wood repair. Otherwise, everything on the inside and outside is highly maintained. I was particularly impressed with the quality of the furnishings (which I noted are not included in the offering) and the fixtures in the bathrooms. Nothing is Home Depot "cheap". To the contrary, all fixtures are high quality and durable. The result is that a new owner will not have to be doing repairs. The third floor has a fire suppression system plus rear stairway to the ground floor for easy access to the pool or as an emergency exit.

There is another place in town that was for sale a couple of years ago. It was my poster child example of what I would not want to own as a guest house. It had a lousy location off the beaten path surrounded by low income apartments . It had no pool and, in my opinion, no charm. It appealed to low budget travelers. I often see tourists dragging their luggage down Truman heading toward that place. Maybe they arrived by bus. I'll bet they took full advantage of the coupons for budget dining as well. I can't imagine working all year long to spend one lousy week in a Key West when you could do just the opposite.


I can imagine being delighted at the prospect of staying at 806 Truman. Each of the rooms is different and delightful in its own way. Each room has a private bath, television, and lots of charm. Each has immediate access to a private or semi-private porch or deck. Being able to sit outside and dream about living in Key West full time is part of vacation therapy. I'm sure we have all dreamed of living in a favorite vacation spot. I know I dreamed of living in Laguna Beach, Palm Springs, LaJolla, the South of France, and parts of Italy. I had to "settle" on Key West and have never regretted it. The important thing is that guests have private outdoor space to relax and unwind.


I think the Victoria House could be a very good candidate for a conversion to a gay guest house and maybe a name change. It has a great location and all the amenities that would appeal to gay travelers.

While there are only five guest rooms, this place is not "small". The rooms are large and the entire property seems quite large. Nothing is cramped nor compromised. One does get the feel of being the guest in a grand large old home. And that, Dear Readers, is the point of staying at a guest house instead of a motel on the boulevard or an economy guest house off the beaten path.

CLICK HERE to checkout the Key West mls datasheet and to view listing photos of this property. This property is currently managed and rented as a single home with guest cottage on a weekly basis. Seeing the property requires advance notice and planning so that guest vacations are not interrupted. If you would like to see this property or any other property in Key West, please consider working we 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.

840 Olivia Street - Old Town - Key West

840 Olivia Street with two off street parking spaces

Even the listing Realtor says this new listing at 840 Olivia Street needs a little TLC (maybe short for Tools, Labor, and Cash) but he adds:

" Great location for a house you can move into tomorrow. Needs some TLC but has all the potential for a really nice home. New windows, updated appliances and new A/C units are some of the desirable features of the property. Off street parking for two cars and room for a small pool are definite pluses. Anyone interested in an Old Town location at a affordable price should seriously consider this property."

This property is a new listing of Preferred Properties (that's where I work but this is not my listing). I got to take some photos of the house yesterday and want to share my thoughts with you about this Key West property. I remembered the house from several years ago when I showed in while renovations were then in progress. That was at a time when everything in Key West was selling like hot cakes. It was a time when the demand for houses in Old Town was so high that owners started cutting big houses into smaller parts and turning them into condominiums. Those 'condo conversions' are today sometimes difficult sells. Most buyers want a real house that they can own outright and not worry about condo rules regarding pets or neighborly supervision of what one can do in one's own home.

I remembered this house because it is located across the street from the Key West cemetery and partly because it was not a total rehab. By that I mean the house wasn't jacked up and new piers added and made perfect. It did not get the Key West Conch cottage kitchen or designer baths or kewl pool. Instead, it got things that the basics including new windows, new siding, new storm shutters-all things that reduce windstorm insurance and minimize maintenance repairs. Maybe the prior owner-redeveloper got it right in deciding not to go all out on his then renovation. A lot of buyers refuse to even consider buying a house that overlooks the cemetery. I have people who refuse to look let alone think of buying any property with a cemetery view. So keeping the costs manageable and doing things that were necessary instead of everything one could do (and spend thousands of extra dollars in the process) may have made good business sense.

A few years ago I wracked my brain trying to figure out why so many houses on Olivia Street always seemed to be for sale. I thought and thought and then realized that Olivia Street is about the longest continuous residential street in the Old Town area. It starts on the western most edge of the Bahama Village section and then runs one-way easterly to the very end of Old Town at Eisenhower Drive. That's about 15 blocks. Below is an aerial photo of Old Town taken in 2006 that shows 840 Olivia Street marked by an "X".

I dug deep into the old shoebox and found a very ominous photo (below) of 840 Olivia Street taken back in 1965. Could the 'shinings' in the photo be denizens from across the street? The house was built about 1892 and got a second story sometime after 1965. I am confident our present day HARC would not permit such an addition today. I'm not saying it is bad, but it is not in keeping with the other one story Conch Cottages located on Olivia Street. That second floor and the added space helps give this house value but the historic integrity is missing. Sad face:(.

840 Olivia Street as it 'appeared' in 1965 complete with apparitions

This house has just under 2,000 sq ft of living space on two floors (1188 sq ft to be exact). Downstairs there is a good sized front porch where you can look over to the cemetery. You enter into a hallway that actually opens into the living room to the left. The result is lots of light in this space from windows in front, the left and right. The updated kitchen is at the back. A steep staircase takes you to the second floor. The master bed and bath are at the rear and two other bedrooms are at the front. They share a bath. There is a off street parking large enough for two cars and a decent sized back yard.

Living room

Recently updated kitchen

Master bedroom is at the second floor rear

Room for a Pool?

Rear side yard looking to the off street parking and beyond

This property is tenant occupied and rents for about $2400 per month plus utilities. A lot of locals live in shared living arrangements like this. A single person can pay $800 per month plus a a share of the utilities and get a clean place to live in a convenient location. Many locals do not have cars but instead rely on scooters, bikes, or feet. A buyer that is looking for a property that he or she or they could update sometime in the future for personal use should consider a place like this because you an buy it now while prices are still affordable. The place can throw off predictable income to service a new mortgage while you wait until it is time for you to redo the place the way you want.

A forever unobstructed view

CLICK HERE to to view the Key West mls database on this property and to view listing photos. You can see photos I took if you CLICK HERE. This property is offered at $474,000 or $399 per sq ft. The listing agent is out of town next week and I am showing this house for him. Please call me, Gary Thomas, 305-766-2642 to schedule an appointment to see 830 Olivia Street in Old Town Key West. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

307 Olivia Street - Old Town - Key West

Just listed, but not by me, 307 Olivia Street in the Bahama Village section of Old Town Key West. This is a sweet little house that is located on a quiet little one way street just two blocks from Duval Street. The listing Realtor describes this gem like this:

"Within a block of Hemingway's house, and close to all his Key West Duval Street haunts lies this special conch house. Charming, 2 bedroom, 2 bath, with a sleeping loft. Well kept and peaceful, with a great deck and beautiful trees, in addition to off-street parking. Bike or walk to all the wonderful restaurants, the beach or many attractions Key West has to offer."

The house has 1064 sq ft of living space on divided between two floors. The kitchen and living space are at the rear of this home. Two sets of French doors and several windows make this area quite bright and inviting. The master bedroom and bath are located at the right front and a smaller bedroom or office is at the left front. A second bath is also located on the main level. A stairway leads to the second floor loft that is used as a bedroom space.

The rear deck is nestled under a big canopy of trees. I think there is adequate room for a pool but the tree roots could be problematic in getting permission to build an in-ground pool. There is a bricked off-street parking spot.

Rear deck and a large backyard

CLICK HERE to view the Key West mls datasheet and to view more photos of this property that is offered at just $489,000.

If you would like to see this home or any other property in Key West, 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.

Very Affordable Key West Condo - Bank Owned

1010 Grinnell Street -Unit No. B $159,900 Bank Owned

The new Bank Owned condo listing at 1010 Grinnell Street Unit No. B is very affordable at just $159,900. The listing broker describes the place this way:

"Detached Condo That Feels Like A Single Family...Private Enclave Off Master Bedroom With Decking And And A Place For Your Green Thumb, Wood Floors, Your Own Washer/Dryer, Close To Downtown And Steps From The Pool."

I was a bit skeptical because the property is located so near the corner of Grinnell and Truman. Click GOOGLE MAP to checkout the area. (Use the toggle switch to get a street view.) The condos are located near a lot of commercial activity. When I entered the property, I was surprised how quiet it was and how nice the common area looked.

I think that the unit may actually be larger than 573 sq ft stated in the Key West mls listing CLICK HERE. An interested buyer needs to verify the size before making an offer. Be that as it may, the unit itself is a good sized two bedroom home with a large private rear deck off either of the two good sized bedrooms. The two negatives that I see with the unit are the shared kitchen and living areas and the placement of the washer and dryer in the hallway between the living area and the bedrooms. But for $159,900, that is no big deal.

Combination Kitchen and Living Room

Living room looks out to the pool

I looked at the outside of the building with a critical eye. The roof is new; there are new gutters; the siding is in good shape; the deck needs power washed but almost every deck in town needs power washed; the pool is decent sized; and the common area provides nice separation between the three buildings that make up this four unit condominium complex. It looks like one wall unit a/c has a leak. Leaks can normally be repaired or you buy a new a/c which is probably cheaper.

Private Deck need power washed

I think this unit is a bargain at the asking price. Contact me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com if you would like more information on this unit. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. This unit is not for everyone. But it could definitely work for a local looking to purchase a nice clean home at an affordable price. Don't delay because this place will sell soon.

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Key West and The Hundred Dollar House...

As we all know Key West is located at the very end of U.S. 1. There is a sign at the corner of Whitehead and Fleming Streets where tourists take pictures of themselves as proof that they have reached the end of America. Having a town located so far away has always meant that things cost more here because everything costs more if you have to haul it or fly it or sail it to Key West. At least that is the logic retailers, restaurateurs, and gas station owners use to justify their sky high prices. Housing costs weren't always high in Key West. But ever since the gays started spiffing the place up in the 1970's, prices have gone up and up. Rare is the opportunity to buy an old house in Key West for a cheap price.

I found a couple of instances of old houses that were moved from one location to another for prices that astound me. The first is an old house previously located on Simonton Street across the street from the famous Peggy Mills house which later became the ultra chic Gardens Hotel. The second is a house that was moved this month from near the Key West cemetery to the White Street business district.

509 Southard Street many years ago

Handwritten on the back of photo - Freddie Deon sold me this building for 100. It was across from Peggy Mills. I couldn't move it so let it go. He moved it to 509 Southard Street and it is now excellent photograph store next to Porter Allen Insurance Co.

509 Southard Street today is now a cafe that is attached to the Pegasus Hotel at the corner of Duval and Southard Street.

The second example is the house that was that is no more that was replaced by the house that got booted out of Key West's cemetery to make room for more tombs. Read on.

The old house at 1018 White Street had seen a better day.

This old house at 819 Olivia Street was built in the 1890's. Normally messing with an old house in Key West is verboten.

The Key West Cemetery surrounded 819 Olivia Street on three sides. The cemetery has run of space for new graves and tombs. That fact made it easier to get permission to relocate 819 Olivia Street to another location. The house was reportedly sold for only $500 to a local who then had to move it.

Preparations were made at the location of the former falling down house at 1018 White Street which was razed. The lot was prepped for the arrival of the soon to be relocated house from 819 Olivia Street.

Locals recognize piers as being the foundation upon which most homes in Old Town are built. In this instance, new footers were dug to bedrock and new piers were poured so that the relocated old house could be placed upon and secured into the piers. The interior of the house will be updated, utilities connected, the outside spiffed up, and landscaping installed.

Last week the house was uprooted from its old perch and moved down Olivia Street for the four block ride to its new home. Key West's finest blocked intersections along the route and diverted traffic as the house inched its way to the new location.

Here it sits between a cake shop and Sandy's Cafe waiting to be spiffed.

Since most people can't buy (or even rent) any place in Key West for $500, you will need to pay market price for the house of your dreams. CLICK HERE to search the Key West mls database. If you see something that interests you, 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. Several of the houses I have written about in the past few weeks are already under contract. Don't procrastinate.

Easy Living in the Casa Marina Area

Vintage Photo of the Casa Marina Hotel

Most would-be second (or third or fourth) home buyers usually select the Old Town area of Key West as the target location for their potential new home. I understand the allure of the old houses, cute little lanes, and nearness to so many of the attractions that makes Key West such a wonderful place to visit (and live). The Casa Marina area of Key West offers a mixed variety of small, medium, and large homes plus a few estate type properties which share nearness to the ocean and perennial quietness as an extra bonus.

The Casa Marina area was developed a bit later than Old Town. Some of the houses are the traditional two story Grand Conch houses that we see in Old Town. But more are 1950's and 1960's vintage homes that have been updated and enlarged to meet the demands of today's lifestyle. Most of the homes in this area sit on lots much larger than you will find in Old Town. Many of the homes in the area sit back from the street in yards fenced for privacy.

701 Washington Street is protected from the street by lush vegetation

The home at 701 Washington Street is located two blocks north of the Casa Marina Hotel and just two blocks east of Duval Street. That location offers the best of both worlds because you can walk to the Casa or on Duval Street in about five minutes. But this house offers so much easy living that you may not find a need to go anywhere else. The listing broker describes the property this way:

"Lovely Spanish style home in the Casa Marina District was completely renovated in 2009 with the highest quality materials, including a new barrel tile roof with roof terrace. All floors are natural stone and hardwood, the baths have granite and onyx throughout and there are many suntubes which provide natural lighting. The family room doors are custom 8' Mahogany bifolds and open to the lovely pool area. With custom windows, doors and iron gates, there are too many details to mention here. This beautiful estate is a must see!"

Game room at the east end of the house overlooks the pool

701 Washington Street sits on a large 10,600 (l00'x106') lot at the corner of Vernon and Washington Streets. It offers 3488 sq ft of living space on one level. There are several living areas including a formal living room, game room with vaulted ceiling, and a family room that is adjacent to the kitchen. The windows and doors in the living areas were custom made in Honduras and offer windstorm protection to to 155 mph.

Custom made windows and doors

The master bedroom suite is at the rear and includes a separate sitting room, office, bedroom and en-suite bath with sunken tub, shower, and the necessities. The master suite is larger and much more plus than many condos near Old Town. A door opens from the master suite to a spa located just outside the door-the perfect spot for late night relaxation.

Game room on the left and family room to the right

The house has a total of four bedrooms and five bathrooms. Each bedroom is large and unique in design. The bathrooms feature a variety of high bath fixtures, tiles, marble and other hard surface materials, and dramatic light fixtures.

The extra large and very sunny pool runs north and south and can be entered from the game room to the east, the family room to the west, or the master suite to the north. A spiral staircase provides access to the rooftop sundeck. CLICK HERE to view photos I took of this property.

While they still may not putt on the grounds at the Casa Marina, the hotel is still an integral part of life in Key West. You can purchase a membership to the Casa Marina beach club and use the gym, spa, and beach as often as you want. I recently sold a home in the area to a doctor and his family who joined the club. They are delighted with the decision because it enhances the easy living lifestyle in the Casa Marina area.

If clubs aren't your thing, nearby Higg's Beach is free. Doggie Beach is one block from 701 Washington Street and Louie's Backyard and the After Deck Bar are located next to the beach. Salute` on the Beach is a much cheaper place to eat and the views are always interesting. Being able to go wherever you want whenever you want is priceless.

Louie's Backyard on the left and Doggie Beach on the right

Higg's Beach is free and very inviting

The pier off Higg's Beach

Salute` on the Beach

CLICK HERE to view the Key West mls datasheet and to view lots of listing photos of this wonderful property. 701 Washington Street is offered at $2,495,000. If you would like to see this property please contact me, Gary Thomas, 305-766-2642. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Reality, Inc. I live in the Casa Marina area and know how easy living can be there. Take the time to find out for yourself.