1230 5th Street - Bank Owned - Key West

1230 5th Street - Bank Owned - Key West

If you are looking for a "Fixer Upper" may I suggest that you consider the new listing at 1230 5th Street in the midtown section of Key West. I showed the property last week one day after it was listed. My buyer was looking for a place he could fluff and make all nice. The challenges this property presented were more than my buyer anticipated.


The listing Realtor describes the 5th Street property this way:

"Spacious 4 Bedroom 3 Bathroom 2 story home on a large corner lot. Huge pool w Guest cottage in back with a one bedroom one bath living area. Bank owned."

The pool area as it appeared in 2005

This property sold in 2005 for $715,000. Nude Greek statues adorned the e pool area at that time. Two years later in March 2007 it was listed for $997,000 as a "A very large single family two story home located two blocks from the Gulf." When I showed it last week the property was divided into at least three living units with separate entrances, kitchens, and bath facilities. The pool was covered by a contraption to prevent accidental drowning and the Greek statutes were gone. It had all the earmarks of a bank owned property. Today the offering price is $331,500 or $129 per sq ft.

The pool today

The house has 2573 sq ft of living space based on the info on the Monroe County Property Appraiser's website. That site does not include the guest cottage so the actual size may be a bit larger. The house is located on a 50' x 100' lot at the corner of Fogarty Avenue at 5th Street. That's a feeder street for this part of town. Click GOOGLE MAP for an aerial view.

Main level bedroom opens out to pool

Entrance to main floor north bedroom

I entered the downstairs unit and first walked into an odd little foyer and then into the kitchen. This level had several different floor surfaces and floor levels. It was as if someone kept adding or altering spaces to provide more living space and used whatever cheap building materials were available. CLICK HERE to take a slide show photo tour of the property.

There is a steep and narrow interior stairway to the second floor. It looks like there was some water damage in one of the rooms as the wood floors there are quite warped. Again, there are multiple floor levels and multiple small rooms.

Second floor kitchen

I think a smart buyer would go inside this large property and demolish the interior walls and establish floor levels for the main floor and second floor and then build new interiors to the needs of the new owner. It would be silly to try to re-use the small and dysfunctional spaces. This property has a lot going for it, but not based on its current configuration. It will take a knowledgeable builder to fix this place. No amateurs should apply. But it is fixable and it could be once again a nice large home with a sunny pool and guest cottage.

If you would like to see 1230 5th Street please contact 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.

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800 Fleming Street #A1 - Old Town -Key West

800 Fleming Street - Old Town - Key West

800 Fleming Street - The William Fleming House - Key West

The listing Realtor describes the new offering at 800 Fleming Street #A-1 (The William Fleming House) this way:

"The perfect home for someone who wants carefree condominium living but desires the charm of a historic Old Town Key West home. The William Fleming House was constructed in the mid 1800's and is located in a premium location - the corner of William and Fleming Streets. Beautiful renovated home includes a new kitchen, two new baths, wood floors and ceilings. The kitchen includes granite and butcher block countertops, stainless steel appliances and new cabinetry. Baths are beautifully outfitted with polished chrome fixtures, tile shower enclosures and stone floors. There are only 9 units - each with assigned offstreet parking and a very large tropically landscaped common area with free form pool, sun deck and covered bar."

The facade at 800 Fleming Street looks much different today than it did during the previous century. I found two old photos showing the building as it looked when it was the Peacon Grocery and later as Long's Furniture. Peacon was the owner of the grand house at 712 Eaton Street which was briefly owned by Calvin Klein. I like the way the developer added balconies around the perimeter of the building, but I doubt that a developer would be able to make such a bold change to a similar building today. Those balconies provide lots of exterior space for the owners to enjoy their homes and to watch the world go by.

800 Fleming Street in 1965

800 Fleming Street November 2011

CLICK HERE to view the listing details and photos of the interior of this two story in town condominium located in the heart of Old Town Key West. This 1281 sq ft unit occupies two floors of the building and has views of the pool and gardens. The units in the building feature Dade County Pine walls, floors and ceiling and have that "old Key West feel" that many buyers want. The ceilings are very high and the doors and windows open to decks overlooking the pool below and the pristine homes on William Street. This unit is offered at $625,000 or $488 per sq ft. The condo is located on one of the best blocks in Old Town and is a convenient walk to everything. The property is located three blocks east of Duval and three blocks south of the Historic Key West.

If you are looking for a pied-a-terre or just a plain old condo, 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.

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215 Golf Club Drive - Bank Owned - Key West Golf Club

If you are looking for a large home on the Key West golf course for a modest price, you should definitely consider the newly listed Bank Owned property located in The Sanctuary at 215 Golf Club Drive. The listing agent describes this home like this:

"Dont miss out on this rare opportunity to own a beautiful single family home with a pool in one of Key West's most sought after locations, the Sanctuary, in the Key West Golf Club for under $480k. Bank Owned. Excellent Condition."

This house sold in May 2005 for $1,125,000, and it is now offered at just $464,900 or $291 per sq ft. The house has three bedrooms, two and one-half baths, a private pool, first and second floor front porches and rear deck or balconies, and a quiet location on the Key West golf course. The house is 1600 sq ft divided almost equally between the main floor and second floor. The main level has a bump out located just off the living room which could be used as a guest room, den, or office.

Guest room on the left and French doors straight ahead

Upstairs you will find two bedrooms each of which has a door to the front second level porch. They share a bath. The master bedroom is at the rear and has an en-suite bath. The master bedroom also has a vaulted ceiling and a set of French doors that open onto its own large second floor rear porch with views of the pool below and the golf course beyond. I can imagine sitting out there in the early morning drinking coffee and watching the birds wake up as the sun rises and the sky turns from gray to orange and eventually to blue.

The kitchen has upgraded cabinets, granite counter tops, and stainless steel appliances. Each of the bathrooms has upgraded bath room fixtures. The grounds are nicely landscaped and have designer exterior light fixtures and a sprinkler system. Compare the price, size, amenities on this home to other similarly priced properties in Key West. You will likely agree with me that this home is a real bargain. CLICK HERE to view the Key West mls data sheet on this property.

You can also CLICK HERE to view a slide show presentation of photos I took of this property. Then please call me, Gary Thomas, 305-766-2642, to show you this property. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

Bank Owned Conch Cottage - 215 Truman Ave. - Key West

215 Truman Avenue - Bank Owned - Key West

There is a newly listedBank Owned Conch Cottage at 215 Truman Avenue that bargain buyers may want to consider. This place is cottage because it is on the small side - just 556 sq ft. It is a simple structure with one bedroom, a private bath, a large living and kitchen area that share the rest of the interior living space. The cathedral ceiling transforms the living and kitchen area into a comfortable and spacious place to live and entertain. The cottage has a good sized bedroom on the main floor with a door that opens to the original front porch of the house. The new main entrance to this cottage is off the ample side deck. A ship ladder provides access to the second level loft which provides a good sized area for a mattress for the occasional sleepover guest. Getting up and down works well for little kids but adults would be better off staying in a nearby hotel. The bath is spacious and there is a washer and dryer closet so your other half won't have to go to the laundromat.

Kitchen with view of the loft above

The living and kitchen viewed from the loft

Ample side deck provide comfortable private outdoor living space

Sleeping loft for kids or the occasional house guest

215 Truman Avenue was built circa 1923

The original Conch cottage was built circa 1923 and was thoroughly renovated in 2006. New piers and much of the super structure appears to have been rebuilt. All windows and doors were replaced as was electric, plumbing, and new HVAC added. The house has a new metal roof and storm panels are in place which will reduce windstorm insurance for the new owner.

This Bank Owned Conch Cottage is offered for sale at just $225,000 or $405 per sq ft. The cottage is one of four in the Truman Condominiums. Each unit is owned in fee simple. The condo association exists to maintain the common sidewalk that provides access to the four units that share this limited space. Each owner pays for the maintenance and insurance of their respective homes.

This little place ought to appeal to that special buyer who wants an inexpensive getaway place close to all of the things that happen on or around Duval Street. CLICK HERE to view the Key West mls datasheet on this property. And CLICK HERE to view a slide show of photos I took of this property.

If you would like to see 215 Truman Avenue or any other property in Key West, 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, Florida.

Lady in Waiting - 410 Simonton Street - Old Town - Key West

410 Simonton Street - Old Town - Key West

The new listing at 410 Simonton Street is truly a Lady in Waiting-waiting for that special someone to come in and restore the house and grounds to the trophy property it should be once again. It's not that the property as it now exists is bad. It isn't. It just is not as good as it could be. In fact, it could be grand.


The listing agent provides this bare bones description of 410 Simonton Street:

"One of Key West's most beautiful houses. True history resounds in this one of a kind home. Paintings from the 1880's are featured in the front parlor on the ceiling and walls. Currently in use as a 5 unit rental property with rental income of $7,900/month. This house is a great candidate to remodel as a single family home."

This property is offered at $900,000 or $288 per sq ft for the 3123 sq ft house plus attached living units. The lot is 60' x 106' (6036 sq ft). I wnt digging in the shoe box and found two old black and white photos that show the house in earlier times. The Monroe County Property Appraiser noted that the house was built in the 1870s but was not specific as to the exact date. The old gal still looks pretty good for being over 140 years old. CLICK HERE to view the Key West mls data sheet on this property.


If you would like to see this 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. This is a great buying opportunity for someone who wants a truly beautiful home in Old Town Key West.

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