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Tuesday, September 4, 2012

820 Whitehead Street - Key West

820 Whitehead Street - September 2012



820 Whitehead Street in 1965


Maybe I should have entitled today's blog "Honey, I Blew Up the Kid - er, I Mean House".  As I prepared to write today's blog, I looked in the old shoe box to find old photos of 820 Whitehead Street, the subject du jour. I found the above black and white photo but at first thought the street notation was incorrect. And then I realized that the address and the photo are accurate. The house has dramatically changed since the photo was taken in 1965. The front facade and porch were reconfigured and a second story was added that greatly expanded the interior space. All of these improvements were done by the owner-developer who undertook the redevelopment of six contiguous houses in 2005. The other houses sat on small lots and did not have much in common. Three houses on Whitehead Street (including 820 Whitehead at that time) had welcoming street porches for people watching. The interior units (located behind the houses on Whitehead Street) did not have views of anything. The developer created a beautiful pool in the rear which became a shared amenity for each dwelling. The separate units were legally converted into condominiums. This conversion allowed the developer to build a new unit in the very rear and to create minimal common elements so that all property owners could have access to the pool area.

The developer literally rebuilt each of the old cottage houses. But it was 820 Whitehead Street that the "star" treatment.  This home doubled in size and to the incredible view of the seldom used pool at the rear.

If you look at the facade photo you might assume the front porch is the entry to the home. No it is not. The main entry is actually located midway down the gated walkway that heads toward the pool. The entry opens into the living room which is at the back of the house.

The living area is a shared space of living, indoor dining, and kitchen. French doors open out from there onto a covered terrace that overlooks the pool.


The open kitchen is located just to the left of the main entry. The front of the house currently houses a law office (legally permissible as the property is zoned HMDR in case a new owner might want to live and work in the same location. (Cuts down on travel time for sure.)  That room does have access to the front porch from which you can see the Ernest Hemingway House across the street. The main floor bath is located between the kitchen and the main floor bedroom.


The floors in the living area are a beautiful grayish marble that is almost reminiscent of Cuban tile. The floors are stunning in their simplicity.


The master bedroom is located on the second floor. This space is a total surprise to first time viewers. Wow! The space is large and open. This room has a feeling of being much larger than it actually is. A set of French doors open onto a Romeo and Juliet balcony that overlooks the pool below.  What a view that is! The master bath adjoins. The floors on this level (and the stairway) are new rich oak - the real thing.


820 Whitehead Street is located just one block off Duval Street and across the street from Hemingway House. The Southernmost Point is located a few blocks south on Whitehead. The current entrance to Ft Zachary Taylor State Park and Beach is located just a couple of blocks to the north.  This is a great tourist location. I believe this property would make a great vacation rental.

820 Whitehead Street has 970 sq ft under air and is offered at $449,900. The monthly condo fee is $668.99 and covers building maintenance and insurance, common area maintenance, and pool maintenance. CLICK HERE to view the Key West Association of Realtors mls datasheet and listing photos. Then CLICK HERE to view a slideshow of photos I recently took of this property.  I think you will find that this house has a lot to offer and is priced to sell.

If you would like to see this property or any other property in Key West please contact me, Gary Thomas, 305-766-2642. I am a buyers agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.


Monday, September 3, 2012

Labor Day Suggestion: Quit Your Job And Move To Key West

 

My niece and her husband recently visited me. It was their first trip to Key West, and they both fell in love with the place. A couple of weeks ago she sent me an email that said, in part,
"Bill thinks he could drive a pedi-car and I saw a job opening in a tourist shop with paid vacation and full benefits package."

It's amazing the number of stories I have heard over the years about people who come here for a vacation and then decide not to return back home. They found a new home. They looked and found a new job.  They found where they wanted to spend the rest of their lives.

I have written before about how I have quit a couple of jobs. I have a low tolerance level for jerks. Me, I let it fester until I could not take it any longer and then abruptly left. People with cash or an alternate source of income can do things like that. Some people can just suck it up better than others. 

I moved here to open and operate the Eaton Lodge Guest House which was located just off Duval Street on Eaton. The place was foreclosed upon by the SBA. I purchased it at a public auction in October 1993. I took possession Christmas week that year. I placed a couple of HELP WANTED ads in the Key West Citizen and had several applicants within a couple of days. The property had been boarded up for about two years. I needed to get the place cleaned up and ready for business. I learned quickly that it is easy to find workers in Key West. One of the first people I hired as a recent arrival from Connecticut. He had been a Wall Street trader who lost his job and said screw it. He had a yacht which he, his wife and kids sailed to Key West where he took up odd jobs until he could find a more permanent position.  He stayed a week or two doing chores for me and then found something a little better and that did not involve as much work.

It was easy to find replacement workers. There is an endless supply of people who come here looking to live life to the fullest in Paradise. Many find out after they move here that they need two or more jobs to pay the rent and their bar tab at their favorite watering hole. Don't get me wrong, there are good jobs. I have found that for some reason good people with good intentions move here and then catch the Keys Disease. They start not showing up for work on time or missing work altogether.  

Others, however, hold down several jobs and make it to work on time each and every day. Many of the people who work in the hospitality business and construction trades are from Eastern Europe and Latin America. They come to Key West where they have two or more jobs, save their money, and send money back home. They can make more money in Key West in six months than they can in their native lands all year.  And Key West is much prettier and probably less repressive than most places in the world, on that we can all agree. 

In case you did not know it, some of the hotels do not actually employ the housekeepers or maintenance people. Instead, the hotel contracts with a labor provider who supplies the workers as "independent contractors". By using contract labor the hotels don't have to comply with FICA and other federal or state requirements which helps keep operating costs down. Sometimes the "independent contractors" live in housing provided by the labor contractor who takes a portion of the pay for the right to live in company owned hell holes.  Most of these people are living on the edge. Who are they going to complain to? And if they complain, they won't be around to testify in some far off hearing. Free Enterprise at work.

If you are reading this blog the chances are you are not going to end up working for a labor provider. You may, instead, look for business which you could run. Maybe you could do as I did and buy a guesthouse or a small business.  CLICK HERE to search the Key West mls commercial listings.  Maybe you can find a reason to tell your boss "I quit, and I'm never coming back"!

Have a wonderful day off work this Labor Day.  If you have a job, be thankful and show up for work on time on Tuesday. But it you decide to tell your boss to take a hike and decide to move to Key West to buy a guest house like I did, please consider contacting me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com. I am a buyers agent and a full time Realtor at Preferred Properties Key West.  Let me help you find your place in Paradise.
  




Sunday, September 2, 2012

330 Julia Street - Short Sale - Investment Property - Key West


The Old Stone Church located at the corner of Whitehead Street and Julia Street (330 Julia Street) is offered for sale as a Short Sale at the asking price of $899,000 or $184 per sq ft. The property is no longer used as a church but instead has been converted into a unique mix of commercial space and three residential apartments.
330 Julia Street - 1965
Author J. Willis Burke writes in his book THE STREETS OF KEY WEST the  AME Zion Church at 704 Whitehead Street (same location, just a different address attributed) was established by freed slaves in 1865 and was originally called the First African Methodist Church. Burke says the current building dates from 1894 but records show it was built in 1900. Later it was called the Stephens AME Zion Church. The property was renovated after 1993 and converted at that time into the present usage.

The building today has a total of 4849 sq ft of interior space which is divided between the commercial space that now houses a gallery and offices plus the three residential apartments. Among the features of this beautiful building are Dade County Pine ceilings and original beams, stained glass windows, hardwood, tile and carpeted flooring, and central air conditioning. Two of the apartments are two bedrooms (each split with a second bedroom on the second floor) and a one bedroom apartment. The commercial space has central air conditioning and the apartments have individual units. The commercial and residential spaces also have individual electric service. This property provides and excellent opportunity for a buyer looking for commercial property located in a prime area of Key West and that offers supplemental income. CLICK HERE to view a slide show of photos I took of this amazing property.


I recently showed this property and think it would make a wonderful investment opportunity for an owner/user who would use the commercial space in a manner as presently used (gallery and/or offices). The building is located just five blocks from the Monroe County Courthouse. The present office configuration appeared to be in very good condition. The location would surely attract lots foot traffic as it is located one block south of the Hemingway House and just a couple of blocks from the Southernmost Point. Tourists from all over the world walk the trek past this location daily.


I was able to see the inside of both two bedroom units. One needs a fresh coat of paint and some TLC, the other looked great.  All three units rent at market rates so they should provide good cash flow to an investor.  The apartment licenses may have been suspended by the City of Key West due to non-payment of sewer bills. A new owner will need to apply to the City for restoration of the licenses.


This property will not stay on the active short sale market for very long, especially at the asking price.  I urge serious buyers to contact me, Gary Thomas, 305-766-2642 to schedule a showing. I am a buyers agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.  Let me help you find your place in Key West.    


Saturday, September 1, 2012

1208 Von Phister Street - Casa Marina Area - Key West

1208 Von Phister Street - Key West
 1208 Von Phister Street was just listed by Preferred Properties, that's where I work but this is not my listing. The Monroe County Property Appraiser records show that this 780 sq ft house was built in 1938. Methinks the records are in error. The house has two bedrooms, one bath, and has been updated. A new owner could pretty much move right in. The house sits on a good sized lot that measures 49' x 93' (4563 sq ft) one-half block east of White Street and one block north of Flagler Avenue in the Casa Marina area of Key West.


The Casa Marina area was mostly barren land with streets but few houses until after World War II.  The aerial photo below shows only a few houses in the area when the photo was taken in the 1920s.  And since few houses were being built anywhere in the United States during the Great Depression, I think it's safe to the house as 1208 Von Phister Street was more thank likely built either before the Depression or soon after World War II ended as were many of the other houses in the area.


In June 2011 I wrote about the beautiful home directly across the street at 1205 Von Phister (photo below) that was owned by designer Debra Yates. CLICK HERE to read that blog. The Yates' house looked quite similar to 1208 Von Phister Street before it and the grounds were transformed into a lush tropical paradise. Maybe the next owner of 1208 Von Phister Street will do something creative as well.

1205 Von Phister Street
Think of 1208 Von Phister Street  as a nearly blank canvas save for the house that sits there and the edge of the canvas which are the lot lines. Look at the photos below and imagine how you could "draw inside the lines" to create your own designer paradise, just like Debra Yates did across the street.

First, you might install a white picket fence across the front of the property. Or you might insulate the house by putting up one of the privacy fences many in the Casa Marina area have done. The lot already has off street parking on the left. You might install an electronic gate  as well.

Driveway
The sunny back yard is a very large space with plenty of room for a pool plus outdoor living area. You might decide to blow out the rear wall of the house and open the kitchen onto a covered outdoor living area overlooking the pool and gardens.  I can tell you from experience that you can plant almost anything in the ground here and watch it grow. CLICK HERE to view a slideshow of photos I took of the outside of the property.


The existing house size and lot size would accommodate  a larger house and a pool.  Not all buyers want to undertake renovation and expansion. But if you do, the space is available. And the great thing about this property is the large side yard on the east side which ought to make contractor access to the rear much easier (and less costly).  CLICK HERE to view the Key West Association of Realtors mls datasheet and to see listing photos of the interior of 1208 Von Phister Street which is offered at $595,000.

If you would like to see 1208 Von Phister Street in person, please contact me, Gary Thomas, 305-766-2642. I am a buyers agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. I live in this neighborhood. I would like love to help you find your new home in Paradise.



Thursday, August 30, 2012

Beach Club Condominium #105 - Key West

Key West Beach Club at Sunrise

Shorty after sunrise at the west pool - Key West Beach Club

Do you do laps? You can here.

The Gym is snuggled between the two buildings flanked by pools on either side

Workout Watching the "Waves"

Key West Beach Club Condominiums have been one of the most sought after locations for years because there is no other place like it in Key West. Each unit faces the Atlantic Ocean head on. There are only four floors so the views vary from in perspective a bit as the floors rise. The units located on the first floor enjoy the soft sounds of gentle waves as they lap the shore from sunrise to sunset and beyond. It's almost like you could hang your legs over the balcony and wiggle your toes in the sand. You can't, of course, but you get my meaning.

1500 Atlantic (BEACH CLUB) Unit No. A 105 is offered for sale, but not by me, at the asking price of $832,000. The listing broker describes this unit thus:
"True Oceanfront living in Key West: a two bedroom, two bath end unit with fabulous panoramic views of the Atlantic Ocean. All of the quiet elegance for which the Key West Beach Club is so well known. A large private balcony overlooking native shoreline with the ocean beyond and the background of gentle lapping water day and night with the lights of White Street Pier in the distance. Amenities include two waterfront swimming pools with outdoor gazebos, tennis court and a fitness center. An unbelievably stunning and serene location."
This 1401 sq ft two bedroom and two bath home features formal entry opening onto the shared living and dining area which has spectacular views of the Atlantic Ocean through a wall of sliding glass doors that open onto a 344 square foot balcony. The master suite shares the same balcony and enjoys the same ocean views. This home is located at the end of Building A with easy access to garage parking and storage directly underneath via elevator or stairs. CLICK HERE to view the Key West mls datasheet and listing photos of this waterfront unit.

White Street Pier in the distance is where locals view fireworks on the 4th

Real tanning "beds"...

...Or Cabana Tans with cocktails?

Ocean views change minute by minute and there is nothing like watching the sky and ocean as time passes from sunrise to sunset. In the evening you can watch tiny little boats bobbing up and down and create wonderful stories about what is going on out there. Or you can mind your own business and create your own drama in your oceanfront Beach Club home.

Sunset view from the end of the White Street Pier

If you would like to see Beach Club Unit A 105 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.



Wednesday, August 29, 2012

Old Town Key West Bank Owned Property - Price Reduction



I have written about 1111 Watson Street #D a couple of times. I have shown it several times.  Buyers look. Buyers hem and haw. Most liked the place. A couple liked it a lot but then said something to the affect, "It needs some work." Well, Duh! That's is why it is priced where it is.  If it were perfect, the price would be higher.  And yesterday the asking price on this Bank Owned stand alone cottage located in a nice little Old Town compound with a shared pool to just $309,900 or only $274 per sq ft.  I did a quick price comparison to see if there are any other properties priced this low in the Old Town area. There is one: 1209 Margaret Street which I wrote about two weeks ago. Everything else is priced higher.


The listing Realtor describes this 2242 sq ft home this way:
"Cute 2/1 home in a well located, well known Key West compound. Your front door faces the shared pool! Your living room and one of the bedrooms have french doors to your private walled, landscaped wooden deck. You bath and shower are glassed in within its own private space for communing with nature. Great house for entertaining. Priced right to live in Old Town."
 The  home is located at the end of a meandering brick pathway that winds through lush tropical foliage past the other cottage style homes in this compound. The shared swimming pool and spa are located just to the front of this home.  The first time I entered this compound I was immediately taken by the quaintness of the garden area and the neat little homes located in the compound.  The gardens and open spaces are immaculate.
 This particular home sold for $700,000 in 2007. It is offered for less than half that price now. Of course, it needs some TLC, a good scrubbing, some fresh paint, and it would look much better. I told buyers I think it would make sense to  redo the kitchen and bath, rip out the existing floors and install one uniform floor surface throughout the home. I would even take out the existing windows and doors and replace with wind impact resistant windows and doors to reduce long term wind insurance premiums.  I'm not a builder, but I don't see any of these suggested projects as being terribly expensive, but I do see them as adding tremendous long term value to the property.  I just did a simple mortgage amortization that assumed a purchase price of $300,000 with 20% down payment. I financed $240,000 at 3.1% over 30 years. The result is $1,025 per month (P&I).  That, Dear Reader, is equivalent to rent on a one bedroom apartment in a funky building in Old Town.
Living room and dining area as they appear today
Adjacent living room as it appeared in 2007
 The mls states the home has 1137 sq ft of living space under air and sits on a 2967 sq ft lot. The house is basically a 35' x 29' box plus some additional spaces that add dimension and variety that make this house really unique. Two of the features that come to mind are the wall of French doors in the living area that open out to a private garden area and the once amazing bath with an indoor/outdoor shower that lets you shower under under the sun and the stars. 

CLICK HERE  to view the Key West Association of Realtors mls datasheet to view listing info. The agent says this house does not have off street parking, however the prior mls does show that parking is included. This is something to verify if interested. Other units do have parking as well.
Private deck and garden area as it appeared five years ago
Same deck and garden as it appears today - it needs some TLC
The indoor/outdoor shower as it appeared in 2007
The same area today needs a good cleaning
 If you would like to see this home or any other property in Key West, please contact me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com. I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise.



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The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.
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