1075 Duval Street #R32 - Licensed to Make Money - Key West

Just listed, but not by me, a Bank Owned condo located at 1075 Duval Street in Duval Square.  This property will certainly attract a lot of potential buyers very quickly because it has a Transient Rental License and it is a 3 bedroom unit. Both of these features mean that a new owner could rent this property on a daily basis throughout the year and make a potential fortune over a period of years. Read on, Dear Readers.

This property was previously managed by a local property management company that described this unit this way:

"Located in Duval Square (between Duval Street and Simonton Street) where fine and varied dining abounds (Square One, Origami Sushi Restaurant and New York Garden Cafe), Casa Key West is a second story, well priced unit sitting atop New York Cafe and is just steps from the sights, sounds and excitement of world-famous Duval Street.

The foyer opens to the expansive living room with vaulted ceilings, dining room with seating for six and kitchen. Three banks of double French doors opens to your private balcony overlooking the tropical gardens around New York Garden Cafe and large Poinciana tree. Two large, brightly colored macaws in the courtyard will amuse you with their antics.

The master bedroom has a king bed and French doors opening onto a private porch with seating. An in-suite bath with large Jacuzzi tub, shower and large vanity completes this spacious bedroom. The second bedroom features a queen bed, large walk-in closet and frosted French doors opening to the hallway.

The third bedroom has two twins or a king bed and double French doors opening to a private balcony. The queen bedroom and twin bedroom share a large hallway bath with skylight.

This spacious unit has access to a large pool and covered gazebo. On the ground floor is a secured garage for parking your vehicle."

New York Pizza

Please note that none of the furniture or contents are included in the property at this time. The place is vacant.  Not to fret, however, as this gives a new owner the chance to go in and re-outfit the place the way he, or she, or they, or you want.  Below you will see photos from the former property management website that show how the unit was previously furnished.  Then look at the photos I have added that show the unit as it sits today.  Figure how you could improve this place, make it your own, and make it make you a bunch of moo la.

3rd Bedroom

Master Bath

Master Shower

Second Bath

The previous property management company rented the unit between $318-$428 per night depending on the date and the number of people using the unit. I always encourage potential buyers to look at numerous property management websites to checkout the rental prices of similar units to one they are considering to purchase.  A new owner might want to go back to the prior property management company which probably has a database of previous happy vacationers who would like to stay in the same unit again. People are creatures of habit. Many return to stay in the same condo year after year because they feel comfortable. This is an intangible value often overlooked by prospective buyers.

I am a big fan of small spaces and tiny places, but sometimes, let's face it, bigger is better. If you and your family have traveled to Key West and have stayed in a Shipyard Condominium, for example,  you would have likely stayed in a two bedroom unit with one bath because that is how most were built.  A typical unit there is about 680 sq ft.  Compare an average Shipyard unit to this unit which is 1492 sq ft on one level.

This unit has three bedroom and two baths as opposed to two bedrooms and one bath at Shipyard.  Families traveling together can often accommodate the tighter quarters because they typically live together back home. But friends or extended families may not appreciate the noises and cramped quarters associated with smaller spaces. And, there is a private balcony located off of each bedroom.

Master Bedroom Deck

 Also consider the size of the pool and number of people who you might likely have to share  with. Finally, the transient licensed units at Shipyard may only be rented as transient units for 25 weeks per year. This unit at Duval Square can be rented to a different person 365 days a year.  That's not practical but it points out the money making potential of this unit over Shipyard as just one example. I like Shipyard, don't get me wrong. This place just has more income potential in my opinion.

This town home unit is part of the condominium association. An owner must pay $489.95 in monthly fees which covers cable, trash removal, exterior maintenance and building insurance, and common area and pool maintenance.

Duval Square has a nice rooftop pool, covered parking, and a great location which is within easy walking distance to most of Old Town. It is located on the quieter side of the Island but close enough that you can be where you want within a matter of minutes during most of the year.  There are a couple of nice restaurants at the Square and a lot more within a couple of blocks including Among my favorites are world famous La Te Da, 915 Restaurant,  and many more. South Beach is an easy jaunt to the south. Ft. Zach Taylor Beach is a good hike, but you'll enjoy the walk or bike ride to get there.  Mallory Square and the pubs of lower Duval Street are there for those who have a passion for crowds. And then there all those T Shirt Shops, galleries, and places for cheap eats where you can enjoy all that Key West has to offer.

LaTeDa

915 Duval Restaurant

CLICK HERE to view the Key West mls datasheet on this property. Or CLICK HERE to view photos I took of this unit and Duval Square.  A few years ago I worked at a different real estate office which was located at Duval Square. I would watch new groups of tourists arrive daily to take up residence at one of the units located there.  This place draws a lot of vacationers. It is convenient. This is a property you really ought to consider. And you need to act quickly because this place will not last long, especially at this price.

If you would like to see this unit or discuss the property, 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.  Buy this unit and start making money.

1309 Catherine Street - Key West

Just listed by Preferred Properties, that's where I work, but this is not my listing, 1309 Catherine Street in Key West.  Some very lucky person is going to snap up this one-of-a-kind property that is offered at just $1,195,000.

If you were to walk your dog, ride your bike, or jog past the imposing concrete wall that hides the interior from public view you might wonder what lies beyond the wall. But then again, you might just mind your own business and go on with your life. But if you got a chance to go through the gate to the interior you would be amazed at the totally hidden and unexpectedly enchanting secluded gardens.

The house itself is a simple but elegant 1200 sq ft ranch that sits at the rear of the 7340 sq ft lot.  The house has two bedrooms. The guest bed and bath are located to the west of the living room which is in the center of the house. The kitchen is located just off the living room to the east and the master suite is at the east end of the home. You will find the terazzo floors located at poolside continue to the kitchen and living areas for a seamless transition between outdoor and indoor living areas. The ceilings in all rooms are extra tall and open so you never feel cramped inside a tiny space. Instead, the views from all interior rooms are those of the pool and gardens.

Both the master suite and the guest bedroom have sitting areas off the bedrooms where you and your guests can read a book, sip coffee or a cocktail, and enjoy the fruits of your good fortune.

CLICK HERE to take a photo tour of 1309 Catherine Street. Better yet, please call me, Gary Thomas, 305-766-2642 to schedule a personal tour. I am a buyers agent and a full time Realtor at Preferred Properties Key West.

307 Elizabeth Street - Old Town - Key West

 
Just listed, but not by me, 307 Elizabeth Street which was built circa 1885 according to a property appraiser record I found. The mls shows the property as having been built in 1928, however.  If I am correct, and I am pretty sure that it the case, 307 Elizabeth Street would be one of the older houses of Key West. It is located in the Historic Key West Seaport area on a street with other substantial homes that survived the great fire many years ago. The house has been made into three legal apartments plus appendages.  I think a new owner may want to restore this property to its former glory and take it back to being a single family home complete with a guest house and off street parking.

307 Elizabeth as seen in 1965

307 Elizabeth in 2012

The property has 2302 sq ft of living space that is divided between the main house, a second floor apartment with exterior side entrance, and a cottage that sits to the rear of the driveway. There is an existing pool as well.  The lot is 50' x 93' or 4650 sq ft.  307 Elizabeth Street if offered at $879,000. CLICK HERE to view the mls datasheet.

CLICK HERE to view a slideshow of photos I took of this property.  Better than that, 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 Coastal Realty, Inc. in Key West. Let's take a look at this old girl and figure out how you could restore her old glory.

Key West: The Opposite of Ohio

It was at the Key West Literary Seminar that poet Mark Doty said that, although “he was never actually here,” Hart Crane “loved Key West.” He loved Key West because it was, by all reports, the opposite of Ohio.*

 I watched HGTV's Urban Oasis giveaway on Friday night. I have to admit I got sucked in for a few minutes by the sleek lines of the Paramount Bay high rise condo.  I mused about winning the $900,000 condo and then thought to myself "Self, if you win, you will have to pay income tax on that thing. Do you really want to own a condo in Miami-a town where people are shot and killed daily for no reason? A place where most people don't speak English and have a culture that is alien to you? Do you really want to live up in the sky?" I admit that I filled out the online registration. I figured if I won I could sell the condo and make a few bucks because I really, truly would never want to live in Miami just as much as I would not want to live in Ohio.  

If you live in Ohio, please don't be offended. A lot of nice people live there. I sold houses to two different Ohio couples in the past couple of years.  They area really nice people who really didn't like living in Ohio in the winter when it was so cold and miserable. And they didn't like Ohio much more in the summer when it is so muggy. No, they dreamed of owning a little house in Key West where they could live a much easier environment in so many ways. One young couple bought a house I wrote about in my blog. They are raising their two little girls in a charming house in a quiet Key West neighborhood. I saw the mom and the two girls in their stroller on Sunday morning as I was taking photos for my blog. I asked how things are going, and she responded "I'll never leave Key West!" The other couple is older and don't have children. They bought a house maybe four blocks away from the first couple. A couple of months ago I saw them driving their Key West convertible with the top down.  They were in the turn lane at White and Truman. I asked how they were doing and they said something like "loving life". 

A couple from the northeast decided to buy a big lot in the Casa Marina area and build their dream home from scratch.  They hired a noted Key West architect, an accomplished landscape architect, and  very competent builder to turn their vision into reality.  The photos below show the view from their master bedroom and the new pool and gardens which are a dramatic alternative the HGTV Urban Oasis.  
 

My buyers could have bought a place in Miami and got a view similar to the one that some viewer will win in the HGTV Urban Oasis giveaway.  They chose the opposite of highrise living in a big city. I'll bet Hart Crane would agree with their decision.

If you have been dreaming of buying a place in Key West, please consider working with me, Gary Thomas. I am a buyers agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. Let me help you find your place in Paradise.

*  ABOUT THE BEATS   Read this most interesting account of Hart Crane by Mark Howell of Key West.