832 Johnson Lane - Old Town "Fixer" - Key West

I recently showed 832 Johnson Lane to some buyers who had expressed a willingness to buy a fixer and to spend some money and devote some time to turn an older house into one of the dream cottages we've all seen in Old Town Key West. The little cottage on Johnson Lane was a bit more of a challenge than they imagined.  I, however, saw the place differently.  I think it is worth your consideration if you are one of the buyers with some cash, a willingness to work (or hire someone who will), and an imagination as to how you could transform the cottage into some pretty special.

Just below is a photo of 832 Johnson Lane that was taken in 1965.  I took the photo below it to show the same house nearly 50 years later.  Our HARC (Historical Architectural Review Commission) will need to approve changes to the building.  I think a new owner may get permission to enlarge the house which would increase the small and inefficient interior the way it presently exists.  Nothing is a "given", but I see no reason for HARC to not allow some expansion of the house because the rear lot is so large.  The existing house one bedroom/one bath is 527 sq ft and sits on a 2633 sq ft lot or 25' x 116'.  

832 Johnson Lane as it appeared in 1965

 As we walked through the house I knew nothing on the inside was worth saving. The rooms are small and cluttered. That's why there are no interior photos. The cottage will need all new everything - that is a given. It's what you can't see from the street that makes me think a creative individual or couple might turn this place into something much greater than it is. And what you cannot see is the huge backyard.

 This photo was taken from the back step of the house and looks south. There is no back porch.  I have added graphic to show the lot line at the rear.  As you can see there is a lot of open space from the house to the rear lot line. The plumeria tree (some call it a Frangipani) is not protected. It can be removed to provide room for lot development such as adding a pool.

The above photos were taken from the rear lot line looking toward the house.  You will not the small extension at the rear of the house. That is where the bathroom has been added. The original "out house" still sits opposite. The blue chair sits in the middle of it.  Don't laugh.  Your architect may be able to expand that space into a pool cabana. It sits on the property line and current code would not allow any new structure to be built that close to the property line. However, existing buildings can be expanded.

This final photo shows the condition of the rear piers or foundation.  This is typical of many older homes in Key West that have not yet been renovated. Many of the lovely homes you see on the streets and lanes of Old Town used to look something like this. Some were much better to be sure, but others were worse.  Our local contractors are seasoned veterans when it comes to dealing with fixing old foundations which really are essential to any good renovation.  Once the foundation is in place, the interiors are easy.

A house like this would get all new electric, plumbing, windows may need to be replaced depending on condition. Exterior siding may need to be repaired, prepped for painting, and then painted. A smart buyer would take off the existing roof and replace it with a new roof with necessary straps to obtain maximum mitigation credits for windstorm insurance. I would definitely add a pool and rear deck.  I wasn't kidding about using the old out house either. You might be able to convert that into a guest cottage with a bed and bath or a pool bar at minimum.  You don't know what you can do until you ask. 

Johnson Lane is only one block long and runs parallel between Truman Avenue to the south and Olivia Street to the north. Entrances are located on Windsor Lane (that intersects at Truman where Mary's Star of the Sea Basilica) and Margaret Street.  The lane itself is a mix of very pricey town homes and a couple of very nicely updated homes and a few little cottages like 832 Johnson Lane that await a new owner.  Below you can two neighboring houses. 

Next door

Across the lane

832 Johnson Lane is offered for sale at $600,000.  CLICK HERE to view the Key West mls datasheet for more information.  I would add the property is owned by an estate with numerous heirs.  I have written about other estates before. My theory is that heirs want to sell and divide the money.  If I were a buyer, I would submit my offer based on what I think the property is worth - what it would appraise for in its current condition. This is especially true if I were going to obtain a new mortgage. A lender will not finance a property for more than its appraised value. Therefore, I would make any offer contingent on the property for appraising not less than the contract price. 

If you would like to see 832 Johnson Lane or any other house 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.

1220 Von Phister Street - Casa Marina Area - Key West

Preferred Properties Key West just listed 1220 Von Phister Street, that's where I work but this is not my listing.  This 2064 sq ft home is a bit of an anomaly for Key West in that it is an historic home located in what is mostly post mid-century and later neighborhood. This home is one of the few such homes that were built around the turn of the last century. And it is this 'old school' construction that may just appeal to buyers who dream of owning an historic Key West home that is located within walking distance to the beaches.  Click GOOGLE MAP to view the location and use the toggle switch for a street view. 

The listing Realtor describes 1220 Von Phister Street this way:

"Well maintained two story home with exposed Dade County Pine walls located in excellent neighborhood.This is the perfect place to get away from it all. Superior master suite with private balcony, large bedrooms and spacious living area. Large hot tub and storage shed in back yard. Upgraded Kitchen with stainless appliances. Two zone A/C and generator. This is not a drive by."

The Dade County Pine walls in the family room and living room were pickled and give these living spaces a clean and relaxed feeling. The walls in adjacent formal dining room were painted a muted yellow that harmoniously blends with the living spaces. Just to shake things up, the Dade County Pine walls and ceiling in kitchen were given a the familiar clear coat.  Crisp crown moldings and baseboards trim out these rooms. 

A guest bedroom and bath complete the first floor.  An extra large guest bedroom is located at the front of the house on the second floor. This room is large enough to serve as a second master bedroom for couples that require separate bedrooms.

The master bedroom with en-suite bath and rear covered balcony occupy the balance of the second floor. The bedroom is distinguished by coffered ceiling, and  French doors open out to the porch area that overlooks the spa below.

One of the biggest problems potential buyers see in many Old Town homes is the meager size of bedrooms, bathrooms, closet space, etc. Too many Old Town homes seem cramped especially compared to the living spaces many buyers are accustomed to up north in America.  If the above photos don't convince you that 1220 Von Phister Street has abundant space, CLICK HERE to view more photos.

1220 Von Phister Street is located four blocks from Higg's Beach and the Atlantic Ocean.  It's an easy five minute walk which, if you have a dog, you will likely take at least twice a day.  There you will find the White Street Pier, a dog park, the beaches, the West Martello Garden (which is home to the Key West Garden Club), Salute on the Beach, and public tennis courts and two children's playgrounds.  There is always something going on at the beach, even if it just getting a tan or posing for photos in the new object I have dubbed "the thing" that looks like it descended from space.

CLICK HERE to view the Key West mls datasheet on 1220 Von Phister Street and then please call me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com to schedule an appointment to see this new listing. I am a buyers agent and a full time Realtor at Preferred Properties Key West. 

1101 Fleming Street - Old Town - Key West

Just listed, but not by me, one of the most familiar little cottages in Old Town, 1101 Fleming Street in Key West, Florida.  The listing Realtor describes this home as:

"Renovated iconic Old Town conch home in a great location at the heart of Key West's Historic District. 1101 Fleming Street has been featured in paintings, photographs and television ads. Classic yet modern, the living room has vaulted ceilings and light bamboo floors. The modern kitchen features maple cabinetry, pool-tile countertops and stainless appliances. Both bathrooms are beautifully designed with vintage fixtures. Beautiful, private outdoor area perfect for entertaining also includes a covered, decommissioned pool."

This home is located at the corner of Frances and Fleming Streets. Two bikes are anchored to the white picket fence that borders the lot like lace on your grandmother's table cloth. The front gate and nearby mailbox announce the location as Le Folie - The Madness.

The original house was built circa 1899. It has been updated several times over the years, but it is the current owner that breathed fresh air into this little home and gave new life for this new century.

Once you enter the home you are greeted by what appears to be a voluminous room with vaulted ceiling. As you look around you realize the mirror on the far wall and clever furniture placement has tricked your eyes. But what a nice surprise that is. While the spaces are compact, the house has all that one needs for a permanent residence or a getaway cottage that would be an instant "hit" as a monthly vacation rental.

The home has two bedrooms and two bathrooms. One bathroom is located off the center hallway and serves as a guest bath. I must tell you I was awed by this bath. Wow!  The room is so sophisticated in its design.

The center hall with new bamboo floors lead from the bedroom area, past the living space, through three sets of French doors that open to the private outdoor area. There is a pool located under the rear deck. The current owners did not want to use the pool so they covered with decking. The listing Realtor and I discussed the deck and both concluded the pool could likely be filled with water and made to function again without much difficulty. (That is assuming the equipment works after not having been used for five years. But even if the equipment does not work, the cost of installing new equipment would be less expensive than building a new pool.)

This home is in move-in condition.  It is as pretty as a picture and if you CLICK HERE you can see more pictures of this lovely cottage home that is offered at $679,000.

CLICK HERE to view the Key West mls datasheet and to view listing photos. Interested buyers should not sit on the sidelines and watch this for very long.  I expect this home will go under contract within a couple of days. There are a limited number of small homes in move-in condition in the Old Town area. And I really don't think there is anything comparable to this home and priced as reasonably as this.

Please call me, Gary Thomas, 305-766-2642 to schedule a showing of this home. I am a buyers agent an a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise.

Big Deal in Little Key West

 It was announced today that LaSalle Hotel Properties purchased the 260 room Southernmost Hotel Collection in Key West for $184,500,000. The four hotels are the Southernmost on the Beach, Southernmost Hotel in the USA, and LaMer and Dewey House.  The price equates to $700,000 per room key. I am only reporting this sale. I had nothing to do with the sale!

Michael D. Barnell, CEO and President of LaSalle Hotel Properties said "We are very excited to have acquired this unique, extremely well located asset." "The property is located on the ocean in one of the strongest U.S. markets..."

In May 2013 Ashford Hospitality Trust, Inc. purchased the Pier House Resort and Caribbean Spa for $90,000,000 or $634,000 per room key. 

Also interesting to note is that several large guest houses have been sold in the past year including The Cypress House, Oasis Guest House, Coconut Grove Guest House, Coral Tree Guest House, Papa's Hideaway Guest House, and Big Ruby's Guest House.  There's big money keeping heads in beds in our little town.

There are a couple of guest houses still for sale in Key West. Now is the opportune time to purchase so that you will have time to get new financing in place, do your training, and get ready to see the money flying in the doors.  If you have been thinking of buying a guest house 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.