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Wednesday, June 24, 2015

812 Simonton Street, Key West - Two Transient Licensed Properties

Just Listed 812 Simonton Street in Key West, Florida. The listing Realtor describes this unique property this way:
"Fantastic multi-unit property with two transient licenses! Property is divided into two sections-812 Simonton is a 3br / 3ba while 812 Simonton Rear is a 1br/1ba. Great Old Town location in an X Zone. Owner financing possible! Multiple possibilities with this property. Perfect for an investor"
 The front building is identified as 812 Simonton Street. It currently has three residential units. The front unit is a small studio apartment. The middle unit is a much larger one bedroom unit which has a transient license attached. The rear unit  is an efficiency apartment which also has a transient license attached. The rear building (812 Simonton Street - Rear) has a totally separate tax identification number and could be sold separate and apart from the front unit. That building is a one bedroom unit with kitchen, living area, a laundry, and two bathrooms plus rear deck. The asking price for both properties is $1,295,000. CLICK HERE to view the Key West mls datasheet.
I found a couple of old photos taken fifty years ago that show the front house and rear cottage that make up this property. Even back then it appears the original wood front porch was removed and a cinder block addition added to provide a bit more living space. If you look at the top photo you will see a typical cigar maker cottage type building with a sawtooth addition attached. In the far rear you will see the outline of the rear cottage which appears clearly as a distinct unit the lower photo. The backside of St. Peter's Episcopal Church is seen to the far rear. Today the buildings appear to me to be pretty much the same. The exteriors are in much better shape and the interiors have been renovated for daily rental purposes.
The house next door to the south at 814 Simonton Street is very similar to 812 Simonton Street with a couple of exceptions. The front porch at 814 Simonton Street offers a perfect place to sit and watch the world go by whereas  812 Simonton would have to be restored to create a proper front porch. The front house has a similar sawtooth addition located midway. The cottage at 814 Simonton Street rear has been expanded to two stories and there is a pool between the front house and rear cottage at 814 Simonton Street. Unfortunately there is not enough space at 812 Simonton Street to create a pool.  Finally, the neighboring property has parking whereas 812 Simonton does not have parking.
812 Simonton Street (rear) is located at the rear of the lot and is accessed via a deeded walkway that flanks the north side of the property. The front house has an easement that provides access for the front one bedroom unit and the separate efficiency unit. The third unit in the main house has access off the front entry. The rear unit is gated and totally private.
Rear Cottage Interior
Rear Cottage Kitchen
Rear Cottage Bedroom with French Doors that Open out to Deck
Rear Deck
The rear cottage is a fully contained one bedroom house with living room, dining area, kitchen with adjacent (outdoor) covered laundry, bedroom, and rear deck. The living space has all been updated and ready for monthly vacation rentals. The deck area is very attractive and very private. There is room for a hot tub or maybe even a plunge pool. The building at the rear is the backside of St. Peter's Episcopal Church. 
Living Room and Kitchen of the Front Building
Front Building Kitchen
Front Building Bedroom
 The above photos show the living room which is accessed off the north side easement. Note the vaulted ceiling where the sawtooth addition attaches to the original front cottage. The kitchen is located to the rear. The front room is the bedroom in this unit. This unit is rented as a transient rental unit.
An efficiency unit is located at the rear of the front house. It is also accessed off the north side walking easement. It has a small kitchen, bath, and living/sleeping space. This unit also has a transient rental license.

A new owner might want to renovate the front building by restoring a wood front porch and perhaps incorporate the current efficiency unit into the existing middle unit and thereby create a single family front cottage with two bedrooms, two baths, one kitchen, and a very valuable transient rental license. I believe the new owner could transfer the second transient license to the rear unit.
Neither a pool nor parking is necessary to have a successful rental.  Both are helpful but not mandatory. This property has a very good location that is within easy walking distance to most Old Town attractions. The shops, restaurants, and nightlife on Duval is just one block away. You can't get much closer than that.

Please call me, Gary Thomas, 305-766-2642 to schedule a showing of these properties. I am a buyers agent and a full time Realtor at Preferred Properties Key West.This property is listed by Preferred Properties but not by me.

Sunday, June 21, 2015

1430 Albury Street, Key West - Dream the Possible Dream

The above photos show the vacant lot at 1430 Albury Street in Key West which is offered for sale with all necessary building plans approved by various City of Key West agencies to construct a new home.  Now in most parts of America that would not seem like a big deal. But in Key West where there are few building lots and especially lots in such a prized location as this, it is a pretty big deal.  That is because the Historic District in Old Town and much of the Meadows Area and the Casa Marina Area fall under the protective HARC (Historic Architectural Review Commission). HARC is charged with the preservation and conservation of the character, integrity and appearance of the historic districts. All changes, alterations, additions, demolitions or relocations to buildings and sites must first obtain a certificate of appropriateness from HARC before any work can be undertaken. That's kinda easy to write but more difficult to obtain in real life. 
As lovely as the old CBS house was, in reality it was not worth saving. The building had spalling in a couple of locations. The owner went through the tedious process of obtaining permission from  HARC to raze the non-historic structure. The owner worked with local architect Carlos Rojas to design a two story 'Conch' Style home with about 1900 sq ft of living space on a 50' X 70' (3500 sq ft) lot. All plans have been HARC Approved and all City Planning  Department requirements met. A new owner can apply for a building permit the day you close. The hard work has been done. The house will have four bedrooms, three and 1/2 baths, four porches, a pool and deck, and off street parking. The house can be constructed with new and efficient building materials including Hardiboard siding which is easier to maintain than traditional wood siding. The home will include new wind impact resistant windows and doors. This means your wind insurance will be a fraction of what you would pay for a house with regular windows. The new house is FEMA flood compliant which will result in lower insurance costs. Your regular home owner's insurance will be less costly because it will be built to the highest building standards in Florida again as compared to old construction. These savings will be significant in the short and long term. If you don't like the approved plans,  you could revise the plans and build a different version of your own dream house. The site approvals and basic structural approvals are in place and should govern any proposed change. A new owner could revise the plans and build a different version of his or her dream house. The approvals are done. The hard part is over.
The new house will be located within easy biking distance to Duval Street and all of the noise and commotion over there. I know a lot of potential buyers think they want to live within two blocks of Duval. Believe me, you'll be much happier not having to hearing folks walking back to their hotels or rental houses at 3:00 AM or listening to Conch Train conductors re-telling stories about old Key West twenty times a day - every day of the week. 1430 Albury Street is located in a much quieter part of the Historic District, just one block from Bayview Park. You can go there to walk your dog, play tennis, marvel at the glorious Royal Poinciana trees, or participate in one of the civic events which occur at the park throughout the year. Of you can go out the back door and sit on the deck and watch the sun rise or walk the dog down lovely Albury Street which is populated with huge flowering and fragrant trees. You will fulfill your dream of living life in Paradise.
1430 Albury Street is offered with approved architectural plans at $750,000. The price does not include the cost of construction of the new home but it does include all architectural plans, surveys, approvals, etc.  CLICK HERE to view the Key West mls datasheet. I can provide more detailed information on the plans to interested buyers. Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Key West.


Thursday, June 18, 2015

610 Griffin Lane, Key West - Stunning Update of an Old Town Charmer!


 The listing Realtor describes the new listing at 610 Griffin Lane this way:
"Nestled in the heart of Old Town tucked away on a sweet, quiet lane, you will find this completely charming oasis consisting of a main house with 2 bedrooms and 2 baths, guest house with living area, loft bedroom and bath, and even a third house which could serve as a bedroom, office, or studio. Thoughtfully restored with an eye to detail and comfort, the cottages' porches overlook a delightful courtyard with native landscaping and a refreshing heated cocktail pool. The kitchen is completely renovated with stainless appliances and quartz countertop, and the bathrooms are evocative of a peaceful spa experience. This rare property is truly a haven in paradise. One off-street parking space completes this Old Town compound." 


 I found an old black and white photo of this property that was taken in 1965. Everything on the inside and most of the outside is new. The listing realtor says the house dates back to 1901.  It doesn't look that old - not by a long shot.
The front porch was opened up and steps relocated to the west end of the porch.  A bricked path was added which winds its way to the west where two additional cottages are located. There is a large court yard surrounded by various tropical plantings and trees. The rear area just stuns a first time visitor, it's that charming. It's the kind of place that immediately makes you say to yourself "I wish I could live here!" 

There are two recently (but not newly) constructed cottages at the rear. Both have been thoroughly updated by the current owner.  I unilaterally decided to call the smaller cottage a writer's cottage because it has no bath. It's perfectly adorable for just about any use including a spare bedroom, artist studio, gym or yoga studio, or a place where one could write the great American novel. The outdoor shower can be partially seen through the window in the photo above.  A guest would have to use the bathroom in the larger two story building or one of the bathrooms in the main house. CLICK HERE to view more photos I took of this really charming property.
The original house has been updated as well. The kitchen is all new and features beautiful cabinets, stainless steel appliances, and quartz counter tops.The kitchen doorway opens out to the cocktail pool which you'll see shortly. The kitchen floors are new porcelain tiles. The wood floors in the house are original to the home and have been refinished.

There are two porches that open from the the living and kitchen areas. The front porch runs the length of the house from the front gate and the courtyard side covered porch provides both sitting and outdoor dining space.
There are two good sized bedrooms and baths in the main house. And there is separation between the rooms so the other occupants can't listen to bickering or anything else. That's an important part of any home, whether it is permanent housing or a space that is used as a vacation rental. People want privacy. This property provides it.
The French doors visible in the photo second above open out to cistern that was converted into a cocktail pool. No diving allowed unless you want to crack your noggin. The space is smallish, but there is a pool and a place to sun.  If you want to be near people and lots of semi-naked bodies, Dante's is located just a couple of blocks to the north. Five Brothers Deli is one-half block away on the corner of Southard at Grinnell Street. Duval Street is a five minute walk to the west.  

CLICK HERE to view the Key West mls datasheet and listing photos of 610 Griffin Lane which is offered for sale at $1,495,000. This is a 1600 sq ft property with three bedrooms, three baths, an outdoor shower, cocktail pool, and one off street parking spot.  Please call me, Gary Thomas, 305-766-2642 to set up a private showing. I am a buyers agent and a full time Realtor at Preferred Properties Key West. You're gonna fall in love with this one!

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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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