401 South Street, Key West - New Lower Price on One-of-a-Kind Property

 

"Through the crystal-clear air Lori could hear the ringing of the agent's bell...that had begun when the package had first been sighted, carefully picking it's way past the outer reefs toward the lighthouse at Whitehead's Point."

          - Thelma Strabel, Reap the Wild Wind

 401 South Street, Key West sits opposite what was once called Whitehead's Point. Tourists from all over the world come here to take photos as a remembrance of the best vacation of their lives. I would suggest the ideal buyer must really like people because people will stand across the street from your home every day to take photos of themselves for as long as you own the property - or as I did the wee hours of the morning when nobody, not even the who wakes up our chickens, was awake.

But at night when the tourists have moved down to Mallory Square to view the amazing Key West sunset, you will have the view of the old Whitehead's Point to yourself.  You can watch the nightly sunset from your main level or second floor balcony with a view nobody in Key West can ever have. The balmy breezes from the Atlantic Ocean will brush the palms that flank this corner property.  At night after the tourists are gone you will hear the sound of tiny waves as they lap the coral rock where South Street and Whitehead Street meet at the place now called the Southernmost Point. This is the yin and yang of this property.  

The original house is constructed of Indian Block, a man-made material similar to modern concrete block except that Indian Block has a finished decorative carved-rock aspect. Over the years the original front porch and second floor balcony were modernized as is shown in the 1965 black and white photo.   What you may not see unless you look at all the photos with care is that 401 South Street has three bays: The front bay is obscured by the enclosed front porch. The east side bay is not visible from the street whereas the west bay is quite prominent as it can be viewed by all.

The immediately above photo shows the front bay on the main floor. The house plus the rear bungalow have been divided into three legal living units. The first floor and second floor currently used as separate apartments and are pretty much carbon copies of each other as to interior layout. The original interior staircase has been removed, but a portion of the stairs still remains. Re-installation of a staircase would be fairly simple were a new owner want to restore this home back to a single family residence.  Note the extra large crown molding that wraps the front bay. The crown molding can be found in all first floor rooms. I did not take a tape measure with me when I photographed this house. My guess is that the ceiling height on the main floor is at least ten feet tall.

The above photo was taken in the dining room on the first floor. The west bay window is visible on the extreme left. The front porch is enclosed with screen. Even the screen can't diminish the view of the ocean.

The west second floor bay shows the superior condition of the Indian block construction. The next photo shows some of the original detailed stone work that is still in excellent condition. It would be interesting to see how a current day architect might reinterpret the original porches to restore some of the historic appeal of the house while retaining privacy for a new owner.

The views from the second floor deck are pretty impressive.  Imagine sipping your morning coffee from the second floor balcony before the tourists arrive.

A simple bungalow is located at the back far east side of the lot. This space is basically an Old Florida bungalow with grassy yard, palm trees, and louvers that keep the sun and rain out but that allow air and sunlight in.  Ralph Lauren would have a field day decorating this little gem. The bungalow would make the perfect guest cottage. There is plenty of room for a pool and still retain off street parking for two cars.

The main house and bungalow total 2845 sq ft of interior living space. The lot is 76' wide and 100' deep. There is room to expand the main house and bungalow. I took more photos and share historic photos I found which you may view if you.

CLICK HERE to view the Key West MLS sheet for 401 South Street, Key West now offered at $2,895,000. Photos in the MLS link show the house as it is today rather than when I photographed in 2014. Better than looking at photos or reading a blog, please call me, Gary Thomas, 305-766-2642 to arrange a private showing of this special home. Today's blog is an update of one I wrote in 2014 when this house was for sale then. The current owner updated the house after that purchase. But it still remains three units. It deserves more. I am a buyers agent and a full time Realtor at Preferred Properties Key West. 

 

Key West Real Estate Throwback Thursday No 35

from November 3, 2008

Believe in Change

That freckle faced 17 year old kid on the right side of the photo is me way back in 1964. The guy next to me is now an attorney in Denver, and the girl on the end was my first love interest. We were at the old Stapleton Airport in Denver at a rally for President Lyndon Johnson. I was president of the Jeffco Teen Dems (Denver's western suburbs). We had a crew of about 120 teenagers that had been inspired by JFK who wanted to see his legacy continue under the new President. (That was before Johnson took us to the dark side in Viet Nam.) We were true believers in all that is good. We helped as best we could to see that LBJ won Colorado in 1964 election. 

 He won that race by a landslide. Big time. My view is that Johnson's landslide victory was a ratification by the American people to extend the promise of President Kennedy. The Republican candidate, Senator Barry Goldwater, was portrayed as a demon and a war monger. Looking back more than 40 years later I don't know if anybody could have beat LBJ. Ronald Reagan pulled off a similar landslide in 1980 when he decimated sitting President Jimmy Carter. Reagan's entrance into the White House was the beginning of a shift to the right in public policy. There was to be less government than envisioned by JFK & LBJ. 

Twenty-eight years have passed. Our world has been shaken by the events of September 11th, our involvement in a war without end in Iraq, the pernicious partisanship on both side of the aisle in Congress that keeps the peoples business from getting done, and the near collapse many segments of our economy. Everywhere people want change. It's not even about who is to blame. It is just to change the way things are done. After his election as President, LBJ got a lot of programs through Congress that President Kennedy had been unable to do including the Voting Rights Act and the Civil Rights Act of 1964. The Civil Rights Act prohibited discrimination in public facilities (restaurants and hotels), in government, and in employment, and it invalidated the Jim Crow laws in the southern U.S. It became illegal to compel segregation of the races in schools, housing, or hiring. It also created the Equal Employment Opportunity Commission. Prior to its passage I remember getting into screaming matches with white adult men who were opposed to this legislation. They are all old men now, if they are still living. I wonder if they are afraid of having a black man as President. They were afraid of having a black man having civil rights back then. 

I remember the collective sense of loss all Americans felt after September 11th. It was the worst day in my life, and I wasn't even there. I was in Key West. I knew things would never be the same again. I recall that later that day Republicans and Democrats stood in front of the US Capitol as the Speaker of the House said "Senators and House members, Democrats and Republicans will stand shoulder to shoulder to fight this evil that has perpetrated on this nation. We will stand together to make sure that those who have brought forth this evil deed will pay the price." And they did. For a while. I remember watching President Bush climb atop a pile of rubble at the site of the World Trade Center on September the 14th. He spoke with determination into the megaphone and said "I can hear you, the rest of the world hears you, and the people who knocked these buildings down will hear all of us soon!" No matter how much many of us disliked him or his policies or how he became President, he was our President. We stood behind him. We were one. 

 Seven years later the list of woes is endless: the two wars, the housing market collapse, the bailout, the recession or whatever you want to call what "it" is that we are living through, the loss of American jobs, the high cost of gas and its impact on everything we consume or use, the mounting national debt and the impending social security surge, the lack of affordable health care, the decline of American education, the loss of America's prestige in the world, the illegal aliens, and so on. The polls and pundits are predicting a landslide for both Obama and the Democrats in the House and Senate in tomorrow's election. I do not know a single person who wants our current way of living to continue. Everybody wants change. If the American public gives the new President a chance and stands behind him, like we did with President Bush after 911, maybe we will see the change we all want.

 October 2021 update. I remember thinking America changed when it elected President Obama. I thought we reckoned with our past and were ready to into a new era. I was wrong. Thirteen years later the half or the American public does not believe that Joe Biden even won the election. Elected officials across America are messing with our recovery from the pandemic with the goal of taking control of all vestiges of power in 2022 and 2024. Kinda scary stuff when you think of it.

True Tales of Key West Real Estate in the Times of Covid 19 - No. Thirteen

Not too long ago I was passing time with a local real estate attorney before he was to close a deal I was working on. We traded a couple of stories about this and that when I mentioned the name of a former head honcho at a Key West bank. The lawyer's ears perked up. I knew the bank officer was let go after the bank where he worked was closed by the FDIC. The FDIC often keep the big shots and operations managers to maintain institutional knowledge.

The lawyer told me the acquiring bank kept the former honcho for a short time and and then sacked him for theft. Not money. Toilet paper. Banks keep meticulous records on money. Apparently they keep tabs on toilet paper as well.

 

1302 Reynolds Street, Key West - Just Listed in Casa Marina Area

Just Listed: 1302 Reynolds Street, Key West. This smart looking 2/2 is move-in ready and priced to sell. Offered at $1,150,000. Let's take a look outside and then sneak a peek inside.

The house sits at the corner of Reynolds and United Streets. A white picket fence with gated entrance entrance welcomes visitors into this unexpected treasure. 

I had searched through my old shoebox for historic photos of the house. I could not find any. I found photos of nearby houses and then realized the house originally faced United Street and that the enclosed east side porches and deck expansion re-oriented the house toward the east and that the address was changed to Reynolds Street. Upon seeing the house in person I saw a gate on United Street on the west side of the house with steps that led up to a new wood wall with no doorway. The interior space on the opposite side of where the doorway was is now the kitchen. The practical affect is that the interior is more functional, the original front facade is replaced by a bay window in the new dining room, and new entrance on the east if charming and expansive.

South facing French doors open out from the living area to a covered loggia with bar-b-que grill and spa not far aside.  One of the two bedrooms each with bathroom can be seen in the photo above. Each room in this house has tall ceilings compared to many of the houses in Old Town. Tall men will feel comfortable here. 

A side porch became a part of the interior and a bay window replaced what would have been the original front porch. The kitchen is cheerful and practical. It provides an open living concept which includes the now enclosed porch and the living room. There is not any wasted space with hallways. The 1020 sq ft of living space is real living space. The guest bedroom has a door that opens out to the west side of the house. I noticed the west property line fence was just replaced and that the house appears to be freshly painted. The windows were replaced and all openings have shutters. The main decks are TREX Decks. The west side deck is wood.

The house does not have parking or a pool. But there is ample parking on Reynolds Street and there is more than ample swimming available six blocks south at the Atlantic Ocean. Guests can walk to upper Duval Street in about five to seven minutes. There is a gym on Truman Avenue and numerous small shops and restaurants on White and Truman. I sold the house next door twice. It was a successful vacation rental for the previous owners. This property could be equally successful as a vacation rental, however, the current owner does not rent it. 

 

CLICK HERE to view the Key West MLS datasheet and listing photos plus Matterport tour for 1302 Reynolds Street, Key West offered at $1,150,000. Then please call me, Gary Thomas, 305-766-2642, to schedule a private showing. I am a buyers agent and a full time Realtor at Preferred Properties Key West. I live in this area and can attest to the joy of living here.  

Key West's Hot Real Estate Market - Caught Off Guard Twice in Two Weeks

I was in Colorado two weeks ago when Roger Emmons of Truman and Company listed an empty lot across the street from where I live for $1,450,000. The corner lot is just 4,265 sq ft or 91' X 47' feet. I previously wrote about the property when there was a 1950s house and pool. Current owner owns the property across the street and took the existing house down and filled in the pool. He bought the property for its land value. He paid $1,182,747 in March 2020. The lot sold in two days on the market and closed this week for $1,400,000 ($328 per square foot land only) or a profit of $217,253 in 18 months. Not bad I'd say.

I remember showing the formerly listed property to a know it all who already owned a home here. I told him the value of the lot by itself and suggested he snap it up, rent the place out as is for a couple of years and bank the property. He declined. 

Earlier this week Dan Skahen in my office told me he was listing 411 Louisa Street and asked me if I had any buyers. I do. But they are up north making money. I sent them info but waited for the MLS to appear so I could send them current photos. My buyer responded he could not come down to look until October 15. The house was listed on Oct 4 for $2,975,000 and went under contract on October 8th.  The agent told me he had three offers the first day it was in the MLS.

I have buyers coming town to look for a nice place they can rent and retire  to in a few years. They are hoping to find a place under $1,000,000. I sent them two places that meet their cireteria. They responded they remember places in Truman Annex that sold in their price range. First the only property currently listed in Truman Annex is offered at $3,700,000. And there are few properties on the island listed under $1,000,000. What buyers could buy a year or two ago no longer exist at or near those price  points. 

Key West Real Estate Horror Stories - Below SubZero

This really happened. About 27 years ago. That Key West business that I dealt with is no longer in business. Thank God.

In October 1993 I purchased a former guest house in Key West at a public auction held by the Small Business Administration. The SBA had foreclosed a mortgage on an operating guest house located in a prime Old Town location. The building sat boarded up for two years. I took possession in December 1993 and undertook the clean-up and moved forward to re-opening the business.

I drove out on Roosevelt Boulevard to a local appliance dealer that sold SubZero appliances. I purchased a new stand alone refrigerator and stand alone freezer. I previously owned a SubZero in Denver and knew it to be reliable brand. I wanted the best. Not the cheapest.

We had just refinished the wood floors in the kitchen. They looked great. The delivery truck arrived. The appliances were already unpacked from the shipping boxes. The deliverymen put each appliance on a dolly and brought them into the kitchen. The floor was scratched in the process. It was a huge gouge. Repairable, but annoying. 

The deliverymen set the appliances up and left. Within a few weeks the freezer acted up. It did not work. I called the dealer who sent a repairman. It worked until it did not work again. I called the dealer who sent the repairman who messed with it and then left. It worked until it stopped again. I called the dealer who said he could not deal with ME. 

This was 1994 - before the Internet and Google. I found the name and fax number of SubZero. I sent a FAX to the President of SubZero  in Wisconsin and detailed my problem.

A day later. One day later. Not two days or a week. A day later. I got a telephone call from the president of SubZero's secretaty who said she would refer my problem to person in Florida. A day or two later I got a phone call from that person. He was a state or regional honcho. He asked a bunch of questions including the Model Number and Serial Number on the freezer. There was none. NONE. 

I know what identification plates look like. There was none. The guy on the telephone was distressed. He said he would come down himself. He did. He was PISSED OFF. There was no plate on that SubZero. Somebody was f****ng  with his product.  Within a couple of days he had a brand new freezer delivered to me that was still in the box.

The local dealer I dealt with in Key West is no longer in business nor is the repairman. Locals know their names. Their names are not important. SubZero as brand stood behind its products and took care of my problem.

4 Gecko Lane, Key West - Just Listed

 

4 Gecko Lane is one of my all time favorite properties in Key West. I think I saw it the very first time in 2003 soon after it was listed for sale. It was at that time a one-of-a-kind property where two houses were made into one. A few other people copied the concept but the original remains the best. The property even appeared in Vanity Fair Magazine in the mid 1980s just after the initial renovations were being completed. Let's look at some photos to see why this home is so special.

Gecko Lane is one of those Slow Lanes of Key West that I muse about. The lane is located on the north side of Eaton Street between Margaret and William Streets. If you blink while riding your bike or car, you will miss it. That is why locations like this are so sought after. They are hidden gems. Upon arrival at the front gate you enter a courtyard of what looks like three buildings separated by a large pool. As you move inward you see beautiful wood decks frame the pool as a piece of art. The gazebo at the side "connects" the master bedroom cottage with the main house.

At first look you may think the property is rather confined. But you would be mistaken. The lot is actually quite large - 6,312 square feet. The lot is an irregular rectangle that measures 161' X 45'. There is a huge yard at the rear for parking access off Roberts Lane. And there are several garden areas, patio, and outdoor shower. It's not so small after all.

Once you step inside the main living area you will be awed by the simplicity of design. Dade County Pine is framed by crisp white trim, baseboards, and crown molding. One of the two guest bedrooms is located just off the living area which has an adjacent bath. 

A second guest bedroom is located on the second level. I find these spaces just special for brothers-in-law. I think grandchildren would love this space. Kids dig privacy and unique spaces.

There is lovely patio opposite the kitchen with a portion of the garden in view just beyond. Tropical foliage envelopes the entire lot.

Even though the master bedroom has a cathedral ceiling, the area is quite cozy and romantic. Imagine opening the door for a late night dip before going to bed. The master bath has two sinks, lots of storage, a marble bath, and separate WC. If you are like me, you will prefer the outdoor shower. There is nothing like showering under swaying palms or starry nights - especially when people up north are freezing in the cold of winter.

I searched the Historic Sanborn Fire Maps to try to determine when the cottages were built. The county tax records suggest the houses were built in 1925. But the 1912 Sanborn Fire Map shows both cottages existed as of that date. The lane was little more than a walkway and was not given a name of record. I added arrows to show Roberts Lane which now has an electric gate leading that opens into the rear undeveloped lot at 4 Gecko Lane where the current owners parks the car. Roberts Lane exists onto Caroline Street. The Key West Seaport begins there. Duval Street is a five minute walk from Caroline or Eaton Street. Nothing is far away. CLICK HERE to view the Key West MLS datasheet and lots of photos of 4 Gecko Lane, Key West offered for sale at $1,749,000. Make sure to read the listing details as this house has been significantly updated. Then please call me, Gary Thomas, 305-766-2642, to schedule a private showing. I am a buyers agent and a full time Realtor at Preferred Properties Key West.

823 Terry Lane, Key West - New to the Market

 

Just Listed, but not by me, 823 Terry Lane, Key West. The concrete front porch base and brick columns tell us that the house was updated about fifty years ago as those building elements were common then. I dug into my old shoebox and found a photo of this house that was taken in 1965.

The 1965 photo shows a wooden porch base with decorative wood rails and columns. The tree in the front was there then and is even large now. I searched the Historic Sanborn Fire Maps to see if I could determine an approximate time this building was built. I did see what looks like a smaller dwelling on the lot in the 1892 map. The 1899 map shows a longer structure that I believe is the current house. I mention this because our property records often provide erroneous construction dates. This house is shown as being built in 1933 or during the Depression. We know that it was not. 

The property records show the house as being 1,178 square feet in size plus a 152 square foot front porch. It has three bedrooms and two baths. The lot measures 22' X 96'. The house is 19' wide. There is space in the rear where a new property owner might be able to add a water feature. The adjoining property to the south and part of the rear is owned by the Key West Housing Authority. Don't let that scare you. The immediate space is parking. The residences are located on Whitehead Street. The houses and grounds are immaculately maintained. I found a photo I took of the pool area on the other side of the fence of 823 Terry Lane. That house (condo) just sold for $831,831 in 2021.

I wrote several blogs about the houses across the street that are a part of a small condominium association. This is a colorful street located two blocks from Duval and within easy walking distance to Fort Zachary Taylor State Park and Beach.

CLICK HERE to view the Key West MLS datasheet for more detailed information on 823 Terry Lane Key West offered for sale at $799,000. Then please call me, Gary Thomas, 305-766-2642, to set up a showing. I am a full time Realtor at Preferred Properties Key West.