1421 Reynolds Street - The Casa Marina Area - Key West

Just listed, but not by me, 1421 Reynolds Street in the Casa Marina Area of Key West.  Locals and frequent visitors to Key will likely recognize that this Mid Century home is located within a five minute walk to Higg's Beach and the Great Atlantic Ocean.  And it has easy access to the rest of Key West as well. The great thing about this three bedroom, two bath home is that it is move-in ready and it is priced at only $649,000. That beats the higher prices you'd expect for similar sized house in Old Town.  The listing Realtor describes the property this way:

"Lovely Mid-Century Modern three bedroom home in highly desirable Casa Marina neighborhood. Beautifully maintained terrazzo floors, sleek lines and simplicity are hallmarks of the Mid-Century style. Renovated kitchen, open floor plan living room and central air conditioning are recently added conveniences. Great outdoor spaces and room for a pool on this large tropical lot. Entry courtyard provides privacy and relaxation. The 310 square foot screened covered porch not included in the under air square footage but could be easily enclosed. Off-street parking with carport provides convenient parking for at least 2 vehicles. An Adorable Casa Marina Treasure."

Even the newer areas of Key West are not always "new".  The house at 1421 Reynolds Street was built in 1958.  I didn't have to dig all that deep into the old shoebox to find a photo of the house as it appeared fifty some years ago. Today the house sits behind a six foot fence that protects the view from the street. This is typical of many homes in the Casa Marina Area. I do think it looks better today, however.  In fact all of Key West looks better today. There are trees and lush vegetation all over the island. Lots of tourist dollars has made it possible for our little city to provide great amenities for locals and tourists alike.  And things get better each year.  And little houses like this one on Reynolds Street, and the people that own, are the beneficiaries of all the tourist revenue.

The nearly 1100 sq ft house is a ranch with three bedrooms and two baths. The interiors have been updated to compliment the original design which included Terrazzo floors that shine. A new contemporary kitchen was added along with new sliding doors that open out to two different covered outdoor living areas. The property has off street parking at front and, I believe, room for a pool at the rear.

The former carport is now one covered outdoor living area and a covered and screen enclosed porch serves the backyard area. I think there is room for a pool here.  Of course, you could save the cost of building a pool by walking the four blocks to Higg's Beach and the ocean just four blocks to the south.

CLICK HERE to view the Key West mls datashteet on this property. Or better yet, please call me, Gary Thomas, 305-766-2642 to schedule a private showing of this house. I am a buyers agent and a full time Realtor at Preferred Properties Key West. I live in the Casa Marina Area and love it for its convenience and quiet. I work almost all the time so I don't get to use the beach like I used to, but the proximity is truly a plus when guest are in town. If you have a dog, doggie park is located across the street from Higg's Beach. Your pooch can meet new friends and you can meet new friends as well.

506 Elizabeth Street - Old Town - Key West - A Place Worthy of Consideration

I first wrote about 506 Elizabeth Street when it was first listed, but not by me, a couple of months ago.  I really thought some smart buyer would jump on this property which has a superior Old Town Key West location, the historic look, enough space (1292 sq ft) to create a wonderful Key West getaway or keep it as a combination house and legal rental.

The house was built in the 1890s and is currently configured as a legal duplex. However, by opening a door in the front hallway the two residences can easily become one again. I found an old black and white photo of the house as it sat when photographed in 1965. I took a similar photograph that shows how the house looks today. The architectural detail has been preserved if not improved by fresh paint and shutters.

The house sits about 100 feet south of Fleming Street on a 50' x 28' lot  and across the Monroe County Public Library. The lot provides outdoor space for the ground floor tenant or owner. There is a good sized rear deck located off the bedroom. There is space there for a hot tub or spa. Both the main level and second floor apartments have wonderful covered front porches for people watching.   The large blue house next door to the south is nearly finished after three years of construction. A narrow driveway next to 506 Elizabeth Street leads to a parking lot for the owners of condominiums located on Fleming Street.

The listing Realtor describes 506 Elizabeth Street this way:

"2 Story Home Located In The Historic District Of Old Town; 2 Blocks From Duval and; All The Shops & Restaurants The City Has To Offer! Each Floor Has A Full Bath W/Laundry Facilities, A Kitchen, Bedroom and; Living Room. At This Moment A Legal Duplex Witch Could Be Restored Into A Single Family Residence. Covered Porches Add To The Wonderful Outdoor Living Space." 

Both units have Dade County Pine walls, ceilings and floors. The main level wood walls have been covered in most areas but the Dade Pine is still existent underneath and could be exposed again if a new owner prefers the historic look.  Dade County Pine walls are the distinctive architectural feature on the second floor where years of paint have been removed to show off the rich deep grain and color of the native wood.

 

Second Floor Apartment

The main level kitchen now has 21st Century granite and designer flair. The second floor kitchen is more 'old school' and utilitarian. The second floor kitchen is marked by a shiny tin ceiling.

The main level bedroom has ample closets for storage. A door at the rear opens out to the rear deck area that is fenced and which provides quality outdoor living area.  There is room for a hot tub in this space. (No permit is required as a hot tub is portable and can be removed.)  The main floor apartment might rent for $1800 per month.

The bedroom on the second level is quite spacious. The hallway is extra large and provides workspace for a home office.  The second floor apartment might rent between $1500 to $1700 per month. (Rentals are estimates as the owner was renting both units at below market rates to friends when I initially photographed the property. Both units are now vacant and easy to show.  I kept some of the early photos to demonstrate the spaces.)

506 Elizabeth Street just might be the answer to the dreams of many would-be second home buyers in Key West. As a legal duplex a new owner could retain one apartment for personal use and rent the second one either as full time or possibly as vacation rental. (I think the first floor unit with a hot tub on the private rear deck could work well as a vacation rental.)  But either unit could be rented for enough money to probably pay the annual taxes, insurance, and maintenance costs on the building. At some time in the future the owner could open the hallway door and return the property to single family status. CLICK HERE to view more photos.

You could not ask for a better location.  All of the wonders of Duval Street and the more relaxing elements of the Historic Key West Seaport are within a five minute walk from 506 Elizabeth Street. People from around the world go to Nearby Sarabeth's for breakfast, lunch, and dinner.  You could be there in just a couple of minutes. The Tropic Cinema is one of the best small movie theaters in the US. You could be there in five minutes by foot. If you are gay and want a place to swim with the boys, you could go to the Island House on White Street. But if you are straight, you could instead go over to Dante's. That's the reason this location is so great-you can go anywhere by foot in a matter of minutes. And when you get to your destination, you might just have a very memorable experience.

506 Elizabeth Street is offered at $699,000.  CLICK HERE to view the Key West mls datasheet and to view listing photographs. But better than that please call me, Gary Thomas, 305-766-2642 to set up 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 Paradise.

527 Margaret Street - Short Sale - Key West

I am surprised that the recently listed single family  home at 527 Margaret Street in Old Town Key West is not yet under contract. It was listed thirty days ago. I really thought it would be gone by now. This home has three bedrooms and has a superior Old Town location. It is offered as a Short Sale at $549,000.

The listing Realtor describes the listing this way:
"Excellent buy in a great Old Town location. This home is located in the heart of Old Town and walking distance to several restaurants and attractions.Great renovation project with good square footage and location. This transaction is a short sale."

Frequent readers of my blog know that the Great Fire destroyed the county property records for Key West. WPA workers reconstructed records and gave houses various dates of construction when the actual construction date was not know. The house at 527 Margaret Street still shows in our county property records as being constructed in 1938 - during the Great Depression - in a town that itself was in such a dire straits that the federal government had to bail it out. So it is highly unlikely that 527 Margaret Street was actually built in 1938. Moreover, I located what I think to be 527 Margaret Street on the 1889 Sanborn fire map. (Street numbers were different then, but this house appears on the 1889 map.)

The style of the house looks quite similar to many houses of the late 1800s as well. I dug deep into the old shoe box and found a photo of the property taken back in 1965.  I took photo from a similar angle that shows the property as it exists today.  Note the similarities and differences in the 48 year time span.

My guess is that a former owner many years ago added the shed addition to the right of the main house. Other additions were added to the rear. And there is even a second floor "bedroom" or loft which is accessed by a ladder. That room brings back memories of when I first started selling houses here many years ago as it looks like a lot of  hippie rooms that were created before HARC existed and before building codes were enforced as strictly as they are today.

 

 527 Margaret Street is a 1532 sq ft home that sits on a 2227 sq ft lot (44' x 55')  on one of the better blocks in Old Town.  The living room has a very tall ceiling which gives the room a much more voluminous feel than the photo would suggest. The living space flows comfortably to the rear where the kitchen The kitchen and dining room are divided and sit at the back of the house. 

The current configuration has requires you to walk through one bedroom to go into the master bedroom. This is not efficient and gives nobody privacy.  The master bedroom is very elongated - too much so in my opinion.  There is room for improvement here. But the good thing is that there is room for improvement. A new owner won't have to build new but instead re-create space that is more efficient. 

A family room plus loft bedroom and an additional bath sit at the back of the house on the north side. The space needs a good bit of work to make it work more efficiently as well. If I bought this house I would try to get permission to take down this rear addition (including the second floor loft) and replace it with a swimming pool.  There would be more than enough room.

In 2008 I wrote about 529 Margaret Street - a two story home that sits directly behind 527 Margaret Street. Both houses share a huge banyan tree that straddles the rear property line of 527 Margaret Street.  The owner at 529 Margaret created an outdoor shower on his side of the old tree.  That house has a pool and a spa. 527 Margaret Street does have a nice rear deck area and small garden.  And, oh yes, that huge banyan tree.  CLICK HERE to view more photos I took of this property.

Frequent visitors to Key West likely will be familiar with the location. Michael's Restaurant is located across the street. Mangia Mangia is up on the corner at Southard Street while the neighborhood organic food market is located down on the corner at Fleming Street.  Other nearby establishments include Azul, the Old Town Bakery, 5 Brothers Grocery and Sandwich Shop, and the Historic Key West Seaport.  Duval Street is just four blocks to the west.

The listing Realtor describes this listing as a "Great renovation project with good square footage and location".  I agree. This property has really good location, upside potential, and is priced where a new owner could invest the dollars necessary to do the improvements and still come out okay.   CLICK HERE to view the Key West mls datasheet and then please call me, Gary Thomas, 305-766-2642, to schedule a personal viewing of this Old Town short sale property.  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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