Bank Owned - Key West - Price Reduction - 1417 12th Street

The asking price on 1417 12th Street, Key West just got reduced from $365,100 to $329,900. This two bedroom 3 1/2 bath 1500 sq ft town home is actually a very affordable alternative to renting. If you're a local looking for a new place to live, take a look at this property which was built in 1982.  The listing Realtor describes this home this way:

"2 Story 3 bedroom 2.5 bath fenced town home with a deck and pool. First floor is made up of a kitchen, living/dining room a bedroom and bath, second floor is master bedroom/bath and bedroom with a half bath. Great location, walking distance to shopping. This property awaits your finishing touches." 

The Bank Owned home located at 1417 12th Street in the midtown area of Key West is 35 years old this year. The exterior and interior of this house resemble a lot of homes built during this time era when minimalism was the norm. The exterior structure is the opposite of Key West cottage that many people hope to find when they think about buying a place here.  The thing is the Key West dream house usually comes with a pretty heft price tag.  The building is a town home configuration of several attached units, each with a different facade, elevation, and roof line to break the monotony of sameness. Bahama shutters were added to the front and rear. Each home has a small front yard and an off street parking space. Here, the yard is a combination of pea rock,  ornamental grass, and a couple of palm trees. Many owners have replaced the original windows with impact units. This home would benefit with retro-fitting the windows and doors with modern impact replacements. This would not only add light into the home but also provide for significant wind insurance savings for years to come.

 The windows and doors and the ceilings and floors have pretty much run their life expectancy and usefulness. A prior owner tried to renovate the home a few years back. I think he (or she) failed. The house comes across as being a bit dark, a bit dated, and in need of face lift. I am going to share some photos I took of the house to give you an idea of how the house looks today. I see real potential in this property. Remember it is just a big box. All houses are boxes. Please also understand this house does need to be renovated or even painted. I simply think that it would look so much better and would function better if some of my suggestions were implemented.  There is one section of flooring that needs to be replaced. Otherwise, a new owner could move in and set up house. My suggestions relate how I think this home could be improved and made much more valuable. There is a real difference in making improvements and making repairs.

The front door opens into a hallway that leads to the two story living room at the rear. The first of three bedrooms in this house is located up front. There is an adjacent bath next door which also serves as a guest bath. The railroad style kitchen is next where there is an opening out to the living area. The blue "drama wall" accentuates the small opening from the kitchen. The small opening and darkly painted wall makes the kitchen seem like a cave. In my opinion the kitchen cries out  to be remodeled. I think the space would function much better if the upper walls at the front of the kitchen were removed. I would relocate the refrigerator to the rear and remove the wall opposite the stair. 

I found a photo of another unit in the same complex where both the kitchen and the second floor bedroom were opened up to create more vibrant living and sleeping spaces. See the photo below. It is the same space but looks totally different. Both spaces seem so much more interesting. 

Each of the bedrooms and bathrooms have differing floor surfaces. I think it makes more sense to have one floor system run throughout the house. It would give unity of design to the entire house. If I owned this house I redo the master bath. The door is a bit narrow and the bidet is a European affectation. At a minimum I would ditch the bidet and add a vanity with dual sinks. 

The primary reason I wanted to write about this house is the pool at the rear. It's a Charlie Brown Pool - it's a bit on the small side, but it has potential!  The prior owner installed a surrounding deck with a man-made material similar to Trex decking. The deck is non-slip and resistant to insects and water damage.

While I was taking photos of this home I noticed the clean and contemporary lines of a neighboring house two doors away. The exterior was painted a cool Caribbean color that contrasted with the brown of this home. The original windows in the neighboring property were replaced with impact glass. In fact most of the neighboring  homes now have impact glass. I could not help to imagine how much cleaner this home would look if the old brown French doors and shutters were removed. This home could look equally as nice. CLICK HERE to view all the photos I took of this home.

1417 12th Street  is a bank owned property with 1500 sq ft of living space that includes three bedrooms, three baths, off street parking, and a pool. The asking price is $329,900. You can't buy a studio apartment in Old Town for that.  CLICK HERE to view the Key West mls datasheet. Then please call me, Gary Thomas, 305-766-2642 to schedule a showing. Bring your imagination and a calculator. Figure out how you might tweak this place. There's a bargain to be had here.

710 Windsor Lane, Key West - Just Listed!

There's a new listing in Key West that may appeal to you if you are looking for a large home in a great Old Town location that has some income to help defray part of the cost of ownership but that does not require you to share your personal living space with strangers on rotating basis. That home may be 710 Windsor Lane which was built new in 2013. The listing Realtor describes this home as"

"Highly sought after Solaris Hill location. New energy efficient (SIPS) Structural Insulated Panel construction. Quality 3 bedroom 3.5 baths main house with adjoining 1 bedroom 1 bath apartment. Den upstairs, private office and 1/2 bath with pool access and outdoor shower. Impact windows, hardy board siding and off street parking. Private pool. Low maintenance home and energy efficient. True quality home in the heart of Old Town. X Zone location."

708 Windsor Ln in 1965

710 Windsor Ln in 1965

The above photo shows Solaris Hill, the highest point on the Island that is Key West, and more specifically the location of where 708 and 710 Windsor Lane used to be located. I found photos of both houses taken in 1965. I cannot recall but believe 708 Windsor was destroyed by fire. 710 Windsor was razed a few short years ago to make way for the construction of the new house which I followed in my Projects of Key West blog series.

 The new house has off street parking to right side of the house. When you walk toward the front door you see an inviting swing on the front porch and you may see Bahama shutters to the side. The shutters are decorative as this home has impact windows and doors through out when coupled with the new construction including Hardiboard siding, new metal roof, and X Zone location for flood insurance means that your insurance costs will be very affordable as compared to many historic old homes across the island.

When I first entered this home I didn't know quite what to expect. I knew the place was new and that it did not copy any of our older homes but also knew that it had incorporated some design elements such as front porches on both the first and second floors and the use of Bahama shutters and Hardiboard siding which gives the appearance of traditional lap siding. When I entered the house I immediately realized the interior was more contemporary than I had anticipated, but I also recognized classic features like high baseboards, decorative door and window trim, and crown molding. A large monolith bisects the living room area located at front from the kitchen and dining space located midway in the house. A set of Nano doors open out to the covered lanai that overlooks the pool area. One of the enduring joys of living in Key West is our wonderful weather which from October thru May allows us to leave our doors open to permit the easy movement between inside and outside.

The kitchen is spectacular. The cabinets are unlike no others I have seen. The quartz counter tops, stainless steel appliances, and unique light fixtures plus the monolith wall and back wall create a really attractive environment to prepare meals and to dine with family and friends. The adjacent covered outdoor living area provides an alternate place to dine as well. (The laundry room and a door to the west side service yard is located behind the kitchen.)

The master suite is tactile master piece. The floors, walls, ceiling, draperies, rugs, tiles, wood sink basin and sink, toilet, glass, mirror, light fixtures all contrast but compliment each other to provide a subtle nesting environment. Another set of Nano doors open out to the pool to provide quick escape for a late night plunge or an early morning way-up dip.

The second floor has a shared open living space with adjacent bedrooms and bathrooms. The front bedroom opens out to the second floor covered front porch that looks down upon Windsor Lane. Windsor Lane is a long one-block stretch that begins about 100 feet or so to the north at the intersection of Elizabeth and Angela Street. Angela terminates at that point and becomes Windsor. Windsor jars to the right a couple of hundred feet to the south and east where it meets the Key West cemetery. Windsor is one-way street with intermittent daytime traffic but few cars in the evening.

At the outset of today's blog I mentioned the potential for income at this home without letting strangers sleep in your bed when you are not at home. That possibility arises from the attached legal two story one bedroom apartment shown above. The unit has a private entrance on the east side of the house. The inside resembles a sophisticated New York City loft more than a typical Key West rental unit. There's a minimalist kitchen tucked behind the living room. Upstairs there is a comfy bedroom and bath. The rental income on this space would pay your taxes, insurance, and provide a reserve for that occasion a few years down the line you need to do some maintenance.

CLICK HERE to view the Key West mls datasheet on 710 Windsor Lane which is offered for sale at $2,500,000. Please take the time to click the link to see more photos of this innovative property and 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.  Let me help you find your place in Paradise.