527 Margaret Street, Key West - Just Listed in Old Town

Just Listed, 527 Margaret Street, Key West. The listing agent describes this beautiful Old Town property this way: 

"Stunning and Stylish Renovation in this Historic Home, Ideally Located on 500 block of Margaret St, walking distance to so many attractions, Restaurants and Galleries. Remodeled in 2015, the home underwent a complete Foundation to Roof Renovation and received the Historic Florida Keys Preservation Award in 2016. Features include Soaring Exposed Beam Ceilings, White Oak Wood Floors, Top End Appliances, A wall of glass leading to pool and Deck. Beautifully finished bedrooms and baths, with 2 bedrooms and additional loft. Being Sold Turn Key!"

I have written a couple of earlier blogs about this property when it was a hodgepodge of additions and used as multi-family home. I wrote about it while under renovation in my Projects of Key West continuum.  Later I wrote about the house when it was completed. Now it is for sale. The original house was taken to the ground and totally rebuilt save enough boards to fit within a thin definition of a renovation. The end result is a beautiful home located in a great Old Town location near all the places primary and second home owners seek. It is located just four blocks from world famous Duval Street and only four blocks to the Historic Seaport. One of Key West's finest steak houses in located across the street and dozens of small joints and fine dining restaurants are within easy walking distance. While what you see from the street is picture perfect, it's the interior that will really grab your attention. As you look more closely, you'll appreciate the quality new construction and the cost saving benefits of owning a home like this.

When you look at the house from the street you would probably expect the interiors to be compact and tight because the house simply looks like a quaint one story home with a cute little front porch. But you would be wrong. Very wrong. Oh, it is just a one story house, but once you open the door and pass through the formal entry hall you'll see a wall of glass which soars to the vaulted ceiling immediately refuting any pre-conceptions about this home being small.

The first thing I saw was the canopy of the old banyan tree at the rear. The blue sky seemed to blend with the subtle and not-so-subtle blue tones interspersed throughout the house.  The wood ceiling and white washed wood floors add a natural color perspective to this living space. There is a guest bath located off the center hall adjacent to the adult beverage center with color co-ordinated booze. The laundry area is opposite. Dale Trice designed the interiors and created the media and display wall with storage below. Giant shells and white objets d'art fill that space and throughout the house. The setting is like something out of Coastal Living Magazine or Architectural Digest. Maybe it should be!

The master and guest bedroom (with loft) are located at the front of the house. Both have en-suite baths.The master suite is stunning-almost regal. The guest bedroom is quite understated by comparison. The loft space will be a favorite of the grand kids. I don't know if kids still play "fort" like I did when I was a child. This space would make a perfect fort, of that I am sure. 

CLICK HERE to view the Key West MLS datasheet and listing photos.  527 Margaret Street is offered turn key at $1,549,000. 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.

627 Caroline Street, Key West - Conch House in Need of Revival

Just Listed, but not by me, 627 Caroline Street, Key West. This home is located is located a little over one block from the Historic Seaport which was the economic hub of commerce in the 1880s and early 1900s. I searched the Historic Sanborn Fire Maps and determined 627 Caroline Street was built before the 1889 map which makes sense given the located near the seaport.  As I studied that map I learned a large portion of the 600 block was a sponge drying field. I can visualize a horse drawn cart relocating freshly harvested sponges to Caroline Street to be tried then put back on the boat to set sail for northern destinations. Today this house and two other original homes are the only buildings that have not been renovated in the modern era. That's what makes this particular old house so interesting and appealing from my point of view. Let me tell you why.

 

I wrote above this house has not been renovated. It wasn't. But it was messed around with. The original front porch was partially enclosed and had jalousie windows added. French doors were added to the adjacent parlor that is adjacent to the enclosed porch. The space is dark and dreary. The porch enclosure should be removed and existing interiors should be dramatically changed. Plans to renovate the property are included in the offering. The elevations shown below would "restore" or perhaps "create" a Grand Conch front facade with two story porches. The new house would have three bedrooms and a new detached guest cottage plus pool. The existing "garage" would disappear and be replaced by two tandem parking spaces. The bay window on the first floor would be re-purposed as a steam room for the first floor front bedroom.

The second floor was built for the way people lived one hundred fifty years ago. It had a bathroom added and that worked for the past century. Modern Key West functions much differently. We may not need as much closet space as folks living up north in America, but we need more bathrooms. The plans include a main floor guest bath located under the stairs. The first floor bedroom has shower plus steam room. The two second floor bedrooms have en-suite baths and the guest cottage has a half bath. There is even a pool bath located. New glass slider glass panel doors will open out to the pool from the first floor and second floor rear decks. The view from the second floor rear will be amazing.  The back yard is quite large and undeveloped. The plans propose a guest cottage and pool. A new owner might prefer a larger pool  The plans are proposed and not determinative as to what must be done.

This little part of town has changed dramatically since I moved to Key West in 1993. The old seaport was renovated and now is an esplanade that wraps around toward the Truman Waterfront Park. The seedy old buildings on Caroline Street have become upscale shops and restaurants. More restaurants and hotels are located where the original boat docks existed to the north and west. The photos just below show the corner next to 627 Caroline. The photos show the history and the change over the years. Such is also the story of much of Old Town. So much is the same, and so much has changed, mostly for the good.

CLICK HERE to view the Key West MLS datasheet on 627 Caroline Street, Key West. Then 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. Let me show you this house and walk the area to see how much opportunity this building, this lot, and this location have to offer to a new buyer who is seeking a project property. This is going to be a serious renovation and not one where you apply a coat of paint and put in a Home Depot kitchen. Our office sold the house next door (621 Caroline St) in 2016 for $3,200,000. It was the home of author Phil Caputo. It had 4,0000 sq ft of living space and a transient rental license which generates a lot of income. A new owner at 627 Caroline Street could rent that property as a monthly vacation rental throughout the year. Or not. Renting is not required but could be very profitable if that is something a new owner wants to pursue.

1028 Virginia Street, Key West

The new listing at 1028 Virginia Street, Key West is located about one block west of White Street. This property is located in the Old Town area known as South of Truman. CLICK HERE for a GOOGLE MAP aerial view of the area. You will understand why the lot is so large - two separate houses were combined years ago to create one larger property that today measures 48' X 85' or 4272 sq ft.  The aerial view shows and the City of Key West recognize three separate living units on the lot..

Even as early as 1965 when the above black and white photo of 1026-1028 Virginia Street was taken, the two houses were connected via bridge visible in the photo. That bridge still exists today, but the two houses are rented separately. There is also detached two story cottage located behind 1028 Virginia Street which is not visible from the street.

The "unit" on the west side was formerly a stand alone house identified as 1026 Virginia Street. This is a large one bedroom apartment with fairly large back yard with a sunny deck.

1028 Virginia Street is about the same size and similarly laid out but which has a smaller rear deck. The entrance to the rear cottage is located on the east side of the property. Access is restricted through a semi-enclosed gated entry. The gate opens to a private deck where French doors open into the two the story cottage. The main floor includes living, dining, kitchen and bath. The second level is a sleeping loft. .

This property has three licenses with the City of Key West so all three units can be rented on an annual basis. A new owner looking for a place to live with income could live in any of the three buildings. All are in move-in condition. They are dated to the extent that not everything is brand new, but nothing needs to be fixed from what I could see. They reflect the style of updating that occurred in the late 1980s and early 1990s.  We should all look that good. These units should rent immediately when they become vacant. Locals would love the location because it is within easy walking or biking distance to Duval Street. Faustos grocery and numerous gyms, yoga studios, and neighborhood restaurants are nearby.

CLICK HERE to view the Key West MLS datasheet and more photos.  1028 Virginia Street is offered at $897,500.  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.

Happy Easter Everybody!

Gary Thomas | Realtor | Preferred Properties Key West

Key West - Is that all you got?

I think a lot of people think selling real estate is easy. A Realtor simply sticks a sign in the ground, puts pictures in the MLS, and buyers show up to buy a house.  A Realtor then sends the contract to the title company and a big fat check is wired to the agent. That would be great. But that is not what happens.

I remember the time I had a particularly bad day. (Wait, as I write this I had a flash - when is that not the case? I have so many bad days.)  I got a call from my clients. They had decided to follow my advice and asked me to go to their house to sign the contract I had presented to them much earlier. Many things had happened during the intervening time period, none of which were good, and many which were predictable. I decided to meet with them in person to get the contract signed to reduce the chance of change of heart. I got in my car and headed to my clients' house.   

Key West was particularity busy that day. Tourists were everywhere - in cars, on bikes, walking in streets with go cups, jay walking into traffic taking selfies and dragging kids behind. It was bedlam.

I was sitting at a red light behind a car with tourists. The light turned green. The tourist-mobile did not move. The driver had her left turn signal on and seemed to wait and wait and wait for all the traffic from the opposite direction pass. That is the proper thing to do. Then there was no traffic. Yet she waited. Maybe she had not noticed there was no traffic. I gave a short "beep" as opposed to a blast from my horn. She edged forward but paused long enough that I would have to wait for the next light. She finally turned and stuck her left hand out the window with the middle finger pointed toward God. I accelerated and went stragith through the intersection before the yellow light turned red. I simply laughed and said to myself "Is that all you got?"

I got the contract signed and eventually got my commission. I went through a small amount of hell along the way to get that deal done. Some readers will gripe that Realtors make too much money for so little work. When I was a kid I worked hard for every dollar I made. Physical labor is so easy compared to the stuff I go through now.