723 Olivia Street - Old Town - Key West

The more than century old house at 723 Olivia Street in Key West is vacant and ready to be renovated. The 1912 sq ft house sits on a large corner lot at the intersection Olivia Street at Petronia Lane. Petronia Lane is identified at Passover Lane where it originates on Windsor Lane one block to the north and east. Passover Lane becomes Petronia Lane at Bill Bullock Park where it turns at a right angle and dead ends 250 feet later when it meets Olivia Street. The lot measures 46.25' X 78'. The west half of the lot sits vacant. A small portion of the rear lot is also vacant. Together, the vacant spaces give this old house immense potential for future development.

 The listing Realtor describes the property this way:

"In a place with such little space sits a large, classic conch house with a large side yard full of tropical fruit trees, parking, a storage shed and plenty of room for a pool. This classic home features a very desirable 2 story architecture with a second floor front porch. The corner lot allows access to the rear as well as the front. Parking (a rarity on the island)is plentiful on the 3608 sq. ft. lot!"

If you have been searching to find a potential new home or maybe a "flipper", you already know there are few houses for sale in Old Town at any price and even fewer with enough land and size to create a decent sized house with a pool and parking. The house at 723 Olivia Street has (1) a good location, (2) a lot large enough to provide a pool and parking, and (3) room for limited expansion.

I fished around in the old shoebox and found the black and white photo of 723 Olivia that was taken about fifty years ago. Notice the concrete block base of the front porch. That base is not original to the house because they did not make concrete blocks like that in the late 1880s.  I am confident in saying that a new owner would be permitted to replace the non-original CBS porch with wood.

This house is very typical of many old houses that need renovation. It has multiple small, single purpose rooms. Key West has several very talented architects that tackle projects like this all the time. They understand how to rearrange rooms and to create spaces for the way we live today.  Key West also has several highly qualified general contractors that redo houses like this all the time. They know how to repair failing foundations, straighten tilting walls, install replacement windows, and restore decades old Dade County Pine walls.  Various subcontractors will replace all utilities including water, sewer, and electric supply. There is room to bury a propane tank so that the new owner can have the gas range many chefs prefer. The roof will get replaced and clips added to secure the roof to the house. New HVAC will be introduced to the house. There is room in the attic and under the house for duct work or piping to move cold air throughout both floors.

 The old windows will likely be replaced - perhaps adding wood impact windows. Impact windows are more expensive than regular casement windows but protect against windstorm damage up to 155 mph. Impact windows also provide superior noise reduction. Adding impact windows will provide significant windstorm insurance mitigation credits in the near term.
 which means lower insurance rates year over year. In the long term having impact windows will make re-sale easier because it will reduce the long term insurance costs for future owners making this home more attractive than a house with traditional casement windows and ugly corrugated steel shutters.

Door opens out to the second floor front porch overlooking Olivia Street

The photo third from the top shows a single story addition to the back of the house. I think a new owner might add a second level above that space which likely would become a part of a new master suite or maybe become a rooftop deck to over look the new pool to the west. Also notice the small cottage at the very back of the lot. This cottage might become a poolside cabana or bar. The vacant space behind the house is large enough to provide a parking spot. A new owner would need to decide whether to create parking in front or on the side. The good thing is there is room for parking at either location. CLICK HERE to view more photos I took. Sorry, they are not the best quality.  But they give you a rough idea of the current condition of the house. The future is in the hands of whoever buys it and tackles the renovation.

CLICK HERE to view the Key West mls datasheet and listing photos. After you have done your computer or ipad home study, please call me, Gary Thomas, 305-766-2642 to schedule a showing of this property. I am a buyers agent and a full time Realtor at Preferred Properties Key West. If you buy this home this year, you could be living in your newly renovated home next Christmas.

807 Catherine Street - Key West

The listing Realtor describes 807 Catherine Street this way:

"This ideal centrally located Conch style home has been recently updated including a beautiful new bath and kitchen that includes stainless steel appliances, quartz countertops and glass back splash. The charming home has very tall ceilings, Dade County Pine Walls, wood floors and a very nice floor plan. The living/dining area and kitchen are located at the rear of the home adjacent to a covered porch overlooking the private nicely landscaped rear yard with outdoor half bath and koi pond. Additionally there is a sleeping loft or storage area and lots of exterior storage."

This 856 sq ft home is set up like many other Conch style homes that have been updated. The entry hall goes in a straight line from the front door to the kitchen at the rear. The two bedrooms are located at the front of the house.

 This home has a good deal of exposed Dade County Pine incorporated into the interior walls. The entry hall almost looks like the walls are pickled (they aren't), but they offer a bit of a contrast to the somewhat darker walls in both bedrooms. The floors have a light finish to avoid monotony. The hallway folds into the great room with vaulted ceiling that includes a second level roost for meditating, writing, or maybe singing while your partner is preparing dinner. The indoor bathroom is located under the roost.

What happens next is pure Key West cool and can only happen here because of our year around moderate climate. The kitchen opens out to the outdoor dining area and rear deck. That space includes space for outdoor meal preparation, a separate outdoor bathroom, a small garden and a koi pond. The space is just precious. You can tell someone who loves life lives in this home. This is definitely a happy home.  CLICK HERE to view more photos I took of this very cute home.

807 Catherine Street is offered at $649,500.  CLICK HERE to view the Key West mls datasheet. Then please call me, Gary Thomas, 305-766-2642 to schedule a showing. I am a buyers agent and a full time Realtor at Preferred Properties Key West.

1513 Pine Street - Key West - Value for Your Money

1513 Pine Street - Key West - Offered at $1,195,000

If you are an active home buyer that is looking for quality and value up front plus affordable insurance costs and low maintenance fees year over year, the recently built home at 1513 Pine Street located in the Meadows Area of Key West is certainly a home to consider. I'll depart from the way I write most blogs and instead do a list of features that make this home standout.

(1) Date of Construction and Location. This home was built new in 2008. It is one of eight homes built just off Eisenhower Drive in The Meadows Area of Key West. The Garrison Bight Marina is located across the street. Key West's main city park, Bayview Park, is located two blocks to the north where today the city Christmas Tree will be lit. The hubbub of Old Town Key West is a long walk (ten minutes or so) or short bike ride (maybe six minutes) away. Key West's three shopping centers are a five minute car drive to the east.

(2) Size and Construction. This home is 1717 sq ft and sits on a fee simple lot 2628 sq ft lot (37.27' X 70.52'). This home is a corner lot which is sited adjacent to a community owned and maintained tropical landscaped nature basin.  The lot seems larger because the nearest neighbor to the east is located over a couple of hundred feet away. The architecture of the house evokes memories of a Grand Victorian with a turret and main level and second floor porches. The house was wood frame built on site. The siding is Hardieboard, a man made cement and fiber siding that looks like traditional wood lap siding, but which is rot and insect resistant. It is made to resist elements like our driving rain and hot sun. It will be years before the house needs to be repainted. Compare Hardieboard to traditional wood which takes a beating in the Florida Keys. And it is 90% fire resistant.  All windows are wind impact resistant. This home does have shutters, but they are decorative. The roof is metal. Gutters take water to rain water away from the property.  This home was built in accordance with Florida's stringent building codes after Hurricane Andrew. This means this home will qualify for the best discounts on wind and home insurance policies.

 (3) Interiors. Interior features include a gourmet kitchen with a home office tucked away in the turret. The ceilings rise 11 ft  high where they are wrapped with crown molding. The living room includes a built in media (includes cat 5 wiring with wifi technology) center plus a wet bar and wine cooler. There is a guest bath on the main level. A prominent stairway leads to the second floor where the guest bedroom is located in the rear. This room has a coved ceiling plus a en-suite bath. The master suite is both spacious and luxurious. The bedroom has a soaring cathedral ceiling which gives the room the sense of size, but it's the turret that gives the room a most comfy feeling. And who doesn't want to fee comfy in the bedroom? The bathroom rivals one you might find in a five star hotel with Jacuzzi tub, separate shower, boudoir lighting at the vanity, plus several closets which automatically light when the door is opened. A door leads from the bedroom out to the second level front porch.

(4) Pool and Parking. Two massive sliders open out from the living room onto the rear garden and pool area. A tall fence and landscaped yard add privacy to this space that includes a pool with waterfall plus a spa that overflows into the pool.  There is a landscaped side yard on either side of the house which allows the pool man easy access to maintain the pool. The west side yard is where you will find the pool equipment and two new air conditioners - this home has separate first and second floor A/C systems. There is a propane tank which fuels the gas range in the kitchen. (Lot's of houses in Old Town do not have gas but this one does.) There is even covered parking in the rear which is accessed via private gated driveway.

Buyers often use the Internet to do price comparison shopping. I entered four search cafeterias to compare 1513 Pine Street with other active listings in our mls. Those criteria included (1) location in the most desirable areas of Old Town, Casa Marina, or the Meadows; (2) properties sized between 1600 to 1800 sq ft; (3) must have a pool; (4) must have parking. Eight such houses are available as of November 29th. CLICK HERE to see those homes. The cost to insure this house are Citizen's Wind Insurance $753; Flood Insurance $766; Fire & Liability $1,867.  Compare that to the other houses. It won't be close.
 
 I am really excited about this new listing. The housing and rental market in Key West is on fire. There is so much demand for so few houses. To have such a beautiful and well-built home for sale is a true privilege.  Please contact me, Gary Thomas, 305-766-2642 to schedule a private showing of this home. I am a full time Realtor at Preferred Properties Key West.

Happy Thanksgiving to My Dear Readers!

Happy Thanksgiving to my Dear Readers 

and to the Buyers and Sellers who have

chosen me to be their Realtor!

I love being the guy that 

gives new homeowners 

keys to their new Dream Home!