714 Olivia St #4, Key West - Bank Owned with Transient License

There is a new Bank Owned listing at 714 Olivia Street, Unit #4 in Old Town Key West that is something to cheer about - the reason is it has a very valuable Transient Rental License and is affordably priced.  The listing Realtor describes this property this way:

"Cottage style condominium with a transient license in Old Town Key West. The one level cottage has vaulted ceilings, tile floors, open floor plan and french doors in the living room and bedroom that open onto porches. The condo is being sold furnished. The Colony Condominium is a small community with a large beautiful pool and off street parking."

This is one of nine units total. Some of the units share a 'common wall' with an adjacent property. This his an historic property that was updated and expanded just a bit when the property was turned into condominiums. 

The deck at the front of the house looks off to the pool and the winding bricked sidewalk which leads to  the front entry.  There is also a private rear deck accessed off the kitchen were you might have a grill or lounge chairs for more private chilling or entertaining.

Unit #4 is a one bedroom, one bath condo with 526 sq ft of interior living space. It has a valuable Transient Rental License which permits daily, weekly, or monthly rentals. A new owner is not required to rent the unit at all, but having the viability to rent daily or weekly makes this particular property very valuable in the eyes of many. The condo fees are 1400 per quarter and cover trash, sewer,trash removal, building maintenance and insurance, and common area & pool maintenance.  This property in located in an excellent part of Old Town and could be easily rented throughout most of the year if the new owner wanted to do so.  CLICK HERE to see more photos I took.

CLICK HERE to view the Key West mls datasheet and to learn more info on this unit. Use the drop down menu for more info.  Then please call me, Gary Thomas, 305-766-2642, to set up a showing on this neat and well located 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.

1309 Grinnell Street - The Casa Marina Area - Key West

JUST LISTED by Preferred Properties Key West, that's where I work but this is not my listing, 1309 Grinnell Street which is located in the Casa Marina Area. This 1724 sq ft home is hidden behind large privacy fence. When you open the gate, you are genuinely surprised to see a lagoon pool and tropical garden upon entering the property. A winding path leads through the bricked terrace and up the steps to the home.

I fished around in my old shoebox and found a photo taken of this house in 1965, see below.  I have included a new color photo that shows the house from about the same angle taken in 2015.  

The aerial photo above was taken in 1930.  I added a white arrow that indicates the location of 1309 Grinnell Street. The house was not built then, but its next door neighbor existed then. The Monroe County Property Appraiser website shows this house was built in 1958.  I think the actual construction may actually have been sometime earlier - probably right after World War II.  I believe the original house was a one story bungalow style house. There are many nearby bungalow style houses located in this immediate area. The second floor addition appears in the 1965 photo so we know it existed as of that date or earlier.

I often speculate about how a house might look like if a new owner did a few things to tweak the exterior a bit. While parts of the Casa Marina Area are now subject to review by our Historic Architectural Review Commission, this house might get a "pass" since it is not a contributing structure and since prior additions totally changed the original view.

I would suggest the creation of a new two story front porch that would overlook the pool. I would replace the T-111 siding with Novelty siding that already exists on the main floor. I would replace the aluminum windows with wood windows to give the house a more traditional home appearance. I would gut the first and second floor interiors and rearrange the room layouts and functionality. The living room, dining area, kitchen, laundry, and a bedroom and full bath are located on the main level.  I think the current configuration is both  dated and also no longer fits the way we live today. The second floor layout is equally outdated and impractical. The second floor landing is way too large. The spaces could be reconfigured to enlarge the bedrooms and perhaps add another bath. Another scenario would be to eliminate one of the existing three upper bedrooms and to reconfigure the space to have just one guest bedroom and to create a larger new master bedroom with en-suite, The new master bedroom would have French doors that open out to the second floor front porch which would overlook the pool. If you take down the existing walls, you can create any new space you want.

CLICK HERE to view more photos I took of the house and yard. According to the Monroe County Property Appraiser the yard is an irregular 4555 sq ft lot (about 43.25' X 92'5'). The house sits to the rear of the lot, and the pool is located up front. There is a good sized deck on the south side of the house. The north side lot is about six feet wide.

A new owner would not have to make any structural changes to this house. It needs existing carpet removed and replaced.  Interiors need to be cleaned and painted. My suggestions are offered only to spark the Reader's imagination as to what they might do if this house were theirs.  A 1960s vintage house located in the next block was a couple of years ago and was featured in Architectural Digest. It was a simple house before it became glamorous. It was recently offered for sale at $2,499,000. Our office sold a similar contemporary renovation in the same block in 2012 for $1,950,000. I think any money spent on this house will ultimately make the house worth much more. Most of the homes in  this area are priced over one million dollars and prices are trending much higher. The Atlantic Ocean and beaches are just a few blocks to the south. Duval Street is a five block walk to the west. Most of the gyms and yoga studios are located within a four block walk to the north or east. You can be in most places you want to go within a matter of minutes. I believe the current "condition" and location make this property worthy of serious consideration.

CLICK HERE to view the Key West mls datasheet on 1309 Grinnell Street that is offered for sale at $675,000. 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.

920 Pohalski Street, Key West - Bank Owned - Price Reduction

920 Pohalski Street, Key West

Bank Owned Property in Old Town

 Price Reduction to just $449,900

920 Pohalski Street was designed and built by a local architect that built this property for his personal home. Today it is Bank Owned and now offered for sale at just $449,900. Today the house has 920 sq ft of living space divided between the first and second floors. The house sits on a good sized lot of 1925 sq ft (55' X 35'). There is off street parking in front, a large decked rear yard, and a side side yard on the north side of the property.

The listing Realtor describes the property as:

"Redesigned 2/2 historic home with a unique floor plan. Upper level master suite, french doors from living room and kitchen open to a private deck with an in ground spa. Fully fenced for privacy." 

I looked in my old shoebox and found a photo of 920 Pohalski Street that was taken about fifty years ago. The house was enlarged with a two story rear addition that now contains the living room with vaulted ceiling, kitchen, laundry room, and second floor master suite with vaulted ceiling and en-suite bath. There is a Juliet balcony where a set of pocket doors open to reveal the spa in the decked rear garden area below.

The photos above show the generous usage of wood throughout this home. This is "new" wood as opposed to historic Dade County Pine.  I have shown this house several times over the years. I appreciate the almost "cabin-like" or masculine feel of this home. The living room and guest bedroom and bath share the first floor. A full bath is located off the living room but it is not en-suite to the bedroom. French doors at the rear open out to a partially covered rear deck that leads to the separate kitchen which is separate from the living area.  Pocket doors open to reveal the kitchen tucked into a comfy rear corner of the house.

The second floor master suite is magical. The vaulted ceiling gives this space such an expansive feel. Upper level windows punctuate the lower window and pocket doors to give the interior more light and to provide a dramatic element to the otherwise understated wood room. The Juliet balcony is seen in the photo below.

920 Pohalksi Street is located less than half a block north of Truman Avenue and across the way from the Truman and White Chevron Station. The Coffee Mill dance studio and Zumba fitness is located next door to the north. The best fried chicken in town is sold 24 hours a day at the Citgo gas station opposite the Chevron station. Most of the gyms and yoga studios in Key West are located within two blocks of this location. The location will appeal to a hip buyer that appreciates being able to be close to most of Old Town and who wants to buy a place in really good condition at an affordable price. The home inspector that inspected the property for the previous buyer told that buyer that the house was "dry" meaning no moisture or mold and in superior condition.  I took more photos which you can see if you CLICK HERE .

CLICK HERE to view the Key West mls datasheet on this property. If you would like to see 920 Pohalski Street, please contact me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.