3704 Eagle Ave, Key West, FL 33040

Property Description

This expansive 6,000 sq. ft. gated property is on a prestigious stretch of Eagle Avenue in the highly sought-after New Town neighborhood. The second floor features a spacious one-bedroom, one-bath layout, complemented by a bright and airy living area, full kitchen, and a versatile bonus room. The interior flows seamlessly onto an impressive rear deck spanning the width of the home, overlooking lush tropical landscaping, an expansive patio, and one of the deepest private pools in the neighborhood--creating a true outdoor oasis. The first floor offers nearly equal square footage and was originally designed as a two-bedroom, one-bath living space. It has since been opened up into a flexible guest suite/pool house complete with laundry and ample storage. The downstairs also includes a toilet and is plumbed and ready for the addition of a shower. This level presents an exceptional opportunity for customization, allowing a new owner to reimagine the space to suit a variety of needs--whether as additional living quarters, an in-law suite, or a private luxury retreat. Notable improvements include a metal roof installed in 2006 and a new central air conditioning system with all-new ductwork (2019). In 2018, electrical and plumbing upgrades were completed, spray foam insulation was added to the attic, and the kitchen was fully remodeled. In 2021, the pool was converted to saltwater with new equipment, and in 2022, Marino Construction completed repairs to spalling and installed impact windows on the first floor. Flood insurance is approximately $3,200 annually. Citizens has provided an estimated annual wind coverage quote of $13,000; however, the installation of hurricane-rated shutters may reduce this cost by 15-30%, depending on credits obtained for shutters and roof tie-downs. A four-point inspection is recommended to help maximize available insurance credits. This exceptional property offers tremendous potential and is well worth a closer look.