708 Bakers Ln Key West, FL 33040
Old Town NeighborhoodEstimated payment $8,497/month
About This Home
Positioned on a rare 5000 Sq Ft. lot at one of the highest natural elevations on the Island, this property represents an exceptional opportunity in the heart of Old Town Key West - where location is everything.Set beneath a canopy of established trees, the site offers shade, privacy and a sense of timeless Old Town Character that is increasingly hard to find.Currently improved with a livable one-bedroom, one bath residence, the true value lies in the land itself. The existing structure provides flexibility - whether as a holding asset, future redevelopment or new build - allowing the next owner to capitalize on one of the most desirable settings in Key West.A full 10 out of 10 walkability Score, steps from world class dining, renowned live music cafes, galleries and the vibrant cultural fabric that defines the Island Lifestyle. A leisurely four minute walk to Duval St. underscores the property's unmatched proximity while maintaining a quieter, more refined residential feel.Opportunities of this caliber, high elevation, generous size lot, premier walkability and a blue chip location - are exceedingly rare. 708 Bakers Lane is a property for the discerning buyer who recognises that in Key West, land in the right spot is the ultimate luxury investment.
Map
Home Details
Home Type
Single Family
Year Built
1972
Lot Details
4,792 Sq Ft Lot
Listing Details
- Property Type: Residential
- Style: Single Family
- First Right of Refusal: No
- Mandatory HOA: No
- Contingent: Contingent/Show
- Fee Includes: None
- Key Island: Key West
- K W Neighborhood: Old Town-N of Truman
- Limited Representation: Yes
- Marathon Neighborhood: N/A
- Mile Marker: 1.00
- Min Rental Days: 28.00
- M L S Identifier: 20060123165453488875000000
- Pets: Pets Allowed
- Property Group I D: 19990816212109142258000000
- Side: Median
- State Province: FL
- Taxes: 9829.97
- Vehicle Storage: Off Street Parking
- Vehicle Storage Cars: 2
- Year Built: 1972
- Alternate Key Number: 1012246
- Building Style: Ground Level
- Lot Sq Ft: 4975.00
- License Info Number Of City License: 1
- Tax Exemptions: None
- Building Style Above Flood: Yes
- Building Style Stories: 1 Story
- Estimated Living Sq Ft: 684.00
- Property Condition: Fixer Upper
- Sewer Hook Up: Yes
- Statistical Purposes Only: No
- Special Features: UnderContract
- Property Sub Type: Detached
Interior Features
- Total Bathrooms: 1.00
- Full Bathrooms: 1
- Appliances: Refrigerator, Microwave, Oven, Range
- Windows/Doors: Jalousie Windows
- Total Bedrooms: 1
Exterior Features
- Dockage: None
- Waterfront: None
- Waterfront: No
- Construction: CBS
- Waterview: No Waterview
- Pool: No
Utilities
- Utilities: FKAA
Lot Info
- Deed Restrictions: Unknown
- Flood Zone: X
- Parcel Number: 00011910-000000
- Land Size: Less Than 1/4 Acre
- Acres: 0.11
Rental Info
- Rentals Allowed: With Restrictions
- Furnished: Negotiable
Tax Info
- Tax Year: 2025
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $9,546 | $1,126,514 | $1,011,442 | $115,072 |
| 2024 | $13,277 | $1,101,100 | $991,468 | $109,632 |
| 2023 | $13,277 | $1,531,947 | $1,430,002 | $101,945 |
| 2022 | $8,494 | $975,038 | $871,620 | $103,418 |
| 2021 | $6,444 | $687,026 | $599,239 | $87,787 |
| 2020 | $6,349 | $678,632 | $588,344 | $90,288 |
| 2019 | $6,411 | $679,882 | $588,344 | $91,538 |
| 2018 | $6,410 | $665,870 | $585,620 | $80,250 |
| 2017 | $6,486 | $667,119 | $0 | $0 |
| 2016 | $6,234 | $599,688 | $0 | $0 |
| 2015 | $6,781 | $668,826 | $0 | $0 |
| 2014 | $6,282 | $564,148 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 01/08/2026 01/08/26 | For Sale | $1,495,000 | +25.1% | $2,186 / Sq Ft | |
| 08/01/2022 08/01/22 | Sold | $1,195,000 | 0.0% | $1,747 / Sq Ft | View Prior Sale |
| 08/01/2022 08/01/22 | Pending | -- | -- | -- | |
| 08/01/2022 08/01/22 | For Sale | $1,195,000 | -- | $1,747 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $195,000 | First International Title | |
| Deed | -- | Highsmith & Van Loon Pa | |
| Interfamily Deed Transfer | -- | Accommodation | |
| Interfamily Deed Transfer | -- | None Available | |
| Quit Claim Deed | -- | -- | |
| Warranty Deed | $75,000 | -- |
Source: Key West Association of REALTORS®
MLS Number: 618002
APN: 00011910-000000
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