1121 Margaret Street, Key West, FL 33040 (MLS# 597949)

1121 Margaret Street, Key West, FL 33040

$2,959,950

Virtual Tour

https://my.matterport.com/show/?m=2TutZuk9m7N&brand=0

Main Entrance (In-Law Suite to the left)

Single Car Garage (can park another car behind in the driveway)

Art Studio (can be converted to an additional bedroom with plumbing for a full bath and walk-in closet. Has a separate entrance off left side of the house.

Art Studio (can be converted to an additional bedroom with plumbing for a full bath and walk-in closet.

Property Type: Residential Bedrooms: 4 Baths: 5 Square Footage: 3,000 Lot Size (sq. ft.): 5,243 Status: Closed

Current Price: $2,959,950 List Date: 10/01/2021 Last Modified: 12/30/2025

Overview

Description

The newly renovated structure at 1121 Margaret St. once housed the historic Molina's Bakery and is a brilliant example of adaptive reuse. Sold with $11,950 in furnishings and $48,000 in art. The 3000 sf home includes 4 bedrooms, a mother-in-law apartment, a large office/studio, 3 full & 2 half bathrooms, laundry room and garage. The great room at the back of the home has an exquisite galley kitchen and island that serves the large living/dining spaces. There is a wall of glass leading to the outdoor living/dining/entertaining space with gorgeous tropical landscaping, a swimming pool, water feature and outdoor shower. There is a large central courtyard and meditation garden that not only provides another peaceful outdoor respite but also allows natural light to filter throughout the home. Unique and clever design features abound some of which were designed and fabricated by the owner architect. One feels the cool, mod vibe as soon as entering the home. The floors are bright finished co ... (Read more)

Listing Details MLS# 597949

Location, Tax & Legal

Street #: 1121
Street Name: Margaret
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
County: Monroe
Subdivision: Investment Co Sub (1.0)
Area: 02 - Key West
KW Neighborhood: Old Town-S of Truman
City: KEY WEST
Mile Marker: 1
Marathon Neighborhood: N/A
Side: Median
Flood Zone: 0.2 PCT ANNUAL CHANC
Alternate Key #: 1030741
Parcel #: 00029990-000000
Zoning: HHDR - Historic High Density Residential
Deed Restrictions: Unknown
Legal: KW INVESTMENT CO SUB PB 1-49 LOT 3 SQR 6 TR 12
Taxes: 10346.56
Tax Year: 2020
Pub Sewer HkUp: Yes

Contract Information

Listing Board: Key West Association

General Property Description

Realtor.COM Type: Residential - Single Family
Style: Single Family
Waterfront: No
Pool: Yes
Year Built: 1948
Lot SqFt: 5243
Acres: 0.12
Living Apx SqFt: 3000
SqFt Source: Builder/Architect
Total Bedrooms: 4
Full Baths: 3
Half Baths: 2
Total Baths: 5
Rentals Allowed: With Restrictions
Min Rental Days: 30
Control Depth: 0
Total Units: 0

Status Change Info

Sold Date: 2021-10-21
Sold Comments: included $11,950 of furnishings & $48,000 of art

Association Info

Mandatory Home Owners Asc: No
1st Right of Refusal: No
Association Fee $: 0

Building Style

Above Flood: Unknown
Stories: 1 Story
Ground Level: Yes

More Information

Vehicle Storage

Car(s): Yes
Garage: Yes

Remarks & Misc

Remarks – Consumer: The newly renovated structure at 1121 Margaret St. once housed the historic Molina's Bakery and is a brilliant example of adaptive reuse. Sold with $11,950 in furnishings and $48,000 in art. The 3000 sf home includes 4 bedrooms, a mother-in-law apartment, a large office/studio, 3 full & 2 half bathrooms, laundry room and garage. The great room at the back of the home has an exquisite galley kitchen and island that serves the large living/dining spaces. There is a wall of glass leading to the outdoor living/dining/entertaining space with gorgeous tropical landscaping, a swimming pool, water feature and outdoor shower. There is a large central courtyard and meditation garden that not only provides another peaceful outdoor respite but also allows natural light to filter throughout the home. Unique and clever design features abound some of which were designed and fabricated by the owner architect. One feels the cool, mod vibe as soon as entering the home. The floors are bright finished concrete. Walls vary between stenciled designs, Italian fresco and a crisp white surface for displaying artwork. Owners reserve the right to leaseback the property for up to 12 months beyond the closing date.
Directions: US1 S to Truman Ave. Turn left (south) on Margaret St. House is on the left on Margaret between Virginia and Catherine Streets.

Fee Includes

None: Yes

Dockage

None: Yes

Tax Exemptions

Homestead: Yes

Appliances

Dishwasher: Yes
Disposal: Yes
Dryer: Yes
Freezer: Yes
Microwave: Yes
Oven: Yes
Range: Yes
Refrigerator: Yes
Stainless Steel Appliance(s): Yes
Washer: Yes
Wine Cooler: Yes

Pets

Pets Allowed: Yes

Cooling

Ceiling Fans(s): Yes
Central Air: Yes
Ductless: Yes
Heat: Yes

Waterfront

None: Yes

Waterview

No Waterview: Yes

Floor

Concrete: Yes

Interior Features

Built-in Cabinets: Yes
Entrance Foyer: Yes
Quartz Countertops: Yes
Sky Light(s): Yes
Storage: Yes
Walk-in Closet(s): Yes
Wet Bar: Yes

Property Condition

Updated/Remodeled: Yes

Specialty Rooms

Laundry Room: Yes
Other: Yes

Windows/Doors

Impact Rstnce Doors: Yes
Impact Rstnce Window: Yes

Construction

CBS: Yes
Concrete: Yes
Hardi Board Siding: Yes

Land Size

Less Than 1/4 Acre: Yes

Furnished

Furnished: Yes
Partially: Yes

Utilities

Cable Available: Yes
FKAA: Yes
Municipal Sewer: Yes

Porch/Balcony

Deck: Yes
Patio: Yes

Exterior Features

Fencing: Yes
Fruit Tree(s): Yes
Lighting: Yes
Outdoor Shower: Yes
Privacy Wall/Fence: Yes
Sprinkler System: Yes
Water Display: Yes

Pool Info

In Ground: Yes
Concrete: Yes
Decked: Yes

Pre-Wired

Cable: Yes

Roof

Other Roof: Yes

GF-Interior Features

LED Lighting: Yes
Tankless Hot Wtr Htr: Yes

Property Features

Fee Includes: None Tax Exemptions: Homestead Waterfront: None Waterview: No Waterview Dockage: None Property Condition: Updated/Remodeled Building Style: Ground Level Vehicle Storage: Garage Furnished: Furnished; Partially Cooling: Ceiling Fans(s); Central Air; Ductless; Heat Utilities: Cable Available; FKAA; Municipal Sewer Interior Features: Built-in Cabinets; Entrance Foyer; Quartz Countertops; Sky Light(s); Storage; Walk-in Closet(s); Wet Bar Pre-Wired: Cable Specialty Rooms: Laundry Room; Other Appliances: Dishwasher; Disposal; Dryer; Freezer; Microwave; Oven; Range; Refrigerator; Stainless Steel Appliance(s); Washer; Wine Cooler Exterior Features: Fencing; Fruit Tree(s); Lighting; Outdoor Shower; Privacy Wall/Fence; Sprinkler System; Water Display Pool Info: In Ground; Concrete; Decked Construction: CBS; Concrete; Hardi Board Siding Floor: Concrete Roof: Other Roof Pets: Pets Allowed Land Size: Less Than 1/4 Acre GF-Interior Features: LED Lighting; Tankless Hot Wtr Htr

Documents

Survey ›

Seller's Disclosure ›

Floor Plan (not to scale) ›

Zoning Map ›

FEMA Map (pre risk rating 2.0) ›

Lead Based Paint Disclosure ›

Insurance Dec Page ›

Listing Office: Truman & Co. (KW)

Last Updated: December - 30 - 2025

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