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Listing Board: Key West Association

Potential Short Sale: No

Bank Owned: No

Current Price: $1,170,000

Listing Date: 2026-05-18

List Price: $1,170,000

KW Neighborhood: Old Town-S of Truman

Unit #: Rear

City: KEY WEST

Mile Marker: 1

Marathon Neighborhood: N/A

Side: Median

Flood Zone: 0.2 PCT ANNUAL CHANC

Alternate Key #: 9104094

Handicap Access: No

Parcel #: 00032610-000320

Zoning: HMDR - Historic Medium Density Residential

Deed Restrictions: Unknown

Legal: Kw Gwynn Sub 0-195 Pt Lot 19 Sqr. 1 Tr 13 (A/K/A Parcel B 1016 Varela Townhomes)

Taxes: 7823.67

Tax Year: 2025

Pub Sewer HkUp: Yes

Street #: 1016

Street Name: Varela

Street Suffix: Street

Key/Island: Key West

State/Province: FL

Zip Code: 33040

County: Monroe

Subdivision: Old Town - Unrecord (1.0)

Area: 01 - Key West

Realtor.COM Type: Residential - Single Family

Waterfront: No

Control Depth: 0

Lot Size: X

Lot SqFt: 2218

Pool: No

Acres: 0.03

SqFt Source: Property Data Card

Rentals Allowed: With Restrictions

Min Rental Days: 28

Style: Single Family

Year Built: 1924

Living Apx SqFt: 1306

Total Bedrooms: 3

Full Baths: 3

Total Baths: 3

Remarks – Consumer: Hidden away on one of Old Town's most storied streets, 1016 Varela St. Rear is the kind of Key West address that feels like a private discovery. Originally constructed in the 1920s, this piece of living Key West history has been thoughtfully renovated while honoring the character that only a century of island life can impart. Tucked discreetly behind the street, the fully restored 3-bedroom, 3-bathroom residence offers a rare sense of seclusion in the heart of historic Old Town -- without sacrificing a single step of the legendary walkability that defines this neighborhood. Duval Street, world-class dining, the harbor, and the full tapestry of Key West life are all moments away on foot. Arrive home to a covered front porch -- the quintessential Key West perch for morning coffee or evening cocktails. Inside, soaring cathedral ceilings flood the living spaces with light and volume, while refinished hardwood floors, an updated kitchen, and impact windows throughout speak to a renovation done with care and intention. The private rear yard offers room for a pool, a rare opportunity to create your own tropical retreat in the heart of Old Town. A separate upstairs apartment with its own private entrance offers exceptional flexibility: a sanctuary for a young adult, an elegant in-law suite, or an income-producing rental that helps carry the property. For the discerning buyer, two details stand above the rest: 1016 Varela Rear sits in an X flood zone -- the premier flood designation in the Keys, carrying no flood insurance requirement -- and the property carries an assumable VA loan, a remarkable financial advantage for qualified buyers in today's market. In Old Town Key West, a century-old home with this much flexibility and this little compromise is extraordinarily rare. Welcome to your hidden corner of paradise.

Mandatory Home Owners Asc: Yes

1st Right of Refusal: No

Association Fee $: 0

Assoc/Mnt Fee Per: Yearly

# of City License: 1

None: 1

None: 1

None: 1

Dishwasher: 1

Dryer: 1

Microwave: 1

Oven: 1

Refrigerator: 1

Stainless Steel Appliance(s): 1

Washer: 1

Pets Allowed: 1

Ceiling Fans(s): 1

Ductless: 1

None: 1

No Waterview: 1

Wood: 1

Cathedral Ceilings: 1

Fire Sprinkler: 1

Quartz Countertops: 1

Smoke Alarms: 1

Updated/Remodeled: 1

Above Flood: Yes

Conch: 1

Stories: 2 Stories

CBS: 1

Frame: 1

Less Than 1/4 Acre: 1

Unfurnished: 1

FKAA: 1

Municipal Sewer: 1

Well: 1

Deck: 1

Open Porch/Balcony: 1

Cable: 1

Metal Roof: 1

Bank Owned: No

Potential Short Sale: No

Standard Sale: Yes

Status: Active