$2,959,950
Key West, FL 33040
MLS# 597949
Status: Closed
4 beds | 5 baths | 3000 sqft
1 / 70
Property 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 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.
Details
Maps
Documents
Contract Information
Listing Board: Key West Association
Current Price: $2,959,950
Listing Date: 2021-10-01
Sold Price: $2,959,950
Location, Tax & Legal
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
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
General Property Description
Realtor.COM Type: Residential - Single Family
Waterfront: No
Control Depth: 0
Lot Size: 49x107
Lot SqFt: 5243
Pool: Yes
Total Units: 0
Acres: 0.12
SqFt Source: Builder/Architect
Rentals Allowed: With Restrictions
Min Rental Days: 30
Style: Single Family
Year Built: 1948
Living Apx SqFt: 3000
Total Bedrooms: 4
Full Baths: 3
Half Baths: 2
Total Baths: 5
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.
Status Change Info
Sold Comments: included $11,950 of furnishings & $48,000 of art
Sold Date: 2021-10-21
Sold Price: $2,959,950
Status: Closed
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Association Fee $: 0
Fee Includes
None: 1
Dockage
None: 1
Tax Exemptions
Homestead: 1
Appliances
Dishwasher: 1
Disposal: 1
Dryer: 1
Freezer: 1
Microwave: 1
Oven: 1
Range: 1
Refrigerator: 1
Stainless Steel Appliance(s): 1
Washer: 1
Wine Cooler: 1
Pets
Pets Allowed: 1
Cooling
Ceiling Fans(s): 1
Central Air: 1
Ductless: 1
Heat: 1
Waterfront
None: 1
Waterview
No Waterview: 1
Floor
Concrete: 1
Interior Features
Built-in Cabinets: 1
Entrance Foyer: 1
Quartz Countertops: 1
Sky Light(s): 1
Storage: 1
Walk-in Closet(s): 1
Wet Bar: 1
Property Condition
Updated/Remodeled: 1
Specialty Rooms
Laundry Room: 1
Other: 1
Building Style
Above Flood: Unknown
Ground Level: 1
Stories: 1 Story
Windows/Doors
Impact Rstnce Doors: 1
Impact Rstnce Window: 1
Vehicle Storage
Car(s): 1
Garage: 1
Construction
CBS: 1
Concrete: 1
Hardi Board Siding: 1
Land Size
Less Than 1/4 Acre: 1
Furnished
Furnished: 1
Partially: 1
Utilities
Cable Available: 1
FKAA: 1
Municipal Sewer: 1
Porch/Balcony
Deck: 1
Patio: 1
Exterior Features
Fencing: 1
Fruit Tree(s): 1
Lighting: 1
Outdoor Shower: 1
Privacy Wall/Fence: 1
Sprinkler System: 1
Water Display: 1
Pool Info
In Ground: 1
Concrete: 1
Decked: 1
Pre-Wired
Cable: 1
Roof
Other Roof: 1
GF-Interior Features
LED Lighting: 1
Tankless Hot Wtr Htr: 1
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
Survey 
Zoning Map 
Listing Office: Truman & Co. (KW)
Last Updated: December - 30 - 2025
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.