1016 Varela Street #Rear, Key West, FL 33040
Local realty services provided by:Better Homes and Gardens Real Estate Destinations
1016 Varela Street #Rear,Key West, FL 33040
$1,170,000
- 3 Beds
- 3 Baths
- 1,306 sq. ft.
- Single family
- Active
Listed by: suzanne m moore
Office: suzanne moore real estate
MLS#:619952
Source:FL_FKBOR
Price summary
- Price:$1,170,000
- Price per sq. ft.:$895.87
About this home
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....
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Home facts
- Year built:1924
- Subdivision & Development:Old Town - Unrecord (1.0)
- Listing ID #:619952
- Added:80 day(s) ago
- Updated:August 07, 2026 at 02:59 PM
Rooms and interior
- Bedrooms:3
- Total bathrooms:3
- Rooms Total:4
- Kitchen Description:Quartz Countertops
- Living area:1,306 sq. ft.
Heating and cooling
- Cooling:Ceiling Fans(s), Ductless
Structure and exterior
- Year built:1924
- Building area:1,306 sq. ft.
- Lot area:0.05 Acres
- Construction Materials:Frame
Finances and disclosures
- Price:$1,170,000
- Price per sq. ft.:$895.87
- Tax amount:$7,823
Features and amenities
- Amenities:Cathedral Ceilings, Fire Sprinkler, Smoke Alarms
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