1016 Varela Street #Rear, Key West, FL 33040
Local realty services provided by:CENTURY 21 Circle
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....
Contact an agent
Home facts
- Year built:1924
- Listing ID #:619952
- Added:48 day(s) ago
- Updated:July 06, 2026 at 02:52 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
New listings near 1016 Varela Street #Rear
- New
$1,365,000Active2 beds 4 baths1,824 sq. ft.33 Seaside S Court, Key West, FL 33040
MLS# 620515Listed by: SERHANT FLORIDA LLC - DELRAY BEACH OFFICE - New
$849,000Active3 beds 3 baths1,274 sq. ft.3712 Duck Avenue, Key West, FL 33040
MLS# 620501Listed by: BERKSHIRE HATHAWAY HOMESERVICES KNIGHT & GARDNER REALTY - New
$725,000Active1 beds 1 baths420 sq. ft.308 Margaret Street #3, Key West, FL 33040
MLS# 620493Listed by: TRUMAN & CO. (KW) - New
$1,699,000Active3 beds 4 baths1,796 sq. ft.809 Washington Street # 102, Key West, FL 33040
MLS# 620477Listed by: VESTED PALM REAL ESTATE AND HOME SERVICES - New
$1,899,000Active2 beds 2 baths2,186 sq. ft.1115 South Street, Key West, FL 33040
MLS# 620470Listed by: TRUMAN & CO. (KW) - New
$899,995Active2 beds 2 baths798 sq. ft.3625 Seaside Drive # 25304, Key West, FL 33040
MLS# 620468Listed by: BEACH CLUB BROKERS (KW) - New
$610,000Active2 beds 2 baths1,032 sq. ft.3201 Pearl Avenue, Key West, FL 33040
MLS# 620466Listed by: ENGEL & VOELKERS KEY WEST - New
$1,050,000Active4 beds 2 baths1,342 sq. ft.1421-1425 2nd Street, Key West, FL 33040
MLS# 620461Listed by: KELLER WILLIAMS KEY WEST COMPASS REALTY - New
$979,000Active4 beds 2 baths2,111 sq. ft.1500 5th Street, Key West, FL 33040
MLS# 620453Listed by: ENGEL & VOELKERS KEY WEST - New
$950,000Active2 beds 2 baths1,469 sq. ft.1800 Atlantic Boulevard #218B, Key West, FL 33040
MLS# 620451Listed by: KELLER WILLIAMS KEY WEST COMPASS REALTY