1016 Varela Street B, Key West, FL 33040

$1,495,000
Property Type: Residential Bedrooms: 3 Baths: 3 Square Footage: 1,306 Lot Size (sq. ft.): 2,218 Status: Active
Current Price: $1,495,000 List Date: 2/20/2026 Last Modified: 2/24/2026

Description

Set within a private, secluded compound and thoughtfully designed for both comfort and sophistication, this completely renovated tropical residence offers a rare blend of tranquility and refined island living. Historic Old Town Location on high elevated ground and X-Flood Zone, It's conveniently located to multiple restaurants, cafes, White St. Pier & Beaches. Two separate entrances from both Varela St. and the quiet end of Watson Lane enhances both privacy and ease for owners and visiting family alike. The three-bedroom, three-bath home has been meticulously reimagined by its owner with an emphasis on quality craftsmanship, enduring materials, and elegant functionality. The layout is particularly well-suited for owners who value space for extended family, visiting children, or long-term guests. A generous upstairs apartment with kitchen provides a fully private retreat- with a separate entrance ideal for multigenerational living, seasonal visitors, mother in law suite or a serene home office separate from the main residence. On the main level, the spacious primary suite is framed by modern barn doors and designed as a calm, luxurious sanctuary. Its renovated en-suite bath blends historic character with contemporary comfort, rain shower, and refined scalloped tilework that evokes timeless coastal elegance. A second en-suite bedroom, located just beyond the kitchen through discreet pocket doors, offers flexibility as either a guest room or a sophisticated workspace, complete with a built-in Murphy bed to maximize both form and function. 1016 Varela St. rear, features a beautifully updated Kitchen, new smart appliances, resurfaced hardwood floors, renovated bathrooms with quartz countertops, Impact windows and doors, high cathedral ceilings and room for a small pool in the rear has been confirmed. Plenty of storage for bicycles, holiday decorations, tools and more! 1016 Varela St. Rear is ready for immediate occupancy, the perfect Island winter sanctuary.

More Information MLS# 618738

Contract Information

Current Price: $1,495,000 Listing Date: 2026-02-20 Listing Board: Key West Association List Price: $1,495,000 Potential Short Sale: No Bank Owned: No

Location Tax Legal

Street #: 1016 Street Name: Varela Street Suffix: Street Key/Island: Key West State/Province: FL Zip Code: 33040 County: Monroe Subdivision: Gwynn Sub (1.0) Area: 02 - Key West

General Property Description

Realtor.COM Type: Residential - Single Family Style: Single Family Waterfront: No Pool: No Year Built: 1994 Lot Size: X Lot SqFt: 2218 Acres: 0.05 Living Apx SqFt: 1306 SqFt Source: Property Data Card Total Bedrooms: 3 Full Baths: 3 Total Baths: 3 Rentals Allowed: With Restrictions Min Rental Days: 28

Status Change Info

Status: Active

Association Info

Mandatory Home Owners Asc: No 1st Right of Refusal: No

License Info

# of City License: 1

Building Style

Above Flood: Yes Stories: 2 Stories

Financial Status

Bank Owned: No Potential Short Sale: No Standard Sale: Yes

Property Features

Fee Includes: None Tax Exemptions: None Waterfront: None Waterview: No Waterview Dockage: None Property Condition: Updated/Remodeled Building Style: Conch Furnished: Negotiable Cooling: Ceiling Fans(s); Ductless Utilities: FKAA; Municipal Sewer; Well Interior Features: Cathedral Ceilings; Fire Sprinkler; Quartz Countertops; Smoke Alarms Pre-Wired: Cable Appliances: Dishwasher; Dryer; Microwave; Oven; Refrigerator; Stainless Steel Appliance(s); Washer Construction: CBS; Frame Floor: Wood Roof: Metal Roof Pets: Pets Allowed Land Size: Less Than 1/4 Acre

Room Information

Bedroom 2 Kitchen Length: 11.70 Length: 11.70 Width: 12.96 Width: 12.96 Living Room Length: 13.29 Length: 13.29 Width: 21.37 Width: 21.37 Bedroom 1 Length: 24.82 Length: 24.82 Width: 13.72 Width: 13.72
Listing Office: Suzanne Moore Real Estate
Last Updated: February - 24 - 2026
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.