101-year-old Coral Rock Cottage in the heart of the grove likely has a highly motivated seller and a $2.15 million price tag
An adorable old coral rock house and accompanying guesthouse on Oak Avenue in Coconut Grove at numbers 3041 and 3041 1/2 – practically spitting distance from the main highway – is the kind property that could only ever exist in Coconut Grove. The house is historically designated by the City of Miami, which certainly makes it not the kind of place one would or even could buy just for the land and the potential “location, location, location” investment.
The setting is a quiet, mostly residential street thick with lush subtropical vegetation. Yet the house is less than a block from the bustling, eclectic, art-filled commercial heart of Coconut Grove. Last year, the house officially turned 100 years old. Unfortunately, it has also been on the market since last year. After an initial offering in October 2021, listed at $2.6 million, the home has faced periodic price drops every few months, get to where it currently rests, at $2.15 million, in March. A reasonable assumption might be that the proud owners are, well, at this point probably quite motivated to sell.
They also get creative with sales tactics. One wonders how many times this listing description has been rewritten. The current text, which is very specific about the AirBnB potential of the place, is almost oddly specific. What if a potential buyer is looking for a single family home, or perhaps a lovely cottage feel for their new office space in Coconut Grove? Maybe they already tied the pitch like that. Either way, with the price still north of two million, they’re bound to turn a profit in pure profit no matter what. They bought it in 2005 for just $200,000.