3281 Gifford Lane, Coconut Grove, FL 33133
$499,000 | 2 bedrooms/2.5 bathrooms | 1,390 sf | Listed by Pura Valdes of La Ley Realty Corp.

Coconut Grove is without a doubt one of the most sought-after locations for Miami home buyers, and it’s easy to see why.  The neighborhood is rich with history, having been formed in 1925.  Situated east of US-1 and bordered by Biscayne Bay, “the Grove,” as referred to by locals, is home to numerous parks, festivals, sailing and yachting clubs, restaurants, cafes and open-air shopping centers (notably, CocoWalk).  Additionally, the Grove boasts some of the most distinguished private schools in Miami, as well as museums and cultural attractions.

The Grove can be broken up into smaller neighborhoods, referred to as “North Grove,” “South Grove,” and “Center Grove.”  Center Grove is a unique residential area that consists of small complexes of townhomes, garden apartments/condos, duplexes and a handful of single family homes.  Young families love it for its semi-suburban feel, walkability, and proximity to Blanche Park (a dog and kiddie park), as well as CocoWalk and the Kirk Monroe Tennis Center.  Young professionals love it for the same reasons, as well as its proximity to Brickell, Downtown Miami and the beaches.  Unfortunately, the demand in the neighborhood has spiked prices over the last year or so, making it very difficult for first-time home buyers to get in on the action.

Yet patient house-hunters will be rewarded with a well-priced gem ever so often.  Recently, I have noticed more of those gems popping up; they are not necessarily new listings but rather overpriced properties that have sat on the market for quite some time and are now seeing reduced price tags.

One such property is our feature for this week’s Under $500k: a lovely Nantucket-style townhome located at 3281 Gifford Lane, listed for $499,000.  Originally listed for $599,000 in June 2013, it was reduced to $550,000 in August and to $499,000 just a few days ago.

The property sits on Gifford Lane, a beautiful, tree-lined street just walking distance to the shops at CocoWalk, Coconut Grove Elementary School, and the public tennis courts at Kirk Monroe.  It is one of a handful of townhomes that make up “Nantucket Cove,” complete with cozy, covered porches, Nantucket-style windows with shutters and paved brick driveways.

Built in 1996, the townhome has 2 bedrooms, 2 full bathrooms, a powder room, and nearly 1,400 square feet.  But before I say another word, let’s take a look at the GORGEOUS, updated kitchen, shall we?

The listing states that the kitchen has custom-made cabinets, stainless steel appliances and a gourmet gas stove…yes, a GAS stove…heaven!

Other features of the property include two master bedrooms, travertine marble floors on the first level, a beautiful staircase in oak wood, a fireplace in the family room and gated parking to fit two cars.  There is also a small backyard and a storage shed.

Check out all of the photos below and let me know…what do you think of this little slice of Nantucket heaven in the Grove?

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