116 S Arrawana Avenue Tampa, FL 33609

Approximately 9,548 square foot lot zoned RM-16 (Single Family, Multi-Family) with development potential for 4 Townhomes in desirable and thriving Park City. The lot is located near Hyde Park, Davis Islands, and Downtown Tampa. Nearby, new luxury townhomes have demonstrated strong resale values between $900,000 and $1,000,000, indicating the area's appeal. The property currently features a single-family home with 3 bedrooms and 1 bathroom, as well as a detached studio with a full bathroom and kitchenette, both of which are in need of some updating. Update existing buildings or this lot presents an ideal opportunity for an upscale, multi-unit development project, catering to a variety of housing needs in a highly sought-after location. Seller Motivated!
If there is no accepted contract with a developer or builder by August, the Seller will be updating the buildings and re-listing the property at market value. Perfect for owner occupied and the studio can be used for an in-law, teenager or a rental.
If a buyer wants to be involved in the updates, paint colors and appliances schedule an appointment today. The value of the land will continue to increase and should always be ready to build up to 4 townhomes. Sell to a builder in the future or build yourself and reap the rewards. Take advantage of this opportunity.