$285,000
Active · 1 days on market · MLS# MFRTB8526602
| Bedrooms | 2 |
|---|---|
| Bathrooms | 1 |
| Living area | 910 sq ft |
| Lot size | 0.17 acres |
| Year built | 1948 |
| Property type | Single Family Residence |
| Private pool | Yes |
| Waterfront | Yes |
| Annual taxes | $3,780 |
| County | Hillsborough |
Welcome to 2342 W Chestnut Street—a rare dual-development opportunity on a 7,426 sq ft double lot in Tampa's desirable RMC-16 zoning district. This property consists of a single parcel with an established 900 sq ft residential home in sound structural condition, plus significant vacant land that can be developed or subdivided. Owner-occupants will appreciate the renovated home as-is, while developers and investors will see substantial profit potential: after renovation and new construction, this property can generate approximately $950,000 in combined sale value—with comparable luxury townhomes in the area currently selling for $525,000-$575,000, and renovated single-family homes commanding $360,000-$380,000. The RMC-16 zoning allows for multi-unit development without rezoning, making this an ideal project for builders seeking to maximize land utilization and ROI. Develop both properties simultaneously, renovate the existing home for immediate cash-out, or execute a phased approach—the flexibility is yours. Perfect for investors and builders looking to capture significant value in an established, accessible residential corridor with strong market demand for quality townhome construction.
Listing courtesy of Shalimar Santiago, REI BROKERAGE HOUSE, INC.. Presented by MC Homes Realty Inc · 727432218.