Prime Duplex Lot with Development Potential
Unlock the full value of this RM-16 zoned lot in Tampa. The property currently features a 1,438 sq. ft. single-family home (3 beds, 1 bath) plus a 226 sq. ft. detached studio with a bathroom and kitchenette.
The true opportunity lies in redevelopment: the lot's unique pie shape can accommodate a minimum of two luxury townhomes of 2,400+ sq. ft. each. Estimated resale values range from $900,000 to $1,000,000/unit.
New construction townhomes are thriving throughout the neighborhood, making this an ideal site for upscale development. A possible third unit may also be feasible, consult Tampa Zoning for specifics.
Utilities
BB/HS Internet Available, Cable Available, Electricity Available, Public, Sewer Connected, Water Connected
Lot Description:
Buildable, City Lot, Level
116 S ARRAWANA AVENUE, Tampa, FL, 33609
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
CT Mortgage Lender ML-2630 - MA Mortgage Lender and Mortgage Broker #MC2630 - NH Mortgage Banker #11083-MB - RI Mortgage Lender & Mortgage Broker #20051918LL & #20051919LB - NY Licensed Mortgage Banker - NYS Department of Financial Services LMBC 106535 / B500898 - NJ Residential Mortgage Lender 2630 - FL Mortgage Lender MLD1388 - VT Lender & Mortgage Broker #6952 & #1297MB
