1205 HIGHLAND ST S St Petersburg, FL 33701

The Innovation District is possibly the hottest gentrification opportunity in St Petersburg. Just a 1 minute walk away is the highly anticipated ARK Innovation center of Kathy Wood ARK investments fame. This unique Pocket in Downtown ST Petersburg between 4th St and 8th ST S and 10th Ave and 13th Ave S is being entirely rebuilt with numerous $ million plus homes recently sold and this is among the last opportunities to get a 9672 Sq Ft (mol)Lot in this specific location. It's a 1-minute drive to Bayfront Medical Center/Johns Hopkins Hospital complex, USF complex and 2 minutes to downtown. Drive these streets to see for yourself.
The opportunities here are many here are a few suggestions. This existing home is a handyman special and needs updating.
1) Knock existing SFR home and ADU down and rebuild a dream home surrounded by high end new builds. This Lot has alley access.
2) Renovate this home to suit your personal needs. Take advantage of the 2 Story ADU to use as you see fit. There are comparable properties approaching $500K for much smaller homes on half the lot size. Owner occupiers can design their dream home with huge area to create a limitless outside space.
3) Flippers/Rehabbers. Renovate and sell. There are almost no homes with a 9600+ Lot in this area with ally access. Realtors report insatiable demand for homes precisely and exactly in this pocket described above. Sell in days after renovations.
4) Buy and Hold Investors. This can be a cash monster! Renovate and rent the 3 bed 2 bath SFR and separately let out the studio apartment in the rear. Talk to Zoning about the second studio and how it can be used. Buyer to do their own due diligence on City/County laws.
The existing home is a blank canvas and has huge intrinsic value given the innovation district designation. Investors and owner occupiers will each see value according to their strategy.