Property Description

A developer's dream: Over a half-acre of land, corner lot, with RM-10 zoning in the heart of highly sought-after South Pasadena, just minutes from St Pete Beach! This .6 acre (MOL) parcel has been conceptually approved by the City for the development of five townhomes, which we believe is the highest and best use. UP TO 50% SELLER FINANCING MAY BE AVAILABLE - TERMS NEGOTIABLE.The parcel consists of two platted lots, currently under common ownership: 7001 Hibiscus Ave S (Lot 18)- This parcel is .3 acres (allowing up to three dwelling units). It currently has a 1960's-era block 1,344 sq ft single family home and a 1990's-era wood frame, three story 6,600 sq ft 'duplex with extensive wood balconies and decking in need of repairs or demolition. Both structures are flood damaged (from 2024 hurricanes)7011 Hibiscus Ave S (Lot 17) - This parcel is .296 acres (allowing up to two dwelling units). It currently has a flood damaged 1950s-era wood frame single family home in need of demolition.This configuration allows for maximum flexibility in terms of redevelopment:Option 1: Keep the parcels separate, and build up to three units on lot 18, and up to two units (or a large SFH with ADU) on lot 17.Option 2: Combine the parcels and build 5 townhomes facing Bignonia. Option 3: Lobby the City Commission and request a variance for a 6th unit (lot 17 is about 200 sq ft short of .3 acres), and build up to 6 units in total.Recent surveys and email correspondence with the City is included in the MLS attachments.

Property Features