Under contract-accepting backup offers. DEVELOPERS & INVESTORS TAKE NOTE! This unique property in Rio Visa, Pinellas County presents an exceptional opportunity for redevelopment or multi-generational living. Sold for its LAND VALUE, this property comprises TWO SEPARATE LOTS, (already approved by the city) primed and ready to construct two single-family homes. Imagine the possibilities! Currently, the existing Concrete structure offers two distinct living spaces. The first floor features 2 bedrooms plus a bonus room and 1 bathroom. The second floor, accessible via a separate entrance above the garage, includes 1 bedroom, a bathroom, and a kitchen. This configuration totals 3 bedrooms and 2 bathrooms which needs complete renovation. While each unit has its own separate water heater, electric meter, and water meter, offering the potential for individual utility management, the property is being sold for its land value and potential for new construction. A less-than-5-year-old roof offers some existing value. Please note: The property requires a new air conditioning system and experienced minor flooding in the Florida room, where remediation has been completed. Located in a flood zone, the property also includes a parking slab. This highly sought-after neighborhood is experiencing a surge in new construction and rising property values. A recent comparable sale in 2024 saw a new home in the area fetch $1,200,000, underscoring the potential of this location. Don't miss this rare chance to capitalize on a prime development opportunity! Schedule your showing today!