Rare opportunity to acquire a new construction 4-unit asset in the desirable North Kenwood neighborhood, uniquely configured as two fee simple townhouses, each with a detached Accessory Dwelling Unit (ADU) — offering flexibility, strong income potential, and long-term value. This property provides a compelling blend of modern design and intelligent density, allowing an investor to benefit from a small multifamily footprint while maintaining the appeal and exit optionality of fee simple ownership. Each townhouse functions as its own primary residence with a separate ADU, creating multiple income streams and potential for diversified tenancy strategies. From a financial perspective, this asset presents significant advantages for savvy investors. The property is well-suited for 1031 exchange buyers seeking to defer capital gains, and also offers the ability to implement a cost segregation strategy with potential for 100% bonus depreciation, creating powerful front-loaded tax benefits and improved after-tax returns. Priced below both replacement cost and current appraised value, this offering provides immediate equity on day one — a rare scenario in today’s construction environment where rising material and labor costs have made new builds increasingly difficult to replicate at this basis. Operationally, the new construction nature of the property delivers lower insurance premiums, reduced maintenance expenses, and improved efficiency, making it an attractive option for investors looking to maximize net operating income while minimizing long-term capital expenditures. Ideal for: Long-term hold investors 1031 exchange buyers Portfolio expansion Owner-occupant or house-hack strategies Investors seeking tax-advantaged real estate Located in North Kenwood, one of St. Petersburg’s rapidly improving urban neighborhoods, the property benefits from strong tenant demand, proximity to major employment centers, and continued neighborhood revitalization — positioning it for both immediate performance and sustained appreciation. This is a rare opportunity to secure a high-quality, modern asset with a layout that is difficult to replicate and financial advantages that enhance both short-term returns and long-term wealth creation.