Located in the Lealman Code District, an area targeted by the City of St. Petersburg for revitalization and reinvestment, this property presents a compelling opportunity for a developer, builder, or owner-operator seeking infill upside with existing cash flow. The site includes a primary structure historically used as a duplex, with one side impacted by a prior fire event, creating flexibility for restoration, reconfiguration, or redevelopment, subject to City review and approvals. In addition, the property features two detached, income-producing cottages that are currently leased and generating reliable revenue. The cottages produce $1,732 per month ($20,784 annually) in gross rental income. Tenants pay for their own electricity and cable, while trash service is included in the property taxes, resulting in a low-expense, low-maintenance carry profile. This in- place income allows a buyer to offset holding costs while evaluating redevelopment plans or pursuing entitlement strategies. Situated within an active enhancement corridor, the property benefits from alignment with the City’s vision for neighborhood reinvestment, infill housing, and long-term appreciation. The combination of multiple structures, income during hold, and redevelopment optionality makes this asset well-suited for a variety of strategies, including infill redevelopment, owner-occupied renovation with supplemental income, or land banking in a growing St. Petersburg submarket. Buyer to verify zoning, unit count, and redevelopment potential.