2342 W Chestnut St., Tampa, FL 33607

Under contract-accepting backup offers. Welcome to 2342 W Chestnut Street—a rare dual-development opportunity on a 7,426 sq ft double lot in Tampa's desirable RMC-16 zoning district. This property consists of a single parcel with an established 900 sq ft residential home in sound structural condition, plus significant vacant land that can be developed or subdivided. Owner-occupants will appreciate the renovated home as-is, while developers and investors will see substantial profit potential: after renovation and new construction, this property can generate approximately $950,000 in combined sale value—with comparable luxury townhomes in the area currently selling for $525,000-$575,000, and renovated single-family homes commanding $360,000-$380,000. The RMC-16 zoning allows for multi-unit development without rezoning, making this an ideal project for builders seeking to maximize land utilization and ROI. Develop both properties simultaneously, renovate the existing home for immediate cash-out, or execute a phased approach—the flexibility is yours. Perfect for investors and builders looking to capture significant value in an established, accessible residential corridor with strong market demand for quality townhome construction.