This is a great opportunity to build a property out from scratch and basically have a brand new build for cheap. The foundation and block walls are in good condition so there is no demo needed. The property does need an addition to maximize the ARV. It also needs new electrical, rafters/roof, interior walls/flooring, kitchen, and bathrooms.

The property is currently 864 sqft but there is an easy opportunity to add a 400 sqft addition since it is just the block exterior. The ARV increases by over $100k as a 1,250 sqft and 2 bath home which gives this property a much larger spread. Asking price is almost $220k less then the ARV which should leave at least $100k profit for any investor that is comfortable with the project scope.

1,250 sqft/2 bath Comps:

3718 N 36th St, Tampa, FL, 33610 - $ 399,000

3012 N 16th St, Tampa, FL, 33605 - $ 389,900

2917 E 19th Ave, Tampa, FL, 33605 - $ 350,000