A rare opportunity to own nearly .40 acres in East Hill with the ability to subdivide into two buildable lots, confirmed with City Planning & Zoning. Whether you're looking for a 1937 home to restore, an unusually large homesite for a primary residence, or your next development project, this property offers options that are increasingly difficult to find in East Hill. The existing 2 bedroom, 2 bath brick home has hardwood floors, mature oak trees, a charming arched front doorway, sunroom, and an additional bonus room between the hallway and primary bedroom. The home needs renovation, but there is plenty here to work with. Restore and expand the existing home while keeping an incredible amount of yard, renovate the home and build a second residence, or subdivide and build two new homes. The property directly behind this one sold this year for $450,000, was cleared, and two new homes are now being built on that site—and this lot is even larger. The location is a big part of the opportunity. East Hill's parks, restaurants, breweries, and neighborhood gathering spots are all close by, along with nearby boat launch access and Publix just a couple of minutes away. Downtown Pensacola is only a short drive or bike ride from home, putting festivals, restaurants, galleries, and waterfront events within easy reach. We'd love to see someone restore this 1937 home and take advantage of all that extra land, but for a builder or investor, the ability to subdivide nearly .40 acres in this location may be the real story.