Property Description
Half an acre of direct waterfront on Old Tampa Bay with 108 feet of frontage and a 203-foot-deep lot on Shore Drive E, Oldsmar's most sought-after waterfront street. Open bay views west across the water, a second-floor balcony that showcases spectacular sunset views of Tampa Bay, and a screened pool and spa on a paver deck facing the bay. The existing 1962 two-story block and stucco home, 2,454 sf with 4 full baths, tile roof, and fireplace, flooded in 2024 and has been professionally remediated, with lower-level drywall removed to the flood line. Two paths forward: build new on one of the larger waterfront parcels on the street, or keep and lift. Unique to this property: the seller has been approved for Elevate Florida, the state's FEMA-funded residential elevation program, with an estimated $402,000 in federal funding toward raising the existing home above the floodplain (Structure Elevation), along with adding an additional 800 sqft of under-roof living space. Subject to an owner cost share per the FDEM financial packet. Per the Florida Division of Emergency Management, a new owner may elect to continue the approved project after closing, subject to completing program documentation and assuming program obligations, including a deed restriction requiring NFIP flood insurance for the life of the elevated structure. All figures are estimates from the FDEM financial packet and are subject to change. Buyer to verify all program terms directly with FDEM. No HOA, no CDD. Walkable to Mobbly Bayou Beach Park, RE Olds Park and Veterans Park, and the Oldsmar boat ramp. Minutes to Tampa International Airport and the Gulf beaches. Cash or construction financing. Seller's flood disclosure, remediation documentation, FDEM correspondence, and survey available in attachments.
