Residential Land for Sale in Pensacola, Florida

Prime East Hill Development & Investment Opportunity - Rare Double Parcel with Potential Bay Views An exceptional investment and redevelopment opportunity in one of Pensacola's most sought-after neighborhoods. This rare combined property package encompasses two adjoining parcels totaling approximately 135' x 137.5' (18,562+/- square feet) on a highly desirable corner location in East Hill, directly across from a public park and just minutes from vibrant Downtown Pensacola. Whether you're seeking immediate rental income, a long-term investment, or a premier development opportunity, this property offers outstanding flexibility and upside. The existing homes provide excellent rental potential while future plans are realized, or the parcels may be redeveloped to maximize value. Significant pre-development work has already been completed, including City Planning approvals and documentation for: Demolition permit and clearance Arborist approval for tree removal Approval to subdivide into three residential lots Existing boundary surveys from the original purchase Front yard averaging completed on July 23, 2025, with documentation available The previously approved subdivision configuration consists of: One corner lot measuring approximately 50' x 137.5' Two interior lots measuring approximately 42.5' x 137.5' each The elevated location also offers the potential for Pensacola Bay views from future new construction. Property Details 1301 E. La Rua Street Parcel ID: 0005009025001065 3 Bedrooms | 2 Bathrooms Approximately 1,830 square feet Situated on a 70' x 137.5' (9,583+/- square foot) lot Zoned R-1AA Medium Density No Historic District restrictions 1305 E. La Rua Street Parcel ID: 0005009025002065 3 Bedrooms | 1 Bathroom Approximately 1,524 square feet Situated on a 65' x 137.5' (0.2052-acre) lot Zoned R-1AA Medium Density No Historic District restrictions Opportunities of this scale are increasingly rare in East Hill. With substantial entitlement work already completed