A rare opportunity to acquire a beautifully restored 1940 coastal-inspired Key West style Florida bungalow positioned on an oversized 0.38-acre parcel offering future subdivision potential. Following closing, the property may be split into three separate lots, creating one residence lot with the existing home, and two additional buildable parcels-an exceptional value-add opportunity in a highly desirable Sarasota location. The 3-bedroom, 1.5-bath residence blends architectural character with curated modern upgrades. Interior highlights include refinished bamboo and wood flooring, exposed wood ceiling beams, and custom cedar built-ins that enhance the home's refined coastal Key West bungalow aesthetic. The chef's kitchen is thoughtfully designed with solid wood cabinetry, quartz countertops, an imported Italian tile backsplash, and updated stainless steel appliances. An adjacent addition provides expanded pantry storage and a laundry area, leading to a spa-inspired primary bathroom featuring dual vanities, a freestanding soaking tub, and a walk-in rain shower. The upper level hosts a private primary suite with a generous walk-in closet with built-ins, a second bedroom, and an updated half bath, while the third bedroom is conveniently located on the main level-ideal for guest accommodations or flexible use. Outdoor living has been elevated to an almost resort-style experience, featuring a 12-foot above-ground pool/spa with custom wood decking, multiple patios finished with imported Italian crystal tile, and a lush botanical setting with over 200 plantings and mature fruit trees including banana, mango, avocado, peach, and guava. Additional amenities include a pavilion, private outdoor shower, and a firepit designed for elevated entertaining and relaxation. Significant capital improvements include a 2023 metal roof, hurricane-rated windows, 2021 HVAC system, 2022 water heater, recent connection to public water, and a 2024 well pump with filtration system also on property. The home offers insulated and drywalled interiors, newly installed wheelchair-accessible outdoor walkway paths, an extended 6+ vehicle driveway, and a 12x14 detached workshop or garage, further enhancing functional versatility. With no HOA, no deed restrictions, and no flood insurance required, this property presents an exceptional combination of lifestyle appeal and long-term investment flexibility. Ideally located just minutes from downtown Sarasota's premier dining, shopping, and cultural attractions, this offering is well-suited for private ownership, redevelopment, or strategic portfolio expansion.