$289,000 - 401 W Wright St, Pensacola

Offered Turnkey & Furnished | Owner Financing Available. A charming one bedroom bungalow on an oversized 0.17-acre corner lot in the historic and thriving Belmont-DeVilliers neighborhood of Downtown Pensacola. With a central location, flexible zoning potential, and a unique backstory rooted in Pensacola’s vibrant culture, this property is full of opportunity—for investors, creatives, and anyone with an eye for potential. This fully renovated urban studio bungalow is currently operating as a furnished Airbnb and is currently leased on an annual basis for $1,695/month—a turnkey income-producing property from day one. With gleaming hardwood floors, a modern kitchen, updated tile bath, cozy sleeping nook with queen bed, and a pull-out sofa, this light-filled home is ideal for travelers, tenants, or short-term guests. A private, fenced backyard with outdoor seating and laid-back, beachy vibes. Off-street parking for two cars adds convenience in this walkable downtown location. The Lot + Possibilities: This huge corner parcel offers rare flexibility in one of the most exciting areas of Pensacola: Build a duplex (side-by-side or up/down) Keep the current house and add an Accessory Dwelling Unit (ADU) Add a garage with carriage house apartment, Use the backyard for RV parking or lease it separately, Install a pickleball court and create a "Pickle Pied-à-Terre" Or, start fresh and redevelop the entire site. Building plans are available, and owner financing is offered at 6.75% interest with a mandatory 5-year balloon, making this an accessible and creative opportunity for a range of buyers. Just a few blocks from Palafox Street, Everman’s Cooperative Grocery and Cafe, the Pensacola Bay Center, The Maritime Park and Wahoo Stadium. The area is buzzing with revival energy—iconic eateries like Five Sisters Blues Café, Blue Dot BBQ and Dwarf Chicken blend with newcomer Betty’s on Belmont and the in progress Great Harvest Bakery at the nearby Savoy Apartments.