R3 ZONING, 6 UNITS capability! Very rare opportunity to own an R3 (Short term rental allowable) lot on Island near the beach and downtown Fernandina. Lot fronts Jasmine St and S Sixteenth St. Seller has started the engineering process and has documents to support subdividing the lot to accommodate six multi family units. Lot has access to sewer and city water. No HOA! Seller has completed the due diligence study and according to CoFB rules: the site is appropriate for a maximum of 6 condos or apartments units, or 5 fee simple townhouse units, or 4 detached single family residences. This is truly a rare piece of property and has an abundance of opportunities.