Investor developer opportunity positioned along the highly coveted Dunedin Causeway. 439 Causeway presents a rare, INCOME-PRODUCING waterfront assemblage with exceptional upside. Zoned FX-M, this property allows multifamily development of UP TO 10 UNITS, making it a strategic acquisition for investors, developers, or boutique hospitality operators seeking scale in one of Tampa Bay's most supply-constrained coastal corridors. Currently configured with two income-producing units plus a main residence, the property generates immediate cash flow while preserving long-term redevelopment potential. The site features durable CONCRETE BLOCK CONSTRUCTION on slab, with exterior paint and STUCCO REFRESHED in 2022 that add strong curb appeal. Each structure benefits from IMPACT-RATED WINDOWS and DOORS (2015), three HVAC SYSTEMS (2015), and SEPARATE ELECTRIC METERS for operational flexibility. Unit 439 has been thoughtfully renovated as a 2-bedroom, 2-bath residence with a MODERNIZED KITCHEN (2020), in-unit washer and dryer, and additional upgrades including NEW BASEBOARDS and TILE. Unit 437 mirrors the desirable 2-bedroom, 2-bath layout, featuring a 2023 KITCHEN REMODEL, EPOXY FLOORING, and in-unit laundry, suitable for both short-and long-term leasing. Unit 438 functions as a versatile 1-bedroom, 1-bath space ideal for office, gym, or ancillary rental use, with plumbing in place for washer/dryer installation. The exterior infrastructure is equally compelling, offering SIX DEDICATED PARKING SPACES along with a FULLY EQUIPPED RV HOOKUP including 50 AMP service, sewer, and water-an uncommon amenity that expands rental versatility. A PRIVATE POOL AND SPA elevate the lifestyle component, while DIRECT WATER ACCESS enhances both recreational appeal and future value positioning. Located just minutes from Downtown Dunedin, the property benefits from walkability to dining, retail, marinas, and the Pinellas Trail. The area is GOLF CART FRIENDLY and sits adjacent to the TD Hotel, home of Toronto Blue Jays SPRING TRAINING, which drives seasonal demand and premium rental rates. With FLEXIBLE ZONING, strong in-place income, and irreplaceable waterfront positioning, 439 Causeway represents a compelling blend of yield and development potential in one of Florida's most desirable coastal submarkets.