Should I build a multi family property or buy instead

[Michelangelo Landicho]

I live in Anchorage Alaska. My mom have a property that have a very nice location but the building on it is a single story with 2 bed and 1 bath about 800sqft but the land it’s on have a multi family zoning. The land itself is a good size to probably build a 4flex or even an 8flex I think, but I’m not sure if it will be better to just sell the property and start investing on an already build property or keep this and just knock down the house and build on the land instead?