New Listing
Description
Fully Renovated East Austin Property | Income Today + Development Upside Rare opportunity to own a fully renovated 2-bedroom, 2-bath home in one of Austin's most desirable and rapidly evolving areas. The property provides an attractive combination of immediate income, future development potential, and long-term land play. The home is currently occupied by a month-to-month tenant who is willing to sign a long-term lease, giving the next owner flexibility to either maintain the current arrangement or lock in longer-term rental income, making this a terrific covered land play opportunity. The real value is in the land and optionality. Based on current development plans, there is potential to add two additional units in the rear of the property, creating an opportunity to increase density and rental income while retaining the existing renovated home. For an investor, this is a compelling land-covered investment: collect income from a fully improved property today while maintaining multiple paths for future value creation. Keep the existing tenant on a long-term lease, pursue the addition of two additional units, or simply hold the property for potential long-term land appreciation. Highlights include: fully renovated home, 2 bedrooms and 2 bathrooms, existing month-to-month tenant willing to sign a long-term lease, immediate rental income, potential for two additional units, and significant long-term redevelopment optionality. A unique opportunity to acquire a cash-flowing property with embedded development potential in Austin. Buyer to independently verify zoning, development potential, permitting requirements, and ability to construct additional units.
Details
| MLS # | 7429541 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1946 |
| Days On Site | 2 |
| Listing Provided By | Beycome Brokerage Realty LLC | Steve Koleno |
Features
| Bed(s) | 2 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 898 |
| Story(s) | 1 |
| Acreage | 0.14 |
| Water Front | Yes |
| Property View | City, Garden |
Interior
| Interior Features | Two Primary Baths, Two Primary Suties, Primary Bedroom on Main |
|---|---|
| Cooling | Central Air |
| Heating | Central |
| Appliances | Built-In Gas Range, Built-In Range |
| Fireplaces Total | 0 |
| Window Features | Shutters |
| Flooring | Laminate |
Exterior
| Exterior Features | Private Entrance, Private Yard |
|---|---|
| Roof | Composition, Shingle |
| Foundation Details | Slab |
| Lot Features | Alley, City Lot, Level, Public Maintained Road |
| Patio And Porch Features | Porch |
| Fencing | Back Yard |
| Construction Materials | Frame, Wood Siding |
| Security Features | Fire Alarm |
Parking
| Parking Features | Additional Parking |
|---|---|
| Garage Spaces | 0 |
Utilities
| Utilities | Above Ground |
|---|---|
| Sewer | Public Sewer |
Other
| List Aor | Austin Board Of Realtors |
|---|
Taxes
| Property | 11036 |
|---|
Area Information
| State | TX |
|---|---|
| County | Travis |
| City | Austin |
| Zip Code | 78702 |
| Area | 5 |
| Community Name | Riverside |
| School District | Austin ISD |
| Elementary School | Zavala |
| High School | Eastside Early College |
| Listing VS Median (in Riverside) | |
Price: $699,500 low | high Med: $787,250 sqft: 898 low | high Med: 1,037 $ / sqft: $779 low | high Med: $762 On site: 2 low | high Med: 54 | |
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Listings courtesy of Austin Board of REALTORS® MLS as distributed by MLS GRID.
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Learn More About This Property
| State | TX |
|---|---|
| County | Travis |
| City | Austin |
| Zip Code | 78702 |
| Area | 5 |
| Community Name | Riverside |
| School District | Austin ISD |
| Elementary School | Zavala |
| High School | Eastside Early College |
| Listing VS Median (in Riverside) | |
Price: $699,500 low | high Med: $787,250 sqft: 898 low | high Med: 1,037 $ / sqft: $779 low | high Med: $762 On site: 2 low | high Med: 54 | |
