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Jeff Kress

jeffkress@sbcglobal.net +1(512) 791-7744

$899,000

Est. payment - /mo

5 Beds

3 Baths

1,617 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,617 sqft

Price per Sqft $555

Subdivision Shelley N G

MLS Listing ID 2832948

Style 1st Floor Entry

Bedrooms 5

Full Baths 3

HOA Y/N No

Year Built 1952

Annual Tax Amount $15,419

Tax Year 2025

Lot Size 5,837 Sqft

Acres 0.134

Property Sub-Type Single Family Residence

Source actris

Property Description

Exceptional redevelopment opportunity in the heart of downtown Austin, where location, flexibility, and future potential come together. With Austin's HOME Phase 1 and Phase 2 ordinances now in effect, this property presents an outstanding opportunity for investors, builders, and developers seeking to maximize one of the city's most desirable urban locations.Situated on a single parcel, the property currently features two residences: a front home of approximately 1,617 sqft and a detached 300 sqft efficiency apartment. Both units are vacant, providing buyers with the rare advantage of immediate possession whether the plan is to renovate, lease, occupy, or begin redevelopment without the delays and complications of existing tenants. The fully fenced property offers gated access from both the front and rear, creating secure on site parking and convenient access for future redevelopment. The current owner has commissioned architectural plans envisioning a potential 3 unit redevelopment or alternatively, plans to renovate, expand vertically, or reimagine the current improvements to suit a variety of investment strategies. With both dwellings vacant, investors also have the flexibility to complete updates and immediately establish market rate rental income. Buyers are encouraged to conduct their own due diligence regarding development potential, permitting, and applicable city regulations.
Located just minutes from Rainey Street, Lady Bird Lake, downtown Austin, acclaimed restaurants, entertainment, shopping, and major employers, this property offers the rare combination of redevelopment flexibility, immediate usability, and long term appreciation potential in one of Austin's most sought-after neighborhoods. Whether you're looking to renovate, redevelop, or build from the ground up, this is a rare chance to capitalize on location, density potential, and long-term upside in one of Austin's most desirable urban cores.

Location

State TX

County Travis

Rooms

Main Level Bedrooms 4

Interior

Interior Features Ceiling Fan(s), Tile Counters, Kitchen Island, Primary Bedroom on Main, Recessed Lighting, Stackable W/D Connections

Heating Central, Wall Furnace, See Remarks

Cooling Central Air, Wall/Window Unit(s), See Remarks

Flooring Carpet, Laminate, Tile

Fireplaces Number 1

Fireplaces Type Living Room

Fireplace No

Appliance Dishwasher, Disposal, Microwave, Free-Standing Gas Oven, Refrigerator, See Remarks, Washer/Dryer Stacked

Exterior

Exterior Feature None

Fence Privacy, Wood

Pool None

Community Features Curbs, Sidewalks

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Waterfront Description None

View None

Roof Type Composition

Porch Patio, Porch

Total Parking Spaces 2

Private Pool No

Building

Lot Description Alley, Near Public Transit, Public Maintained Road

Faces North

Foundation Pillar/Post/Pier

Sewer Public Sewer

Water Public, See Remarks

Level or Stories One

Structure Type Brick Veneer,Vinyl Siding

New Construction No

Schools

Elementary Schools Barton Hills

Middle Schools Lively

High Schools Travis

School District Austin Isd

Others

Special Listing Condition Standard

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Listed by City View Realty

NEARBY SCHOOL & BUSINESS

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Jeff Kress

+1(512) 791-7744

Broker Associate | License ID: 392685

Broker Associate License ID: 392685

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1105 E 3rd ST Austin, TX 78702

Jeff Kress

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION