New Listing
Description
Rare income-producing and redevelopment opportunity in highly desirable 78704! Situated on an approximately 8,612 SF (.198-acre) corner lot in a prime Central Austin location, this versatile property features three separate living spaces and approximately $6,600 per month ($79,200 annually) in current gross rental income, offering an exceptional opportunity for an investor, owner-occupant, or builder. The main home, approximately 1,104 SF, offers 2 bedrooms and 2 baths. A separate rear building includes two additional living spaces: an approximately 879 SF upstairs 2-bedroom, 1-bath Unit A, currently leased to long-term tenants, and an approximately 550 SF furnished 1-bedroom, 1-bath garage apartment, Unit B, currently operated as a short-term rental (STR). Both rear units may offer potential for short-term rental use, subject to buyer verification of applicable city regulations, permitting, and requirements. Owner pays utilities. The property offers income from day one with meaningful value-add potential. Unit A has not been updated, creating an opportunity to renovate and potentially increase rental income. Numerous improvements have been completed throughout the property, enhancing its immediate income-producing appeal. For investors, the property can be held as an income-producing property, renovated to maximize rental income, or explored for future redevelopment. The 8,612 SF corner lot may offer potential for three separate residences, subject to buyer verification of zoning, permitting, and development requirements. The flexible layout provides options for maximizing current income and future value. Ideally located just minutes from Downtown Austin, with easy access to South Congress, South Lamar, Lady Bird Lake, restaurants, shopping, and entertainment, this is a rare opportunity to acquire an income-producing property with multiple paths for future upside in one of Austin's most sought-after neighborhoods.
Details
| MLS # | 3738812 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1954 |
| Days On Site | 2 |
| Listing Provided By | Compass RE Texas, LLC | Alexa Kanelos |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 2,533 |
| Story(s) | 1 |
| Acreage | 0.20 |
| Water Front | Yes |
| Property View | None |
Interior
| Appliances | Dishwasher, Free-Standing Electric Range, Free-Standing Gas Range, Free-Standing Refrigerator, Washer/Dryer, Water Heater |
|---|---|
| Flooring | Tile, Wood |
Exterior
| Roof | Membrane, Shingle |
|---|---|
| Foundation Details | Slab |
| Lot Features | Back Yard, Corner Lot, Front Yard, Level |
| Patio And Porch Features | Covered, Porch, Screened, Side Porch |
| Fencing | Block, Wood |
| Construction Materials | Hardi Plank Type, Stone |
Parking
| Parking Features | Asphalt, Gravel, Outside |
|---|
Utilities
| Utilities | Electricity Connected, High Speed Internet, Natural Gas Connected, Sewer Connected, Water Connected |
|---|
Other
| List Aor | Austin Board Of Realtors |
|---|
Taxes
| Property | 14686 |
|---|
Area Information
| State | TX |
|---|---|
| County | Travis |
| City | Austin |
| Zip Code | 78704 |
| Area | 6 |
| Community Name | Shelton Willie I |
| School District | Austin ISD |
| Elementary School | Travis Hts |
| High School | Travis |
| Listing VS Median (in Shelton Willie I) | |
Price: $1,180,000 low | high Med: $1,180,000 sqft: 2,533 low | high Med: 2,533 $ / sqft: $466 low | high Med: $466 On site: 2 low | high Med: 2 | |
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Listings courtesy of Austin Board of REALTORS® MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of September 12, 2026 at 7:49:56 PM PDT All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to [email protected].
“The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.
Contact
Learn More About This Property
| State | TX |
|---|---|
| County | Travis |
| City | Austin |
| Zip Code | 78704 |
| Area | 6 |
| Community Name | Shelton Willie I |
| School District | Austin ISD |
| Elementary School | Travis Hts |
| High School | Travis |
| Listing VS Median (in Shelton Willie I) | |
Price: $1,180,000 low | high Med: $1,180,000 sqft: 2,533 low | high Med: 2,533 $ / sqft: $466 low | high Med: $466 On site: 2 low | high Med: 2 | |
 | $900,000411 W Live Oak StAustin, TX 78704 |
 | $2,075,000212 Fletcher StAustin, TX 78704 |
Listings courtesy of Austin Board of REALTORS® MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to [email protected].
“The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.
